Entries by Georg Krijgh

Epic Games

We bought shares in Epic Games, a leading interactive entertainment company, operator of Fortnite, and provider of the Unreal Engine, which powers the world’s leading games as well as industrial simulations. We think that Epic has a gigantic opportunity to thrive in the future internet. There, we are unlikely to conduct affairs while staring at […]

Affirm

We are shareholders in Square, the company that develops tools for merchants to transact and run their business. In August, Square announced to buy Afterpay, a leader in the Buy Now Pay Later industry, for USD 29 billion in stock and cash. Afterpay has 17 million active clients that seek a better way to pay. […]

Shopify

It is impressive how fast Shopify is growing its relevance and moat. The decoupling of jobs from location and democratization of participation in the internet-enabled economy is changing lives and business architectures. The modern enterprise is a core with a big partner network of applications around it. Today, any person can lever this network to […]

Roblox

The metaverse is an idea that describes the shared 3D spaces in a virtual universe. Recent advances in cloud computing, computing devices, and machine learning, enable the materialization of the metaverse. Roblox was founded in 1989 by David Baszucki and Erik Kassel when they programmed a physics lab where students could study how cars would […]

ML infrastructure investments

Two thousand and twenty was the year in which the promise of artificial intelligence became more tangible. We are probably entering the phase in which the early majority is starting to adopt machine learning infrastructure. Breakthroughs such as GPT-3 (an autoregressive language model that uses deep learning to produce human-like text) and AlphaFold 2 (code […]

Clouds

Over the past two weeks, most of our businesses presented their 2020 Q3 results. The numbers show the tectonic shift of wealth within society. Just five years ago, a trillion dollar market valuation still sounded unimaginably big. Few people would have thought that the trillion dollar+ businesses would continue to grow at such a stunning […]

Growth of Intelligence is Accelerating

The digital revolution perhaps marks the greatest disruptive transformation in the history of mankind so far. The evolution of human intelligence spans about 7 million years, roughly from the separation from the genus Pan. The emergence of almost limitless artificial intelligence is now starting to have a significant impact on society. The unfolding of machine […]

Early Stage

The massive global scramble to digitalize both private and professional matters is creating big winners and losers. Today, we are at a shockingly early point in the digital transformation. The economy of the internet is still only a single percentage of global GDP. We are gradually heading to a place where the GDP of the […]

Digital Trends Are Accelerating

The pandemic is accelerating existing trends to digitalize. We further concentrated on technology businesses that benefit from current developments and that provide winning platforms in e-commerce, cloud computing, gaming & e-sports, digital payments, and machine learning. On April 27th, Loren Padelford, Chief Technology Officer of Shopify, the e-commerce platform, tweeted ‘this crisis is a time […]

Investment Philosophy During The Pandemic

  I do not have any special knowledge about viruses or epidemiology and will not express opinions on this topic. Yet, I do like to share a few thoughts about our investment philosophy. Intelligent investing is based on the relationship between the value of a business and its market price. There will always be global […]