The hottest Investment Substack posts right now

And their main takeaways
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“Sniper investor” Allen Zhu is slowing his investment pace, focusing on in-depth project research

Ginger River Review • 707 implied HN points • 10 Jan 24
💼 Business Investment
  1. Investor Allen Zhu is reducing his investment speed to focus on thorough project research, showing a change in Chinese investors' priorities.
  2. Investors who rushed into Large Language Models (LLMs) in 2023 faced losses, signaling a shift in focus to vertical market segments.
  3. Zhu emphasizes the importance of discipline in investment decisions, with a focus on profitability and slower, more thoughtful investment strategies in 2023.

Don't Give Up

Venture Prose • 459 implied HN points • 04 Mar 24
💼 Business Investment
  1. In crowded markets, strive to show unique insight, act fast, and execute well.
  2. If there's a clear leader, consider different strategies - like targeting a different geography or being more capital-efficient.
  3. Entering small or tough market sectors can still work if you start niche, focus on profitability, and learn from previous attempts.

AI Roundup 150: Empire State Defiance

Artificial Ignorance • 88 implied HN points • 27 Dec 25
🕹 Technology Investment
  1. New York passed the RAISE Act forcing big AI companies to publish safety protocols, report serious incidents quickly, and face stiff penalties. It directly challenges federal efforts and could make state rules the de facto industry standard.
  2. Nvidia struck a $20B licensing deal with Groq to gain low‑latency chip designs and talent, showing a playbook of absorbing specialized rivals instead of fighting them head‑on. That move fills a gap for fast inference workloads and helps Nvidia protect its market lead.
  3. Autonomous AI shopping agents threaten to cut retailers like Amazon out of customer relationships and margins, so Amazon is blocking bots, suing scrapers, and building its own agent tools. The technology is still early, giving Amazon a narrow window to influence how agentic commerce develops.
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Cigna Healthcare said it will buy back $11.3 billion of its own shares of stock. That announcement made the company's CEO and other investors much richer.

HEALTH CARE un-covered • 759 implied HN points • 18 Dec 23
💰 Finance Investment
  1. Cigna Healthcare plans to buy back $11.3 billion of its own stock, making its CEO and investors much wealthier. This move increased the stock price significantly in just one day.
  2. The amount Cigna is spending on stock buybacks is more than many states' entire Medicaid budgets for the year, raising concerns about the priorities of the healthcare system.
  3. Some members of Congress are upset about Cigna's decision, stating it shows how large insurance companies focus on profits instead of improving healthcare for their customers.

Henry Huiyao Wang: Why China-Canada trade and global cooperation are now ripe for progress

Pekingnology • 52 implied HN points • 20 Jan 26
🌍 World Politics Investment
  1. China and Canada are moving to deepen practical economic and strategic ties, with tariff deals on electric vehicles and canola, an energy dialogue, security cooperation, and a renewed currency-swap arrangement.
  2. Both countries publicly recommit to multilateralism and plan to work together on UN and WTO reform and on plurilateral initiatives to support Global South development.
  3. A pragmatic "selective engagement" approach, backed by business interest and large diaspora links, creates a window to boost trade, investment, travel and people-to-people exchanges while balancing other partnerships.

Bitcoin DeFi (Part 1)

DeFi Education • 559 implied HN points • 02 Feb 24
🔮 Crypto Investment
  1. Bitcoin is seen as a strong foundation for decentralized finance because it's secure and valuable.
  2. There is a lot of unused money in Bitcoin, around $800 billion, that could potentially be used in DeFi projects.
  3. While both Bitcoin and Ethereum have good security, Bitcoin might be a better choice for building a safe DeFi system.

Philip Morris International: More More More

Invariant • 511 implied HN points • 11 Feb 24
💼 Business Investment
  1. Philip Morris International is focusing more on next-gen products like IQOS and its heated tobacco units, with efforts to transition users from traditional cigarettes - showing promise for future growth.
  2. Despite some challenges like higher costs and FX pressures, PMI is maintaining its position in the market by introducing innovative products and investing in its portfolio.
  3. ZYN, another product spreading rapidly, faces questions about its popularity among underaged consumers, but it still shows strong growth due to being a preferred choice over competitors.

❄️ ⚡️ Tesla et Chine, le bon moment pour investir ?

Snowball • 550 implied HN points • 28 Jan 24
💰 Finance Investment
  1. Tesla stock has dropped significantly, raising questions for long-term investors.
  2. The Chinese government aims to regain investor trust in their financial markets after a significant drop in the CSI 300 index.
  3. Generative AI is disrupting the entertainment industry, potentially leading to more immersive storytelling experiences.

Investors bet on Waymo's acceleration

Alex's Personal Blog • 98 implied HN points • 17 Dec 25
💼 Business Investment
  1. Big AI labs are deliberately diversifying cloud and chip partners and raising massive sums to secure compute capacity, which spreads vendor dependence across several big players. This reduces single-vendor risk but also deepens ties between top cloud and chip companies and the major AI models.
  2. The US is using public funds and joint ventures to build domestic critical-minerals processing capacity, backing a Korea Zinc-led smelter project with loans, equity stakes, and subsidies to onshore supply chains. That approach hands significant control to U.S. public and private actors while accelerating industrial capacity at scale.
  3. Waymo is gearing up to rapidly scale its fleet and expand into many new cities, including international markets, and is courting large financing at a roughly $100B valuation because investors expect quick revenue growth. Its main risks are eroding rider and regulator trust if it moves too fast and tougher competition from rivals.

Christmas Week Recap

DeFi Education • 679 implied HN points • 25 Dec 23
🔮 Crypto Investment
  1. The DeFi Education team has been very busy recently with lots of projects. They are working hard to make the most of the many opportunities available.
  2. 2024 is expected to be an extremely active year for the team. They plan to continue pushing forward with their initiatives and projects.
  3. Despite the busy schedule, they are committed to engaging with their audience and providing value through their work.

hypercapitalism and the AI talent wars

luttig's learnings • 499 implied HN points • 13 Jul 25
💼 Business Investment
  1. The competition for AI talent is intense, leading to huge salary offers, which can really shake up the trust between companies and their employees. It makes people wonder if mission or money matters more now.
  2. Big companies have an advantage in attracting top talent, which makes it hard for smaller startups to compete. They need strong missions and enough resources to stand a chance in this new market.
  3. Investors must adapt to this changing landscape, as the old rules of fundraising don’t apply anymore. They need to rethink how they evaluate companies, especially those focused on AI.

Why I Left Norway

Common Sense with Bari Weiss • 1553 implied HN points • 10 Dec 24
💼 Business Investment
  1. High taxes in Norway, including a new unrealized gains tax, made it hard for entrepreneurs to keep their businesses profitable and maintain ownership. They struggled to balance their income with the need to pay these taxes.
  2. Many successful Norwegian entrepreneurs are leaving the country to escape burdensome taxes, and this trend is affecting the wealth distribution in Norway. A significant number of top taxpayers have relocated to protect their wealth.
  3. The situation in Norway reflects a troubling pattern where government policies may stifle innovation and entrepreneurship. This has created an environment where those who want to build businesses feel they have no choice but to move elsewhere.

On investment firms, brand & reputation

Buggy Humans in a Messy World • 963 implied HN points • 23 Jun 23
💰 Finance Investment
  1. Investment firms may not have a brand, but they do have a reputation which is crucial in a commoditized business.
  2. An investment firm's reputation is determined by how well they behave and how they invest.
  3. Good behavior includes walking away from excessive fees and communicating honestly, while good investments involve associating with reputable businesses.

Top Links 807 Vietnam's manufacturing boom. Chongqing: China's motorcycle capita. The Walls Do Not Fall.

Chartbook • 443 implied HN points • 22 Jul 25
💼 Business Investment
  1. Vietnam's manufacturing sector is growing rapidly, making it an important player in global production. This boom shows how the country is developing its economy.
  2. Chongqing is known as the motorcycle capital of China, highlighting its significance in the motorcycle industry. This is a fun fact about a major city in China.
  3. The mention of myths and art from figures like Mark Rothko suggests that art can represent deep, universal ideas rather than just specific stories. It's about connecting with broader themes in humanity.

❄️ 📈 2 idées pour mieux investir

Snowball • 491 implied HN points • 30 Jan 24
💰 Finance Investment
  1. Long-term investing is key; avoid focusing solely on short-term gains.
  2. Consider the Lindy Effect when evaluating investments for durability and resilience.
  3. Focus on quality, stability, and long-term value when selecting assets for your investment portfolio.

Top Links 795 How global bond markets closed for low-income borrowers and then reopened. Selling ICE fossils to Russia. China's AI competition & One Art.

Chartbook • 472 implied HN points • 10 Jul 25
💰 Finance Investment
  1. Global bond markets have shifted, closing previously to low-income borrowers, but they have now opened up again. This change can affect how governments of poorer countries manage their debt.
  2. The topic of selling fossil fuels to Russia is being discussed, highlighting the complexities of international trade and its implications on climate change.
  3. China's competition in AI is growing, showing how important technology is in today's world economy and how it can impact various sectors.

Spotlight: Adam Niewiński - Co-founder and Managing Partner @ OTB Ventures

Space Ambition • 119 implied HN points • 14 Jun 24
💼 Business Investment
  1. Investments in SpaceTech are expanding, especially in areas like in-orbit economy and debris removal. This is important for making space activities sustainable.
  2. European DeepTech startups are well-positioned to compete globally, but they need better funding and support from institutions. There's a gap in spending compared to the U.S.
  3. Investing in specialized areas like Industrial Automation is promising due to the massive data generated. Innovations in this sector can lead to smarter operations and decision-making.

Genesis Wins Court Ruling to Sell Tranche of GBTC Shares

Bitcoin Magazine Pro • 432 implied HN points • 09 Feb 24
💰 Finance Investment
  1. Genesis won a court ruling to sell millions of GBTC shares, aiming to reimburse creditors and stabilize Bitcoin's price.
  2. A large sale of GBTC triggered a market decline for both GBTC and Bitcoin in the past, causing concerns within the Bitcoin community.
  3. Despite legal disputes and setbacks, Genesis is moving forward with plans to sell GBTC to settle debts, potentially impacting Bitcoin's valuation.

The Financial Sector

In My Tribe • 425 implied HN points • 15 Jul 25
💰 Finance Investment
  1. Usury, or charging interest, has been historically frowned upon, especially when lending to those in need. Nowadays, people often borrow for various reasons, making this taboo less relevant.
  2. Banks play a crucial role by offering services like checking accounts and loans, balancing risky long-term loans with immediate access to funds for customers. They use strategies like diversification and relationships to manage these risks.
  3. The relationship between banks and government is vital for stability. Trust in both can lead to a healthy economy, while a lack of confidence can cause financial crises, as seen in events like the 2008 financial crash.

Top Links 804 A quadrillion dollar market. The NHS, the UK's national religion, in crisis & development as the "master key".

Chartbook • 414 implied HN points • 19 Jul 25
💰 Finance Investment
  1. The global cross-border payments market is massive, nearing one quadrillion dollars in value. This shows how much money is moving between countries and how important it is for businesses.
  2. The National Health Service (NHS) in the UK is facing significant challenges, which adds complexity to public health in Britain. Its importance in society makes these issues particularly impactful.
  3. Understanding the evolution of financial markets and systems, including traditional and cryptocurrency payments, is key for grasping modern economic trends. These shifts can change how we think about money and transactions.

❄️💖 380 ans d'utilité publique. Un coup de cœur.

Snowball • 471 implied HN points • 23 Jan 24
💰 Finance Investment
  1. Learn about the Crédit Municipal de Paris, an institution with over 380 years of history providing various financial services.
  2. The Crédit Municipal offers services such as quick loans against valuable items, financial counseling, auctions, and ethical savings options.
  3. The institution aims to innovate and modernize its services, while maintaining a focus on social impact and financial empowerment.

OpenAI is coming for the app layer

Alex's Personal Blog • 131 implied HN points • 17 Nov 25
🕹 Technology Investment
  1. OpenAI is aiming to dominate both consumer and enterprise AI markets. They believe they can create valuable tools for everyone, not just the wealthy, and want to monetize these opportunities.
  2. Nvidia's upcoming financial results are highly anticipated, as they could impact the perception of the AI market. Their growth and demand for AI products might influence investor confidence significantly.
  3. Startups in the AI space face tough competition from giants like OpenAI and Anthropic. Those focusing on niche applications may have better survival chances, while broader ideas might get absorbed by larger companies.

Top Links 765 Military R&D in America. Nigeria's investment plans. The "imperial meridian" and Nelson on the mosquito coast.

Chartbook • 515 implied HN points • 10 Jun 25
🇺🇸 U.S. Politics Investment
  1. The U.S. military invests heavily in research and development to stay advanced in technology and defense. This helps keep the country safe and operates effectively.
  2. Nigeria has exciting plans for investment that could impact its economy and future growth. It's important to watch how these investments develop.
  3. The history of the U.S. military-industrial complex shows how it was reduced in the 1990s, which is interesting for understanding current military funding and operations.

❄️ 🐣 Comment investir l'épargne des enfants ?

Snowball • 825 implied HN points • 14 Sep 23
💰 Finance Investment
  1. Consider investing children's savings in the stock market for long-term growth potential.
  2. Opening a brokerage account in your name to hold ETFs or stocks for your child and then gifting it to them can be a tax-efficient way to invest for their future.
  3. Ensure to handle legal aspects like declaring the donation to the tax authorities and consider equal distribution among multiple children to avoid inheritance disputes.

✨🎈 If the AI boom goes bust, then what?

Faster, Please! • 365 implied HN points • 04 Aug 25
🕹 Technology Investment
  1. Bubbles in the economy can sometimes lead to positive changes. They might seem scary, but they can drive innovation and infrastructure.
  2. The current boom in AI might look like a bubble, but it could still create benefits in the future, even if some companies fail.
  3. Investors shouldn't always fear bubbles; they can lead to significant advancements and growth in the economy.

Problems at 130 Long-Term Underperformers

The Bear Cave • 419 implied HN points • 03 Jul 25
💰 Finance Investment
  1. The report lists 130 companies that have performed poorly over the long term. They looked at companies in the S&P 1500 that have not seen their revenues grow.
  2. Experts reviewed many sources to understand why these companies are struggling. They checked employee reviews and press coverage about the companies' management.
  3. This analysis is useful for short-sellers who want to know why these companies might keep failing in the future. It's a great read if you're looking for investment insights.

🧑‍🏫 Business Model

Compounding Quality • 432 implied HN points • 25 Jan 24
💼 Business Investment
  1. Understanding a company's business model is essential before investing.
  2. A simple and attractive business model is preferable for investments.
  3. Mastercard's business model revolves around transaction fees and providing payment services worldwide.

The Difference Makers: Key Person(s) Value!

Musings on Markets • 579 implied HN points • 10 Dec 23
💼 Business Investment
  1. Key people can significantly impact a business's value, whether it's a small practice like a doctor or a large company like Tesla. Even at bigger companies, certain individuals can make a big difference in how the business performs.
  2. Understanding who key people are in a company is crucial. These can include founders, top management, or even important employees at different levels who contribute unique skills.
  3. Companies can take steps to manage the risks that come with relying on key people, like using insurance or succession planning. These strategies can help ensure that the loss of an important individual does not as heavily affect the business.

Tech Overload: Business Goes Under Water

Sector 6 | The Newsletter of AIM • 479 implied HN points • 08 Jan 24
💼 Business Investment
  1. OpenAI is expected to make $1.6 billion in revenue in 2024, which is a big jump from last year. This money comes mainly from subscriptions and API sales.
  2. Anthropic, another AI company, might make $850 million in 2024, up from just $100 million last year, showing huge growth in the AI market.
  3. Building advanced AI models is very expensive; for example, OpenAI spent $10 billion to develop its technologies, which highlights the massive investment needed in this field.

TBM 339: Update and Clarifications

The Beautiful Mess • 978 implied HN points • 09 Feb 25
💼 Business Investment
  1. This newsletter is independent of the author's employer, Dotwork, and he writes what he chooses without being paid for it.
  2. Dotwork is a startup that creates tools for product strategy and development, allowing teams to customize their work tools to fit their needs.
  3. The author enjoys sharing what he learns each week and believes in giving valuable content for free, trusting that good things will come back in the future.

Top Links 798 A poor start for the dollar. Lighting up Africa. Estonian barbed wire. The Chinese in Vietnam.

Chartbook • 386 implied HN points • 13 Jul 25
💰 Finance Investment
  1. The dollar has had a really bad start this year, worse than it's been in over 50 years. It's dropped more than 10% compared to other currencies lately.
  2. There are discussions about various topics like the situation in Africa and the role of Chinese people in Vietnam. These issues are gaining attention around the world.
  3. Estonia's use of barbed wire is mentioned, likely highlighting security or political concerns in the region. This could be relevant to current events in Europe.

The Oddest Man Out Among Our $Hundred-Billionaires: Elon Musk

Brad DeLong's Grasping Reality • 492 implied HN points • 04 Jun 25
💼 Business Investment
  1. Elon Musk's wealth, largely tied to Tesla, is facing challenges as the company’s profit growth may not continue. The recent surge in Tesla's sales was helped by market conditions and celebrity status, but that charm seems to be fading.
  2. Many billionaires, especially those in tech, have consistent income from their businesses. In contrast, Musk's financial future looks uncertain as competition in the electric vehicle market increases and his brand image shifts.
  3. The reasons people used to buy Teslas included its innovation and eco-friendliness. Now, with Musk's controversial actions, many of those who once supported the brand are distancing themselves, which could hurt Tesla's future sales.