wait, what.

Impact Statement

Where Outliers Become Opportunities

In an investment landscape dominated by consensus thinking and incremental gains, wait, what. exists to challenge the inertia of conventional wisdom. Born from the belief that exceptional outcomes demand exceptional perspectives, our firm specializes in identifying and capitalizing on outlier opportunities—those overlooked, misunderstood, or deemed “too unconventional” by traditional frameworks.

We are not contrarians for the sake of rebellion but explorers driven by rigorous curiosity, seeking extreme value in markets where others see only noise.

The Case for Exceptional Experience Investments

Modern markets increasingly reward homogeneity, yet true alpha lies in the margins. 

wait, what. operates at the intersection of contrarian thinking, exponential trends, and systems dynamics, targeting investments that redefine value creation.

Our focus on “exceptional experiences” reflects a dual mandate:

1. Investments that create transformative experiences—projects reshaping how communities live, work, and thrive.
2. Experiential investing—a methodology prioritizing deep, firsthand engagement with market asymmetries.

This strategy dismisses passive benchmarking and instead views volatility and dislocation as drivers of outperformance. By challenging our assumptions (which inspired our name), we uncover where systemic inefficiencies intersect with unfulfilled human and ecological needs.

Investment Philosophies: Three Lenses for Outperformance

Contrarian Thinking

Markets overcorrect. Fear and euphoria distort pricing, creating extreme value events. We lean into dislocation, whether in undervalued real estate assets stigmatized by short-term crises or public equities mispriced due to herd behavior. Our research process actively seeks “narrative arbitrage”—situations where prevailing stories diverge from underlying fundamentals13.

Exponential Thinking

Linear models fail in a world of compounding technological and societal shifts. We identify inflection points where nascent trends (e.g., regenerative urbanism, adaptive reuse of infrastructure) intersect with scalable solutions. This lens prioritizes optionality—investments that gain value disproportionately as catalysts accelerate510.

Systems Thinking

No asset operates independently. We analyze the interconnections among macroeconomic factors, regulatory changes, and societal trends to evaluate opportunities. This comprehensive perspective highlights secondary effects, such as the potential transformation of coastal real estate markets by climate resilience policies or the impact of aging demographics on repurposing suburban office parks.

The 4O Process: Openness, Observation, Opportunity, Outperformance

Our investment engine is structured to convert uncertainty into edge:

Openness

We begin by discarding playbooks. Markets evolve, so must our hypotheses. This phase involves immersive engagement with non-consensus data—tenant demand patterns in emerging neighborhoods, materials innovation in construction, behavioral shifts in hybrid work—to reframe what’s possible.

Observation

In this instance, we identify subtle indicators. Through our proprietary frameworks, we dissect various datasets—such as municipal zoning changes, supply chain disruptions, and cultural sentiment analytics—to pinpoint early-stage anomalies. For example, a missed regulatory change in utility pricing could indicate an impending demand for energy-efficient upgrades in multifamily housing.

Opportunity

Insight drives action. We design investments with asymmetric risk characteristics, focusing on opportunities with limited downside and potential for significant upside. Our current initiatives, such as the Placemaking Investment Fund (PIF), illustrate this strategy: by targeting underused urban properties, PIF converts them into mixed-use centers that enhance community health and economic mobility—a belief in the growing worth of “social infrastructure.”

Outperformance

Execution is iterative. We build feedback loops into every holding, continuously refining strategies based on real-world outcomes. For example, the ARC (Architecting Regenerative Cycles) initiative applies circular economy principles to real estate projects, turning waste streams into revenue streams while future-proofing assets against regulatory and climate risks.

Current Initiatives: Building the Future in Real Time

PIF (Placemaking Investment Fund)

Urban spaces are no longer mere physical assets but platforms for human connection. PIF acquires and redevelops properties (e.g., dying malls and outdated office complexes) into ecosystems blending affordable housing, micro-retail, and public amenities. This isn’t gentrification; it’s value creation through community co-design, aligning financial returns with social impact.

ARC (Architecting Regenerative Cycles)

Traditional “take-make-waste” models are outdated. ARC collaborates with forest and wood waste owners to transform facilities into closed-loop systems. By converting waste into revenue and minimizing operational risks, ARC effectively makes sustainability a cash flow driver.

Vision: Redefining the Role of Capital

wait, what. exists to prove that the highest-performing investments solve real human and planetary challenges. We don’t chase trends—we anticipate them, using our 4O Process to transform complexity into clarity. For forward-thinking allocators, our firm offers more than a portfolio; it’s a partnership in reshaping what investment excellence means.

The future belongs to those who question the present.