Sam Altman argues that time is an underexploited edge in markets. He commits to holding shares in the best companies forever and tells founders to pick projects they'll stay with for the long term, not ones that fit quarterly cycles.
I think that one of the few arbitrage opportunities left in the market is time. We have gotten really good at high frequency trading, we've gotten really good at the price of things, and we've gotten worse at the long term value. And I don't think you can go beat the market in a lot of ways. But the one way I do is by making a long term commitment to something. My new belief on how long I should hold stock in the best companies I invest in is forever. And I think in a world where people are increasingly focused on the tick and the quarterly earning cycle, you should try and go in the other direction. And this is a great way to generate value and wealth. And so, when you're thinking about a startup, it's really worthwhile to think about something you're willing to make a very long term commitment to, because that is where the current void in the market is.
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