Value Hive Podcast

The last time I had CEO of Magna Mining Jason Jessup on the podcast his goal was to create the next FNX Mining. That would be a great outcome for everyone as FNX went from $0.25 to $35 at its peak.
But here we are a year later, and Jason is thinking bigger. FNX is no longer the goal. Think closer to Teck Resources ... or even bigger.
Jason explains his plans for NICU over the next 2-3 years, his goals for the company, and how they can grow into a multi-billion dollar Sudbury mining company.
WARNING: NICU IS MY LARGEST POSITION. NOTHING IS INVESTMENT ADVICE. DYODD. DON'T TRADE BASED OFF THIS PODCAST. IF YOU DO YOU ARE AN IDIOT.
I hope you enjoy our conversation!

I hope you guys enjoy this Q2 Investor Audibles series.
As always, none of this is investment advice. You are an idiot if you think otherwise. Everything is for entertainment and educational purposes only. Investment carries substantial risk and you should always consult a professional before making any investment decisions.

This was one of my favorite conversations so far this year.
Astrid is the founder of Inheritance HQ. According to its website, the company “transforms observation into training data that robots and world models can learn from at scale, enabling capability to compound instead of restart with every newembodiment.”
Don’t worry if you didn’t understand a word from that sentence. I didn’t either. Which is why I wanted to interview Astrid.We’re deeply curious (and bullish) about Physical AI and the Robotics thematic at MO over the next 18-24 months. However, I only had “outside” knowledge of the theme. In other words, I digested a bunch of bullish Big Investment Bank reports, but still craved the “boots on the ground” primary contact to pressure-test these assumptions.
Astrid is that guy.
Besides founding a Physical AI/robotics data company, Astrid is a great public markets investor. We spend a lot of time exploring his investment process, why doing less hasequaled more (read: higher returns), and how Astrid cultivated a strong network of people to feed him ideas.

Please note that NONE OF THIS IS INVESTMENT ADVICE. IT IS FOR ENTERTAINMENT PURPOSES ONLY. YOU ARE AN IDIOT IF YOU THINK ANY OF THIS IS INVESTMENT ADVICE.
DO YOUR OWN WORK AND CONSULT A PROFESSIONAL BEFORE PUTTING ANY CAPITAL AT RISK.

We are back with another interview with Gavin McCracken. This time, we spend most of the podcast chatting robotics, AI, and why those two themes could kickstart the next commodities supercycle.
I really enjoyed Gavin's take on AI and robotics, mainly because it aligns with my initial hypotheses. But it's always good to bounce ideas off a AI PhD.
Remember, NOTHING YOU HEAR IS INVESTMENT ADVICE. THIS IS TWO DUDES CHATTING MARKETS FOR ENTERTAINMENT ONLY. YOU ARE AN IDIOT IF YOU THINK THIS IS ADVICE.
I hope you guys enjoy!

Q2 2026 Investor Audibles is live.
Remember, none of this is investment advice. I just wish there were audible versions of investor letters, so I decided to make them.
I hope you enjoy!