Winter's afternoon at Bondi Beach, what's not to like? http://t.co/BcxJxj8Yn4

The bigger issue is startups. They run at a loss for number of years while valuation increases. Founders will be forced to sell shares early to pay for gains that may never realise. They will move offshore, VC will be impacted here as a result. AUS Innovation will be stunted. 2/2

Am increasingly concerned about the proposed tax on paper gains in super where balances exceed AUD$3m. Sure only a small fraction of people will be affected now. The threshold is not indexed, many in Gen Z and later will get be affected - a long term problem BUT… 1/2

AI lowers the barrier to getting started on anything, which means people start doing far more. But to do great work still has a long tail of execution, judgment, creativity, and knowledge about the specific domain, which means AI replaces far fewer jobs than we think.

R&D investment in Aus is too low. Only 1.7% of GDP goes into R&D and it's declining, while other nations are charging forward - Korea 5%, Taiwan 4%, US/Japan/UK ~3%, China 2.5%... 🧵...

Next stop off to late night chemist for some antibiotics and steroids - total cost there was AUD$37 - all done and sites by 8:40pm. So all up AUD$47 or USD$30 to get diagnosed and treatment in 40minutes. Brilliant. 2/2

Have to love Aussie Medicare. One of my kids is ill, did AUD$10 home test that came back -ve for Covid as well as Influenza A&B - so off to our local Bulk Bill Dr at 8pm. See a Dr there at 8:10 and get diagnosis (no copay as it is bulk bill) 1/2

Australia's largest companies are banks, supermarkets, a mining Co and a toll road. Taiwan's largest companies manufacture semiconductors, electronics and cars. One is scalping its hostage citizens with price gouging and the other's innovation makes it competitive on world stage

Moonrise over Curl Curl beach after a lazy Sunday. #northernbeacheslife

Agree 2024 will be very interesting. Current price declines will have or are about to shutdown high cost producers.... reckon the pendulum could well swing back hard to high prices in short order

Great tome@of@the year in Sydney when the Jacarandas bloom any lay lavender carpets on the ground

So I learned today that about 20yrs ago a big hurricane emancipated a bunch of chickens that were never rounded up on Kauai - which is now the home of an abundance of free range fowl and felines. Never seen so many well fed happy chickens and cats on the prowl ever!

Up to 2005: Silicon Valley is virtually unchallenged 2005-2015: Adyen, Spotify, Just Eat Takeaway, are category leaders Last 7 years: 30% of global seed investment goes to European startups Europe today: largest ever pool of startup talent, experienced VC scene, the highest

Lower end of market is exposed most and will feel pain first - if folks there capitulate this could ripple through mid and then higher end of mkt. If we see big surge in unemployment that leads to top end jobs layoffs then middle to top end could follow. Watching closely… 2/2

Lots of talk that Aus housing mkt has bottomed out, modest rises and increasing clearance rates cited. One should also consider very low stock levels and large number of fixed mortgages resets still to be triggered. Potential still for falls to resume if rates stay/go higher 1/2

Big day at the Australian Space Summit - here’s the engineering model for the ⁦@waratahseed⁩ mission, Australia’s first ride share mission

The need for smarter innovation by efficiently connecting industry with Universities is increasing. We need greater collaboration between Unis to meet Industry needs - we need to Unis to understand market pull and not just push. #betterquestions #biggerimpact Watch this space…

Humans + AI also beats AI.

I have asked a number of CEOs now if they had to lay off a pool of workers would aggressive users of AI be in the laid off pool? No, I hear from everyone. I haven’t had a single CEO yet say that the AI worker would go. They know that even if the AI did every task perfectly

. @cjoye Don’t disagree on tension between employment and inflation. Interested on yr thoughts on rates wrt 1) delta between US and AUS rates + 2) terms of trade as AUS battery metal exports supplant iron ore / coal. Big delta = push to raise? good terms = opportunity to cut?

Yes especially when one considers that the recent small rise in house prices needs to be juxtaposed with low clearance rates and low stock levels - some buyers but very few sellers tends to see support for prices.