Degenerate Capital

Musings from a former long-only investor. Not investment advice (Please seek help if you 100% trust someone named Degenerate Capital)

[Degenerate Capital @DegenCap0391]

@c_miser @Restructuring__ Classic PE move

[Degenerate Capital @DegenCap0391]

$AMZN will never be a clean story because some part of its business is always under assault.

But doesn’t mean it can’t be a winner LT due to sheer growth in fundamentals

[Rihard Jarc @RihardJarc]

$AMZN essentially trading at AWS + Anthropic stake value, with zero value assigned to all its other parts not to mention the pricing leverage AWS is about to get with the demand for VMs and AWS having the biggest fleet of them.

[Degenerate Capital @DegenCap0391]

Companies that are agreeing to deals for interoperability with Muse are probably going to be long term losers unless they have some physical, real world moat

[Degenerate Capital @DegenCap0391]

@zerohedge

[Degenerate Capital @DegenCap0391]

@paulcerro Also the cars are unreliable as fuck

[Degenerate Capital @DegenCap0391]

@Investor_NICK_ RFK needs a new schtick

[Degenerate Capital @DegenCap0391]

Sometimes I feel like my portfolio is 1 step forward and 2 steps back.

I think my positioning is rational - but maybe I am being too stubborn

[Degenerate Capital @DegenCap0391]

@c_miser @rich_toad @FundamentEdge As long as the filings don’t start becoming sanitized with AI writing

[Degenerate Capital @DegenCap0391]

@P_Remarks It’s actually making it incredibly hard for any app companies to reliably use either for scaled production experiences.

All the models require heavy testing/evals and if you are shoving out new models every month, the upgrade churn may not be worth the incremental capability

[Degenerate Capital @DegenCap0391]

@c_miser This is benign compared to what else he is posting

[Degenerate Capital @DegenCap0391]

@c_miser Buy it for the ticker alone

[Degenerate Capital @DegenCap0391]

@jbulltard1 The idiots are the loudest

[Degenerate Capital @DegenCap0391]

@PythiaR This is what happens when the crypto bros pivot to AI

[Degenerate Capital @DegenCap0391]

@OddStats @PythiaR

[Degenerate Capital @DegenCap0391]

Everyday Black Mirror becomes a little bit more non-fiction

[Karen Piper @PiperK]

The White House wants you to download a tracking device.

[Degenerate Capital @DegenCap0391]

@c_miser So capital concentration + leaner back office?

I don’t think there are enough star PMs and capital will always flows to demonstrated alpha.

Doubt we ever get some explosion of baby hedgefunds

[Degenerate Capital @DegenCap0391]

I imagine the proliferation of consumer agents is going to lead to no “benefit of the doubt” in customer service interactions, outright bans (see Instinct v. Resy), and growth of process friction.

Not saying this is reasonable - but certain profit pools are being put at risk.

[Degenerate Capital @DegenCap0391]

@c_miser I mean the reason I used Amazon is because of real-world convenience.

They have massive supply side advantages and a huge logistics moat.

I wouldn’t trade 2 minutes of amazon clicking for for longer delivery window.

[Degenerate Capital @DegenCap0391]

@dalibali2 “Option value”