Investor Letters

Letters	Date	Companies
2Q 2025 Investor Letter	July 10, 2025	Google’s Antitrust Battles
1Q 2025 Investor Letter	April 15, 2025	Block (XYZ)
4Q 2024 Investor Letter	January 7, 2025
3Q 2024 Investor Letter	October 11, 2024	Visa (V)Pinduoduo (PDD)Charter Communications (CHTR)
2Q 2024 Investor Letter	July 5, 2024	Alibaba (BABA)Pinduoduo (PDD)Salesforce (CRM)
1Q 2024 Investor Letter	April 22, 2024	Alibaba (BABA)Charter Communications (CHTR)
4Q 2023 Investor Letter	January 11, 2024	Salesforce (CRM)
3Q 2023 Investor Letter	October 18, 2023
Founding Letter	July 27, 2023