⛳️ The Golf
The Truist Championship
Course: Quail Hollow tests ball strikers
Weather: Classic Charlotte Spring
Story: Rory has 4 wins here + Course Record
The Card
Outright Winner: Rory McI
Favorite Bet: Harris English Top 10
Fade: Viktor Hovland
📣 The Good, Bad & Ugly
GB&U: Horvat, Wesley Bros Launch Your Golf Tour.
The Good: The audience is already there. The Internet Invitational last summer proved the commercial demand. Direct-to-fan distribution across pre-built channels with millions of subs means YGT skips the linear-rights problem the PGA Tour is still wrestling with. Wesley Bryan being suspended from the PGA Tour for playing LIV Duels and pivoting straight into a co-founder role is exactly the kind of operator-jumps-the-fence moment that signals the category is real.
The Bad: The whole appeal of YouTube golf was that it WASN’T a tour. Personality-first, low stakes, fun. The minute you bolt on $1M, relegation, captains, and a points race, you risk turning the antidote into the disease. “Skill-first selection” is the right answer for competitive integrity but it also raises the obvious question: if the audience came for personality, does formalizing it strand the audience that built the platform?
The Ugly: This is either the door opening for more — a creator-led tour ecosystem where Bob Does Sports, Good Good, and the rest follow with their own circuits, all feeding the same fans — or it’s SIM leagues gone mad. TGL already showed that primetime indoor golf with stars works at modest scale. YGT is the outdoor, money-on-the-line version with creator distribution. If it lands, every creator with a million subs starts asking why they don’t have their own. If it whiffs, YouTube golf goes back to vibes-only and the formal-tour experiment is dead for a decade. Right now, I’d bet on the door opening.
💰 The Wedge Fund
Brief: Paradromics is the second of two horses we’re backing in BCI. Higher bandwidth than competitors at roughly 20x the data throughput. FDA clearance for speech trials. Human implants expected within ~90 days. Targeting is clinical-first — restoring speech to patients with neurological injury — then expansion. Different path than Neuralink, same destination.
Paradromics: Neuro Technology
Bull Case: Two-winner markets are the best kind to allocate to when you can’t pick which one wins outright. Paradromics has the bandwidth lead, regulatory progress, and a medical-first wedge that creates compounding clinical data and FDA credibility from day one. While Neuralink is a multi-application moonshot accelerated by Musk’s capital and focus, Paradromics is the medical-business-first build that compounds before broadening.
Bear Case: BCI is hard. FDA timelines slip. Clinical trial outcomes are binary in ways most software businesses aren’t. Hardware in the brain is the highest-stakes hardware on earth — a single adverse event can compress the category for years. Capital intensity is real. High-conviction, multi-year, science-validated bet — not a quick-flip allocation.
Macro Environment
Brain-computer interfaces are about to move from research to product. Bandwidth between brain and machine becomes the next platform layer the way mobile became the layer after desktop. Whoever owns the bandwidth advantage owns the data flywheel — better signal, better models, better products, more users, more data. The lead widens. The category will likely have two real winners. We’re betting on both.
Not investment advice. Investing involves risk, including the possible loss of principal. Past performance is not indicative of future results.
