passive investing doesn't work: top coins by market cap have returned an average of 0%

Mr. Buffett, on June 23, 1999:

"If I was running $1 million today, or $10 million for that matter, I’d be fully invested. Anyone who says that size does not hurt investment performance is selling. The highest rates of return I’ve ever achieved were in the 1950s. I killed the Dow. You ought to see the numbers. But I was investing peanuts then. It’s a huge structural advantage not to have a lot of money. I think I could make you 50% a year on $1 million. No, I know I could. I guarantee that."

""
It isn’t actual artificial intelligence akin to C-3PO, it’s a sophisticated pattern-matching tool.

Rather than seeing exponential improvements in the quality of AI performance (a la Moore’s Law), we’re instead seeing exponential increases in the cost to improve AI systems — supervised ML seems to follow an S-Curve.

our heavy investment into safety didn’t translate for investors.

It took me way too long to realize that VCs would rather a $1b business with a 90% margin than a $5b business with a 50% margin, even if capital requirements and growth were the same.

Investors were impressed. It didn’t matter that that jump from “sometimes working” to statistically reliable was 10–1000x more work.
""

Marc Lasry, who made a fortune buying up troubled assets, told CNBC on Monday that investors who do not need returns right now should put money to work in the recent coronavirus-driven stock market slide.

"The market is definitely going to be higher at the end of the year," Lasry said on "Fast Money Halftime Report." But he said he believes there's going to be more near-term downside.

"You're never going to be able to time this thing," he said. "If you know that you don't have to sell next week, then I would absolutely be a buyer. Should you start coming into today? Absolutely."