Patrick O'Shaughnessy

Where they publish

• x.com @patrick_oshag His own notes on investing, often the seed of a later podcast episode.

  Short-form writing in his own voice, unlike the podcast where guests do most of the talking.

  Open x.com

  Recent

  • Christina Cacioppo on high growth v. high margins: "I think in the fullness of time, an 80% growth business with 80% margins will actually be better than a 160% growth business with 30% margins. One of these will return more cash in the fullness of time. But today the latter is valued at 10x the multiple of the former. And so there's a part where everyone's being irrational here. And then there's a very clear game-on-the-field piece. If you need to be financed, you're looking at investors today, many of whom are AI maximalists, that are like, 'We'll invest in the labs and we'll invest in trac… 21 Oct 2026
  • Christina Cacioppo on why Vanta is eating its token costs: "If you try to charge people based on tokens, they are very quick to say, 'Oh, you've just marked up a Claude token 4X. Are you 4X as good as Claude?' You actually put yourselves in a competitive position against the models that probably no application really wants to do. We're eating the token cost right now. We're taking lower margin. This is a usage phase and a deployment phase of this technology, and just go nail that, and you can figure out commercialization after." 20 Oct 2026
  • Christina on why Vanta pays its top people 10x what it did five years ago "Should I adjust the pitch and be like 'Inevitably the baseline here is Vanta's 50 billion. The real question you should be considering is if you join, can you take us on a journey to 250 billion?’ Should I start saying that? Probably not. But the answer is not definitely not. Because that is the pitch that people who work at Vanta are getting from other companies. The market now is saying that so much, you do seem unambitious. Total comp, it's probably like a factor of 10. I think it actually should be higher. My gener… 20 Oct 2026

  Show 17 more

  • Christina Cacioppo on why French software companies have stopped building on American models: "I was very surprised to learn a lot of the French software companies are using Chinese models predominantly. I was with our customers in France...and someone said, 'We all switched to Chinese models when Trump closed Fable off to non-Americans. We just realized there's a huge business continuity risk. We can't trust that if we build a business on one of these American models, it'll always be available, so we stopped doing that.'" 20 Oct 2026
  • Charlie Songhurst on why "boring and complex" companies may offer the best returns 20 Oct 2026
  • My second conversation with Christina Cacioppo (@christinacaci), Vanta's cofounder and CEO. Charlie Songhurst says the best returns come from companies that are highly boring and highly complex, because fewer founders want to build them. Vanta is one of those companies. When we first talked five years ago, Christina told me about building the first version of Vanta in Excel. Since then she has turned it into the category leader in security compliance. Now she is rebuilding it around AI. We discuss: - Why great software businesses got cheap - Why Vanta eats the cost of AI instead of marking it… 20 Oct 2026
  • Whoever does the ads at Ramp is a special talent 19 Oct 2026
  • An amazing profile about someone unwilling to compromise 18 Oct 2026
  • Going to just keep recommending this incredible product. I’m an investor in the company but moreso just an avid fan of the team and the product. If you have a loved one with hearing loss, you need to try these. Life changing. 16 Oct 2026
  • David Vélez on why stablecoins could save the US dollar: "There are about 190 currencies around the world. My view is that in 10-20 years from now, those 190 will be 10. The fiscal situation in so many countries around the world is so dire that a lot of that fiat money is not real money. And so increasingly, billions of people are going to be banking on the offshore world, US stablecoin, but also Bitcoin and other type of assets. I think the US stablecoins ultimately will be the big savior or one of the biggest saviors of the US dollar, because it democratizes access to the US dollar. At leas… 14 Oct 2026
  • Ben is a wonderful guy He’s in the midst of a very hard time If you can help him in any way, please do Ramp, Deel, and AppLovin all gave 100k just now The $ will help him pay for life extending medicine and help his family 14 Oct 2026
  • Jeremy Giffon (@jeremygiffon) on how X is still underrated and how the timeline dictates policy and capital: "X is the global newspaper. All the most important people in the world, at least when it comes to capital markets, politics and journalism, entrepreneurship, technology — they're reading their daily paper every morning. These things really form opinion, they price securities, they dictate where capital flows and they certainly write policy. People are still very much underestimating how much policy gets dictated from the timeline, how much venture rounds are done on the timeline, how m… 13 Oct 2026
  • David Vélez on how AI let him go from one direct report to 20, and cut Nubank's layers of management in half: "AI creates the opportunity for larger span of control, less managers, much more visibility. I personally went from having one direct report to 20 direct reports over that period, because it just increases your ability to operate horizontally. We went from 10 layers to five. The easy answer when things are on fire is to just add managers to solve the fire immediately. And partly what AI creates is allows you to take a step back and reinvent everything about your businesses, and this w… 13 Oct 2026
  • The most important lesson David has learned as a founder: "How to quickly ignore the imposter syndrome. The fact that you are the person that had the vision and the energy to build something out of nothing, to give birth, means that that already is giving you a level of care for that company so high that it will make you become the right leader for a very long time. I don't think anybody in the world cares as much for this company as I do. To a level that is almost visceral. That will make you put so much energy and focus to make it successful, to the point that that ultimately is what is goi… 13 Oct 2026
  • David Vélez on why AI makes remote work less valuable: "AI also in a perhaps counterintuitive way, increases the argument to spend time in person more. Because increasingly the work that AI can do is more or less the work that people at home individually could do. And so the individual at home will be competing with AIs, and we'll lose that battle. But the work around collaboration and coordination in presence physically is something that needs to be happening inside the office." 13 Oct 2026
  • My conversation with David Vélez (@velez_david), founder and CEO of Nubank. The last time we did this was five years ago, and Nubank had 35 million customers. Today it has over 140 million, and it has just announced it's coming to the US. David now talks about expanding to 100 countries and reaching a billion customers. We discuss: - State and future of global banking - Agents as a customer segment - Going from one direct report to 20 - How he's rebuilding the company with AI - Where fintech opportunities remain - The end of cash - Founder v CEO, great leadership, and finding the right missio… 13 Oct 2026
  • Andrew Huberman on how Silicon Valley changed after Steve Jobs: "What's unique about the Bay Area is that people care about the past, but it's really about what's happening now and the future. There's not a lot of pomp and circumstance. If you were to go to Cafe Borrone in Menlo Park in the early 2000s, you'd see somebody who had founded a huge company and is a billionaire, and they were just around. No one cared. What's changed since Steve Jobs is that now the technologists are celebrities. In the Bay Area, it used to be you wanted to do something that exported everywhere, but you were sort… 7 Oct 2026
  • Favorite quote from the episode "The only thing that's going to determine your success is how badly do you want to know the answers to the questions that you're working on?" 7 Oct 2026
  • Andrew Huberman on @neuralink, and the next frontier for brain-computer interfaces: "Getting people who are in locked-in syndrome to speak, or getting people who have a spinal injury to walk, which Neuralink and others are trying to develop technologies to do. That's heroic. @elonmusk obviously understands what he's trying to achieve with Neuralink, and he's extremely savvy with respect to what can be done now, where we need to go. I think the coolest problem that's also the biggest problem is how we can noninvasively write to the nervous system in sleep and waking states. Who can develop, it… 7 Oct 2026
  • Very fun one w/ @altcap , out next week 6 Oct 2026

  Link verified 8 Sept 2026. Recent items update automatically from the channel.

• Podcast Invest Like the Best He interviews investors and founders. The guests do most of the talking; his own views surface in the questions.

  Nearly 500 episodes of long-form conversation with investors and business leaders. As the interviewer, this is mostly the guest's voice rather than his own -- for his own words, see his X account.

  Open colossus.com

  Recent

  • Christina Cacioppo - Building an Enduring Software Company in the Age of AI - [Invest Like the Best, EP.496] 20 Oct 2026
  • David Vélez - Building Nubank and the Future of Global Banking - [Invest Like the Best, EP.495] 13 Oct 2026
  • Andrew Huberman - The Frontier of Neurotechnology - [Invest Like the Best, EP.494] 6 Oct 2026

  Show 17 more

  • Noah Shinn - Building Instinct: The Personal Agent - [Invest Like the Best, EP.493] 28 Sept 2026
  • Michael Moritz - Lessons From 40 Years of Investing and Writing - [Invest Like the Best, EP.491] 16 Sept 2026
  • Walter Russell Mead - How America Keeps Winning - [Invest Like the Best, EP.490] 8 Sept 2026
  • Sarah Guo - Funding the Frontier - [Invest Like the Best, EP.489] 1 Sept 2026
  • Neil Movva - Making AI 10x Cheaper - [Invest Like the Best, EP.488] 25 Aug 2026
  • Ben Thompson on Big Tech, China, and the AI Boom Running Out of Money - [Invest Like the Best, EP.487] 18 Aug 2026
  • Eric Vishria - A Decade of Lessons Investing in Software & Hardware - [Invest Like the Best, EP.486] 11 Aug 2026
  • Sam Altman - How to Make an Abundant Future - [Invest Like the Best, EP.484] 28 Jul 2026
  • Matthew Smith — Natural Gas: The Next Bottleneck - [Invest Like the Best, EP.483] 21 Jul 2026
  • John Kim - How to Raise a Few Billion Dollars - [Invest Like the Best, EP.482] 14 Jul 2026
  • Jeremy Giffon - The Billion Dollar PDF - [Invest Like the Best, EP.481] 7 Jul 2026
  • Etched - Building AI Hardware to Make Inference Faster and Cheaper - [Invest Like the Best, EP.480] 30 Jun 2026
  • Vlad Barbalat - Investing $120 Billion in Permanent Capital - [Invest Like the Best, EP.479] 23 Jun 2026
  • Kareem Amin - The Unusual Approach to Company Building - [Invest Like the Best, EP.478] 16 Jun 2026
  • Alex Sacerdote - How to Invest Through Technology Cycles - [Invest Like the Best, EP.477] 9 Jun 2026
  • Dara Khosrowshahi - Uber's Bet on AVs, AI, and Building a Super-App - [Invest Like the Best, EP.476] 3 Jun 2026
  • Dan Loeb - Lessons from 30 Years of Investing - [Invest Like the Best, EP.475] 28 May 2026

  Link verified 8 Sept 2026. Recent items update automatically from the channel.