Exciting Changes Ahead–Introducing Tarot Capital

A New Chapter

Hello everyone,

Doug originally launched the Mule’s Musings newsletter as a platform to explore compelling ideas beyond his core expertise in the semiconductor industry. Many of our most valuable insights—such as Applovin—emerged from collaborative engagement at the intersection of fundamental and incentive-driven investment strategies.

Moving forward, I will be taking over as the primary writer to allow Doug to dedicate more time to his essential work in the semiconductor space. With this transition, we are also rebranding the publication as Tarot Capital—a name that better reflects our analytical framework and the investment theses we aim to develop.

Thank you for your continued engagement. I look forward to sharing fresh, thought-provoking ideas with you on a regular basis.

Best regards,
Zero Gravitas (@lowgravzone)

And to those who celebrate: happy Super Bowl Sunday.

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Addendum from Doug:

Zero Gravitas (anon for now) is amazing at governance driven investing, and I personally will be a subscriber from day one. I talk to him, collaborate in the process occasionally, and still think its the single biggest driver of investment edge available. Tarot Capital is going to have a bright future - just not with me involved in the day to day. I might even still guest post! I just have my hands extremely busy with SemiAnalysis / Fabricated Knowledge, and can't spend time on this side project. But I think with ZG doing it as his full time, Tarot Capital will finally bloom.