The low level of nominal bond yields provides an important offset to the richness of earnings multiples.

The total enterprise value of the internet enabled economy will grow by 10x to $62 trillion by 2045 from $6 trillion today.

The software sector is dangerously on the cusp of a precipitous fall.

Every component of FANG is stronger because of the coronavirus pandemic.

As you start to walk on the way, said Rumi, the way appears. Since we are laying considerable weight on the prospect of a new bull market, let us define what we mean by it.

"The best players in this kind of market have not passed their twenty-ninth birthdays. This is a Kids’ market."

We believe Square, Shopify, and PayPal will collectively be worth more than the ten largest US banks combined.

The rotation from value to growth over the past decade is the start of a secular trend that will persist over many decades.

What could mark the peak in internet valuations better than when the company whose grandiose mission it is “to increase the GDP of the internet” goes public?

We continue the conversation daily in our members-only Slack group. Here’s a summary of the most helpful insights gained from the community last month.

We continue the conversation daily in our members-only Slack group. Here’s a summary of the most helpful insights gained from the community last month.

Macro themes that dominated the market for the last fifteen months—Covid, WFH, then vaccine/reopening—are fading. What comes next?

Silicon Valley is experiencing a confined downturn, similar to the shale bust of 2015—16. The lesson is that now is not the time to be bearish.

Sequencing matters when a boom turns into a bust. As we enter the capital discipline stage, many beaten-down tech stocks can double.

Forget the idea that a credit crunch is looming. It’s been here for some time. Look to Silicon Valley.

At the peak of the railway bubble in 1880, the transport sector accounted for 60 percent of stock market value. What if the tech sector reaches similar heights?

Hold off your bearish bets till everything comes together. There’s still time. The S&P 500 is heading toward a new high above 5,000.

We continue the conversation daily in our members-only Slack group. These are the most helpful insights gained from the community last month.

Bringing together the most interesting people in the most interesting locations for the most interesting ideas.

This isn’t 1995; we’re now in a post-bubble world.