GDP

Hold onto the Holocene

[Elon Musk @elonmusk]

A new election should be called in Britain

[GDP @GDPCapital]

@HindenburgRes Your hit rate has to be 95% plus?! Amazing work 👏

[Hindenburg Research @HindenburgRes]

Swiss authorities have frozen more than $310 million in funds across multiple Swiss bank accounts as part of a money laundering and securities forgery investigation into Adani, dating back as early as 2021.

Prosecutors detailed how an Adani frontman invested in opaque BVI/Mauritius & Bermuda funds that almost exclusively owned Adani stocks, according to newly released Swiss criminal court records reported by Swiss media outlet @news_gotham.

https://t.co/JQOD0DeUjB

https://t.co/DngjkYTu6a

[VCs Congratulating Themselves 👏👏👏 @VCBrags]

Forbes 30 under 30 to prison pipeline remains undefeated

[Michael A. Arouet @MichaelAArouet]

German approach to fight climate change:

1. Close nuclear power plants

2. Keep coal mines and coal power plants going instead

3. Underreport coal mines emissions by factor of 184

4. Make energy intensive industries not profitable in the process

Genius, simply genius

[Compounding Quality @QCompounding]

10 Tweets that will change your life forever

1. Shut up and wait:

[J.K. Rowling @jk_rowling]

Calling a man a man is not 'bullying' or 'punching down.' Crossdressing straight men are currently one of the most pandered-to demographics in existence, and women are under no obligation to applaud the people caricaturing us.

[Nahel Belgherze @WxNB_]

BREAKING: Thousands of reports of Northern Lights coming in from multiple locations across Europe. A severe G4 geomagnetic storm is currently affecting Earth. Truly the most stunning aurora show in years. Currently visible as far south as northern Italy.

[Hindenburg Research @HindenburgRes]

Equinix appears to have gone “all-in” on accounting manipulation.

Yesterday, the company reported that it had exonerated itself through what it called an “independent investigation”, while reporting more plainly bogus financials.

We have seen quite a few abuses of the term “independent investigation”, but none quite as stark as here.

The company’s audit committee – the same group responsible for blessing the financials called into question - had “full discretion” over the investigation into itself. Predictably, it concluded that its own practices were flawless.

The company failed to address a single finding from our report, which provided granular evidence of accounting manipulation, sourced through voluminous documentation and interviews with 37 former Equinix employees, industry experts and competitors.

The company provided no information on the scope, length or methodology used in its review and failed to name any of the outside advisors it engaged in the process.

Equinix claims the 6-week review, conducted almost entirely in secret, has thoroughly examined the practices of a company with 13,000 employees and operations sprawled across 33 countries.

Rather than alleviating investor concerns, we believe the company’s unwillingness to commission an actual independent investigation is another major red flag.

Instead of addressing extensive evidence of accounting manipulation, the company simply doubled down, reporting Q1 financials with glaring and obvious anomalies:

- Revenue grew about 1% in the quarter, or ~$17m. Free cash flow was negative $126m. Billed cabinet growth, a key measure of actual physical infrastructure growth, turned negative, decreasing 0.2% QoQ.

- Despite this, the company claims it spent $686m in ‘growth’ CapEx to support this non-growth in the quarter.

- Meanwhile, the company reported higher AFFO, fueled by lower ‘maintenance’ CapEx of $21m, down 8.6% YoY, continuing to artificially boost its reported AFFO.

- Going forward, despite low projected 2024 revenue growth of 6%-7%, ‘growth’ CapEx is guided to spike to all-time highs, by up to 9.2% YoY.

We reiterate that Equinix is one of the most obvious accounting scams we have seen, operating in broad daylight.

With the Executive Chairman & CEO stepping back in Q2, it seems the company hopes to simply ignore its issues and hoist the problem over to new management.

We remain short. $EQIX

[Curiosity @MAstronomers]

Jupiter from the James Webb Space Telescope

[Space @redditSpaceView]

The James Webb Space Telescope's views (clockwise) of Jupiter, Saturn, Neptune, and Uranus

[Hindenburg Research @HindenburgRes]

BREAKING: Nikola founder Trevor Milton has just been sentenced to 4 years in prison for fraud.

[GDP @GDPCapital]

#Hindenburg research reports are an expert guide to DD: test, test and re-test. Incredible, every-time

[Hindenburg Research @HindenburgRes]

NEW FROM US:

EHang—Hollow Order Book And Fake Sales Make This China-Based eVTOL Company Last In Line For Takeoff

https://t.co/KkrdQPxz6i $EH

(1/n)

[Leon Simons 🌍 @LeonSimons8]

🌍🌊🌡️📈🔥
Not entirely unexpected, still beyond extreme.

Global Sea Surface Temperature Anomaly reaches new record daily high of 0.77°C above 1982-2011 mean.

El Niño is starting to show itself amongst natural variability, long term GHG warming and a sulphur termination shock.

[Climate Crisis Advisory Group @ClimateCrisisAG]

Something unprecedented is happening to Antarctica sea ice.

CCAG'S @ClimateNerilie outlines the scale of the loss – and the implications.

🧵

(1/4)

[INSEAD @INSEAD]

In a conversation with our students, the legendary #Investor @HowardMarksBook of @Oaktree Capital Management answered the student's questions regarding his #investment philosophy, the market, and more.

Watch the full session here: https://t.co/0BT4oDSbt1

[International Energy Agency @IEA]

Global investment in clean energy is on course to rise to $1.7 trillion in 2023.

And for the first time ever, solar is set to attract more capital than oil production this year.

This reflects the changing tide in the energy world → https://t.co/kjxM13Lci8

[GDP @GDPCapital]

@eaamalyon Depends who holds influence at this juncture within the family - my u/s of SJR=a lower price for Glazers’ cashing out today with higher earn-out for those holding. So doesn’t quite equalise to your synthesis above - pending who is cashing out, when, & their respective influence

[GDP @GDPCapital]

@ianmiles @jk_rowling keep fighting this, pls 😭

[Guardant Health @GuardantHealth]

We’re thrilled to receive U.S. FDA approval for our Guardant360 CDx liquid biopsy test as a companion diagnostic to identify advanced #breastcancer patients with ESR1 mutations who may benefit from @Stemline's ORSERDU targeted therapy.
https://t.co/3nSiSkH8LF