On-off Switches and... We're Back!

Steve Jobs didn’t put switches on Apple devices because “it just turns off and you’re done.” Turns out Substack didn’t either… and we’re back!

“perhaps it’s like an on-off switch… Click! And you’re gone… Maybe that’s why I never liked to put on-off switches on Apple devices.” —Steve Jobs (Walter Isaacson Biography)

Hey everyone,

Many of you have sent me emails/DMs asking me about when I would send out the next letter, and I realized my last email wasn’t clear. The 2023 Index and Wrap-up was a wrap up for not just the year, but the newsletter as well. And Letter #150 was the final one.

I initially set out to make this newsletter for two reasons: 1) keep in touch with existing friends, and 2) make new friends. However, I’ve realized that 1) it’s better to text my friends directly, and 2) most people are passive readers and will never engage. As such, there was no real reason for me to continue this newsletter.

That said, since stopping, I’ve received a number of wonderful emails from people about how this is their favorite newsletter and sharing some of their favorite learnings and how they’ve actually applied those learnings in building companies, making investments, and just living their lives. Multiple people even asked me to continue, even if as a purely paid newsletter.

In fact, given the interest I’ve received, I’ve decided to restart the newsletter. However, this was never meant to be a paid newsletter, and I have no intention of making it so.

I have, however, turned on “subscriptions” as a means of measuring engagement and keeping myself accountable as it becomes more and more time consuming to sift through more letters. All letters will remain free, and everyone will get two a week. If you do choose you subscribe, you can think of it as buying me a coffee for my efforts.

To be clear: This newsletter is free and any subscription would just be a token amount to cover some overhead, keep me accountable, and measure engagement.

Thanks for reading, and I’ll see you all on Tuesday.

In the meantime, feel drop me an email or DM if there’s anyone in particular you want to see a letter from, and check out some of my other projects:

• Compilations — “Everything anyone has ever written. An absolute treasure.”

• Speedwell Research (Paid) — Comprehensive research on great public companies including Constellation Software, Floor & Decor, and Meta (Facebook), as well as interesting new frameworks like the Consumer’s Hierarchy of Preferences (free).

• The Synopsis (Apple, Spotify) — Free podcast accompanying Speedwell Research. Includes long-from (2 hour) podcasts on our reports including Meta, RH, and Copart and short-form (<30 min) readings of our memos.

• Cloud Valley — “Beautifully written.” In-depth biographies that explore the defining moments, investments, and life decisions of investing, business, and tech legends like Dan Loeb, Bob Iger, Steve Jurvetson, and Cyan Banister.

• Memos — A selection of some of my favorite investor memos.

• Bookshelves — Collection of recommended booklists.

• DJY Research — Comprehensive research on publicly-traded Asian companies like Sea Limited, Coupang, and more.

• Twitter — DM me.