Invest Like the Best

Patrick O'Shaughnessy × Dara Khosrowshahi

Uber is making AV supply its moat through 30+ partnerships, financing, depots, charging, and insurance; network vehicles are 30% or more busier, improving fleet ROI.The upside is a potential trillion-dollar marketplace, but AI budget overruns, Chinese manufacturing advantages, social backlash, and execution in Uber One and hotels remain risks.

Patrick O'Shaughnessy × Henry Ellenbogen

Ellenbogen’s research found that about 40 stocks—roughly 1% of the market—compound at 20% annually over rolling 10-year periods, with 80% starting as small caps.Durable concentrates on these outliers as machines dominate short-cycle flows, while AI reshapes knowledge labor and robotics could deflate costs 15–20% annually, making company adaptation and drawdowns key watchpoints.

Patrick O'Shaughnessy × David George

George argues consumer AI’s monetization ceiling remains unproven: ChatGPT likely reached Google’s scale roughly 4x faster, with a billion users but fewer than 50 million monetized.His broader signal is that markets still underprice growth above 30%, while AI’s winners may be concentrated at the leader or fragmented across the model layer, making business models and robotics timelines key risks to monitor.

Patrick O'Shaughnessy × Darren Farber

Defense is repricing its 80-year security bargain, but the investable bottleneck remains replacing legacy programs rather than the headline $858 billion budget.Commercial technology, autonomous mass, and industrial scale can create overmatch, while Farber favors one-of-one suppliers near the molecule, backed by long contracts, low replacement cost, and reinvestment rather than prototype novelty alone.