I had the incredible privilege of getting to know Peter Thiel and investing in one of his funds (Clarium). He’s hands-down the best investor I’ve ever met, and here’s why: 1. Unmatched Edge Across Disciplines: Peter’s ability to lead in multiple fields is rare. He’s well-known for VC, but his macro investing is just as impressive. He was early and right on major trends: e.g. oil through Canadian oil sands in the early 2000s and predicting the 08 crisis. Tends to be very early and often with non-consensus views. 2. Massive Risk Tolerance: At Clarium’s peak, managing close to $9b, Peter ran it with a 50-60%+ vol, unheard of in the macro space. His high-conviction, concentrated bets and willingness to weather volatility until proven right was extraordinary. 3. Brand Power: un-matched with unique edge in sourcing deals and attracting top talent. Fun fact: his macro fund went through a tough time towards the end of the GFC and Peter rewarded his loyal investors (not many were left) with access to Palantir while it was still private, at a mid-single-digit price. Those who stuck around clearly did very well. I see parallels with Multicoin in the crypto space: 1. Rare Edge in Crypto liquid & VC: driven by the complementary strengths of Tushar (liquid) and Kyle (vc). Like Peter, they’re often early and non-consensus. 2. Massive Risk Tolerance: They make concentrated bets and embrace volatility to prove their theses right. 3. Brand Strength: sourcing edge and ability to maintain a low turnover within the team. Peter remains my #1 across all markets, but Multicoin is @L1D_xyz's largest position. We constantly underwrite it and believe they have what it takes to be a multi-cycle outperformer in crypto. That said could be wrong, so let's see how it plays out.