Frank Bishop

Finding Interesting Companies

[Frank Bishop @BluegrassFunds]

@RealJimChanos Chip supply is not the bottleneck. Data centers with chips + energy + infrastructure is the constraint. Don't get lazy with the analysis @RealJimChanos. Do the work.

[Frank Bishop @BluegrassFunds]

@inversorBetico @Too_Much_Reason @blueorigin $ASTS is fundamentally a bet on the technology that ASTS provides as well as the cheaper cost to orbit than Blue + Space X and others are projecting. The second part of that thesis had a setback last night.

[Frank Bishop @BluegrassFunds]

@onzathegreat @TsarinaBomba You just need more sand. Also try out using 4 poles. But everytime you think it cant handle the wind add more sand to the bags and pull the rope tighter. With enough pressure it will hold up

[Frank Bishop @BluegrassFunds]

@JeffBarclayCPA @kejca You could read wikipedia, ask Grok, or Google it. We pull out 100 million a day. Could do the math on what that means for production if you expand that hundred million out ten million years. Then do the math on what temperature it forms. How much volume that is.

[Frank Bishop @BluegrassFunds]

@JeffBarclayCPA @kejca But that's also a drop in the bucket compared to what is pulled out.

[Frank Bishop @BluegrassFunds]

@bendee983 For every company token maxing you have 5 more late movers coming in. Ready to spend on OAI and Anthropic for years to come. Then you'll also have an improved model with additional capabilities that have unlocked X% higher potential revenue. Guessing the top game is getting old.

[Frank Bishop @BluegrassFunds]

@TuneLower @therollupco Lol yes. If you see him on a few podcasts like this, you know he is planning to short the momentum or already has. He may actually believe in these on the long side but anytime he is doing the circuit, he is definitely hedged short or flipped completely.

[Frank Bishop @BluegrassFunds]

@baroqueobama87 @SouthernValue95 But the curve certainly seems to be up for non-coders. Models improve and new possibilities keep emerging. Executives I know get deeper in the weeds every month.

[Frank Bishop @BluegrassFunds]

@cyb3rops Everyone is considering this. They're just also considering that the demand for frontier tokens is rising exponentially at the same time. Frontier models take a smaller slice of a much much larger pie.

[Frank Bishop @BluegrassFunds]

@tokenlimitto0 @GaryMarcus Spacex would cancel one of their biggest revenue sources right as they go public? Anthropic would cancel their biggest compute provider when they do anything they can do find capacity? I guess Exxon could stop selling oil too if they wanted.

[Frank Bishop @BluegrassFunds]

@bendee983 A company like Cursor was heavily reliant on VC subsidies. They're selling discounted tokens, which you talk about being discounted by OAI and Anthropic. A subsidy on already subsidized tokens.

[Frank Bishop @BluegrassFunds]

@AlbertAppleyard @JCanNuSH You'd see the same thing with a weightlifter if they maintained a calorie surplus and stopped lifting weights. Body weight would transition from muscle to fat up to a certain point.

[Frank Bishop @BluegrassFunds]

@AlbertAppleyard @JCanNuSH Bima is driving the muscle growth/retention. If the participant is gaining weight they are in a calorie surplus. Usually that would retain muscle. But the lack of myostatin signaling is likely causing the body to not see the benefit of maintaining the muscle.

[Frank Bishop @BluegrassFunds]

@rdd147 Cash flow is much more important than revenue number. If they expect to need cash to fund the next level up in cash flow they should do it. TPUs and owning data centers is cheaper in the long run as they have more certainty around compute needs. Lot of reasons to go public.

[Frank Bishop @BluegrassFunds]

@rohindhar What about something like this here? https://t.co/eJHJpLrzZd

[Frank Bishop @BluegrassFunds]

@darioperkins @patrick_saner At some point we have to accept the trend that model improvement is real, compute demand continues to rise as a result. Something needs to happen to break that paradigm. Maybe it will? But that's the case I think bears need to make.

[Frank Bishop @BluegrassFunds]

@darioperkins @patrick_saner Inference demand is likely 2/3rd + at this point. We likely have $100b + in ARR. All of the debate is fun but we know that every month there's potentially the next hot use case that causes inference demand to surge. We have seen this for 2+ years now.

[Frank Bishop @BluegrassFunds]

@thekriskay @dalibali2 Having your own model is a good fallback.

[Frank Bishop @BluegrassFunds]

@pepemoonboy Great write up. I'm surprised this has not had more traction this year. PS makes sense with margins this low but I see those continuing to grow.

[Frank Bishop @BluegrassFunds]

@CristosTrades @SnowCapResearch Up another 50% from this screenshot.