One Step Up #50
This week, we look at Dan Loeb, the latest generation of ultra-fast delivery ventures, the Metaverse, Mental Models + more
Important to celebrate small wins - number 50 goes out to you all today! Still baffles me that I’ve been doing this for a year now.
Strange Case of Dan Loeb and Daniel S. Loeb
Just a ridiculously good reporting/profile of Dan Loeb. It’s super fun to read about how experiences as early on as high school can shape one’s career. Highly highly recommend reading this.
Ultrafast Delivery: The $28B Market to Build the On-Demand Bodega
It’s amazing to me that companies like Amazon poured billions of dollars into getting to the level of operational efficiency where they can deliver goods within a day and now we have companies like Gorillas, Getir, Weezy (+more) who are promising to deliver groceries in under 15 minutes.
Very interesting place to keep an eye on!
Companies Trying To Do Unsustainable Things Sustainably
For long-term investors like us, you want to avoid companies trying to do unsustainable things sustainably. The longer the practice continues, the larger the off-balance sheet liability becomes. And when the bill comes due, watch out.
Mental Razors: 20+ powerful razors to help you cut through life's noise
An all time great article - so much wisdom condensed in such a short form. My favourites:
Buffett’s Rule of Holes
“The most important thing to do if you find yourself in a hole is to stop digging." - Warren Buffett
When things aren’t working, change course and try something different. When you find yourself at the bottom of a hole, stop digging and climb out of it.
The Paul Graham Crazy Idea Razor
If someone proposes a crazy idea, ask:
Are they a domain expert?
Do I know them to be reasonable?
If yes on (1) and (2), you should take the idea seriously, as it may be an asymmetric bet on the future.
The Metaverse Primer by Matthew Ball
On a side note, for anyone looking to get investment exposure to the Metaverse - Ball recently launched the The Roundhill Ball Metaverse ETF (deck here).
Till next time folks! Enjoy the beautiful summer while it lasts.