Will Quist

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@wquist

Partner @slow. I underwrite reasonably unreasonable futures, find where the value will concentrate, and help build the companies that capture it.

The Bay slow.co Joined May 2009

1.1K Following 8.2K Followers 8.6K Posts

Latest posts 5

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Will Quist @wquist 5d

Short term, the market is a voting machine. Long term, it’s a weighing machine.

We believe in betting on companies that can win The Weigh-in. But we need to respect The Vote - and understand how much winning it can change what a company gets the chance to build.

A few thoughts from our annual meeting on how we’re thinking about both, and where we see the opportunity.

Will Quist @wquist 1d

Are we looking at the next junk bonds?!

An enormous, previously unpriced asset class is beginning to get priced, traded, and financed. The implications for capital formation could be profound.

yoni rechtman Verified account @yrechtman 2d

x.com/i/article/2118…
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Will Quist @wquist 1d

Who coulda seen this coming…

Cc @iamjakestream

zerohedge Verified account @zerohedge 1d

The Hyperscaler takeover of Neoclouds begins

*GOOGLE BUYS CRUSOE’S WYOMING DATA CENTER SITE
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Will Quist @wquist 1d

🎯

Nick Mehta Verified account @nrmehta 1d

This is the problem. The chart is through 2025 (so dated) but it's still directionally accurate.

We need to make AI and agent investments show up in the actual profits of large companies or everything collapses eventually.

I 100% believe we will all do it. But selling LLM chatbots, coding agents and tokens isn't enough.
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Will Quist @wquist 5d

“Companies have $40-60 billion market caps and they're paying 16-18% for their debt, one of those things is wrong.”

I wonder which one history would say is wrong...

UnstructuredCap Verified account @UnstructuredCap 5d

Apollo’s CEO Mark Rowan: “Companies have $40-60 billion market caps and they're paying 16-18% for their debt, one of those things is wrong.”

“I think we have yet to focus on it in energy but we have certainly seen it in chips and ai and data. There's only two sources of debt capital in the world: banks or investors.”

“Most of what we're building is long dated and complex. What you see is businesses like ours who were at sub $40 billion AUM pre-2008 and now were at $1.1 trillion. I'd like to attribute it to good management, but let's face it, a trend is dragging us in that direction.”

“It is not possible for banks and public credit to do the job with financing, private credit must step in.”

“In the credit business, you are not paid to be concentrated because you only get your interest and your principal. If someone wants you to be concentrated they need to give you more return and more safety. More return is not enough because you can never make up for losses in credit, the scale of capital demand is starting to put pressure on firms with chip financing and AI.”

“Companies have $40-60 billion market caps and they're paying 16-18% for their debt, one of those things is wrong.”

“You’re starting to see even the largest companies start to crowd out other markets, even the government. We're going to see that in energy as well.”

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