Jaffar Hussain

Trying to live the balanced life. Building futuristic SaaS products @venturenox. Also building @testfusehq and crewnetics.

[John Intel @intelfabs]

Very interesting and scary report from Morgan Stanley

The financial engineering behind hyperscaler capex
The truly unsettling part of the AI boom isn’t how much money is being spent
It’s how that money is being engineered through accounting

Hidden liabilities (> $1.8T)
Huge obligations sit off‑balance‑sheet: nearly $1T in purchase commitments, $800B+ in leases not yet started, $2T+ in RPO.
Future cash outflows that don’t show up as debt.

The coming depreciation hit
Profits look good only because spending is stuck in CIP.
Big Tech faces $520B+ in depreciation over 3 years.
ORCL’s depreciation ratio: 7% → 28%.

Supplier financing pressure
Unpaid capex is ~$110B.
ORCL’s DPO exploded from 35 → 170 days.
The whole supply chain is effectively financing the AI build‑out.

Lease accounting gray zones
Whether GPU contracts count as leases or services is subjective — and companies use that flexibility to shift billions on/off the balance sheet.

$ORCL = the most aggressive
Largest lease commitments, RPO up 300%+, capex‑to‑sales hitting 189%.
Oracle is running the highest financial leverage in the ecosystem.

[Jaffar Hussain @stingerpk]

@worqas Pragmatically, you are completely correct. Iran, however, is not a very pragmatic country. They take this right as a symbol of sovereignty.

[Jaffar Hussain @stingerpk]

@SarbazRezvi @AGDugin As a Pakistani Shia who doesn’t support the current administration in the country, I believe Pakistan is just the right place for these talks. Pakistan is not a direct party to the conflict and happens to be in a position where it has good relations with all the relavent powers.

[Jaffar Hussain @stingerpk]

@Kabogo_Henry Sovereign data center and communications

[Jaffar Hussain @stingerpk]

That’s Uncle Latif!!! Our gardener here in Lahore.

[Allah Islam Quran @AllahGreatQuran]

A caring son tries to feed his mother, but she keeps hitting him because she has Dementia. 💔

[Christopher Helali @ChrisHelali]

Did you know Iran was the first country to issue a stamp in honor of Malcolm X?

[Songs and Rifles of the Resistance 🇮🇪🏴🇵🇸🔻🕊 @ResistanceJenin]

Ayatollah Khamenei was a staunch supporter and comrade of Irish Republicanism.

In solidarity with the Irish struggle, he gave $30 million to the PIRA, supported Irish POWs, sent Iranian officials to hunger-strikers’ funerals, and named a street in Tehran after Bobby Sands.

[Rakhi Tripathi @rakhitripathi]

If this were a film, we would have wept in the theatre. But now… we scroll down. 💔💔💔
We’ve lost our humanity.

[Jaffar Hussain @stingerpk]

@filmfae This right there is the sentiment our entire generation grew on.

[Jaffar Hussain @stingerpk]

@StefanMolyneux I think the people who do have internal chatter are just trying to find a point where the chatter stops and everything becomes calm and quiet.

[Jaffar Hussain @stingerpk]

The premise of defense, in my opinion, is to protect a lifestyle worth preserving. If what you are fighting for is not worthy enough, you are only accumulating power, not being virtuous.

[Jaffar Hussain @stingerpk]

@charliekirk11 Native population… who? The white people from across the ocean?

[Jaffar Hussain @stingerpk]

@bellausa17 @IanJaeger29 So that you can learn that it’s not true.

[Jaffar Hussain @stingerpk]

Did the Nazi Germany had a right to defend itself or even exist? Do genocidal ideologies or groups have a right to exist or defend themselves?

[Jaffar Hussain @stingerpk]

@ryangrim He’s talking about Israel since only they got those billions of dollars for genocide.

[Jaffar Hussain @stingerpk]

Modi is playing a game of “nuclear bluff”. Say you want to de-escalate but actually escalate a bit every day, test Pakistan’s resolve towards a serious escalation and use any reluctance to make strategic gains. Only a mad man would play such dangerous games.

[Moeed Pirzada @MoeedNj]

India wants to deescalate ? Just watched Indian Govt/Army Briefing with Foreign Secretary Vikram Misri. He denied all Pakistani claims of damage to air bases, power infrastructure etc. Pakistani claims may have been exaggerated; but the problem with the Indian briefing was that in 2025 they showed 1950 style photos of their bases & air strips to claim that all is well. Then getting a bit guilty conscious Vyomika Singh added, that these photos are “Time Stamped” - but who is going to check that these are time stamped?
When briefing after briefing ends without taking any questions. I also watched PAF/ISPR Briefing a day earlier; it was a class apart! And its professionalism was noted across the world.
Vikram Misri, like every good Indian, asserted that India is a democracy; but what kind of democracy is this that has just ordered Twitter to block 8,000 accounts including those of International Media & prominent opinion makers from all over the world? Blocked “Force Magazine” and The Wire and apparently even BBC Urdu? Not to forget dozens and dozens of Pakistani Channels. There is something seriously wrong with this “BJP shaped India” leading to regression of minds! India was never that insecure of its position! Why block all criticism when you are not afraid?
Most Indians don’t realize that this totally unnecessary war is making them look bad and irrational!
Ms. Singh, & Mr. Misri kept repeating that Pakistani attacks are causing civilian casualties; but who do they think are dying or maimed at the other end? How many of the 33 men, women & children Indian missile strikes killed & 53 injured (on 7th May) were combatants? How many dying on the other side of LOC are soldiers?
Ms. Singh, again reiterated that Indian Army will deescalate if Pakistan army does so. But the word “deescalate” is continuously being used since the missile attacks before every new act of escalation. After attacking 24 sites, in 9 cities across Pakistan & AJK, on 7th May, there was no Casus Belli left for India. But soon we found Pakistani cities swarming with Indian drones - which were actually used to detect gaps in Pakistan’s Air/Ground Defense, and thus represented a preparation for the next attack on Air Bases. Now in this latest briefing, Ms. Singh mentions that Pakistani forces are moving to forward positions; I don’t know if they are - but it sounds like India now preparing ground to move war to the next level while continuously using the word “deescalate”
I hope I am wrong! But I smell a script, that is unfolding step by step towards a long protracted war! Late Riaz Khokar, Ex-Foreign Secretary, had warned me in 2019, that 2025 will be the year of war - I thought he was a cynic! But may be he was right!

[Jaffar Hussain @stingerpk]

There is a word: Genocide.

Human rights ideas built over millennia are undone. The eternal struggle between elitists and masses stands bare. Israel is part of the global elitist establishment which is habitual of murder with impunity.

[UNRWA @UNRWA]

There are no words.

[Jaffar Hussain @stingerpk]

@Matiullahjan919 "اپنا صوبہ پنجاب"????

Punjab doesn't belong to PMLN. It belongs to PTI. Nawaz is an outsider.

[Jaffar Hussain @stingerpk]

@pmln_org Shhh!!! Imran Khan IS the state.