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A Conversation with PaulLife lessons from all different walks of life. Author: Paul Podolsky
Hosted by investor and author Paul Podolsky. Paul is founder and CIO of Kate Capital and the author of The Uncomfortable Truth About Money, Raising a Thief and Master, Minion. paulpodolsky.substack.com Language: en Genres: Business, News, Politics Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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Cars Are Going the Way of Typewriters
Friday, 3 October, 2025
While journalists breathlessly report on a plane crash or a train derailment, they are silent on a more salient fact: about 1.2 million people will die this year in car crashes. Fortunately for future generations, most of these terrible drivers are going to be replaced by a computer. In fact, in a number of countries (Norway, UAE) that is already happening, and in the US, it will significantly occur in the next decade.Source: GrokThe one snag is that roughly 1 job in 10 in the US—broadly defined—is tied to driving a vehicle, if one includes cabs, forklifts, insurance agents, and so on. Said differently, to save 1 million people a year from dying in a car crash, tens of millions of people are going to lose their jobs. To put this in perspective, I am thrilled to share my conversation with Alexei Andreev. He is the co-founder of Autotech Ventures, a venture capital fund, and holds degrees from Stanford and the Moscow Steel and Alloys Institute. Alexei has been investing in this shift for years and will walk you through it.Earlier this week, I rowed under Route 95 pre-dawn, cars and trucks hurtling down the road. In the quiet of a scull, looking up, it is an industrial maw. I had a flashback to watching the Cape Ann Tool Factory as a child. Enormous furnaces poured steel and pounding presses turned them into tools. I was spellbound by the heat and noise. I suspect we will look back on Route 95 the same way. In my lifetime, it will likely be replaced by quiet, humming electrical cars driven by robots. The tool factory is now abandoned. This shift is bearish for the cost of labor, bullish for corporate margins and materials that go into creating energy, and bad for politics. What politician can win on a platform of technical change that displaces tens of millions of jobs?This document is strictly confidential and is intended for authorized recipients of “A Letter from Paul” (the “Letter”) only. It includes personal opinions that are current as of the date of this Letter and does not represent the official positions of Kate Capital LLC (“Kate Capital”). This letter is presented for discussion purposes only and is not intended as investment advice, an offer, or solicitation with respect to the purchase or sale of any security. Any unauthorized copying, disclosure, or distribution of the material in this presentation is strictly forbidden without the express written consent of Paul Podolsky or Kate Capital LLC.If an investment idea is discussed in the Letter, there is no guarantee that the investment objective will be achieved. Past performance is not indicative of future results, which may vary. Actual results may differ materially from those expressed or implied. Unless otherwise noted, the valuation of the specific investment opportunity contained within this presentation is based upon information and data available as of the date these materials were prepared.An investment with Kate Capital is speculative and involves significant risks, including the potential loss of all or a substantial portion of invested capital, the potential use of leverage, and the lack of liquidity of an investment. Recipients should not assume that securities or any companies identified in this presentation, or otherwise related to the information in this presentation, are, have been or will be, investments held by accounts managed by Kate Capital or that investments in any such securities have been or will be profitable. Please refer to the Private Placement Memorandum, and Kate Capital’s Form ADV, available at www.advisorinfo.sec.gov, for important information about an investment with Kate Capital.Any companies identified herein in which Kate Capital is invested do not represent all of the investments made or recommended for any account managed by Kate Capital. Certain information presented herein has been supplied by third parties, including management or agents of the underlying portfolio company. While Kate Capital believes such information to be accurate, it has relied upon such third parties to provide accurate information and has not independently verified such information.The graphs, charts, and other visual aids are provided for informational purposes only. None of these graphs, charts, or visual aids can of themselves be used to make investment decisions. No representation is made that these will assist any person in making investment decisions and no graph, chart or other visual aid can capture all factors and variables required in making such decisions. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit paulpodolsky.substack.com
