Investing is how I test where I think technology creates value. I publish anonymized private-market memos here.

I care more about whether the logic holds up than whether the price agrees next month. If you see a hole, tell me.

One constraint matters: my career and my portfolio are often the same bet. I want the upside from tech without putting myself in a position where a bad cycle forces me to sell.

I’m building Earnings Summary as the research desk behind my investing process. It keeps the evidence, assumptions, and thesis changes in one place so I can stick to my principles and see when my thinking has changed.

How I invest

• Survive first. I keep broad market exposure and investments that don’t depend on U.S. tech doing well. The point is to stay in the game when my favorite ideas are wrong.
• Earn concentration. Every position needs a view on the company, its execution, and the price. Larger positions need stronger evidence. A good story isn’t enough.
• Price changes the answer. When the price changes, so does the expected return. Position size should change with it.
• Treat private investments as tuition. I get access to decks, models, and ambitious builders. I also assume every check can go to zero. Some days this is learning; some days it’s socially acceptable gambling.

Public portfolio reports

Over the next few months, I plan to publish anonymized monthly portfolio snapshots and deeper quarterly reports through Earnings Summary. They’ll cover holdings, thesis changes, and performance.

Known risks

• Career correlation. A tech downturn can hit my income and investments at the same time.
• Concentration. A broad U.S. index already owns many of the same large tech companies I follow.
• Optimism. I can mistake a product I like for an investment worth owning.
• Liquidity. Private investments can take years to return cash, if they ever do.