This AI + biology space is still in the very early innings. Development is moving extremely fast, and I’m fully prepared for some of my bets in this frontier to go to zero. These are VC-like high-conviction bets on the best teams building at the edge of what’s possible — totally different from the more durable setups like Oscar Health or Amazon.

I’ve been thinking a lot about where the real alpha will come from over the next 10–20 years.

The one that creates entirely new capabilities no one thought possible.

We’ve already covered Natera and Caris in depth. Both are excellent in their domains. But after deeper research, my highest-conviction personal pick in the AI + biology intersection is Recursion Pharmaceuticals ($RXRX).

I’ll be transparent: this is the position I’m most excited to build over time. Recursion is building an industrial-scale operating system to decode biology with AI, automated labs, and massive proprietary data. The Exscientia merger strengthened the chemistry side. Recent clinical progress (positive Phase 2 POC in FAP), strong partnerships, and a massive addressable market make this one of the most asymmetric bets in public markets right now.

Portfolio Moves This Period

To keep things clean, simple and high-conviction, I made a few adjustments:

Full details on exact position sizing, average costs, updated portfolio allocation, and my complete reasoning for every move are available to paid subscribers only.

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Trading Update & Research Note

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