AP

“You can meet with Triumph and Disaster and treat those two imposters just the same” Kipling

[Andrés Illingworth @aillingworth96]

Querían que después de todo Mbappé les de un beso y abrazo 😂 https://t.co/baGKAbp8jQ

[AP @afpb6]

@javierdewit @ecuadorfutbol @Transfermarkt Que tiene que ver lo uno con lo otro?

[Vivek Gupta | Fat Loss Coach @vivekguptaa]

STOP BEING AVERAGE

-Do 90,000 steps a day
-Brush your teeth with creatine
-Eat 900g of protein daily
-Run marathon sub 30 min
-Drink 15 litres of water
-Do a triathlon every Saturday
-Lose 15kg in a week

[Content Rewards @contentrewards]

Physical billboards are dead.

We spent $10,000 to prove it.

Experiment #1

[Spider @blackspiderxs]

I pretend to agree with people so they stop talking

[idkXwho @idk_who_19]

@claudeai Bs kr bhai

[AP @afpb6]

@TheKingLdu La Sister
100% vale verguista ✅

[Russ Faigen @RussFaigen]

@perplexity_ai

[Suhail Kakar @SuhailKakar]

if your friends aren’t talking about:

- claude code
- creatine
- openclaw
- looksmaxxing
- ai agents
- taste
- prediction markets
- mac mini

time to find new friends

[AP @afpb6]

@Arturo_M13 @miguelloor

[AP @afpb6]

@TendenciaDepor Solo vergüenzas con el "ídolo"

[Jack @jackunheard]

Once in a lifetime President.

[Naval @naval]

If you aren’t getting happier as you get older, you’re doing it wrong.

[Manly Mentor @manly_mentor]

Donald Trump reveals the power of Momentum…

[Abril Zucchi @abrilzucchi]

dudes be 27 saying “what’s the move tonight” bro go buy property in venezuela

[Cesar Augusto Londoño @cesaralo]

🚨🚨Elon Musk diagnosticó la enfermedad del siglo XXI:
DÉFICIT DE ATENCIÓN INDUCIDO.
“El formato de videos cortos (TikTok, Reels, Shorts) actúa como "fentanilo digital".
Reduce la capacidad de concentración humana a menos de 8 segundos, inferior a la de un pez dorado. Musk señala lo obvio: Estamos creando una generación de adictos a la dopamina rápida, incapaces de leer un libro, ver una película completa o mantener un pensamiento crítico complejo.

[Brent Beshore @BrentBeshore]

“I've suffered a great many catastrophes in my life. Most of them never happened.” -Mark Twain

[Tesla Owners Silicon Valley @teslaownersSV]

“My children didn’t choose to be born, I chose to have children. They owe me nothing, I owe them everything”

Elon Musk

[Hedgie @HedgieMarkets]

🦔Meta is hiding $30 billion in AI infrastructure debt off its balance sheet using special purpose vehicles, echoing the financial engineering that triggered Enron's collapse and the 2008 mortgage crisis. Morgan Stanley estimates tech firms will need $800 billion from private credit in off-balance-sheet deals by 2028. UBS notes AI debt building at $100 billion per quarter "raises eyebrows for anyone that has seen credit cycles."

The Structure
Off-balance-sheet debt through SPVs or joint ventures is becoming the standard for AI data center deals. Morgan Stanley structured Meta's $30 billion in an SPV tied to Blue Owl Capital, making it easier to raise another $30 billion in corporate bonds. Musk's xAI is pursuing a $20 billion SPV deal where its only exposure is paying rent on Nvidia chips via a 5-year lease. Google backstops crypto miners' data center debt, recording them as credit derivatives.

My Take
This is 2008-style financial engineering repackaged for AI. The key difference from the dot-com era is growth was financed with equity then. Now there's rapid capex growth driven by debt kept off balance sheet. When chips estimated to last five to six years may be obsolete in three, and companies structure deals where their only exposure is short-term leases, that's hidden leverage creating the opacity that preceded past crises. Meta keeping $30 billion off its balance sheet while UBS warns about $100 billion quarterly AI debt buildup shows the pattern I've been documenting where leverage accumulates outside traditional visibility.

Hedgie🤗