Every cycle teaches the same lesson in a louder voice: the people who make life-changing money are rarely the ones who waited for the perfect entry. They are the ones who bought when it felt uncomfortable, held when it felt pointless, and stayed when everyone else found a reason to leave.
You cannot control how others treat you, but you can always control whether their treatment defines your worth or simply reveals the limits of their own capacity to love.
We believe the AI debt boom is now driving Treasury yields higher.
Combined bond issuance from Big Tech firms, including their Special Purpose Vehicles (SPVs), is expected to surge to a record $320 billion this year.
This would mark a +$120 billion YoY increase, or +60%.
As a % of Treasury bond issuance, this is estimated to rise to a record ~70%.
This would be more than double the 30% recorded in 2025 and nearly 9x larger than 2024 levels.
In other words, Big Tech is now emerging as a serious competitor to the US government in the long-term debt market, increasingly competing for the same pool of buyers just as investors are demanding more compensation to hold this debt.
Big Tech debt is increasingly competing with US Treasuries for investor capital.
You are not behind. You are not late. You are simply on a path that required more depth, more healing, and more courage than the one you once imagined.
As dusk settled over the streets of New York, the lights of the skyscrapers gradually illuminated the city. The damp pavement reflected the soft glow of the streetlights, and cars slowly weaved between the buildings.