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[2025–2026] Week 17: Big Money Thinks Small by Joel Tillinghast

Behavioral Value Investor • 29 implied HN points • 13 Feb 26
💰 Finance Value investing Stocks Portfolio Management Behavioral Finance Investment Research Investing
  1. Read Joel Tillinghast’s Big Money Thinks Small and answer six focused questions about his investment style, background, best and worst investments, stock ideas, and an AI-based prompt.
  2. His approach emphasizes finding small, undiscovered companies by doing on-the-ground research and favoring inexpensive stocks judged by current profits and cash flow, combining a Peter Lynch–style search with a Neff-like value focus, while recognizing how randomness can affect short-term results.
  3. Participants should post all answers in a single comment, engage respectfully with others, and note that the next assigned book is The Investment Checklist.

So...Is The Gold Boom Over?

QTR’s Fringe Finance • 32 implied HN points • 10 Feb 26
💰 Finance Global Markets Investing Commodities Central Banks Monetary Policy Macroeconomics
  1. Foreign central banks sharply increased gold purchases starting in 2022 to diversify reserves away from the U.S. dollar, and that central-bank demand was a major reason gold rose so much.
  2. In 2025 individual investors piled into gold and helped send prices parabolic, but a hawkish Fed nominee and rate worries triggered a fast, large sell-off.
  3. The core story — countries wanting less dollar exposure — remains intact. Short-term drops may be temporary and more central-bank diversification could keep upward pressure on gold over the long run.

Write Like A Normal Person, Please

A Mug of Insights • 1513 implied HN points • 19 May 23
📖 Philosophy Language Existentialism Thought Understanding Communication
  1. Philosophy often seems obscure and complex to regular people due to its unique language and terminology.
  2. Understanding philosophy is akin to learning a foreign language, with its own set of definitions and interpretations.
  3. Mastering philosophy involves a shift in mindset, where the complexities of the language eventually click and become a new way of thinking and understanding.

Ghana's Concentration Camps For Witches

Grey Goose Chronicles • 1513 implied HN points • 11 Apr 23
🌐 International Religion Gender Culture Conflict Social Issues
  1. Witchcraft accusations and violence persist in African communities despite efforts to intervene and modernize.
  2. Ghana has concentration camps for accused witches, primarily housing older women who face persecution and violence.
  3. Efforts to close the witch camps have faced challenges, as the camps provide protection and livelihood for the residents.

💻 Zoom

First 1000 • 1513 implied HN points • 13 Jul 23
🕹 Technology Product Management UI UX
  1. In UX design, smart defaults can be very powerful.
  2. Sometimes, a design that looks slick and communicates well may not perform as well as another in tests.
  3. Don't underestimate the impact of smart defaults in design choices.
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A Sugar AI High Shrugs Off Bad Market News

Peter Navarro's Taking Back Trump's America • 884 implied HN points • 12 Jan 24
💰 Finance Interest Rates Geopolitics Economy Investments Markets
  1. The S&P 500 continues to rise despite bad news like inflation and unemployment.
  2. Big tech billionaires are heavily investing in AI that may impact the job market and lead to technological warfare.
  3. Geopolitical tensions, including the possibility of war in the Middle East, are influencing the market's stability.

Gold & Silver: A Volatile Day, Not a Broken Thesis

QTR’s Fringe Finance • 47 implied HN points • 31 Jan 26
💰 Finance Investing Currency Fiscal policy Monetary Policy Commodities Markets
  1. A single sharp down day is normal volatility and doesn’t mean the long-term bullish case for gold and silver is broken.
  2. Large fiscal deficits and heavy Treasury issuance limit how long the Fed can stay hawkish, which tends to push real rates lower and support precious metals over time.
  3. The U.S. external financing imbalance and a softer dollar add structural support for metals, but crowded trades can unwind quickly so expect two-way volatility.

♾ Meta: The Zuck 'Playbook'

How They Make Money • 727 implied HN points • 09 Feb 24
💼 Business Technology Investment Earnings Report Market Analysis Finance
  1. Meta (META) reported strong Q4 FY23 performance with a 5X return from November 2022 lows, focusing on Metaverse investments and cash returns to shareholders.
  2. Key points from Meta's 'Playbook' include massive compute investment, open-source strategy, future-focused research on AI, data utilization, and an experimentation culture.
  3. In Q4 FY23, Meta saw growth in user metrics and revenue, with an increase in average revenue per user, surpassing competitors like Snap and Pinterest in ARPU.

Random object: Sony Mavica MVC-FD73

lcamtuf’s thing • 2040 implied HN points • 16 Jan 25
🕹 Technology Photography Gadgets Digital Media Innovation
  1. New technology can become popular even if it isn't the best quality. For example, digital cameras started winning over film cameras because they were easier and cheaper to use.
  2. The Sony Mavica MVC-FD73 was a successful camera despite its poor image quality. People chose it for convenience rather than for great pictures.
  3. Convenience often matters more to most consumers than the finer details of quality. This trend has important implications for how we view and adopt new technology.

The CAP Theorem needed an update.

System Design Classroom • 359 implied HN points • 28 Apr 24
🕹 Technology Data Systems Database Management Networking Software Design Computer Science
  1. The CAP theorem says you can have consistency, availability, or partition tolerance, but only two at a time. This means systems have to make trade-offs depending on what they prioritize.
  2. The PACELC theorem expands on CAP by considering what happens during normal operation without network issues. It adds more options about choosing between latency and consistency.
  3. Real-world examples, like a multiplayer game leaderboard, show how these principles apply. You can have quick updates with potential outdated info or consistent scores that take longer to change.

Inventing the Ralph Wiggum Loop | Creator Geoffrey Huntley

Dev Interrupted • 70 implied HN points • 13 Jan 26
🕹 Technology DevOps Infrastructure Productivity Governance AI Software Open Source
  1. The "Ralph" pattern runs a simple loop that feeds a model's own outputs back into it until it produces a correct result, making persistent retries more important than a single perfect model.
  2. Gas Town is an orchestration approach that treats work as tiny, handoffable tasks executed by many ephemeral agents, creating an assembly line where coordination is the main bottleneck.
  3. AI scraping documentation can destroy traffic-driven revenue for open source projects, causing layoffs and a sustainability crisis, so supporting the open source you depend on is increasingly crucial.

Paul Graham: Are You Building Fake Product-Market Fit ? | VC Remote Jobs & More

Venture Curator • 939 implied HN points • 02 Jan 24
💼 Business Startups Product Development Entrepreneurship Investing Venture Capital
  1. Product-market fit goes beyond building a product people like; it involves understanding the numbers behind it.
  2. Founders can fall into the trap of 'Fake Product-Market Fit' by focusing on the wrong signs like securing funding or excessive spending.
  3. To achieve genuine product-market fit, founders need to monitor metrics, control spending, and ensure a strong connection between the product and the market.

Why "Sharding Splits Security" Is a Mid-Curve Argument

Dan Hughes • 159 implied HN points • 27 Jun 24
🔮 Crypto Technology Blockchain Security Decentralization Economics
  1. Sharding can actually enhance economic security instead of weakening it. When networks split into shards, they can manage more transactions, which can lead to higher security overall.
  2. The economic activity in a network is crucial for its value and security. More transactions and smart contracts boost the token's value, which in turn helps protect the network from attacks.
  3. Unlike traditional networks, sharding allows for greater decentralization. More validators can participate, making it much harder for bad actors to take control, which helps keep the network safe.

"Absolute Train Wreck": US Adds $481 Billion In Debt In 3 Months

QTR’s Fringe Finance • 31 implied HN points • 10 Feb 26
💰 Finance Macroeconomics Public Debt Fiscal policy Monetary Policy Interest Rates Debt Markets
  1. The government has sharply increased borrowing, adding hundreds of billions in a few months and sustaining a new norm of over $2 trillion per year; at that pace the debt could grow by about $10 trillion every four years.
  2. Annual interest payments have topped $1 trillion and are set to rise, driven by large amounts of notes (2–10 year maturities) and a shorter average debt maturity that forces more frequent rollovers.
  3. This combination of rising debt and interest costs looks fiscally unsustainable and could force the Fed or Treasury into interventions that would weaken confidence and strain markets.

AI in the Age of Mythic Powers (Part II) by Josh Schrei

The Bigger Picture • 519 implied HN points • 21 Mar 24
📖 Philosophy Embodiment Ethics Initiation Responsibility Knowledge
  1. The process of initiation and ritual is vital for humans to understand their role in the world and to prevent misuse of power.
  2. Embarking on an initiatory journey involves patience, learning, and sacrifice to gain true wisdom.
  3. Ethics and responsibility must be deeply felt and embodied, not just imposed externally, especially in the fast-paced world of technology and AI development.

Manufacturing Epistemic Density

Abstraction • 24 implied HN points • 16 Feb 26
🕹 Technology Networking Startups Product Software AI Tools Communities
  1. Being near people who already understand and topic (high epistemic density) makes short, frequent conversations possible, and those conversations turn into real progress and friendships.
  2. Removing coordination friction with simple tools (like an easy coffee scheduler) makes casual local meetings happen more often, and that consistency helps relationships form.
  3. AI has compressed the time to build small apps, so problems that once felt too small now merit quick, imperfect projects you can ship in hours or days.

I Have Learned A Few Things

Caitlin’s Newsletter • 2356 implied HN points • 07 Dec 24
📖 Philosophy Metaphysics Knowledge Human nature Social theory Existentialism Ethics
  1. Western interventions often lead to terrible consequences, and the people pushing for these actions are usually on the wrong side of history.
  2. Putting profit above everything else hurts our planet and our well-being, leading to a lot of unnecessary suffering, especially in poorer countries.
  3. Learning to trust our own insights and build genuine connections with others can help us see the beauty in life and find true fulfillment.

This Crash Is Bitcoin's Biggest Test Yet

QTR’s Fringe Finance • 36 implied HN points • 07 Feb 26
🔮 Crypto Regulation Adoption Politics Volatility Institutions Markets
  1. Bitcoin just had a dramatic ~50% drawdown that feels like a real moment of truth, forcing both believers and skeptics to rethink what the asset actually is, not just its price,
  2. Mainstream adoption in the U.S. — ETFs, banks, retirement accounts, political support — means there may be fewer new buyers left domestically, which is the core bearish case about demand peaking,
  3. From here the paths split: it could slowly fade into a niche asset, enter a long sideways crypto winter, or rebound to new highs; either way, volatility remains Bitcoin’s defining feature.

Japan’s Technological Prowess Should Enable 2.3% Per Capita Growth, Part I

Japan Economy Watch • 299 implied HN points • 13 May 24
💼 Business Economic Growth Innovation Competitiveness Research & Development Technology
  1. Japan's technological prowess could potentially lead to 2.3% per capita growth, doubling the current rate.
  2. The challenge Japan faces is converting technological strength into economic value due to rigid financial and labor systems.
  3. While Japan excels in complexity of technology use, it lags in adapting new technologies and faces challenges in sustaining growth as demand shifts.

READING: Is Writing → Dialoguing :: Grunt-Programming → Vibe-Coding?

Brad DeLong's Grasping Reality • 146 implied HN points • 08 Dec 25
📖 Philosophy Ethics Mind Technology Education Epistemology Ancient Philosophy
  1. Written texts and recordings can give the appearance of knowledge while encouraging people to rely on external reminders instead of building and defending understanding from within.
  2. Live dialogue and dialectic force active engagement and produce a living, self-defending understanding that can grow and be passed on, unlike static written words.
  3. Modern AI/code-generation tools risk turning skilled people into passive passengers if used as replacements; they work best as training partners and aids that augment—rather than substitute for—real practice and judgment.

Data Science Weekly - Issue 527

Data Science Weekly Newsletter • 959 implied HN points • 29 Dec 23
🕹 Technology Artificial Intelligence Machine Learning Data science Analytics Data Engineering
  1. This week, there's a focus on using data science techniques for practical decision-making, highlighted by an interview with Steven Levitt, who discusses making tough choices using data.
  2. There's a roundup of AI developments from 2023, showing how the field has evolved over the past year, which can help professionals stay updated.
  3. Understanding data quality is essential, as it directly impacts how useful data is for decision-making and analysis in any organization.

469: The Market's Goal, Synopsys + Ansys, Nvidia, Spyderco, Intel AI Spin, Nuclear Arsenal Forgotten Secrets, Recessions Since 1860, and Searching for Bobby Fischer

Liberty’s Highlights • 884 implied HN points • 10 Jan 24
💰 Finance Nuclear Weapons Film Market Dynamics Mergers Tech industry
  1. The market often surprises people and goes through cycles of confusion and growth.
  2. US recessions have been less frequent, signifying stability, but opportunities for growth still exist.
  3. Merger talks and developments in companies like Synopsys, Ansys, Nvidia, and Intel show shifts in technology landscapes.

Ticker Take: a weekly newsletter on investing.

Jon’s Newsletter • 119 implied HN points • 12 Jul 24
💰 Finance Economy Banking Corporate Earnings Investing Stock Market
  1. Marko Kolanovic's bearish predictions about the stock market didn't happen, leading to his departure from JP Morgan. In a strong market, being negative can be isolating.
  2. Tesla's stocks have been rising quickly due to excitement around AI and self-driving cars, but some analysts warn that the stock may be overrated at this point.
  3. Costco is raising its membership fees for the first time in seven years, which could lead to an increase in their profits. Many analysts continue to view Costco as a strong investment option.

The newest AI slop on Facebook exploits suburban fear

Taylor Lorenz's Newsletter • 2746 implied HN points • 29 Oct 24
🕹 Technology Online Trends Social media AI Misinformation Digital Culture
  1. A recent Facebook post claiming that neighbors are egging cars over Halloween decorations is just a viral AI hoax. Many people believe it and react strongly, showing fear and distrust about their neighbors.
  2. AI-generated content is flooding social media and often incites extreme reactions, particularly fears related to neighborhood safety during events like Halloween.
  3. As AI content becomes more extreme, it might lead to worse stories and escalated fears about community issues, especially when it comes to kids and potential mischief.

Things We Learned Creating Technology Career Steps

It Depends / Nimble Autonomy • 19 implied HN points • 08 Sep 24
🕹 Technology Career development Leadership Organizational Culture Performance Management
  1. Clear connections between career steps and salary are important. When those links are vague, it can create misunderstandings and worries for employees.
  2. Career advancement should focus on behaviors and personal growth, not just achievements. While some people prefer clear advancement criteria, ambiguity can encourage conversations about development.
  3. Ongoing support and communication are essential after launching a new framework. Failing to keep it active can lead to confusion and make the effort feel unimportant over time.

Where AI wins.

The Uncertainty Mindset (soon to become tbd) • 199 implied HN points • 12 Jun 24
🕹 Technology Data Management Innovation Strategy Machine Learning Human-Machine Interaction AI Ethics
  1. AI is great at handling large amounts of data, analyzing it, and following specific rules. This is because it can process things faster and more consistently than humans.
  2. However, AI systems can't make meaning on their own; they need humans to help interpret complex data and decide what's important.
  3. The best use of AI is when it works alongside humans, each doing what they do best. This way, we can create workflows that are safe and effective.

Will you turn down the darn lights?

Something to Consider • 59 implied HN points • 10 Aug 24
🕹 Technology Regulation Innovation Lighting Safety Automotive
  1. Modern headlights are much brighter than before, making it hard for drivers to see at night. This change is mainly due to safety standards that encourage brighter lights.
  2. The bright lights create a problem called negative externality, where too many bright headlights make it harder for everyone to see. Lowering the brightness can help improve safety and comfort for all drivers.
  3. New technology can help adjust headlights automatically based on other cars' positions. Advocating for softer lights and using adaptive headlights can make nighttime driving safer and more pleasant.

Six Game Devs Speak to Computer Games Mag (1984)

Computer Ads from the Past • 768 implied HN points • 10 Jul 25
🕹 Technology Gaming Software Development Programming Media
  1. Many game creators started programming at a young age and learned by experimenting on their own computers. They believe that hands-on experience is the best way to learn.
  2. Creating a successful game often requires a mix of good ideas and playability. Game designers know that if a game is fun and engaging, people will want to play it.
  3. The game development journey can be both enjoyable and challenging. Many developers find satisfaction in creating games that others love to play, making it a rewarding career.

Revisiting the NetBSD build system

Blog System/5 • 2150 implied HN points • 28 Dec 24
🕹 Technology Software Operating Systems Development Tools Embedded Systems Open Source
  1. NetBSD's build system is powerful and flexible, allowing users to build the operating system from scratch on any supported hardware without needing root access. This makes it useful for developers and advanced users.
  2. The build process is user-friendly due to the `build.sh` script, which simplifies complex commands into easy-to-understand goals. You can easily compile and create disk images with just a few commands.
  3. While the build system has many strengths, it also has inefficiencies, especially with incremental builds. Improvements could make it faster and less resource-intensive, which is a consideration for future development.

What developers can do to combat the growing threat of rogue AI agents

Dev Interrupted • 32 implied HN points • 05 Feb 26
🕹 Technology AI Security APIs Software Engineering DevOps Governance
  1. AI agents can go rogue by repeatedly or unpredictably calling APIs, chaining actions, or accessing data outside their intent, so permissive or poorly scoped endpoints become big operational risks.
  2. Treat agents as first-class API consumers: use clear, spec-driven contracts, structured schemas, and least-privilege identities with short-lived tokens so agent behavior is predictable and easy to revoke.
  3. Practical guardrails like rate limits, schema validation, anomaly detection, and strong observability are essential to spot and contain misbehavior, and keep deterministic systems separate from agentic workflows to reduce risk.

Wetware-Hardware Centaurs, Not Digital Gods: Wednesday MAMLMs

Brad DeLong's Grasping Reality • 176 implied HN points • 26 Nov 25
🕹 Technology Machine Learning Human-AI AI Ethics Artificial Intelligence Natural Language
  1. Modern large language models are super-fast next-token mimics that draw on the collective human text record but don’t have durable world models, so they can be very good at summarizing and pattern-matching yet fail at understanding time, causality, or embodied tasks.
  2. AI capabilities are jagged: models shine on problems with clear reward signals or when the needed context fits easily into their input window, but they fail unpredictably on other practical tasks, and raw hardware speed alone won’t erase that unevenness.
  3. The realistic near-term outcome is centaur workflows where humans provide judgment and guardrails; achieving true, general understanding likely requires rethinking architectures to build explicit world models rather than just scaling current next-token engines.

talking sense on housing affordability

bad cattitude • 203 implied HN points • 14 Nov 25
💰 Finance Housing Economics Real Estate Affordability Investment
  1. Housing prices have increased recently, but they were quite affordable before 2021. It's important to understand this context when discussing affordability.
  2. Interest rates play a big role in housing costs, and rising rates can make homes much more expensive over time.
  3. To truly improve housing affordability, we need to increase the supply of homes and make construction easier, rather than just adding subsidies.

The Bear Cave #283

The Bear Cave • 676 implied HN points • 20 Jul 25
💼 Business Finance Investments Stock Market Corporate Governance Economics
  1. Recent reports show that some companies like Enovis and Vedanta Resources are facing serious challenges, with accusations of misleading practices and poor performance.
  2. There have been notable executive resignations in several companies, suggesting instability in leadership across different sectors.
  3. The trend towards lab-grown diamonds is growing, with many consumers favoring them over mined diamonds, which may affect traditional diamond prices.