We attended Snowflake’s Data Cloud World Tour where we met Frank Slootman (CEO), Benoit Dageville (co-founder), employees, clients, and developers. Benoit is a passionate innovator that makes many French computer scientists proud and Frank represents the ‘Dutch’ no-nonsense execution. The physical moats of businesses like Coca-Cola and Union Pacific are clear. Even if a new competitor would […]
We are experiencing the biggest sell-off in (growth) stocks since the credit crisis in 2008/09 and the Dotcom crash in 2000/01. More than 45% of the Nasdaq’s stocks are down more than 50%. Shopify, one of our larger positions, is down 67% in 2022. Spotify is down 55% and even Alphabet and Amazon, powerhouses with […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]