2Q26 Investor Letter
“If anything, our two cents only add to the mountains of analysis and seas of predictions. We know evidence always exists both ways - the timing of when they are brought up and the weight being put on each piece of evidence are self-serving. In times like this, no one is truly independent.
The last thing we want to do is run between bus stops to catch a bus. We cannot think of a strategy worse than this.
Nonetheless, AI started to do tremendously for us - not yet reflected in our performance, but in our workflows. We started officially using AI for our top-of-the-funnel idea generations, and first-level funnel conversions. We have put a lot of effort into making the tools truly work, based on years of experience and, more importantly, our acquired tastes. In other words, we own the full-stack for these tools.
There is a problem with acquired taste. Although we are pretty confident that we know exactly what we want and how we want it in our narrow field, we are also equally terrified of how hard it is to judge the quality of work by AI outside our realm. As we are passing on more and more of the acquired part to AI, we are less and less able to use taste to guide their work. Then, in a Chicken-and-Egg paradox, are we the chicken or are we the egg?”