Climbing the Scaling Wall

Last month, Gavin Baker in ILtB podcast mentioned the following: “I think there's been a big misunderstanding of maybe in the public equity investing community, or the broader more generalist community, based on the scaling laws of pre-training, there really should have been no progress in '

CoStar's Outlook

Rich Simonelli, the Head of Investor Relations (IR) of CoStar, wrote only two sentences in his “About” section on LinkedIn. The first sentence reads the following: “I maximize shareholder value.” Since becoming Head of CoStar IR in August 2024, this is how CoStar performed: Hmm, not quite my tempo. In

Scaling Law Skepticism

Peter Lee, Head of Microsoft Research, once quipped a joke about Moore’s law: “There’s a law about Moore’s law…the number of people predicting the death of Moore’s law doubles every two years.” As a reminder, Moore’s law is not a law of physics or

Alphabet's Alpha Bet

A couple of months ago, Demis Hassabis indicated what he is more focused on these days: World models are the thing I’m mostly spending my research time on. You probably saw SIMA 2 come out just a couple of days ago. I sometimes call it SIMA playing in the

Software in Crosshairs

I came across this tweet on last Friday that indicates that the first trading day in 2026 was the worst day for software stocks since 2009 (and third worst in the last 20 years)! During the holidays, I came across several pieces on the current and future potential state of

The Pursuit of Better Explanations

A couple of weeks ago, Instagram algorithm showed this reel to me about James Cameron. It’s a two part series (part 1, part 2) which in aggregate will take you four and half minutes to watch. I recommend you watch the videos, but in case you don’t, this

The Battle for Attention

During 1Q’17 Netflix earnings call, Reed Hastings mentioned something that raised some eyebrows or perhaps created a muffled laughter: Think about it when you watch a show from Netflix and you get addicted to it, you stay up late at night. You're really -- we're competing

2025 Annual Letter

Broadly speaking, I tend to reflect on my year in three buckets: a) operating performance of MBI Deep Dives, b) performance of my personal portfolio, and c) my personal health as well as relationships with my friends and family. For the second consecutive year, MBI Deep Dives has been in

One Year of Parenting!

When the world was celebrating Christmas last year, we welcomed our son Nile to the world! “Oh, a Christmas baby!!”— we kept hearing from the doctors and nurses in the hospital. I didn’t grow up celebrating Christmas, but who knew my greatest cause for celebration would arrive on the

The Ecosystem Advantage

Like “Spotify Wrapped”, ChatGPT yesterday let its users see their 2025 stats which was fun to go through. I almost exclusively use ChatGPT Pro model (with extended thinking) which makes it hard for me to casually chat with ChatGPT as it typically takes 10-20 minutes for each of my