Invest Like the Best with Patrick O'Shaughnessy

Full ownership enables radical autonomy - By avoiding venture capital, Hockey can ignore Silicon Valley's consensus culture and focus on building deep, boring financial infrastructure without the pressure of typical VC exit timelines.

Entrepreneurship has become too safe - The current venture ecosystem often shields founders from real personal risk, which Hockey argues leads to a lack of specialist-led innovation compared to the high-stakes environments of emerging markets.

The US Dollar is the world's ultimate OS - Insights from emerging markets reinforce that the dollar remains the foundational layer of global commerce, making the modernization of its underlying software pipes a massive, overlooked opportunity.