https://minutesof.com/on/performance/ Everyone on the record about performance: 35 verbatim quotes from 9 people, June 2011 to July 2026, in one chronology, each with a timestamp and a link to… en Sun, 30 Aug 2026 22:33:08 +0000 https://minutesof.com/q/12c60899-9cef-4341-915a-6afdeefc7d8d/ https://minutesof.com/q/12c60899-9cef-4341-915a-6afdeefc7d8d/ “we're seeing cache hit rates above 95% for many AgenTeq workflows, which which means the cost for a cache hit is it's not free,” — Dylan Patel, RAISE Summit Thu, 16 Jul 2026 16:44:57 +0000 performance https://minutesof.com/q/17ee08e0-f212-40ab-9204-64e701a10690/ https://minutesof.com/q/17ee08e0-f212-40ab-9204-64e701a10690/ “Jensen, when he originally launched Blackwell, had claimed it would be a 25x improvement. And at the time, no one believed him. Right? It's Jensen, right?” — Dylan Patel, WisdomTree in Europe Thu, 09 Jul 2026 06:16:39 +0000 performance https://minutesof.com/q/1aeaaf0c-1080-4d21-a79c-2bc3d127baf5/ https://minutesof.com/q/1aeaaf0c-1080-4d21-a79c-2bc3d127baf5/ “from Hopper to Blackwell, which is all we've had over the last three years, roughly 30x improvement on DeepSeek, on the most optimized deployment, which you can see on InferenceX there's about a 30x improvement.” — Dylan Patel, Sequoia Capital Tue, 30 Jun 2026 12:00:25 +0000 performance https://minutesof.com/q/9d73d1a4-58d9-4d76-aba2-2d6d6a6ceb8c/ https://minutesof.com/q/9d73d1a4-58d9-4d76-aba2-2d6d6a6ceb8c/ “And so, over the last forty years, on average, something like 3.6 or 3.7% of all high yield bonds have gone into default every year, and our default rate has been roughly a third.” — Howard Marks, Nikhil Kamath Mon, 04 May 2026 14:30:01 +0000 performance https://minutesof.com/q/8ad4d97d-7bae-485b-868e-d2e66e8623fc/ https://minutesof.com/q/8ad4d97d-7bae-485b-868e-d2e66e8623fc/ “Appaloosa is probably has the best record over the last thirty five years of any hedge fund alive.” — David Tepper, NFL on ESPN Fri, 06 Feb 2026 18:53:22 +0000 performance https://minutesof.com/q/efa4c687-8b33-4fdc-88bc-eb9d63667ddd/ https://minutesof.com/q/efa4c687-8b33-4fdc-88bc-eb9d63667ddd/ “so it's grounded in the laws of physics, but able to predict 10,000 times faster.” — Jensen Huang, NVIDIA Thu, 05 Feb 2026 02:53:33 +0000 performance https://minutesof.com/q/31d24717-9675-403b-a23d-dcc1924334ea/ https://minutesof.com/q/31d24717-9675-403b-a23d-dcc1924334ea/ “Remember, Moore's law was two times every 18, 10 times every five years, a 100 times every ten. Okay? But where are we now? A million times every ten years.” — Jensen Huang, Cisco Wed, 04 Feb 2026 04:34:47 +0000 performance https://minutesof.com/q/6f93f4d3-32b3-4a01-894a-5b1ef572640b/ https://minutesof.com/q/6f93f4d3-32b3-4a01-894a-5b1ef572640b/ “He just improved his inference performance by five x, not even including Grok, which I think will give him, you know, another huge boost.” — Brad Gerstner, Altimeter Capital Wed, 07 Jan 2026 22:13:03 +0000 performance https://minutesof.com/q/2c286210-4dc8-4bb5-8b4f-bef301c9cb7d/ https://minutesof.com/q/2c286210-4dc8-4bb5-8b4f-bef301c9cb7d/ “And if you bought the S and P at the same time, you've had a 12.7% rate of return.” — Howard Marks, The Investor’s Podcast Sat, 13 Dec 2025 22:45:06 +0000 performance https://minutesof.com/q/e287effc-d7fc-41e0-8067-5fa0ca1d9d07/ https://minutesof.com/q/e287effc-d7fc-41e0-8067-5fa0ca1d9d07/ “So solidly in the second quarter for fourteen years in a row. But interestingly, as a result, for the fourteen years overall, they were in the fourth percentile.” — Howard Marks, The Investor’s Podcast Sat, 13 Dec 2025 22:45:06 +0000 performance https://minutesof.com/q/e17fa153-5a23-488d-99aa-a4fe4fc4a705/ https://minutesof.com/q/e17fa153-5a23-488d-99aa-a4fe4fc4a705/ “for the general purpose user, yeah, you're going to have another doubling of performance potentially on the tables over the next year.” — Dylan Patel, Together AI Fri, 03 Oct 2025 20:23:30 +0000 performance https://minutesof.com/q/1220feb8-33a2-4114-958d-7e559ad3806a/ https://minutesof.com/q/1220feb8-33a2-4114-958d-7e559ad3806a/ “I see another 50% to doubling in the cards, just from the fact that there is so much low hanging fruit or performance left on the table if you are using the general open libraries, right? Whether it's cuDNN, VLM, SGLANG, all these other things,” — Dylan Patel, Together AI Fri, 03 Oct 2025 20:23:30 +0000 performance https://minutesof.com/q/7a1b8698-ea50-4724-a073-b8e5df30f151/ https://minutesof.com/q/7a1b8698-ea50-4724-a073-b8e5df30f151/ “while cost is only up, know, call it 50% or 60% or 70% versus Hopper, the performance is well north of 2x, right?” — Dylan Patel, Together AI Fri, 03 Oct 2025 20:23:30 +0000 performance https://minutesof.com/q/b6dd4aef-3ffe-4d65-95b0-ee73df1935cc/ https://minutesof.com/q/b6dd4aef-3ffe-4d65-95b0-ee73df1935cc/ “Because if you don't move on from all of that, you're not gonna focus on what's in front of you.” — David Friedberg, NPTE Final Frontier Fri, 03 Oct 2025 11:51:33 +0000 performance https://minutesof.com/q/a7b54a13-5ce4-4332-b52f-b9e726c373e0/ https://minutesof.com/q/a7b54a13-5ce4-4332-b52f-b9e726c373e0/ “I can have more of the things that go up a lot than you do or less of the things that go down a lot than you do.” — Howard Marks, The Church Sag Harbor Sun, 07 Sep 2025 18:45:03 +0000 performance https://minutesof.com/q/e6e2edee-689e-4db1-9044-611745e21cf0/ https://minutesof.com/q/e6e2edee-689e-4db1-9044-611745e21cf0/ “if you look at equity mutual funds, most equity mutual funds don't even do as well as the S and P five hundred before fees,” — Howard Marks, The Church Sag Harbor Sun, 07 Sep 2025 18:45:03 +0000 performance https://minutesof.com/q/279cdc86-ddf1-4907-8bcc-3cb1c5004ac8/ https://minutesof.com/q/279cdc86-ddf1-4907-8bcc-3cb1c5004ac8/ “At least that's what Blackwell is, and we'll see what Ruben does. But, you know, five x plus in a single year for performance TCO is an insane pace.” — Bill Gurley, Bg2 Pod Mon, 23 Dec 2024 20:25:20 +0000 performance https://minutesof.com/q/c310de9b-dc1b-4540-a8b1-6178b1463f48/ https://minutesof.com/q/c310de9b-dc1b-4540-a8b1-6178b1463f48/ “with Blackwell, not only is it way, way, way faster, anywhere from 10 to 15 times on really large models for inference because they've optimized it for very large language models.” — Bill Gurley, Bg2 Pod Mon, 23 Dec 2024 20:25:20 +0000 performance https://minutesof.com/q/53685b45-189b-43d7-8cac-1d4cd5f4234c/ https://minutesof.com/q/53685b45-189b-43d7-8cac-1d4cd5f4234c/ “we drove the marginal cost of computing down by 100000x over the course of ten years. Moore's law would have been about 100x. And we did it it in several ways.” — Jensen Huang, BG2 Pod Sun, 13 Oct 2024 10:30:00 +0000 performance https://minutesof.com/q/d0e6d6d3-56a6-4bf5-bd5b-d38a21159962/ https://minutesof.com/q/d0e6d6d3-56a6-4bf5-bd5b-d38a21159962/ “Single best year in Apollo's history. Earnings. Asset performance. The our platform as you think about it we are around 650,000,000,000 of assets under management in our asset management business.” — Marc Rowan, Bloomberg Podcasts Tue, 05 Dec 2023 19:05:29 +0000 performance https://minutesof.com/q/91e6ca39-ca6a-46fa-93b8-1947efec79d1/ https://minutesof.com/q/91e6ca39-ca6a-46fa-93b8-1947efec79d1/ “If you look at the active management, active management has failed to beat the index 85% of the time for twenty years.” — Marc Rowan, Bloomberg Podcasts Tue, 05 Dec 2023 19:05:29 +0000 performance https://minutesof.com/q/488f7eba-5773-48dd-8a9e-c7936559f1fc/ https://minutesof.com/q/488f7eba-5773-48dd-8a9e-c7936559f1fc/ “You got to look at it over twenty to forty years, which is really bizarre because most firms don't have employees that long.” — Bill Gurley, Bloomberg Originals Fri, 21 Jul 2023 01:00:14 +0000 performance https://minutesof.com/q/5a9a7e9d-e509-4a4c-a7ad-30fdd24c4722/ https://minutesof.com/q/5a9a7e9d-e509-4a4c-a7ad-30fdd24c4722/ “So I think I think I think, the PyTorch Foundation tested the 7,000 most popular most starred models on GitHub, and they got, like, a 30% increase.” — Dylan Patel, Gradient Flow Thu, 02 Feb 2023 12:00:39 +0000 performance https://minutesof.com/q/45f2aadd-215b-4a37-97e7-67d1873d78a9/ https://minutesof.com/q/45f2aadd-215b-4a37-97e7-67d1873d78a9/ “The bandwidth has not even gone up one order of magnitude. Right? Whereas flops have gone up two orders of magnitude. So so less than one order of magnitude versus two orders of magnitude increase.” — Dylan Patel, Gradient Flow Thu, 02 Feb 2023 12:00:39 +0000 performance https://minutesof.com/q/9c5f03e9-47c3-4b59-9ac6-28d4d9d37c96/ https://minutesof.com/q/9c5f03e9-47c3-4b59-9ac6-28d4d9d37c96/ “We started off on a four this year. We, you know, had five wins the last two seasons. We, you know, had a different lack of success at other seasons.” — David Tepper, WRAL Thu, 13 Oct 2022 19:02:55 +0000 performance https://minutesof.com/q/c48a9c99-bedf-4b86-9e35-d9fc20c9ea57/ https://minutesof.com/q/c48a9c99-bedf-4b86-9e35-d9fc20c9ea57/ “Approach is very simple, cut off the bottom tail. That's what this guy in the Midwest did.” — Howard Marks, Goldman Sachs Thu, 30 Jun 2022 15:18:25 +0000 performance https://minutesof.com/q/ac116a11-08ca-4597-aaef-38328f11b9ae/ https://minutesof.com/q/ac116a11-08ca-4597-aaef-38328f11b9ae/ “achieving an average return with below average risk is an equally significant accomplish, but easily overlooked because only the risk is evident, only the return is evident.” — Howard Marks, Wharton School Mon, 02 May 2022 13:42:01 +0000 performance https://minutesof.com/q/84bb656b-e418-45a8-9d23-904b21a7d8b5/ https://minutesof.com/q/84bb656b-e418-45a8-9d23-904b21a7d8b5/ “If you look at the now thirty two year history, 36% gross 26% net returns every fund has made carry.” — Marc Rowan, David Rubenstein Wed, 20 Apr 2022 11:09:09 +0000 performance https://minutesof.com/q/a10494fc-232e-4bc1-836c-00bedb6f1417/ https://minutesof.com/q/a10494fc-232e-4bc1-836c-00bedb6f1417/ “They're wrong more than they're right, but because they make more money when they're right, they still have a great track record.” — Gavin Baker, Invest Like the Best Tue, 25 Jan 2022 09:00:00 +0000 performance https://minutesof.com/q/fc47dddb-65a8-477e-aa6e-5f9cab18c012/ https://minutesof.com/q/fc47dddb-65a8-477e-aa6e-5f9cab18c012/ “The market return, particularly for the Nasdaq, was really dominated by a few stocks, Google, Microsoft, Nvidia, Tesla.” — Gavin Baker, Invest Like the Best Tue, 25 Jan 2022 09:00:00 +0000 performance https://minutesof.com/q/dca13555-75c7-4617-a304-00d7cd4fe2fb/ https://minutesof.com/q/dca13555-75c7-4617-a304-00d7cd4fe2fb/ “Jay Ritter put out some data at the end of August that you guys probably saw where he analyzed all the companies that have chosen the direct listing path and they've wildly outperformed their IPO peers,” — Bill Gurley, CNBC Television Tue, 28 Sep 2021 12:18:07 +0000 performance https://minutesof.com/q/3ffd4ca4-02e8-4842-a747-265e84b0b63f/ https://minutesof.com/q/3ffd4ca4-02e8-4842-a747-265e84b0b63f/ “Yeah, there've been eight high profile ones. Seven of them interestingly are trading above that first match that they did, which is really astounding.” — Bill Gurley, Axios Wed, 18 Aug 2021 17:10:45 +0000 performance https://minutesof.com/q/f17dfb17-087e-40e1-8beb-042b1df54ee4/ https://minutesof.com/q/f17dfb17-087e-40e1-8beb-042b1df54ee4/ “And in that fund, which was the two thousand and one fund, 44% net returns. So now you fast forward and you look at the last three funds we've done.” — Marc Rowan, Bloomberg Live Thu, 15 Jul 2021 15:56:20 +0000 performance https://minutesof.com/q/6c46ad2a-b6e9-4abc-a441-33b30a509a2e/ https://minutesof.com/q/6c46ad2a-b6e9-4abc-a441-33b30a509a2e/ “I one of the reasons I encourage companies going public is because I think it ups their game. I think it it presents more pressure. It forces them to be more disclosive, more transparent.” — Bill Gurley, Bloomberg Tech Wed, 02 Oct 2019 18:47:29 +0000 performance https://minutesof.com/q/76520b24-417d-4404-847e-e78cdf0a274a/ https://minutesof.com/q/76520b24-417d-4404-847e-e78cdf0a274a/ “Earlier today, one of our investments, Ambarella, filed, which will be our fourth IPO this year. And that hasn't happened, you know, for a single venture firm in a very long time.” — Bill Gurley, Bloomberg Originals Sat, 11 Jun 2011 01:20:44 +0000 performance