Jam Spread @jamspread27

i love m&a, rx, activism, corp strat, ipos, buyouts, special sits, venture/crossover, growth, secondaries, dl & opp credit, pure l/s, merger arb, macro, and ai l/s @ pod; ex-ivy, eb & mfpe Joined October 2026

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Jam Spread @jamspread27

2 days ago

it would be quite an uphill climb. Managers are going to have to provide liquidity windows to allow redemptions (ideally through organic growth of the asset) to avoid fire sales and bankrupting the evergreen CV

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Jam Spread @jamspread27

2 days ago

Evergreen CVs (CV^2). Will this be a graveyard for PE ShitCos? (I'm looking at you Orlando Bravo <joke>). Well, actually CV^2 is less suited for ShitCos (traditional 1-2Y LPAC-approved fund extensions are a better choice). If a GP painted a shitter as a "trophy asset,"

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Jam Spread @jamspread27

2 days ago

YEARS of raw fleet mile data. Now, a WM can do this. Also, prev. real physics and lighting that models trained on didn't transfer well to actualy roads. WM's 3D reconstruction preserves, texture, geometry, and dynamics of actual environments.

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Jam Spread @jamspread27

2 days ago

Rivian world model acquisition deal rationale: WM uses real video (Riv collects 400K data sequences daily from consumer fleet) to create a photorealistic, re-rendable 3D simulation. Edge cases (a kid running onto road at night with heavy rain from behind a parked car) requires

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Jam Spread @jamspread27

2 days ago

Luxury brands losing share in China. Chinese urban middle class drives most disc. spend. CPI has been poor past 10 quarters. Consumers are in classic deflationary psychology mode: "we'll buy later when prices are better." Youth unemployment is ~16.9% (March). Thrifting in season.

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Jam Spread @jamspread27

2 days ago

Would have loved to hear IC's concerns about the possibility of rogue dogs being created when underwriting Warhound. I suppose Anduril's tech would help intervene and handle the erratic behavior. But this sounds like something out of a sci-fi movie lol

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Jam Spread @jamspread27

3 days ago

Dan's AI outlook: Hyperscalers are becoming structurally poor businesses (inc. CapEx, ROIC compression, moat -> Dep. schedule). He also warned a semi-showdown with China could result in a depression-type economy. Value to the model layer, not the toll-collectors who finance it.

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Jam Spread @jamspread27

3 days ago

In 2024, the public book rose 44% on Euro stock picks. Fast-forwarding this year, his privates included SpaceX, OpenAI, and Anthropic (adding Anthropic when ppl called it the Lyft to OpenAI's Uber).

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Jam Spread @jamspread27

3 days ago

Publics span nearly every industry, avoiding consensus names. Formerly, D1 suffered a historic drawdown from the $GME squeeze (300-400%+ in 2 wks). D1 also struggled in 2022 w/ heavy markdowns in privates, causing him to reduce his private exposure in 2023.

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Jam Spread @jamspread27

3 days ago

The conventional view of Coatue as a Tiger Cub L/S shop with a venture annex misrepresents the architecture. It is a single information loop engine. late-stage AI rounds inform the public book, and the public book’s liquidity underwrites the right to keep writing the rounds.