Cliff Sosin (@CliffordSosin) is one of my favorite people to call, ask some big questions, and then shut up and listen. This conversation is a version of one of those calls. We discuss: - The limits of intelligence - Owning the complements to it - Meta, the frontier labs, and the AI build-out - Capital markets - Why he's comfortable with 80% of his portfolio in Carvana. TIMESTAMPS 0:00 Intro 10:41 The Limits of Intelligence 18:03 Investing Beyond Cheap Intelligence 24:03 Will AI Become Commoditized? 35:10 Who Profits From AI? 43:00 AI Agents Reshape Competition 52:06 America's Capital Markets 58:04 Transforming Companies With AI 68:19 AI and Portfolio Concentration 73:16 Education in the AI Era

Yet the Kansas City River Club still exists on the top of this bluff, one last bastion of a fading civilization

ANTHROPIC TO DEDICATE 20% OF ITS SHARES TO “PUBLIC GOOD” The only way to make it a public good is to give it to the people directly with full voting rights, not to some wholly owned LLC that does “public benefit” work Burn this effective altruism to the ground

Here is a first look at the official renderings of the new Royals stadium coming to downtown KC in 2030 released today. This is going to be unreal for KC. Could not be more proud to be a Kansas Citian as we continue to challenge the status quo across the region.

My HOA sent me a letter requesting that I stop handing out full-size candy bars for Halloween this year. -Fun-size bars are usually 15–25¢ each. -Full-size are around 75¢–$1. Most people give out 2–3 fun-size anyway, so the real difference is often only a few cents per kid. Am I crazy, or is it weird for an HOA to police this?

During the “golden age of illustration,” children were depicted with anatomic accuracy that was faithful to the stage of life they were in, and in poses that were natural and believable for a child. Jesse Wilcox Smith, Elsa Beskow and Mary Cassat are examples of artists who did such work and they were able to do so because they not only observed children closely, but also loved them. However, modern illustrations of children feature joints that don’t articulate–elbows and knees don’t exist– and facial expressions that are emojis rather than anatomically correct changes that belie bone structure and fat distribution underneath. As a circle with a triangle under it depicts a woman on a bathroom stall, so modern illustrators depict children with large heads, goofy bean mouthed expressions and noodle arms and legs. In essence, children are no longer depicted as human beings but rather emoticons of human beings. And the reason for this is not merely due to changes in “artistic styles”, but rather the far more oily and avaricious greed of publishers, the sloth and incompetence of modern artists and most heinously, a modern disdain for children. - An excerpt from my latest essay, soon to be published.

Seen many people spend years pursuing these kinds of financial gimmicks and their lives often become sort of disordered because of it.