Lumida Wealth : Non-Consensus Invest Beyond the Ordinary

00:00 - Winners Keep Winning: NuBank & Market Momentum
00:02:40 - The US Competitive Advantage: Innovation & Capital Markets
00:05:09 - How Capital Formation & Modern M&A Work
00:08:56 - The Evolution of Startup Execution & Culture
00:12:43 - Regional Tech Hubs & US Macro Superiority
00:16:33 - International Markets: ...

In this FSD episode, titled The Market for Compute Will Clear, Ram records on the drive home after a day of conversations in New York with a group of thoughtful VCs and a private credit investor who came up during the 2008 crisis. He opens on the AI infrastructure trade. CoreWeave rose 18% on the day and doubled its backlog, but the more important signal is the read-through f...

00:00 - Introduction & The $10B Unicorn Calibration
01:11 - Pre-IPO Liquidity & Venture Capital Lessons
01:52 - Nvidia: The Lender of Last Resort & $500B PE Syndicate
02:44 - Nvidia’s Margins & Free Cash Flow Advantage
04:41 - Compute Demand, Backlogs, & CoreWeave
05:19 - Pass/Fail Grading Trends & Real-World Prepared...

In this FSD episode, titled A Founder's Founder, Ram spends the first half on Travis Kalanick. After being pushed out of Uber, Travis went quiet for about six years and quietly built a set of businesses that now do around $450 million in revenue. One is a ghost-kitchen operation, and the core is what he calls the wheels business, essentially physical AI, robots with sensors. ...

In this FSD episode, titled The Kids Will Be All Right, Ram Ahluwalia records on a Thursday evening drive after a down day for the market and argues the setup is healthier than the mood. He walks through the classic bear market conditions, the 1970s stagflation, the 1987 crash, the egregious valuations of the dot com bust, and points out that none of them exist today. What ex...