Starter Ending

[Hedgie @HedgieMarkets]

🦔Nvidia announced agreements yesterday with the six biggest names in private capital, Apollo, Blackstone, BlackRock, Brookfield, Goldman Sachs, and KKR, to raise over $500 billion so its own customers can buy Nvidia chips. These are memorandums of understanding, with final terms still to come. Jensen Huang is calling GPUs a new investable asset class, like real estate or toll roads. The financing lets OpenAI and others buy hardware without putting it on their balance sheets.

My Take
I flagged Nvidia's customer financing back in July. This is that same idea, now at 60 times the size. Lucent and Nortel ran this exact play in the late 1990s, when they lent customers the money to buy equipment they couldn't otherwise afford. Both ended in the largest corporate bankruptcies of their day. The vendor lends to keep its own revenue up, the sales look strong for a while, and the risk stacks up on the buyer's side of the ledger. We have seen how the story ends.

I don't buy the idea that a GPU is an asset like a toll road. A toll road still earns money in 30 years. A GPU is close to worthless in five, and Nvidia's own next chip crushes the resale price of the last one. So they want pension funds and insurers to lend half a trillion dollars against hardware that ages like fruit, and the six firms who put the deal together collect their fees up front no matter how it turns out. Huang keeps his sales up and hands the downside to whoever holds the paper. I have watched this movie twice now, and the vendor never ends up holding the bag. Everyone downstream does.

Hedgie🤗

[Darth Powell @VladTheInflator]

It took me 15 years of corporate hell to live the lifestyle of a mildly attractive unemployed female college sophomore.

[High Yield Harry @HighyieldHarry]

If you’re a founder and this even crosses your mind you are ngmi.

Burn the boats and tie yourself to the ship.

[James Tate @JamesTate121]

Projecting, AGAIN! More likely the billionaires buying up all the properties. My friend works for a rental team, and she says the majority of the owners were overseas slum lords.

[Eric Nuttall @ericnuttall]

Helima Croft is one of the most plugged-in analysts I know, and the market's absolute conviction that things are simply going to go back to normal with zero consequences when (if) the Strait "opens" amazes both of us.

[Matthew Jury @MattJury_Law]

There are a couple of important inaccuracies here that are worth correcting.

There is no “courthouse trial” of Andrew and Tristan Tate on 13 August. Tomorrow’s hearing concerns whether they should remain in custody while they fight extradition to the UK. It will not determine the criminal allegations against them or whether they should ultimately be extradited.

Nor is it correct to say that the UK has provided “ZERO evidence”. The UK has until 16 September to submit its full extradition request and supporting material. That deadline has not yet passed.

The filing made this week is the US Government’s opposition to the Tates’ release in the meantime. Prosecutors rely, among other things, on the seriousness of the UK charges and Andrew Tate’s own previous statements about multiple passports and identities, avoiding detection, and “never getting extradited” to argue that the brothers present a flight risk.

It is regrettable that misinformation about these proceedings continues to be repeated by the Tates’ supporters. There will be plenty to argue about as the case progresses, but we should at least be clear about what is actually happening in court.

The Tates deny the allegations against them and are entitled to a fair trial. Their alleged victims are equally entitled to their day in court.

[Heather Long @byHeatherLong]

The big problem: Inflation is wiping out all wage gains.
This has been happening for 4 months now

This is why people are dipping into their savings and/or turning to credit. Yes, consumption has looked pretty good lately. But can that continue?

For middle-income and lower-income Americans, this is the key issue. There will likely be some belt-tightening ahead.

[Alex @alex_avoigt]

🇮🇹 Italy’s largest river is currently nothing more than a pile of sand.

This is the result of the actions of the oil and gas industry, as well as many other economic sectors and right-wing parties that deny climate change.

It may look like nothing more than a river without water, but the consequences are severe, costly, and long-lasting.

[Joe Weisenthal @TheStalwart]

Many of you wouldn't get it, because not everyone is the same, but something distinct about *my* country is that people who live in cities like to mock the behavior of rural bumpkins. We also like lively wit, physical comedy, and feeling free.

[VideoLAN @videolan]

This is because of a « bug » from Microsoft Defender in one update of Windows 11, who magically made VLC plugins cache quarantined by Windows.
Reinstalling VLC or regeneration of the plugin cache will fix this.

Calling open source software embarrassing when it is a Windows update that broke it is quite disrespectful.

[La Gbê @KingMVP225]

Anonyme : J’ai 40 ans et j’en ai ras-le-bol. Je ne veux plus flasher un QR code pour lire la carte d’un restaurant.
Je ne veux plus créer un compte pour récupérer un colis.
Je ne veux plus passer par Doctolib, France Connect ou une énième appli pour le moindre truc administratif.
Aujourd’hui, même aller chercher un colis, manger en terrasse ou payer un stationnement devient un parcours digital obligatoire.
On te demande un compte, un mail, un numéro de téléphone, parfois même une validation par SMS… pour des trucs qui prenaient 30 secondes avant.
J’ai pas envie d’avoir quinze applications pour simplement exister dehors.
J’ai pas envie de laisser mes données à chaque commerce ou service.
Je veux juste pouvoir vivre dans le monde réel sans qu’on me mette une laisse numérique à chaque coin de rue.
Franchement, vous aussi vous en avez marre de ce système… ou c’est juste moi qui commence à péter un câble ?

[King Roy @RoyIsThaTruth]

Why do white people refuse to believe that they are the biggest recipients of SNAP benefits? They wanna make it a black thing soooooooooooooo bad.

[kira 👾 @kirawontmiss]

LMFAOOOOOO

[Eddy Fisher @Eddyfisher230]

Howard knew exactly what was happening to his reputation and the worst part was knowing nobody believed him.

🎬 Better Call Saul — S6E7, “Plan and Execution”

Do you think Howard could have saved himself at this point?

[M.K.S @_itsMks]

The fact that Sheriff Doreen’s hat keeps growing with every cut is ridiculous

And somehow, that’s what makes it hilarious (Scary Movie)

[Malvin @ManOfFocus_]

you'll touch your first $1M in this year.

[TheBossRoss 🇪🇺 🧶 ❄ 📷 6x💉 @BettinaSRoss1]

John Feeley, the former US ambassador to Panama, describes the first meeting with Trump that ultimately led him to resign.

Everyone (in politics) needs to be aware of this. That's what it boils down to.

[best of better call saul @bestofsaulgood]

It's crazy how manipulative Gus is. He orchestrated the whole thing. Made sure that the salamancas aren't able to transport the product themselves so he is the only one that can do so. He puts Hector in the position where he would need him and then also makes sure that Hector thinks it's his own idea. He makes sure to act reluctant and feel insulted about the whole ordeal to sell the lie that it was his doing all along. It is this event that eventually leads to Eladio handing over all of the north to Gus and Hector was none the wiser

[Milley Michael @MilleyMich39119]

I bet you won’t see any video funnier than this today

[Le Japhé @officialLeJaphe]

Oh, Barney 😂😂

How I Met Your Mother 🎬🍿