Gully

What if the biggest wealth-building story of this generation isn’t happening on Wall Street, but in investment accounts being opened for children? Billions of dollars are being committed by government, businesses, and private individuals to help children begin building wealth before they ever earn a paycheck. The individual announcements have made headlines. But collectively, they tell a much bigger story. Think about the compounding effect, not just over 20 or 30 years, but over two or three generations. What happens when children grow up understanding investing, ownership, and wealth creation because they’ve participated in it their entire lives? And what happens when they pass both the assets and that knowledge to their own children? Not every commitment is funded yet, and the outcomes aren’t guaranteed. But the potential is worth paying attention to. We talk a lot about generational wealth. We may be watching an entirely new approach to building it. #GenerationalWealth #FinancialLiteracy #InvestingInOurFuture #CompoundGrowth #EconomicOpportunity

In Buenos Aires, the McDonald’s locations I’ve visited still devote substantial space to kids playing and families spending time together. It reminds me of what we grew up with here. Why do these everyday gathering spaces seem to be disappearing from American businesses while remaining part of the fabric in places like Argentina? Businesses respond to how we live. But as we build more of life around convenience and speed, what happens to the casual encounters that used to connect us? Did we stop gathering so businesses stopped making room—or did losing those spaces help us stop gathering? #ThirdPlaces #CommunityConnection #Argentina @McDonalds

Interesting that @TravisHunterJr ignored every teammate on his INT celebration…. Makes it a bit obvious why he plays less than 60% of defensive snaps… almost zero on offense. 🤔

🚨 COLORADO SPRINGS WATER EMERGENCY 🚨 After reviewing the data, I’m calling on every local water activist to immediately redirect their attention to the greatest threat facing our region: The express car wash. Colorado Springs is now ranked the #2 most saturated express-car-wash market in the country. We have 41 express tunnels in El Paso County. This cannot stand. Colorado Springs Utilities requires those washes to recycle water and allows up to 35 gallons of fresh water per vehicle. A local operator previously told City Council its locations average about 200 cars per day. At that volume, those 41 express tunnels could use about 105 MILLION gallons of fresh water every year. That represents roughly 0.28% of El Paso County’s total annual water demand. Project Taurus? About 200,000 gallons to initially fill its closed-loop cooling system. Once. That represents roughly 0.00053% of El Paso County’s annual water demand. Put another way, the annual fresh-water use of those express car washes could equal roughly 524 Taurus cooling-system fills. And because I believe in conservative math, I’m not even counting the other car washes, detail shops and mobile operators in the county. So I assume we’re organizing. I’ll bring the signs: “STOP BIG CAR WASH.” “OUR CHILDREN DESERVE DIRTY SUBARUS.” “NO MORE UNLIMITED WASH CLUBS.” “SAVE WATER. KEEP THE POLLEN.” Obviously, I’m kidding. I like clean cars. And this isn’t an argument against car washes. It’s an argument for proportionality. If water is really the concern, then we should evaluate water use consistently across projects, industries and economic development decisions. A one-time closed-loop fill equal to roughly 0.00053% of annual county water demand deserves to be understood in context. So does 105 million gallons of recurring annual use. Scale matters. Consistency matters. And if we only become alarmed about water when the gallons are attached to a project we already oppose, then maybe we aren’t really debating water. We’re debating the project. And the water argument just got invited to the protest. #ColoradoSprings #ElPasoCounty #Water #EconomicDevelopment #Infrastructure #DataCenters #ProjectTaurus #PublicPolicy #ColoradoBusiness #CommunityDevelopment

Just pulled a HOT ONE @Topps!!!! @_CeeDeeThree

Nobody will remember @KingJames as a Laker. Crazy to me every post on X treats it like he never played for anyone but the Lakers…. #JordanGOAT

Colorado opened grocery and convenience stores to wine a few years ago. Now there’s already a push to expand that into spirits. I’m a hard no. At some point, we have to decide whether “support local” is something we actually believe or just something we put on a bumper sticker. We talk constantly about small business, entrepreneurship, strong neighborhoods and keeping dollars in our communities. Then we make it easier for national chains to capture more of the spending that once supported locally owned stores and local families. There’s also an irony I can’t get past. Some of the loudest voices railing against “corporate greed” are filling their carts with beer and wine at Safeway while a locally owned liquor store sits across the parking lot. Where we spend our money matters. Independent liquor stores do something large grocery chains generally don’t. They discover smaller producers. They take chances on new brands. They know their customers. They introduce people to wines, breweries and distilleries that would never win a national purchasing contract. A grocery shelf is built around scale, velocity and volume. A great independent shop can be built around relationships, quality and discovery. That difference matters. And supporting local doesn’t always mean the grapes, grain or ingredients came from Colorado. Finca Los Maza is grown and made in Argentina. But from there, a whole local ecosystem takes over. A Colorado importer. A local distributor. A local customs and logistics partner. Local retailers and restaurants. Local events, partnerships and people building the brand here in Colorado. That’s what local investment can look like. The bottle may have traveled thousands of miles, but much of the business around it happens right here. So before we hand another category over to the largest grocery chains, stop and think about what we’re trading away. Walk into the locally owned liquor store next to the grocery store. Visit the neighborhood brewery. Try something from a Colorado distillery. Ask the shop owner what bottle they’re excited about. Buy from people who know your community because they’re part of it. If we want local businesses and local entrepreneurs to survive, “buy local” eventually has to become a habit, not a hashtag. #SupportLocal #ShopLocal #ColoradoSmallBusiness #ColoradoWine #ColoradoSpirits #ColoradoSprings #FincaLosMaza #InvestLocal

A lot of the opposition to Project Taurus talks like Colorado Springs has no guardrails on this project. We do. Colorado Springs Utilities signed the White House Ratepayer Protection Pledge. Data centers pay for the generation, infrastructure, and grid upgrades needed to serve them. Those costs don’t get pushed onto the rest of us. CSU’s large-load rate already works that way. Long-term contracts. Collateral. Infrastructure costs and added system charges, all paid by the large user. We’re seeing what that can mean in other states. Mississippi: data-center revenue helped wipe out a proposed $4.87 monthly residential rate hike. Customers are projected to save more than $2 billion over 20 years. Oregon: data-center rates went up 29.7%. Residential rates went down 1.3%. Now, water. Taurus is going into the old Intel semiconductor site. That site was built and approved for roughly 1 million gallons a day of industrial water use. Taurus needs about 200,000 gallons, one time, to fill its closed-loop cooling system. That’s about one day of water use for 1,175 Colorado Springs households. After that, the water recirculates. It doesn’t get used again and again like the original industrial plan called for. That’s a big difference from what this site was originally built to support. Taurus is also capped at 50 MW, on a site that already has the electrical infrastructure to handle it. Yes, a data center uses electricity. Nobody’s arguing that. The real questions are whether it pays the full cost of serving it, whether existing ratepayers are protected, and what value a 50 MW customer brings to a utility we all own together. CSU has already built that structure. It’s in place right now. These facts deserve at least as much attention as the talking points on the other side. #ColoradoSprings #ProjectTaurus #DataCenters #CSUtilities #EconomicDevelopment #Infrastructure

I keep coming back to a question I raised a while ago: Can $CIFR eventually pass $IREN in share price? I’m not saying CIFR is the better company. Both are still in transition, both are volatile, and both still have a lot to prove on the AI/HPC side. But one difference matters more if Bitcoin keeps moving higher. $CIFR holds 646 BTC. $IREN basically holds none. So if BTC runs, IREN benefits from stronger mining economics. CIFR gets that too, plus the value increase on the Bitcoin already sitting on its balance sheet. That doesn’t decide the race by itself. But when two companies are still being re-priced in real time, small differences can become meaningful pretty quickly. I wonder if that ends up being one of them. $CIFR $IREN $BTC #Bitcoin #AI #HPC

My takeaway on $IREN earnings: don’t react to the headline. Respond to the actual numbers. GAAP net loss: -$684M But about $450M of that was a non-cash impairment tied largely to Bitcoin mining equipment being decommissioned. Actual quarterly revenue: $137.2M AI Cloud: $70.5M Bitcoin mining: $66.7M And that mix is changing fast. AI Cloud revenue: $33.6M → $70.5M QoQ Bitcoin revenue: $111.2M → $66.7M QoQ That tells the story better than EPS. $IREN is actively moving from Bitcoin mining into AI infrastructure. That transition creates ugly accounting, impairments and one-time charges along the way. The $4B contracted ARR matters, but it is not revenue yet. The number that matters now is how quickly that contracted capacity converts into recognized revenue and at what margin. Read past the accounting language. Separate cash from non-cash. Separate one-time charges from operating performance. Then decide what the quarter actually says. $IREN #IREN #AI #AIDC

There hasn’t been a single country I’ve visited, developed or “third world,” where I didn’t leave thinking the same thing: “They know more about the United States than a lot of our own citizens do.” Not just our geography. Our history. Current events. Our government. Our politics. People around the world pay attention to what happens here because what happens here often reaches far beyond our borders. Meanwhile, too many Americans are disconnected from how our own government works, how decisions get made, or even the history that shaped the system we argue about every day. That should concern us. A democracy only works as well as the people participating in it. Civic knowledge shouldn’t be partisan, and it shouldn’t be optional. We spend a lot of time debating what America should become. Maybe we should spend a little more time understanding how it actually works. #USPolitics #Civics #Democracy #CivicEngagement

I’m bullish on $VENU at these levels, but there are still a few things I think they need to prove. The asset story is what gets my attention first. Management recently pointed to about $9.58/share in mark-to-market net tangible asset value based on property appraisals. I’m not saying that means the stock should automatically trade at $10. It doesn’t. But when the stock is trading at a fraction of that number, it’s hard for me to ignore. Where I have more questions is on the operating side. I’m still not convinced on the economics of the Fire Pits, and I think the lineup strategy has room to grow. From my seat, the programming so far seems aimed at a pretty specific audience in our region. I think they should be thinking bigger. Colorado Springs is close enough to Denver, Castle Rock and the rest of the Front Range that the right show can pull people south. People will drive for something they really want to see, especially if the venue and overall experience are worth the trip. That’s the opportunity I think VENU needs to lean into. Don’t just build a venue for Colorado Springs. Build something people across the state see as a destination. That matters for the stock too. At some point, the value of these properties has to show up in the operating numbers. More dates, broader demand, fuller venues and stronger cash flow. That’s what starts to close the gap between what the assets may be worth and what the market is willing to pay for the company. There are obvious risks. VENU is still losing money. These projects take a lot of capital. Financing costs matter. Dilution matters. They still have to execute. But that’s also why I find the stock interesting here. The market seems to be pricing in a lot of what can go wrong. I’m not sure it’s giving them much credit for what happens if they get this right. I’m not calling $10 a guarantee. I just think the risk/reward at these levels is pretty compelling. I’m not an advisor. NFA. $VENU

If you’ve only traveled to developed Western countries, you do not have a worldly perspective, or as cultured as you may think. #culture #perspective #experience #commonsense

¡VAMOS ARGENTINA! #argentina #messi @FIFAWorldCup @NiyahGullixson

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