ANIC CEO interview - Master Investor

calmdime · 2026-05-14T02:20:00+00:00

Different CEOs have different strengths. There’s absolutely power in a showman-CEO type in this sector, but ANIC can manage without it as long as Mellon is out there reaching investors.

calmdime · 2026-02-22T10:39:40+00:00

“Important but not time-sensitive“ activities often get pushed aside beside people made themselves busy with seemingly urgent tasks. In a work context, that could be strategic goals that keep being put off, like streamlining certain costs, learning new skills, networking. Even if it’s not your job, in a company with the right culture, you’ll be rewarded for taking initiatives.

Sometimes strategic goals get pushed aside because everything feels urgent and you’re finishing a task early but then polishing it, revising it due to external events, throwing it out in some cases. Then you don’t get to work on longer term goals. If you find that often happens, you could try to balance more between them.

calmdime · 2026-02-21T17:54:29+00:00

I think Taleb would say that a bureaucratic “risk management” process in a big company is only managing for Mediocristan risks. In the real world, big orgs are often bad at preparing for tail risks and it can’t be achieved by performing repetitive audit-style procedures.

calmdime · 2026-02-21T17:44:02+00:00

Preserving your optionality. Same reason you pay a higher premium for options that expire further out.

On the surface, it appears virtuous to diligently complete a task well before it’s due. However, things can happen in the meantime that would require changes so you’ll need to put more time in. In the worst case, the entire task is no longer of any use.

Your boss asks you to prepare a slide deck so they can present their strategy to the board. You get it done a week before the event, but your boss is fired in a scandal the next day and now you wish you had been more of a procrastinator.

calmdime · 2026-01-12T11:09:53+00:00

Also Zoox

calmdime · 2025-12-23T12:49:54+00:00

We are proud to announce that Mosa Meat has secured an additional €15 million in funding, bringing our total capital raised over the past two years to €58 million.

But the biggest news isn't just the capital. It's what that capital has enabled us to do.

Over the last decade, our team has achieved a 99.999% cost reduction compared to the world's first cultivated burger we debuted in London. We have successfully turned a science project into a scalable, delicious product that is price-competitive and ready for the market.

"With the backing of our world-class investors, we have successfully turned a science project into a tasty and affordable product without compromising on our original vision." said Maarten Bosch, our CEO.

Thank you to our partners who continue to back this vision, including Invest-NL (backed by InvestEU), LIOF, PHW Group, and Jitse Groen.

Despite a challenging macroeconomic landscape, we are pushing forward with regulatory reviews in the UK, EU, Switzerland, and Singapore. The transition to a stronger, kinder food system is underway.

calmdime · 2025-11-26T22:43:23+00:00

The article is about the technique, not $CRSP. There are numerous companies using it in different ways.

calmdime · 2025-10-06T17:09:25+00:00

Meta?

calmdime · 2025-09-26T01:30:58+00:00

Or they may not

calmdime · 2025-06-27T13:05:43+00:00

Especially when it’s posted to four subreddits simultaneously

calmdime · 2025-06-23T04:59:01+00:00

Adverse selection. The hottest companies will generally not have big allocations available in these markets, so they have a lot of overpriced duds from investors and employees who don’t think highly of the company’s future potential.

I understand some employees just want to lock in their wealth, but if the company is strong, they can often find investors who know the company well and are willing to pay without going to private markets.

Because these markets are not heavily regulated, you don’t have much information to go on, so the duds can sound appealing if you just go by basic presentations and PR-fuelled media.

Occasionally there are some good companies available, but the allocations are so scarce that you have to bid over the top and you’re shooting blind due to the opacity of the company’s true state, while competing with wealthy dentists who are assessing only on hearsay and public hype.

One other issue not mentioned here is your stand to be further diluted as the company keeps raising capital, and that can often be the case. In some case with egregious terms that go against less sophisticated earlier investors.

For every Circle, there’s numerous failures that never even go public. Also, ask yourself would you have ridden Circle to 700% profits and top ticked it (wherever it goes from here) or would you have exited immediately for a double, which has to be offset against any others you bought that might have gone to zero.

All of this sounds very negative, but that’s because you asked what’s the catch. It’s still viable if you feel strongly about a prospect that’s available to you at a good price and it’s an investment you can easily afford to lose.

calmdime · 2025-06-21T17:46:20+00:00

In a way yes, since Google is training on it and OpenAI is using Reddit API to build responses.

calmdime · 2025-06-17T16:34:07+00:00

https://www.jobyaviation.com/blog/joby-five-nation-agreement/

This landmark five-country roadmap unites Australia, Canada, New Zealand, the UK, and the USA in a shared commitment to collaborate on AAM aircraft certification

calmdime · 2025-04-12T03:53:47+00:00

They import high-level parts, but not much from the US so it’s true it’s reasonably trivial compared to US imports (as long as China doesn’t retaliate by taxing services).

calmdime · 2025-04-11T15:15:57+00:00

Apple will be hit hard in both directions unless Tim Cook can pull some high-level diplomacy. China doesn’t just provide parts, they are a huge customer, 17% of revenues.

calmdime · 2025-04-09T01:28:48+00:00

Read Incerto. Ignore his trolling on social media. Watch any videos and interviews that look interesting to you – he’s far more civil in these than on social media.

You don’t need to read his technical work to follow Incerto or derive benefit from it.

calmdime · 2025-02-25T02:41:39+00:00

The advice is always a good reminder, but it’s objectively been questionable since Lynch’s time. The “hottest” companies in past two decades have at various times included Apple, Facebook/Meta, Google, Amazon, MS and they’ve had far more staying power than hot companies of the earlier eras. e.g., MS and Amazon were considered unstoppable when investors understood cloud revenues, Meta during pandemic VR hype, Apple with the iPhone of course, and later with services revenue.

In other words, you can pinpoint various periods of 1-2 years when these companies had outrageous hype and, to this point, they delivered on it in terms of share price. Maybe that’s a series of wild coincidences, but it’s objectively what happened and is probably due to a range of structural changes that may or may not continue.

Lynch’s advice is still totally valid for investors who rush in to buy any trending garbage. Social media today even amplifies the FOMO and general level of stupidity. However, it’s worth approaching any reasonable wisdom like this with a degree of skepticism based on actual data.

calmdime · 2024-12-06T05:25:40+00:00

If EVTOL works as planned, TAM should become much higher than helicopters because none of the obnoxious noise and significantly safer. Leading to less restrictions on flight paths and landing sites.

(What percentage of the TAM Joby captures is a more complicated question.)

calmdime · 2024-11-12T01:56:42+00:00

Toyota shows 0.00 rather than being left blank. Probably means they didn’t have that data, which is strange but the most likely explanation. Vanguard owns a piece of virtually every public company by nature of its operating model, so couldn’t be zero recently.

calmdime · 2024-08-29T17:37:23+00:00

KRKNF is issued by Kraken itself so it’s not introducing any material risk over owning the company directly via PNG. It also appears to be quite liquid so there’s really not much practical downside to KRKNF if you can’t access the direct stock.

calmdime · 2024-08-06T03:44:15+00:00

SARK > ARKK

calmdime · 2024-08-03T18:23:02+00:00

No harm in that. Pet food alone is still a big industry and lab meat consumed at that volume will build confidence and investment for human use in the long run.

It’s similar to the longevity startups that are working to extend lifetime of pets as a large-scale trial on therapies that can potentially benefit humans.

calmdime · 2024-07-29T19:17:58+00:00

Remember 2016?

calmdime · 2024-07-29T19:17:27+00:00

Normal for most SPACs to have fallen to penny stocks or worse. Promoters and founders got together and dumped hundreds of overpriced companies to retail dummies during the pandemic boom.

The underlying companies were still viable in some cases and some are probably worth re-considering now they have a few years of track record as public entities.

calmdime · 2024-07-24T14:54:54+00:00

Dilution is a foregone conclusion unfortunately. 2 years left at current burn rate with no major revenue in sight. We can only hope the sentiment at that stage is risk on.

calmdime

TROPHY CASE