⚠️ RESEARCH: 1% of companies are paying for 90% of all AI spending. And 72 cents of every one of those dollars comes from a company that has never made a profit. That’s @chamath breakdown. Top 1% of firms, 90% of the spend. Inside that 90%, 80% is venture money. Only 18 cents on the dollar comes from a business that actually earns what it spends. Here’s the loop: VCs raise a fund. The fund hands cash to a startup. The startup hands it to Nvidia, the clouds, and the labs. The labs report record revenue. The record revenue justifies the next fund. The money goes in a circle. The profits never enter it. So the biggest buyer of compute on earth is a balance sheet that only works if the next raise closes. Nvidia’s real customer is the fundraising cycle. Nobody checks whether the end customer is making money, because the end customer is the end customer’s investor. This is the first tech boom in history where the customers don’t have revenue. When the next fund doesn’t close, that’s your AI winter.

Damn, posted this 10 days ago and people called me dramatic...

💥 RESEARCH: Most of them didn't lose big. They lost small, every day, all month.

The price of AI collapsed and the labs are still burning billions. What's next?

Michaël gets it, lock in and get ready because we are not stopping anytime soon

$ETH is pushing again over the local downtrend resistance...key squeeze, wants to breach 💥 More trading setups at: discord.gg/rand

Fewer Americans are buying homes than during the 2008 crash. And there's no crash 💀

🇩🇪 RESEARCH: Not too long ago Germany was the place to build cars. Now production is down 31.2% since 2015 while China is up 40.9% and making 10 million more on its own.