"Do you want to be right or make money"...Ned Davis "We can ignore reality, but we cannot ignore the consequences of ignoring reality." …Ayn Rand
Northern Hemisphere
Joined January 2020
- Tweets18.7K
- Following204
- Followers173
- Likes19.6K
St. John O’Callaghan retweeted
Governance expert Nell Minow says Anthropic's IPO filing strips shareholders of every basic right
"Shareholders have three rights... All three are obliterated in this offering"
"There's not enough insurance in the world to cover the risks of this company"
"This is too big to fail all over again"
The ValueEdge Advisors chair went through the 335-page S-1 and calls the public benefit corporation setup, with its founders committee picking a majority of the board, a "Frankenstein structure." $NVDA $GOOGL $AMZN
The biggest AI IPO yet may come with almost no accountability to the people buying in
via @CNBC, featuring @nminow
St. John O’Callaghan retweeted
🤗An IT reseller listed a 300-rack AI supercomputer on eBay for $59.7 million or best offer, Tom’s Hardware reported. It held 9,600 Nvidia A100 chips from 2020, and Tom’s figured the chips and memory inside were worth roughly half the asking price. The seller ended the listing this morning and said the item is no longer available.
My Take
I laughed at the free shipping (and the cash on pickup). We’ll never know what it went for, and I doubt it was close to the ask. I think the thing to take from this is how fast these chips age. Whoever owned them upgraded after six years, and the chips companies buy today will look just as dated a few years from now. If you paid cash, that’s the cost of doing business. A lot of this year’s AI buildout ran on borrowed money with chips as the collateral, though, and lenders didn’t price in how quickly that collateral loses value.
Hedgie🤗
St. John O’Callaghan retweeted
They are liars. Any questions?
St. John O’Callaghan retweeted
Dem plan: surrender to Iran and destroy domestic energy production. None of this is good for gas prices or national security.
St. John O’Callaghan retweeted
"I'm still angry with the Biden admin for what happened. I think it severely damaged our country. They said there's nothing we can do about it and then Trump comes in and BOOM, it's closed"
-Jamie Dimon on immigration law enforcement under Trump's presidency
St. John O’Callaghan retweeted
🦔SpaceX signed a commitment to lease about $40 billion of Nvidia’s next-generation chips through a fund managed by Apollo, which SpaceX calls the largest GPU financing ever. Payments run about five years and start when the chips arrive in 2027. SpaceX carried about $38 billion of debt at the end of September, so this roughly doubles what it owes.
My Take
SpaceX’s CFO says its AI infrastructure pays for itself in less than a year. If that held up, SpaceX could buy the chips out of its own profits within a couple of years rather than commit to five years of payments to Apollo. Five years is also a long time for a chip. Nvidia puts out a new generation about every year, so by 2029 these will be a couple of generations old, and SpaceX will still owe about $8 billion a year in principal on them.
Musk posted the same weekend that more than 200 neoclouds face “guppy-level death.” He’s right that the smaller GPU renters are in trouble, and he just put SpaceX’s balance sheet behind the idea that it’s big enough to survive the cull. The money behind this lease comes from Apollo, BlackRock and KKR, the same private credit firms that want into your 401(k). If the bet goes wrong, some of that loss could end up in regular people’s retirement accounts.
Hedgie🤗
St. John O’Callaghan retweeted
Good Morning from Germany, where Mercedes is also being hit hard by the China shock. It joins BMW & VW in cutting its outlook, now targeting a car margin of just 2–3%, vs up to 5% before. Shares tumble 5.4%, taking this year’s loss to more than a third. Germany’s Big Three are now worth just €106bn combined. Tesla alone is worth €1.4tn, more than 13 times as much. China, once their profit engine, has become a major liability.
St. John O’Callaghan retweeted
Senator Padilla continues to demonstrate his profound respect for the founding documents.
It is truly impressive how easily he can call for government investigations into private citizens simply because he dislikes their speech or their business decisions. The First Amendment, the Fourth Amendment, and the Fifth Amendment must be very flexible concepts in his mind. Perhaps the Bill of Rights was only meant as a temporary suggestion until certain people found it inconvenient.
This kind of selective reading of the Constitution is exactly what we can expect if Democrats get back in charge, I guess. Very reassuring for anyone who still thinks the government is supposed to follow the rules that apply to everyone else.
St. John O’Callaghan retweeted
FORTRESS: The Pentagon is preparing every major U.S. military base to survive 90 days without outside support — no civilian power grid, no global supply chains, no outside fuel or water.
The initiative, revealed in documents reviewed by Fox News Digital, envisions portable nuclear reactors, massive battery storage, and microgrids that can disconnect installations from civilian electricity entirely. Strategic reserves of munitions, fuel, critical minerals, and medical supplies would be stockpiled based on wartime consumption rates. Civilian factories are being pre-identified to shift to defense production during a crisis.
Pentagon chief spokesperson Sean Parnell put it bluntly: "Power is combat now. Without electricity, you lose communications, water, logistics, assembly lines and just basic military command structures."
Full story here foxnews.com/politics/inside-…
St. John O’Callaghan retweeted
“Yeah, there are these companies called neoclouds. They buy GPUs from NVIDIA and then rent it back out to the hyperscalers. Where do they get money for the GPUs? Excellent question. Turns out they get the money from NVIDIA themselves, along with a bunch of private credit lenders whose loans are backed by the GPU itself. Elon just said all of them might go to zero soon. Anyways, what are you doing later tonight?”
St. John O’Callaghan retweeted
Left wing economists are not really economists…they are political operatives. It started with Malthus…went on to Galbraith…and now it is Reich.
St. John O’Callaghan retweeted
Quote of the day:
“There is nothing which I dread so much as a division of the republic into two great parties, each arranged under its leader, and concerting measures in opposition to each other. This, in my humble apprehension, is to be dreaded as the greatest political evil under our Constitution.”
— John Adams
St. John O’Callaghan retweeted
If someone from Somalia with a fake identity can serve in the United States Congress for years without getting caught, imagine still believing that illegals aren’t voting in U.S. elections.
St. John O’Callaghan retweeted
GLD’s 2.93% drop tracks gold’s sharp selloff to ~$4,020 (3-month lows), driven by stop cascades and funds dumping metal for cash amid the AI/chip stock rout, plus oil spikes fueling higher-rate fears.
Near-term bias leans lower if $4,000 breaks, but liquidity events like this often reverse quickly once forced selling eases. Watch Fed signals and oil next week.
St. John O’Callaghan retweeted
The only solution for curing a spoiled brat is to take their precious things away from them. If they don’t immediately get in line (they won’t), then in this case you deport them. Or you can go strait to the deport part. But then what do you do with all the 2nd and 3rd generation immigrant rioters? What do you do with the brainwashed and radicalized young people native to France? France is screwed.
St. John O’Callaghan retweeted
How hard is it, really, to answer one simple question… who is on your voter rolls and are they allowed to be there? That is the whole ask. For two years the Trump administration has gone to blue states asking for their voter rolls and their welfare rolls so they could be run against the federal non-citizen database, and the answer from those Democrat run states has been no, and when the Justice Department took them to court the judges stepped in and said no too.
Let me explain how stacked this deck is. Eighteen states handed over their files. Twenty six refused. DOJ sued, and in all 26 of those states a federal judge dismissed the case, and then on October 9 a judge in D.C. named Sparkle Sooknanan wrote 78 pages to vacate the whole policy and called it "the federal government's attempt to decide who gets to vote." Read that again… checking whether a noncitizen is sitting on the rolls is now the scandal, and the states hiding the list get treated like the heroes.
Now keep in mind what Stephen Miller is actually saying here. In every blue state you can vote or get welfare just by checking a box. No proof, no cross check, nobody looking, and the moment somebody asks to look, the governors lawyer up and the courts close ranks around them. Why would you fight this hard to keep a list secret if the list was clean? If your rolls were accurate you would be first in line to prove it, you would hand the file over and dare them to find a problem. Nobody hides a clean list.
This is the institutional rot people keep pretending is a conspiracy theory. The same crowd that calls every noncitizen voting case isolated is the crowd making sure nobody can ever measure how isolated it really is… and the judiciary is happy to hold the door for them. I have watched this same play run for years now, the people who run the system get to grade their own homework and you get told to sit down, shut up and trust it.
@realDonaldTrump, Mr President, the courts have told you no 26 times. Stop asking permission. Use every lawful tool you have, tie federal election and welfare dollars to clean rolls, and make these states show the American people what they are hiding before November 3.
Pray, Stand, Speak, ACT.
Love,
What all of you good people are thinking
St. John O’Callaghan retweeted
En France, on a inventé le Concorde.
En 1969, il décollait et atteignait Mach 2 symbole de la grandeur gaullienne, conçu pour défier les Américains.
En 1972, le TGV 001 battait le record mondial à turbine (318 km/h).
En 1981, le TGV électrique reliait Paris à Lyon à 260 km/h. En 2007, il pulvérisait encore le record mondial sur rail : 574,8 km/h.
Dans les années 70, le plan Messmer lançait le plus grand programme nucléaire civil de l’Histoire : 58 réacteurs, jusqu’à 70-80 % de notre électricité, une indépendance énergétique que le monde entier nous enviait.
Dassault, Sud-Aviation, EDF, Framatome, la SNCF : nos ingénieurs étaient les meilleurs. On avait dix à vingt ans d’avance sur presque tout le monde.
Puis 1981, Mitterrand. Nationalisations massives (banques, acier, chimie, électronique, aéronautique). Semaine de 39 heures. Lois Auroux. Charges sociales qui explosent. Syndicats tout-puissants. Fiscalité punitive. Droit du travail rigidifié.
En moins de cinquante ans, le socialisme a transformé un pays d’ingénieurs conquérants en un pays de grèves, de délocalisations et de stagnation relative.
L’industrie est passée d’environ 28 % du PIB à 11 %.
Le Concorde a été abandonné. Notre nucléaire a été presque démantelé pendant des décennies faute de choix politique mortifère.
Ce n’est pas le destin, c’est le prix d’une idéologie qui a préféré redistribuer et réglementer plutôt que construire et innover.
A bon entendeur.
