Gowri Gurumurthy

@bloomberg @business

[Ed Zitron @edzitron]

Very important point: SoftBank was pledging *all* of its OpenAI stock (worth $60bn+ on paper) to get a $6 billion margin loan. Banks turned it down due to concerns about the value of OpenAI stock. Banks clearly do not think OpenAI is worth $852 billion.
https://t.co/B9ilbd043M

[John Arnold @johnarnold]

One of the only fiscal issues that Illinois has gotten right is playing hardball with public subsidies for a new Bears stadium. The team keeps bluffing a move to Indiana, but its too far from their sponsors and ticket holders. Don't fold, Illinois, don't fold.

[Pope Leo XIV @Pontifex]

Deep inner suffering inevitably arises when the human person is reduced to performance, consumption, or a statistical datum. Many young people today live under the yoke of expectations to perform, immersed in an exasperated competitiveness that generates anxiety, fear of not measuring up, and disorientation.

[Pope Leo XIV @Pontifex]

#AI can be a valuable tool and, at the same time, it calls for a measured and vigilant approach. The speed and simplicity with which practical assistance can be accessed undoubtedly makes life easier. Yet they can also encourage excessive reliance and the search for ready-made answers, and weaken personal creativity and judgment. #MagnificaHumanitas

[Pope Leo XIV @Pontifex]

Artificial intelligences do not undergo experiences, do not possess a body, do not feel joy or pain, do not mature through relationships, and do not know from within what love, work, friendship or responsibility mean. Nor do they have a moral conscience, since they do not judge good and evil, grasp the ultimate meaning of situations, or bear responsibility for consequences. They may imitate or even simulate, but they do not understand what they produce, for they lack the affective, relational, and spiritual perspective through which human beings grow in wisdom. #MagnificaHumanitas

[Pope Leo XIV @Pontifex]

The apparent objectivity of the responses these systems provide can lead us to overlook the fact that they reflect the cultural assumptions of those who designed and trained them.

[Pope Leo XIV @Pontifex]

Today, among the goods that are universally intended for everyone, we must also include new forms of property, such as patents, algorithms, digital platforms, technological infrastructure and data. In a context where the wealth of nations depends increasingly on knowledge and technology, when these goods remain concentrated in the hands of a few, without adequate forms of sharing and access, a new imbalance is created that contradicts the universal destination of goods. In turn, it widens the gap between the included and the excluded, between those who can participate in the digital revolution and those who remain on the margins. #MagnificaHumanitas

[Seema Jilani @SeemaJilani]

The fact that Dems have not leveraged @ossoff’s looks and spun him into an easy on the eyes candidate with btw fantastic ideas, shows just how bad Dems are at PR. He is giving hot Atticus Finch here. This could be an ad in Vogue for glasses and I’d buy the glasses. 🔥

[Gowri Gurumurthy @gowrinyc]

What is crack spread? You will find out more here👇

[Phil Mattingly @Phil_Mattingly]

A couple of weeks ago I decided to lock myself in my office til I fully understood the scale/drivers of a remarkable global energy triage effort - and its rapidly shrinking viability - as the Strait of Hormuz remains effectively closed.

With flights canceled in Europe, cold meals in India, rationing in the Philippines and steadily rising gas prices here, here's what I found.

Featuring my remarkably helpful & patient market sherpas @gbrew24 @CroftHelima & @Rory_Johnston

[Ronit Pereira @CAronitpereira]

Charlie Munger explains Private Equity and Investment Bankers with an example of a dumb Horse 😂

“Man goes to a Vet complaining about his horse who gets vicious sometimes. The Vet replies: The next time horse behaves well…sell it.”

“That’s how private equity works.”

[Joe Weisenthal @TheStalwart]

AI produces bad prose, but by itself, that's not fatal. Some badly written things may be worth reading.

But we know AI is much better at bullshitting than humans. So once I clock that text is AI, I'll just stop reading cause I assign a higher % that I'm reading nonsense.

[Emilie Friedlander @AdHocEmilie]

Was reminded today of this, from the New York Times editorial board

[Boots Riley @BootsRiley]

I always like to look at Woody Guthrie's New Year's Resolutions from 1942.

Pretty similar to what mine are each year.

[Barry Ritholtz @Ritholtz]

Weekend long reads preview:

The Era Of The Business Idiot: We live in the era of the symbolic executive, when "being good at stuff" matters far less than the appearance of doing stuff...

https://t.co/iATOqfrQmC

[Gowri Gurumurthy @gowrinyc]

@oren_cass I would love to listen to the full recording of the debate. This is spectacular.

[Sam Haselby @samhaselby]

Klein here offers zero vision of democracy or better lives for Americans. He speaks about "beating back Tr*mpism" and offers a muddle of nostalgia and abstraction that it is good to be "liberal" and bad to be "illiberal". He's a great interviewer, but this is shallow stuff.

[David Wenger @Wwwinggman]

In “Gaming Wall Street,” insiders reveal corruption of stock market : The Komisar Scoop https://t.co/JqdgldouVN

[Peter Mallouk @PeterMallouk]

Charlie Munger understood the real payoff of wealth isn’t luxury - it’s freedom.
Freedom to say no.
Freedom to walk away.
Freedom to live life on your own terms.

[Rebecca Katz @RebeccaKKatz]

Sometimes it feels like Bernie is one of the few of his generation to understand lifting up future leaders is good, actually.

[Spencer Hakimian @SpencerHakimian]

Scott Bessent: The economic data is weak and the Fed needs to cut rates ASAP.

Kevin Hassett: The economic data is fake, and the actual economy is very strong.

They can’t get their lies straight.