Will

[Cullen Roche @cullenroche]

Why the Agentic Bank Run won't happen:

"Claude, link to my bank and brokerage account and optimize for the highest yield"

...

"Claude, did you move all my money to a high yield savings account in Nigeria offering FDIC insured 15%?!?!"

"Sorry Cullen, I hallucinated and made that transfer without checking the validity of the account. Would you like to me to ask them to return the funds?"

[Cullen Roche @cullenroche]

Common response to this is: "Sure, $489 trillion in assets is a lot, but it can't be monetized because it's mostly stocks and real estate".

Guys, real estate is the most collateralized asset in the world. And stocks are bought and sold every day. Financing $40 trillion of govt debt is not a problem in the wealthiest society that ever existed.

Save your "sovereign debt crisis" narrative for European nations or pretty much any other country in the world. It ain't happening in the USA any time soon.

[Beth Kindig @Beth_Kindig]

Google is investing $15 billion to build a new data center in Missouri, noting that it has already contracted more than 1GW of new generation capacity.

$GOOG $MSFT $AMZN

[Rob Henderson @robkhenderson]

I'm starting to think this luxury beliefs idea is catching on: https://t.co/V5xihItb3q

[Brad Gerstner @altcap]

AI is deeply unpopular. According to Pew, sadly only 17% of Americans think AI will have a positive impact. In China, 83% believe AI will be positive. A token tax & political backlash is coming unless the narrative changes. 🇺🇸👀🧐

[Ben Thompson @benthompson]

I think this was a good one and much more
Expansive than my Article. So many angles it’s hard to write about

[The Compound @TheCompoundNews]

Does a 50 Year Mortgage Make Sense?

@awealthofcs @duncanhillphoto
⏯️https://t.co/qBYQqGg3WG

[Reed Hastings @reedhastings]

I've worked on H1-B politics for 30 years. Trump's $100k per year tax is a great solution. It will mean H1-B is used just for very high value jobs, which will mean no lottery needed, and more certainty for those jobs.

[Oren Cass @oren_cass]

For those who follow PMI surveys: "The S&P Global US Mfg PMI rose from 49.8 in July to 53.3 in Aug, according to the flash reading, signaling a renewed improvement of factory business conditions after a brief deterioration in July. Aug’s reading was the highest since May 2022."

[Will @illwill_711]

@oren_cass

https://t.co/igJXfXW8yw

[Stephen Miran @SteveMiran]

A lot of people really want to read their preferred political narrative into the inflation data, but they remain stubbornly unaffected by tariffs. The same goods categories that had a modest bounce in June in the US also bounced across North America and the UK. Not tariff driven.

[Will @illwill_711]

@Beth_Kindig Are these assumptions being compiled from survey data?

[Beth Kindig @Beth_Kindig]

Some differing viewpoints on agentic AI:

Gartner predicts that more than 40% of agentic AI projects will be cancelled by the end of 2027 on unclear ROI and rising costs, while BofA estimates agentic AI spending could reach $155B by 2030, 3x higher than most industry estimates.

$MSFT $CRM $NOW $AMZN

[Jamin Ball @jaminball]

Congrats to @figma, a design and product development platform, on their S-1 filing!

- $821M LTM Revenue (+49%)
- 46% YoY growth last Q
- 89% gross margin
- 3% Op Margin**
- 6% FCF Margin
- 132% net retention
- 20 months GM adj CAC Payback

Full article recap below 👇

[Will @illwill_711]

@oren_cass

https://t.co/kRR6AzKiUH

[Will @illwill_711]

@friedberg
https://t.co/kRR6AzKQKf

[Mario Gabriele @mariogabriele]

The amount of computing power per dollar has doubled every two years in the ML era, while efficiency (watts per flop) has doubled every three years.

@crmiller1 offers a sobering look at the energy demands of the AI revolution in our latest conversation.

Listen to the full episode:
• YouTube: https://t.co/assO1QP1ft
• Spotify: https://t.co/uMckqAaKPD
• Apple: https://t.co/BJPmdThvKL

[Will @illwill_711]

@BG2Pod @altcap @bgurley Great episode! You guys should invite @oren_cass on the pod. He offers a great counter argument to unfathered free trade.

[Jamin Ball @jaminball]

👀👀
https://t.co/HBGkzrx9rF

[Will @illwill_711]

@Beth_Kindig I would imagine that this is really great news. Do you believe that tax incentives from the US government could offset that 10% and make semiconductors manufacturing profitable within the US market?