And so if you don’t hedge power, we know that the probability of index settling low on any one month is maybe 20%.
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If you acquire six businesses at 2x EBITDA, private equity will buy the whole thing from you for 12x. It’s basic math.
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And so by combining GPT-3, GPT-4, and GPT-4o, you can actually get all the capabilities of GPT-11
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If we add 1 new payor a month that each has 50M covered lives, we’ll cover 600M US lives after Year 1
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"...and that's the beauty of Private Credit. You make one loan at 20%, then a second at 20%...that's 40%...by the time you've made your 6th loan you are making 120%."
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