$BTC - Bitcoin cited as an example of successful amateur investing that outperformed professional managers, suggesting continued potential for individual investors.
$TSLA - Elon Musk and Tesla represent a simple but effective investment thesis that Jeremy believes should be pursued, with Musk being positioned as a key figure to be long.
$CAPEX - High CapEx businesses and real-world asset companies are attracting significant capital flows as they can absorb excess venture capital that previously had nowhere to go, representing a structural shift in capital allocation.
$AILABS - AI labs and related infrastructure represent the ultimate high CapEx opportunity that can absorb massive amounts of capital, with founders like Elon, Zuckerberg, Dario, and Sam positioned as key allocators of wealth through their platforms.
Bearish:
$SAAS - SaaS business model faces fundamental challenges as the shift from selling zero-marginal-cost software to compute-intensive AI services will compress gross margins and eliminate the high-margin economics that made SaaS attractive.
$PE - Private equity has not created the biggest businesses in the world and has largely relied on acquisition and financial engineering rather than building value, making it inferior to venture capital as a civilizational force.