They’re going to extend the neutral life to infinity
Depreciation and amortization expenses for the five hyperscalers are set to reach $590 billion in 2029. This is likely to exceed their combined operating profits in 2026.
I don’t think the age gap dynamic is well understood
Millennials are already the dominant voting block
The age of boomer luxury communism is probably over after Trump’s presidency
It’s funny watching the mainstream realize that you can’t tilt the economy massively in favor of the old at the expense of the young
It’s now like the acceptance phase of grief for boomers but there will be a panic as they are voted out of government leadership forever after 28
Bill Maher: young people need to suck it up
Feels like this report is going to generate a lot of articles, posts, and takes: wsj.com/economy/affluent-and…
Medical compensation is completely out of control but hey the government pays for it so who cares right?
Such blatant regulatory capture
It’s bankrupting the country to have doctors and hospital administrators making $1-2 million but will go on forever
Friedberg is one of a few public figures who understands technology but also sees the big picture around how sustained inflation, deficits, and crazy monetary policy are cancers that will eventually destroy us if not resolved
Wish these ideas could become more mainstream
David Friedberg says the US needs an economic reset to avoid having a social collapse like France
"It depends on how far the collapse goes. You could have this sort of social collapse that you see in some countries that involve rioting and murd*r and all these sorts of things."
"Or you end up having what is more of like an economic collapse, which is sort of like Argentina and Brazil, Greece more recently, where the ability to service the debt because the government got too big forces this kind of restructuring of the economy."
"And yes, there are still massive protests, there is still an incredible loss of net worth, there's an incredible inflation effect that wipes out asset values for people. And you end up having kind of economic resetting without the great social resetting."
"I think we have to do something. I don't think we can run a higher deficit-to-GDP than France in the United States with the same debt-to-GDP as France and only modestly higher GDP growth. I think we are fundamentally going to need to have some degree of reset in the United States."
"The question is, do we want it to be a massive social reset, or do the left and the right want to put on their hard hats and say, 'Okay, we got to go in the mines and do the work and figure out how to cut this from seven and a half years to four years and do it in a way that doesn't destroy the economy.'"
What’s the market cap of two companies 5 weeks ahead of an open source copy cat?
Apparently about $3.5 Trillion combined
Rev retweeted
Claudification ™️ is a disease
When you are live on an earnings call and the CEO or CFO pauses for five seconds before answering a question about accounts receivables, you feel something. You cannot explain it cleanly. You just know that pause meant something. Read the transcript two hours later and that pause is gone entirely. The transcript says he answered the question. It does not say he needed five seconds to decide how.
When you visit management in person and the receptionist has been there for twenty-two years, that tells you something. When the parking lot is full at 4pm on a Friday, that tells you something. When the CEO walks you through the factory floor and he has unscripted personal dialogue with the line workers with what looks like genuine respect rather than performed deference, that tells you something significant about how this place operates.
None of that is in the 10-K.
microcapclub.com/the-last-mo…
Blackstone after buying 20% of the warehouses in the US at the peak in 2021 and then sticking them to rot in BREIT forever now wants to YOLO on data centers into compute over supply
Never change guys
Blackstone's Jon Gray says neoclouds that can deliver compute get 50% more for it than a year ago, and old H100s lease near their original rates
[ CoreWeave, a company that you work with... is seeing its yields on some of its debt go to 15%. ]
"Well, it is creating a challenge. And it's interesting when you talk about CoreWeave and the neo clouds, there's a real contrast between delivering compute and demand for compute."
"And so if you're in a neo cloud and you can deliver compute, the price you can get today is up 50% from where it was a year ago. Your older chips, the H100s, are leasing today close to their original rates, where people thought three or four years ago they wouldn't have any value."
