Compound248 💰

"That thing that rich people do where they turn money into more money. Can you teach me how to do that, Jack?” - Tina Fey, 30 Rock Jack, “With my eyes closed.”

[Compound248 💰 @compound248]

I’ve been blessed to spend time with many of the world’s great investors.

20 years ago, I made a point to hunt down the best. Many are now popular on Fintwit - Nick Sleep, Li Lu, Chuck Akre. Others should be - Chris Hohn, Larry Robbins, and more.

For🎄: 12 lessons I learned🧵👇

[Compound248 💰 @compound248]

@DWeisburd SpaceX, Anthropic, and OpenAI have the potential to drive MASSIVE DPI for endowments in FY2027. Cursor, Cerebras, etc as icing.

Part of the lack of DPI has been the numerator inflating by homerun, undistributed winners.

That’s about to change dramatically:

[Compound248 💰 @compound248]

The world has no idea how GIANT a position the entire Endowment & Foundation industry has in SpaceX.

There is at least one major endowment that has a 20% SpaceX position and MANY others with 5-10% (on a look-through basis at $900B valuation).

At $1.5T, things get wild...

[Compound248 💰 @compound248]

@BeckyQuick Presumably there is a health ROI that could more than offset the drug costs if usage reduces obesity.

[Compound248 💰 @compound248]

Update:

Eighty FIVE billion dollars.

[Compound248 💰 @compound248]

I like how everyone is like, “how come Google didn’t issue $80 billion of debt?”

Friends, please.

Let me count the ways:

1. Would be 1.5x larger than the largest corporate IG deal ever, even as lenders are retreating.

2. Stock was ~5% off ATHs at announcement.

3. $GOOG is clearly preparing to burn tremendous volumes of cash for multiple years:

The 2027 and ‘28 CapEx forecasts of $240 and $250 billion might be low by $100 billion each. Debt may come, but don’t rush it.

4. At this point in their lives, Larry & Sergey are not optimizing for Corporate Finance 101; they are optimizing for ongoing dominance. And if that costs them ~2% of the company, so be it.

[Compound248 💰 @compound248]

@JerryCap Is that good?

It doesn’t seem good, but you never know.

[Compound248 💰 @compound248]

@USAttyEssayli This can’t be a real tweet by a real person.

[Compound248 💰 @compound248]

@BoringBiz_ You don’t have to pick on me so aggressively.

[Compound248 💰 @compound248]

@JoeyJorgensen

[Compound248 💰 @compound248]

@junkbondanalyst lol

[Compound248 💰 @compound248]

One of the dumbest humans ever is being tapped to lead national intelligence!?

The irony is so palpable it physically hurts.

What a world!

[Compound248 💰 @compound248]

@FrankieFF_ Doing it before "you" need it, but right when "they" need it for the W.

[Compound248 💰 @compound248]

@BuffaloBillCo I'm tempted to agree, though I'd note a lot of that view rests on the word "peak."

[Compound248 💰 @compound248]

@ToddWenning "Getting greedy when others get...greedy"?
https://t.co/Ke1kqvHPaH

[Compound248 💰 @compound248]

Greg Abel gettin' jiggy with it:

$BRK is investing $10 billion directly into $GOOG to help fund its AI buildout plans as part of an $80 billion overall equity raise:

$10B - BRK
$30B - underwritten offering
$40B - ATM to begin Q3 2026

Abel has now announced $17B across two deals in the past 24 hours.

[Compound248 💰 @compound248]

@ScroogeCap Nothing like pitching an $80 billion equity raise as heralding a move "to more rational spending."

[Compound248 💰 @compound248]

@sundarpichai Even $GOOG is raising equity.

Just imagine Alphabet's 2027 CapEx guide...you literally can't.
https://t.co/Ke1kqvHPaH

[Compound248 💰 @compound248]

Greg Abel gettin' jiggy with it:

$BRK is investing $10 billion directly into $GOOG to help fund its AI buildout plans as part of an $80 billion overall equity raise:

$10B - BRK
$30B - underwritten offering
$40B - ATM to begin Q3 2026

Abel has now announced $17B across two deals in the past 24 hours.

[Compound248 💰 @compound248]

If I am @sundarpichai, I will bury all competing foundational models in negative gross margin tokens for eternity.

I will NEVER take my foot off the pricing gas: to merely compete, I will force you to dilute your equity into oblivion.

Sam will drown in my tsunami of COGS. $GOOG

[Compound248 💰 @compound248]

@sundarpichai Feel the hate flowing through you, Sundar.
https://t.co/Ub9CsZIUrZ

[Compound248 💰 @compound248]

"Good, Sundar."

"Use your aggressive feelings - let the HATE flow through you."

"Feel the power of the dark side."
- Compound Palpatine, $GOOG

[Compound248 💰 @compound248]

@nw3 @sundarpichai Indeed.

[Compound248 💰 @compound248]

@RJCcapital I can't wait to find out where all these players set their 2027 CapEx guides.

It's going to be insane.
https://t.co/YRddd7vRbY

[Compound248 💰 @compound248]

To quote my friend @SouthernValue95, “Abel getting greedy when others get…greedy?”

Can’t wait to find out what $GOOG’s 2027 CapEx guide will be, but it will be insane.

Hard to sell the $TSM’s or $MU’s of the world with that looming…

[High Yield Harry @HighyieldHarry]

Banger of a quote well before this Google equity raise

[Compound248 💰 @compound248]

@nw3 Agreed.

[Compound248 💰 @compound248]

I like how everyone is like, “how come Google didn’t issue $80 billion of debt?”

Friends, please.

Let me count the ways:

1. Would be 1.5x larger than the largest corporate IG deal ever, even as lenders are retreating.

2. Stock was ~5% off ATHs at announcement.

3. $GOOG is clearly preparing to burn tremendous volumes of cash for multiple years:

The 2027 and ‘28 CapEx forecasts of $240 and $250 billion might be low by $100 billion each. Debt may come, but don’t rush it.

4. At this point in their lives, Larry & Sergey are not optimizing for Corporate Finance 101; they are optimizing for ongoing dominance. And if that costs them ~2% of the company, so be it.

[Compound248 💰 @compound248]

Greg Abel gettin' jiggy with it:

$BRK is investing $10 billion directly into $GOOG to help fund its AI buildout plans as part of an $80 billion overall equity raise:

$10B - BRK
$30B - underwritten offering
$40B - ATM to begin Q3 2026

Abel has now announced $17B across two deals in the past 24 hours.

[Compound248 💰 @compound248]

@ssuph @RealJimChanos You’re citing me to me:
https://t.co/EHdjzpI5Vs

[Compound248 💰 @compound248]

If I am @sundarpichai, I will bury all competing foundational models in negative gross margin tokens for eternity.

I will NEVER take my foot off the pricing gas: to merely compete, I will force you to dilute your equity into oblivion.

Sam will drown in my tsunami of COGS. $GOOG

[Compound248 💰 @compound248]

@SouthernValue95 @SleepwellCap “Go big or go home.”
- Larry Page, probably
https://t.co/p74ErkzsOe

[Compound248 💰 @compound248]

I like how everyone is like, “how come Google didn’t issue $80 billion of debt?”

Friends, please.

Let me count the ways:

1. Would be 1.5x larger than the largest corporate IG deal ever, even as lenders are retreating.

2. Stock was ~5% off ATHs at announcement.

3. $GOOG is clearly preparing to burn tremendous volumes of cash for multiple years:

The 2027 and ‘28 CapEx forecasts of $240 and $250 billion might be low by $100 billion each. Debt may come, but don’t rush it.

4. At this point in their lives, Larry & Sergey are not optimizing for Corporate Finance 101; they are optimizing for ongoing dominance. And if that costs them ~2% of the company, so be it.

[Compound248 💰 @compound248]

Greg Abel gettin' jiggy with it:

$BRK is investing $10 billion directly into $GOOG to help fund its AI buildout plans as part of an $80 billion overall equity raise:

$10B - BRK
$30B - underwritten offering
$40B - ATM to begin Q3 2026

Abel has now announced $17B across two deals in the past 24 hours.

[Compound248 💰 @compound248]

@SouthernValue95 Actually, that quote was a different (mutual) friend: @SleepwellCap.

Both with the wit we need for this moment.