In order to be worthwhile for investors, AI companies need to simultaneously: - increase demand 100,000x - increase capacity to support that usage - make a profit instead of a loss on each token Which, well, lol.

i believe this is related to the rise in people who are utterly incurious about anything not directly beneficial to themselves

Some personal news

Metaphors this literal feel lazy idk

Really hard to look at this and all the other examples of bravery and kindness from ordinary people in this moment not think also of the tremendous cowardice exhibited over the past year by some of the richest, most well-protected people in business, media and politics

Wanna know something? Right before migrants get loaded onto an ICE removal flight, they return their gray jumpsuit and get deported in whatever they were wearing when captured. Have heard from many migrants that the planes are freezing and some shackled people are in summer tank tops and flip flops.

So they’re arresting members of the press now for covering the very events they instigated. And of course to prevent more coverage. Saw a sign a while back that borrowed from the Martin Niemöller poem: “First they came for the press. We don’t know what happened after that.”

This is quite a post www.planetearthandbeyond.co/p/reality-is...

New: “This is the modern Fugitive Slave Act,” said a judge when describing ICE behavior nationwide.

It’s quite likely that being called a “fucking bitch” is one of the last things a dying Renee Good ever heard. I demand leaders who are as filled with pure, diamond-hard rage over this as I am. I believe this is absolutely not asking for too much.

ICE AGENT: “I love my job. I can’t believe they pay me to do this. I’d do it for free. I only went to high school and I make $200,000.”

/2 Anyway, America was never about everyone loving liberty; America was always about enough people loving liberty and being willing to defend it to keep down the people with totalitarian souls.

As crypto and private credit hit the mainstream, investor risk seen multiplying reut.rs/4pVTavk

Thinking today about this sentence: "Every $100 increase in median rent is associated with a 9 percent increase in the estimated homelessness rate, according to a 2020 report by the U.S. Government Accountability Office."

It was such a joy to celebrate Hanukkah with Mandy, Kathryn and their son, Gideon. As Jewish New Yorkers across our city prepare to light candles and mark the seventh night today, I wish you and your families a Hanukkah full of light and love. youtu.be/KIxAKyioXng

I've been blown away by the generosity shown to my book this year, and wanted to take a moment to highlight some of the books that meant the most to me in 2025—along with a few I'm especially excited to see out in the world in the new year. THREAD

lol but like historically, if you want rights you have to fight for them. There is no silver bullet and there is no messiah.

It’s not just NYC that loves free buses: two Maryland counties and the city of Baltimore already have them, and offer a great model for @zohrankmamdani.bsky.social and all lovers of free public transit! truthout.org/articles/fre...

evergreen

They’re busy podcasting, unfortunately

Jared Bernstein and Aya Ibrahim are LIVE for Let’s Do Lunch! They’re breaking down how inflation affects you + answering your burning econ questions Tune in: https://open.substack.com/live-stream/79918

Jared Bernstein is LIVE tomorrow at 12:00pm ET for another episode of Let’s Do Lunch with special guest Aya Ibrahim! Got questions about Trump’s tariff failures or whether we’re heading toward a recession? Drop them below.

“Stablecoins may dazzle as the latest financial fad. But they risk destabilising finance while enriching a few.” In a guest essay, an economics professor outlines the drawbacks of these digital tokens

“We took an oath to defend the constitution. These are the moments we took that oath for.” Incredible bravery by Paul Osadebe & many others at HUD fighting to keep discrimination out of housing against an admin hellbent on ignoring it. www.nytimes.com/2025/09/22/r...

That's right. What's more alarming is ~97% of the current highway storm drains in the United States were designed using rainfall information that was published in *1961* using 1930s-1950s data. We're using infrastructure built for the rainfall of nearly a century ago. engrxiv.org/preprint/vie....

In 2021, I warned that “family offices”—investment firms that manage the $ of tech titans & other billionaires—have more assets combined ($6TN) than all of private equity ($4TN). Unlike PE, the public has NO insight into where they put that money. Zero. www.nytimes.com/2021/05/18/o...

The gag is, I don’t think Harry Reid would support this. www.nytimes.com/2025/09/17/u...

In 43 states, the highest-paid public employee is a college coach. Yet the athletes propping up the $19bn college-sports industry earned no salary--until this year. My piece on the upending of one of America's strangest economic systems www.economist.com/united-state...

That’s my friend 🗣️🗣️ yes @ayyuhhh.bsky.social !!!

President Trump has attempted to exert control over the Federal Reserve, an entity that is supposed to be independent. “The president would like control of the money spigot,” says Aya Ibrahim, former senior policy advisor at the White House National Economic Council.

I don't care how deep into the deep state you get, there is nobody randomly looking at mortgage applications on performing mortgages. Anyone doing this would have to be asked to do it. And hopefully we will find out how and when they were asked.

Dollar struggles to recover from Powell's dovish surprise reut.rs/3HNdFJC

Hot U.S. inflation data rattles global bond markets reut.rs/3Hc13f5

“Trust is very hard to earn and it is very easily lost… once you have injected doubts into the way that we collect and analyze information about the state of our economy, it’s a very difficult genie to put back in the bottle.” Watch Economist Aya Ibrahim in conversation with Jen Rubin:

Since Trump fired Labor Statistics Commissioner Erika McEntarfer, can we still trust the data on our economy? Economists Jared Bernstein and Ryan Cummings will answer your pressing questions in a new ‘Let’s Do Lunch’ tomorrow at 12pm ET. Comment yours below & watch LIVE on Substack!

The impact of President Donald Trump’s tariffs on consumer prices is just getting started, according to research by Goldman Sachs

BBC International Editor Jeremy Bowen has confirmed that the entire Al Jazeera team in Gaza City has been killed.

Because I am angry I will share this again. One of the reasons that Israel is able to target individuals so precisely is that it collects every phone call in Gaza and stores the recordings in Microsoft Azure, then uses AI to analyze and pick targets.

Crucial new research from CBO showing that inflation from 1979-2020 hit poor households harder & rich households less hard. Graph shows cumulative growth in real income. When you account for differential inflation it cuts ~1/3 of the real income gains for the poorest. Only ~23% growth in 41 years.

AI isn't magic. AI is land, real estate, and energy.

There is a big difference between price and cost. Aya Ibrahim reflects on the good, the bad, and the ugly of AI and the economy.

Got to chat tech and trade with one of my favorite people @jaredb-econ.bsky.social

Emil Bove's confirmation was only possible because Democrats caved to a vile right-wing smear campaign of Adeel Mangi, who would have been the first Muslim appeals court judge, when Biden nominated him for the same seat last year. Absolutely disgraceful. Bove's confirmation is on them, too.

“It’s the largest redistribution from poor to rich in a single bill in American history.” It's a play in three regressive parts: 1. Tax cuts for the rich. 2. Spending cuts on the poor. 3. Tariffs that hit low-income folks hardest.

Some people get into journalism because they’re skeptical of power, and others do so because they’re impressed by it. Moments like this are clarifying with respect to who’s who.

As long as hawkishness remains bipartisan, there will never be consequences.

@alexisgoldstein.bsky.social said I have to be on here more, so here we go