This is an excellent point. Taking it in a somewhat different direction, this probably ups the chances of AI overinvestment, as the people making capex decisions may be overestimating the size and timing of benefits to users broadly.

Lora Kolodny@lorak.bsky.social · 7h ago

was discussing with a fellow traveler today -- but programmers, coders, developers are having an *entirely* different experience of LLM-based products and services than the rest of us, especially the plagiarized plebeians among us (writers, reporters).

Curious why the UK takeover panel didn’t force AZN to make a statement. (I do not remember the ins and outs, but seems like it’s material enough)

Carl Quintanilla@carlquintanilla.bsky.social · 14h ago

* EXCLUSIVE -- THERE ARE 'NO DISCUSSIONS' HAPPENING BETWEEN ASTRAZENECA AND BRISTOL MYERS SQUIBB OVER POTENTIAL DEAL, SENIOR SOURCE CLOSE TO MATTER SAYS * EXCLUSIVE -- 'NEVER WAS A DEAL TO BE DONE' BETWEEN ASTRAZENECA AND BRISTOL MYERS SQUIBB, SENIOR SOURCE CLOSE TO MATTER SAYS @reuters.com $AZN

I don't understand the math behind wanting to own autonomous vehicles. Why is spending, IDK, $100k on a car without a driver preferable to hiring a guy for a minimal salary who brings his own car and is responsible for depreciation and maintenance? www.ft.com/content/04d6...

Uber pledges $10bn to win robotaxi race

Chief Dara Khosrowshahi lauds strong bookings and record cash flow as company seeks to fund costly AV push

ft.com

Sunday: I’ll do a quick fact check of this insane RFK Jr interview Monday: Up to 40 lies & it was only a 3 min clip! Tuesday: Ready to defend my 2nd PhD thesis on fascist quackery That's why @saveamericamvmt.bsky.social & I are holding him accountable rasmussenretorts.substack.com/p/rfk-jr-is-...

RFK Jr is Asking to Be Proven Wrong Again So Here Are 40 Examples From Just One CNN Interview

He's just creating work for us at this point

rasmussenretorts.substack.com

Flake was my boss in college. We didn’t see eye to eye on quite a few things but he is very much a decent guy and willing to buck establishment for the common good.

MeidasTouch@meidastouch.com · 2d ago

NEWS: Former Senator Jeff Flake (R-AZ) has endorsed Senator Jon Ossoff (D-GA) for re-election Flake: “I’m still a conservative Republican. But character matters. And I want someone in that seat who takes the institution seriously and will protect the institution.”

Profile of Ellison and $ORCL in the NYT www.nytimes.com/2026/07/31/m...

This quote on SpaceX contains multitudes of ironies. "This is not going to be a free cash flow story now, ​soon, or maybe even ever," said Bill Birmingham, managing director at REX Financial, which offers ETFs tied to SpaceX stock.

Rereading Gibson’s Count Zero and it’s funny that he nails that any good cyber security or effort to crack it is AI because humans can’t possibly keep track of, alter and take advantage of all this information. But a character has to find a pay phone for a line to hack into cyberspace

Will see if $BMY $AZN comes to anything, but combining two patent cliffs into one does not change the size of the cliff. Can get really big cost cuts but investors don’t tend to value these highly. To give an unfair example - Pfizer paid $160bn for Wyeth and Warner Lambert. Market cap now $140b

Would be very funny if Warsh tried to sell all this as he’s a believer in rational expectations, so monetary policy changes are only effective when they surprise people (no guidance, unspecified meetings).

So how much could the guy raise for a new fund, assuming A) adults put in charge of risk management and trading B) no fraud etc took place.

Good thread - basically classic tale similar to what happens after my dog saw a whole turkey carcass sitting out. Temptation and then the boy flew too close to the sun

Quantian@quantian.bsky.social · 6d ago

Obviously now that it’s massive headline news a bunch of people who know nothing about the situation will comment stupid things about it (esp because it’s AI related) but the Leopold blowup is quite shocking to basically every professional investor who was following him for several reasons:

Kind of funny that Apple decreased their capex. Spent $6.8bn in quarter compared to $9.5 a year ago. At this pace they’d spend in a year just what Amazon added to their guide (went from $200bn to $220bn)

So...what other hedge funds, asset managers, crypto funds are run by EA guys? Would be extremely funny if this were as good a signal as "company run by former Jack Welch protege."

Adding illiquid private holdings to levered portfolio of volatile stocks....may have been a mistake

"In retrospect, your honor, letting a 24 year old name a hedge fund after....what some might say sounds like a euphemism for MNPI was a mistake"

NPV10@npv10.bsky.social · 7d ago

This together with the fact that his fiance is the Chief of Staff at Anthropic is particularly funny to me. Seems like this thing is more likely to implode before the inevitable insider trading case tho?

Great presser.

These $SPCX structured products are ridiculous. Take some monthly feed for surrendering upside, trussed up like a turkey if Thanksgiving comes.

Warsh’s responses are as impressive as his views on the need to fight inflation in 2008.

Here we go - think we see more expansion of conflict thanks to proliferation of drones and targets elsewhere if Iran wants to raise prices: www.reuters.com/world/middle...

Drone hits gas storage tanker at Egypt's Mediterranean port, Ambrey reports

A drone hit a U.S.-owned gas storage tanker ​at Egypt's Mediterranean port of Damietta, British maritime security firm ‌Ambrey said on Wednesday, citing an initial assessment of the incident.

reuters.com

There are absolutely huge barriers to entry and giant returns to scale in commercial jet production. Boeing’s survival despite staggering incompetence is the flip side of why this company will die. www.wsj.com/client/auth?...

Could the Most Radical Plane Design Since the Concorde Take On Boeing?

JetZero’s blended-wing aircraft, the Z4, just got a boost from Washington: a $3 billion loan commitment to help start production.

wsj.com

Very sorry for introducing a product mathematically guaranteed to lose you money if there is volatility (and underlying is….memory?)

Reuters@reuters.com · last wk.

Top South Korean policy makers apologise for single-stock leveraged ETFs reut.rs/4xey2DP

The Ukrainian repeated attacks on Wikdberries (50% of Russia e-com share) are fascinating. Aim seems to be to pressure Russian financial system. Has $11bn of debt but I gather also provides vendor financing and close ties to VTB. www.reuters.com/business/fin...

Russia explores support for Wildberries after Ukrainian drone attacks, sources say

The Russian government is exploring ways to support Wildberries, the country's biggest online retailer, and related businesses after Ukrainian drone attacks, with state-controlled bank ​VTB expected t...

reuters.com

South Korea now in the “When in danger or in doubt, run in circles scream and shout” part of the cycle.

George Pearkes@peark.es · last wk.

Ruh roh *SK HYNIX 2Q OPER PROFIT 60.54T WON, EST. 64.22T WON

Co-worker reminded me that Trump sponsored a bike event in the 1990s that was going to be the US equivalent to the Tour de France, called Tour de Trump. It lost a legal battle to stop another race called the "Tour de Rump" from operating, as the Tour de Rump started several years previously.

So Musk's X Money offers a 6% yield. Two mysteries: A) how on Earth could you earn money paying depositors 6%. B) SpaceX total addressable markets was $28.5 trillion (over 20% global GDP) according to SpaceX prospectus. But this did NOT include banking.

This is so stupid it's annoying. Robots currently useful for hospital marketing (show donor the robot!) and for assisting surgeons in tightly-packed areas (e.g. prostate). Given variability of human anatomy, uncertainty in decision making, and legal liability, will take a long time.

Tales From The Future@talesftf.bsky.social · last wk.

After a decade of fake FSD promises: Musk is claiming that “Optimus will beat top surgeons in 3 years”. Can’t stop, won’t stop. $TSLA $TSLAQ “Elon Musk calls medical school 'pointless,' says robots will beat any surgeon in 3 years — telling students to walk away” finance.yahoo.com/sectors/heal...

New AI monitization scheme encountered - pay $29.99 and sleep away camp will automatically send you pictures of your kid using facial recognition. I'm actually ok with this (except should be free), as camp does not allow kids to have devices, which is a good thing.

Deals that kill seven birds with eight stones (each step contingent on others) is some very late stage nonsense. www.wsj.com/tech/ai/nvid...

Articles about young people dating are too judgy and I think putting stuff down on a spreadsheet is actually good because it requires thinking. But I suspect people here think their patterns are a good thing (but if you have a pattern and your dating life isn’t working out…)