Invest Like the Best with Patrick O'Shaughnessy
Conversations with the best investors and business leaders in the world. We explore their ideas, methods, and stories to help you better invest your time and money. Hear stock market and boardroom insights you can't find anywhere else. If you're a professional investor, CEO, entrepreneur, or business strategist, this is for you. Explore all our episodes and learn more at https://www.colossus.com
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Dan Loeb - Lessons from 30 Years of Investing
<p>My guest today is Dan Loeb, the founder and CEO of Third Point. </p> <p>Dan started Third Point in 1995 with a few million dollars, and today the firm manages over 24 billion across equities, corporate and structured credit, venture, and insurance. </p> <p>He is best known for his activist work at companies like Sotheby's, Sony, and Yahoo, and for the public letters he has written to boards over the years.</p> <p>What I find most interesting about Dan is how much his approach has evolved across thirty years. </p> <p>He came up as a credit and eve...
Darren Farber on Iran, China, and the Rise of Neoprimes
<p>My guest today is Darren Farber, and this is his second appearance on the show.</p> <p>Darren is a Managing Partner of Albion River, a defense-focused investment firm and he previously served as a special advisor to the Deputy Under Secretary of Defense.</p> <p>We recorded this conversation in the middle of the Iranian contingency, and we spent most of our time on what winning actually means in a theater like Iran.</p> <p>We discuss why magazine depth matters for the American industrial base, lessons from Ukraine, and what the rise of neo-prime defense companies will...
Gavin Baker - Watts and Wafers
<p>My guest today is Gavin Baker, founding partner and CIO of Atreides Management, and this is our sixth conversation.</p> <p>The central theme is watts and wafers, the two physical constraints that in Gavin's view will dictate the next phase of AI.</p> <p>On power, he thinks the near-term shortage starts to ease in 2027 and 2028 as new sources of energy come online, and that orbital compute solves it in the long term.</p> <p>On wafers, he explains what is different this time from the dotcom bubble and why TSMC’s capacity decisions may be the single mo...
Krishna Rao - Anthropic's CFO on Managing Compute, Scaling to $30B ARR, and the Returns to Frontier Intelligence
<p>My guest today is Krishna Rao, the CFO of Anthropic. The center of our conversation is how he navigates the decision around procuring and allocating compute, which he describes as the canvas on which everything else gets built.</p> <p>We talk about what he calls the cone of uncertainty, the three chip platforms Anthropic uses fungibly across Trainium, TPUs, and GPUs, and the daily meetings they run to allocate compute between model development, internal use, and serving customer demand.</p> <p>He explains why the returns to frontier intelligence keep getting higher, especially in enterprise, and how Anthropic...
Brian Chesky - AI Founder Mode
<p>My guest today is Brian Chesky, the co-founder and CEO of Airbnb. Our conversation traces the path from his early training as an industrial designer at RISD through the pandemic moment that forced him into founder mode. </p> <p>He explains why he thinks AI founder mode will demand even more attention to the details and why founders are rarely good early CEOs.</p> <p>He walks through his eleven-star exercise, which is a way of imagining the most absurd version of a customer experience to achieve product market fit. </p> <p>We also talk about what changed for hi...
Paul Tudor Jones - Lessons From 50 Years in Markets
<p>My guest today is Paul Tudor Jones. Paul is the founder of Tudor Investment Corporation and one of the greatest macro traders of all time, known for calling and profiting from the 1987 crash and compounding capital at extraordinary rates over more than four decades.</p> <p>Paul is also one of the most entertaining and interesting people I have ever met. He is full of stories and hard-earned lessons from a lifetime in markets that feels like several lifetimes compressed into one.</p> <p>In this conversation, he shares how he thinks about trading as a constant battle of...
Dylan Patel - The Infinite Demand for Tokens, Claude Mythos, and Supply Constraints
<p>This is my second conversation with Dylan Patel. Dylan is the founder and CEO of SemiAnalysis, where he tracks the semiconductor supply chain and AI infrastructure buildout.</p> <p>This conversation is about the supply and demand of tokens. On demand, Dylan describes something completely explosive. He explains why the frontier model is the only model anyone wants, and willingness to pay for it is nearly unbounded. His own firm has gone from tens of thousands of dollars in AI spend last year to seven million this year.</p> <p>On supply, we walk through the bottlenecks across memory...
Alex Karnal - The Trillion-Dollar Health Revolution
<p>My guest today is Alex Karnal. Alex is the co-founder and managing partner of Braidwell, a life sciences investment firm he built after spending 15 years at Deerfield Management. </p> <p>The frame we use throughout the episode is the health stack. Alex talks about how most of the diseases that will claim most of our lives are already addressable with medicines that exist today. We work through the five layers of what a defensive health strategy looks like, why GLP-1 medicines represent the first commercial proof that people are ready to be proactive about their health, and why PCSK9...
Scott Nolan - SpaceX, Founders Fund, and Rebuilding American Uranium Enrichment
<p>Scott Nolan spent 12 years at Founders Fund looking for the most important problems that no one else was funding. Then he found a problem so critical, and so ignored, that he couldn't find a company to back. So he started one.</p> <p>General Matter is rebuilding US uranium enrichment. The United States was the world leader in enrichment through the 1980s and then stopped entirely. Today roughly a quarter of US enriched uranium comes from Russia, a ban on those imports takes full effect in 2028, and the advanced reactors everyone is counting on to power the next wave...
Alan Waxman - Private Credit and the Modern Financial System
<p>My guest today is Alan Waxman, co-founder and CEO of Sixth Street, a $130B global investment firm.</p> <p>Private credit is one of the most discussed topics in markets right now, and there is a lot to make sense of. The current discourse is almost entirely focused on symptoms. Alan Waxman has spent the time diagnosing the root cause.</p> <p>Alan thinks about the financial system the way a historian would, studying the incentives, guardrails, and market structure that determine how things play out.</p> <p>In this conversation, he traces the evolution of American finance from...
