Most venture funds are discretionary and concentrated. That means luck mostly determines the outcome. Far better to approach it like Vested, with systematically created diversified portfolios. Now if only it also had lower fees and better liquidity... youtu.be/flv6lHN4wBE?...

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All the doves hollering that the big downward payrolls revisions weren't available at the last meeting, just ignoring that the Fed cares about labor market *tightness* which remained stable due to low supply, not growth rates.

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Hard Data Shows Few Signs Of An Upturn Despite the improving vibes of late, a broad look at recent prints suggests weakness seen in the first half is set to continue, with even the rebound in demand mostly auto tariff front running. open.substack.com/pub/bobeunli...

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haha, sometimes I just cant help myself. Though this one with Chamath is probably my spiciest ever...

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The Fed Turns Dovish as Inflation Rises A broad look at the inflation data suggests price pressures continue to rise as disinflationary benefits like housing moderate and price pressures from tariffs flow through. Thread.

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