Kyle T

Finance and markets with a high dose of sarcasm. Tweets are opposite of advice.

[Kyle T @kylet___]

The fact Musk took a $45bn black hole (Twitter) and merged it with his even bigger financial black hole (XAI), and then merged that with an even bigger black hole (SpaceX) is why Musk will never been topped as the greatest con man in history. Complete disgrace

[Hedgeye @Hedgeye]

Rule changes for the SpaceX $SPCX IPO:

Index providers waived the profitability requirement and cut the seasoning window from 90 days to 5.

This forces over $30 trillion in passive 401k and retirement money to buy SpaceX at IPO valuations.

Bloomberg Intelligence estimates S&P 500 funds must absorb 19% of SpaceX's float within 6 months.

Russell 1000 and Nasdaq 100 funds will absorb 24%.

The rules built to protect passive investors:

1. S&P 500 has required 12 months of trading and 4 quarters of GAAP profitability since 2002. Both waived.

2. Nasdaq cut its inclusion window from 90 trading days to 15.

3. FTSE Russell cut its to 5.

All three benchmarks are now structured to buy SpaceX at IPO pricing.

[Kyle T @kylet___]

Madness

[Maury Brown @BizballMaury]

There has been another death associated with the Isle of Mann TT. I think this video gives you an idea of how that can happen. I’ve seen darn near every form of racing, and nothing is as insane as this.

[Kyle T @kylet___]

lol

[Techmeme @Techmeme]

Sources: Amazon has shut down an internal leaderboard that tracked employees' use of AI tools after workers tried to boost their scores with needless tasks (@rafeuddin_ / Financial Times)

(Visit Techmeme dot com for the link and full context!)

[Kyle T @kylet___]

A lot of tech firms are/were posting team leaderboards of their individual/team token usage. If you were at the bottom, it suggested you weren't an effective employee to managers. Show me the incentive and I'll show you the outcome

[Ed Zitron @edzitron]

Uber’s COO has said that it’s getting “harder to justify” its AI costs because there was no way to show a link between AI spend and any meaningful increase in useful features. This is the first time I’ve seen a company say this directly.

https://t.co/xUhZvtpwah

[The Angel 🖤 @Angel_150913]

In Alberta news, some crazy fucker breaks a world record driving off our local waterfall. Shout out to Dusty Friesen and his boat named Dent.

[Kyle T @kylet___]

We’re progressing as a society: 0 DTE crypto betting

[Nick Grous @GrousARK]

Sports as a % of total trading volume on Kalshi has been consistently falling since the start of the 2025 NFL season.

Sports is now roughly 58% of the total volume. A large part of this is the rise of crypto-related markets.

Over time, as new categories emerge, I would argue this drops to teens and then maybe even single digits.

[Sai Kambampati @heysaik]

this is hilarious

[Kyle T @kylet___]

This describes the situation in Seattle to a T. It takes a 3 minute drive through town to see it’s not a housing issue

[Spencer Pratt @spencerpratt]

If that addict on your street were your own son, what would you do? That is the defining question that guides my 5 step plan to fix the homelessness problem in LA. We *must* end this evil racket of corrupt politicians and NGOs who profit off the misery of these poor souls. They launder money and feed them more drugs, so they can keep their customers locked in this hell on our streets. We have a moral obligation from God to help them and make our city safe and clean for everyone. Karen Bass and Nithya Raman have forsaken this city. Time for real leadership. Time for real compassion.

[Kyle T @kylet___]

This is true right now as the dispersion between models is still wide, but unless one solves AGI it seems they will all bunch up with diminishing returns. At which point compute capacity rules everything (Anthropic just partnered with guy who wished them death, because compute)

[Patrick OShaughnessy @patrick_oshag]

Interesting that in three of my recent conversations with Krishna at Anthropic, @dylan522p, and @GavinSBaker, each said that frontier tokens are capturing the majority of the economic value.

Gavin: "An overwhelming amount of the economic returns to AI at the model layer have been at the frontier. That's surprising to me, and I think it's been surprising to a lot of people. This is one of the most important questions to be answered, and you need to have a hypothesis on it as an investor."

Krishna: "We think the returns to frontier intelligence are extremely high. Customers invest really heavily in more tokens with the newer models. The ones at the frontier clearly are capturing this economic value, driving meaningful ROI for customers. The returns to frontier intelligence are not slowing down."

Dylan: "No one gives a crap about GPT-4 class models. They want the frontier because the frontier lets them create the economically valuable things."

[Kyle T @kylet___]

I know some bariatric surgeons who are closing shop after decades in business because of these GLP1 advancements nuking their business. Crazy times

[Max Marchione @maxmarchione]

Retatrutide phase 3 obesity trial just came out and the results are genuinely insane:

- 28.3% bodyweight lost on 12mg over 80 weeks
- 70.3 pounds on avg. or 31.9 kg
- 45.3% of patients hit 30%+ weight loss (this is bariatric surgery territory)
- 30.3% weight loss (85 lbs) at 104 weeks in higher-BMI patients
- 65.3% of 12mg patients dropped below the obesity BMI threshold
- 19% loss on 4mg over 80 weeks (47.2 lbs) with fewer dropouts than placebo (4.1% vs 4.9%)
- significant drops in blood pressure, triglycerides, non-HDL cholesterol, waist circumference, and hsCRP
- no cardiac or liver signals

Retatrutide is going to completely overshadow tirzepatide and semaglutide, and take the throne as the best-selling drug of all time.

[Kyle T @kylet___]

Absurd

[House of Lowlights @HouseLowlights]

Shai flopped on every single shot attempt.

[Kyle T @kylet___]

SpaceX paid $250bn for the XAI scam and all they got was a lousy neocloud with crappy frontier models in return... Essentially no scenario where that transaction doesn't go down as the most egregious corporate fraud case in history. Time to puke it all onto the braindead cult!

[Tom Brown @NotTomBrown]

We’re expanding our partnership with @SpaceX, and will be scaling up on GB200 capacity in Colossus 2 throughout June.

Appreciate @elonmusk and the team helping us find good homes for the Claudes.

[Kyle T @kylet___]

Lmao wait, so they both spent weeks of time and 8-figure legal bills only for the whole foundation of the case to be unjust?

[Breaking911 @Breaking911]

BREAKING: Jury unanimously finds OpenAI not liable in Elon Musk’s lawsuit alleging the company breached its charitable mission, ruling the claims were barred by the statute of limitations.

[Kyle T @kylet___]

Cool chart

[zerohedge @zerohedge]

Hyperscaler Free Cash Flow going negative for at least the next two years

[Kyle T @kylet___]

Apparently Jimmy John’s is selling ad space on their digital receipts now. Got offered a time share and credit card. Seems tacky

[Kyle T @kylet___]

The kids are not alright

[Grant Bailey @grantjbailey]

Huge collapse in drinking among high schoolers 👀

[Kyle T @kylet___]

@MarkTMeredith My dad whenever I tried getting these:

[Kyle T @kylet___]

Don't get high on your own supply

[Kyle T @kylet___]

Gotta give props. She coulda just hugged QQQ for the 75bps and lifetime wealth but is interested in giving it all back instead

[Kyle T @kylet___]

Its remarkable (and sad) how braindead our local leadership is. Seattle is very geographically restricted by water. There is no land to build out, you have to redevelop upward. So lets put that blame on the developers, the one group that can improve the situation for the city.

[Pramila Jayapal @PramilaJayapal]

Seattle has one of the worst housing crises in the country. I see it every time I’m home in my district.

People working full-time jobs who can’t afford rent. Teachers, nurses, and transit workers who can’t live in the city they serve. Families on housing assistance waiting lists that have been frozen for years.

This is a policy failure, not an inevitability.

We built this crisis by choosing developers over people. We can choose differently.

Housing is a human right. We fight for it like one.

[Kyle T @kylet___]

Well this is one way to spin the most egregious corporate fraud/self dealing transaction we've ever see in financial markets.

[Cathie Wood @CathieDWood]

Thanks to its deal with Anthropic, XAI, now SpaceXAI, is pivoting from massive losses at Colossus to significant profitability as a neocloud on an estimated $5-6+ billion in annual revenues. Brilliant SpaceX move, @elonmusk and @GwynethPaltrow !