Tom White

Catholic | Thinking, Writing, Investing | AMDG | Galatians 6:7

[Tom White @twhite]

LinkedIn must be destroyed

[Slow Ventures @slow]

Taking $10M when you need $2M doesn't fund your success. It funds your inability to admit you were wrong for 5 extra years.

@wquist

[Tom White @twhite]

AIngst everywhere I look

[Tom White @twhite]

@JoshuaSteinman Glenair comes to mind

[Tom White @twhite]

@SiliconSalvage $AXON

[Alfred Lin @Alfred_Lin]

Fifteen years ago, the most valuable companies in the world were worth $300b to $400b . Today, several are worth $4t to $5t . The distance between planting a seed of an idea and building something truly legendary has grown by more than 10x. There is no reason to think the trajectory will slow.

Meanwhile, the average human lifespan has barely moved. We have roughly the same number of moments, chapters, and pages as our predecessors did. To build something legendary, we now have to cover more than 10x the distance in that same fixed time, and in the next 15 years, we might have to cover an additional 10x the distance.

If the game has gotten harder, the question is not how to work more hours. The question is which moments, chapters, and books are worth writing at all. Every choice to work on one thing is a choice not to work on something else. The opportunity cost of our attention has never been higher.

[Tom White @twhite]

New White Noise: Our Economic Black Hole

[Tom White @twhite]

@inferredbylisa CC @arkady_kulik

[Tom White @twhite]

@EndicottInvests We are

[just business @OneWordPowerful]

Good art challenges its viewers.

[Boring_Business @BoringBiz_]

I don’t think we have ever seen a capital race of this scale before. We have multiple trillion dollar companies spending like the world will end tomorrow if they don’t win this race

They don’t even know what the ROI might look like. They have no idea whether this is even a winner take all market, or not. They just know that they must spend. There is no alternative but to spend

They will obliterate every last dollar of free cash flow. They will take on whatever amount of debt is needed. They will stop every last cent of stock buybacks and dilute their shareholders to oblivion

It is all hands on deck to see who can build super intelligence the fastest. Cost discipline will get thrown out of the question. The amount of dollars that will flow around the economy just from these companies alone are mind boggling

In the process, many new trillion dollar companies are being created. Many new millionaires minted. Many fortunes being exchanged

Truly amazing to watch

[Jukan @COMPUTEX @jukan05]

MediaTek at Goldman Sachs Taiwan Day:

“The next-generation program is adopting only EMIB-T, with tape-out targeted for 4Q26 and mass production by 4Q27.”

This is significantly different from what Taiwanese media had reported — that the next-generation program would use both CoWoS and EMIB-T in parallel.

$INTC

[Sergey Alexashenko @SAlexashenko]

Google equity raises

[Become A Saint @BeSaintly]

“It was pride that changed angels into devils; it is humility that makes men as angels”

—St. Augustine

[Za @ZaStocks]

Google’s offering is basically their way of telling everyone that AI demand and ROI are so extreme that they need to tap every possible source of capital.

[Tom White @twhite]

@Jack_Raines This^

[Tom White @twhite]

Next up:

[Tom White @twhite]

Robert Frost, on LinkedIn:

[High Yield Harry @HighyieldHarry]

You’re bearish? Google is randomly raising $80B and you’re bearish?

[Asymmetric Bets @UncleAlpha007]

Agree with Eric Schmidt (AI is underhyped). People think funding is suddenly going to dry up. It's not. The ROI is strong. Anthropic seeing 80% gross margins AND @SemiAnalysis_ @dylan522p putting out research showing people are seeing 10x type ROI, which means Anthropic could be charging even more for tokens.

$goog

[Tom White @twhite]

@JoshTradeOption $NBIS