NoCapsCap

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[NoCapsCap @NoCapsCap1]

It’s becoming less clear by the day who is the useful idiot🤔

[NoCapsCap @NoCapsCap1]

@Ren_aramb I’m not joking…I got long brun because Jalen Brunson is the GOAT

[NoCapsCap @NoCapsCap1]

@RihardJarc This may be the first of its kind, at least what I can remember, capital raise (this type at this volume)…this could lead to eye watering capital deployment no one, and no model, could have seen coming

[NoCapsCap @NoCapsCap1]

@zephyr_z9 @RHouseResearch People are going to realize, not everything in the AI killchain has price inelasticity

[NoCapsCap @NoCapsCap1]

@WarrenPies @BobEUnlimited I like bob and enjoy his perspectives but I’ve seen multiple people raise questions and wish he would defend the thesis, rather than just posting the same graph and not actually engage

[NoCapsCap @NoCapsCap1]

@stevehou The US is leading development (frontier model) but China leads deployment with energy, regulation, utilization

[NoCapsCap @NoCapsCap1]

@MTTrading2 The coverage you linked is impressive, no clue how I had never heard of them before…keep fighting for the good guys!

[NoCapsCap @NoCapsCap1]

@BrettRatner @Starlink @elonmusk Bro talking about rush hour 8 while these two chart the course for mankind

[NoCapsCap @NoCapsCap1]

@Gaurab Same for retra?

[NoCapsCap @NoCapsCap1]

@business @stevehou Someone should have made a futures market for bandwidth in 2000

[NoCapsCap @NoCapsCap1]

@ACapitalLP 🎯

[NoCapsCap @NoCapsCap1]

@FreightAlley Thoughts on what percentage ties directly to data center buildouts?

[NoCapsCap @NoCapsCap1]

Understand the seeds being sown…

[Diane Swonk @DianeSwonk]

Monetary policy is a blunt, highly imperfect tool.

The Federal Reserve, unique in having a dual mandate of promoting price stability & full employment.

When both of its mandates are out of whack, it has to assess which is more out of whack AND what its tools can accomplish.

I would like to believe with the slight majority of the Fed that delivered rate cuts that lower rates are enough to cure what ails the labor market and enable inflation to cool.

However, what I can asses suggests that most of the underlying weaknesses in the labor market cannot by cured with rate cuts alone. The u6, or more holistic measure of unemployment - includes discouraged workers and those forced to accept part over full - rose in 2025 and 2026 in wake of rate cuts. The problems are systemic - related to extraordinary uncertainty - how AI could upend biz models, tech sector issues (cash flow needed for AI), tariffs, war, rising input costs, curbs on immigration & unique issues surrounding care economy (elder & child). If that is the case, then the focus should be more on other half of mandate, which is out of whack - inflation. Not just pandemic or tariff-related price hikes, but service sector inflation in a service based economy.

It is not only persistent but showing signs of accelerating, again…

Now add some more research on inflation & employment & shifting dynamics post pandemic.

Historically, short term pressure to cut rates & juice employment fail if inflation is not tamed. Inflation is a labor market problem. Full employment cannot be obtained or sustained without achieving price stability - that has not occurred for 5 years.

Post pandemic research reveals that the combo of elevated uncertainty amidst repeated supply shocks tend to deliver more persistent & corrosive bouts of inflation. The “look through” supply shock approach is flawed in such an environment- proof in pudding of many central banks late to game is dealing with post-pandemic inflation.

That is why I am concerned that efforts to cut rates by Fed will add insult to injury. To some extent, they already have.

Inflation is a regressive tax, hitting those who can afford it least the hardest - IT WORSENS INEQUALITY. That is big in an economy where inequality is already bad.

It is never easy to think about the complexity of a blunt tool. I do not envy those in the positions of doing so at the moment. But these are some of the issues they are weighing and why we are seeeijg a hawkish shift among central bankers. They are weighing rate hikes with cuts more evenly and some leaning toward hikes. @ECB pretty explicit.

The debate about what to do is welcome. One never knows best trajectory but I like that it is debating and showing signs of being splintered. That reflects humility of this moment.

It would be better to not have to deal with them; that is not in the Fed’s purview. It can only respond to the shocks it is delivered & assess whether its decisions will make the effects worse or better over time. I am old enough to remember the 1970s - we are not there. We should not risk any sort of a repeat. The Fed had to clean up the inflation mess that was result of many policy mistakes, including its own. That was more painful after the fact and it left scars. That is what keeps me up at night.

[Jared L Kubin @JaredKubin]

Guys... Last time we saw this type of Euphoria and P&L screenshots I started my list… do we need a List 2.0?!

For your entertainment... Some bangers in there

[NoCapsCap @NoCapsCap1]

@gamesblazer06 Spot on

[NoCapsCap @NoCapsCap1]

@burgessev Amazing to see a midterm commercial/visual just served up to the other party on a a silver (gold plated 🤷‍♂️) platter

[NoCapsCap @NoCapsCap1]

@Lord_Ashdrake But are there kalshi or poly market up on it yet?

[NoCapsCap @NoCapsCap1]

@pmarca @naval This isn’t AGI

[NoCapsCap @NoCapsCap1]

The classic, but look at them defense

[Robin Wigglesworth @RobinWigg]

I'm not sure "our users actually lose slightly less than these legendary money incinerators" is a strong line tbqh.

[NoCapsCap @NoCapsCap1]

@junkbondanalyst Cohen is taking direct aim at Rubin, going to be interesting to watch it play out

[NoCapsCap @NoCapsCap1]

@EffMktHype 🤣