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Invest Like the Best

Patrick O'Shaughnessy in long talks with working investors and founders

Deep reads here2 / 595 episodes
Cadence~1 every 7.0 days
Latest2026-09-01
TopicsInvesting & Business
PriorityT1
1:18:07
Invest Like the Best 0825

Background agents will eat 90% of compute, so inference should trade latency for throughput

The next wave of AI inference is not chat but background agents, and they will eat 90% of compute. Sale Research therefore optimizes for throughput rather than latency, and will even accept 80% availability, in exchange for prices that fall by orders of magnitude — and it argues Nvidia's performance-per-watt advantage is overrated.

8 Points 6 Quotes AI InferenceGPUs
53:33
Invest Like the Best 0728

Intelligence will commoditize like RAM; OpenAI's real moat is compute

Sam Altman takes stock: intelligence itself will commoditize the way RAM did, and the durable advantage is the ability to manufacture cheaper compute. He also walks through ChatGPT's accidental birth, the Hugging Face safety incident, and how the bottleneck keeps moving.

8 Points 7 Quotes ComputeOpenAI