AMZN, META, GOOG, MSFT combined capex is ~2.2% of GDP. Railroad investment averaged 2.4% for the Gilded Age and peaked between 6-10% depending on estimates. www.bloomberg.com/opinion/arti...

I think a follow up question would be in what business interactions, workflows or decisions can people not be removed by AI? 1. Physical Retail, 2. Health Care, 3. Companies that supply hardware and services bundled with software.

One I like that I haven’t seen written up anywhere is #$CMPR. Coming off a big surge in capex for unified software back-end across acquired brands, and physical capex to produce “elevated” custom products. Not just biz cards.

It really feels like growth that's completely untethered to AI (whether vulnerable to or benefitting from) should be valued at a premium today. With that said, I'm curious what you all think are your favorite growth cos that fit the bill? I will share a few later in the day.

Please enjoy this fascinating interview with Justin Fox revisiting The Myth of the Rational Market 15 years later. The book remains 1 of my single favorite investment books I have ever read! twiii.podbean.com/e/bloomberg-...

It's an AI podcast where we don't talk about whether AI is in a bubble! I loved recording this episode with @AskeladdenTX for how thoughtful Samir is and how much I learned on deploying AI in the investment process. Must listen material here: twiii.podbean.com/e/samir-pate...

Yeah you read that right, @pcordway was back on the pod and didn't miss a beat! We cover a range of developments in markets over the past year and try to put the weirdness and absurdities in context. Go listen and let us know what you think! twiii.podbean.com/e/phil-ordwa...

$TECH giving a real-time update on NIH-backed spend trends

Another incredible episode, this week doing a deep dive on the life science space with @Borlaug_! Jon helps demystify this fascinating industry for generalists and offers sharp insights for specialists alike. Go listen: twiii.podbean.com/e/jon-aka-bo...

We cover AI extensively on this podcast with @foolallthetime.bsky.social , but 1 piece of value we focus on that gets less attention nowadays is a deep dive on the severe recession in semis outside of AI twiii.podbean.com/e/special-do...

Incredible new episode w Doug O'Laughlin of @_fabknowledge_ and @SemiAnalysis_!! On how the semi industry is leading AI forward, an intriguing investment opp in the newest bottleneck for the industry & the deep recession in the non-AI semi world. twiii.podbean.com/e/special-do...

How far can this go?

Fintwit starter pack: @nosunkcosts.bsky.social‬ @keubiko.bsky.social‬ @librariancapital.bsky.social‬ @sparticuszorro.bsky.social‬ ‪@fritzell.bsky.social‬ @lewisenterprises.bsky.social‬ @ellliotb.bsky.social‬ @negativegw.bsky.social‬ @vincentfreeman.bsky.social‬ @colemanrhawkins.bsky.social‬

Very poetic that MSTR goes into the QQQs on the day SMCI gets kicked out.

Great to have Daniel Prather back on to talk about the Google antitrust cases. Daniel and I go back and forth on the pros and cons for Google and other key advertising solutions on the web: x.com/twiii_podcas...

Needed some burning material to get a fire going on this cold Saturday. Look what I dug up!!!

It's amazing how few realize the flu vaccine is just the dead virus. There's no voodoo magic. The way it works is rather boring, yet here we are amidst a maelstrom of misinformation...

It's interesting how my feed over there is filled with "Uber is dead" messages, but I can't even find one expression of that view in search here.

$DEO www.dailymail.co.uk/news/article...

I find this to be a hilarious chart on several dimesions and the analyst subsequently attempted to rationalize it

This definitely feels like a breath of fresh air compared to that other place. Nostalgia to the good ole days, though you know what they say about nostalgia.

"And at the same point in time, I think valuations have reset in a way that even with a large premium, you can get to very attractive returns." Marc Casper telling everyone what to do in lifesci.