One

way to get into that is to notice that in the 1760s and 70s, Americans had the highest income of any large nation on the planet.

They'd been here for just 150 years.

It had been a raw wilderness.

And they had built through many innovations in business.

They were the first to use paper money, backed not by gold but by land, to stimulate the economy.

And they'd done it in some colonies poorly, in some colonies well.

But I'm not saying that's not a fair criticism, but talk a little about that.

I think something's going to happen, therefore I'm going to do something with my money so that I can make money on that assumption.

I think it's the case that that was my biggest position ever.

We had a big stake in Twitter.

I was fascinated by it.

I mean, one thing that you can kind of lean into a little bit is you know, situations you ask yourself, if nobody asked you to do something and there was no money at stake, what would you be reading about anyways? And if you can kind of overlap that a little bit with something professional, that's a nice way to have a life.

And in my case, I like process.

I like contracts.

So can you talk a little bit about that to our audience? How do they put that into perspective? And let's talk about how you assess your safety in order for you to have as much conviction as you do about these investments.