Resources
Annual Letters
Each year, Tracy and Brian write to our partners, Community members, and friends. The letters cover what we’re seeing in businesses, what we’re learning, and how we’re approaching the year. If you want to understand Kanbrick, this is a great place to start.
The Latest
The 2025 letter
On AI's move from Silicon Valley to Main Street, the Acceleration Flywheel, and the things that don't change. Plus three new partnerships: LTI, Keep Supply, and Depatie.
“The companies that thrived didn't just install the best motor. They redesigned the floor.”
2025 Annual Letter
Earlier Letters
2024
Renters and owners: what a long-term mindset changes in practice, and the three pillars we're building on for the next five years.
2023
Short-term pessimists, long-term optimists. History's cycles, an operator's lens on America, and a tribute to Charlie Munger.
2022
It is supposed to be hard. Leaving the easy-money era, and welcoming Marine Concepts and JM Test Systems.
2021
Auctions work great for cattle. On finding the right partner, capital allocation, and speculation dressed up as investing.
2020
The inaugural letter. Launching in a pandemic, what we're building, and the advice we still give owners: keep your business as long as possible.
Connect
Talk with us
Not sure where to start? Send us a note and someone on our team will read it personally and reply.