Buffett stepping aside at Berkshire Hathaway creates a much larger existential question for the financial media than it does for the company's shareholders www.cnbc.com/2026/01/02/w...

People making $200k-$400k are identifying as middle class. And not in small numbers.

Tom Wolfe in 1998 explaining why, among other reasons, Time's 2025 Person of the Year feels so limp youtu.be/8tW9RNE0gyQ?...

Cutting AI sales quotas is not what this market wants to hear, but there are also people management issues that emerge if you're going to punish the salesforce behind your AI products that are a bit too raw for the enterprise www.theinformation.com/articles/mic...

Raising a lot of private capital at ever-increasing valuations brings on board cultural challenges with your team that are at odds with why you're able to raise that money in the first place. And then you have to do things like declare a "code red" three weeks before Christmas.

Bank of America published that 5000-year history of interest rates chart in their 2026 stock market outlook again. You don't need to post it.

interesting that real estate, ex-primary residence, only becomes a majority of the portfolio at the uber-rich level ($1B+)

calling my checking account a USD reserve now www.strategy.com/press/strate...

All the election run-up talk about how deficits might start mattering to markets was focused on the spreadsheet math, but there are some plumbing-related ways this could quickly go sideways.

Lotta green on the screen for a Nasdaq down 3% kind of day

Nice chart from @joshschafer.bsky.social in here. There’s the headline read that Mag7 earnings will converge with S&P 493 this year. Alternatively: Wall St still thinks Mag7 earnings growth will reaccelerate in the second half of the year. finance.yahoo.com/news/big-tec...

Labor data is generally still hanging in, but the vibes continue to deteriorate. "Despite reporting stronger incomes this month, concerns about unemployment rose; about 47% of consumers expect unemployment to rise in the year ahead, the highest since the pandemic recession." www.sca.isr.umich.edu

There is a drudgery in completing the tasks of a normal adult life an AI agent only adds to

Hotspot for AI content being sued for allegedly selling content to train AI models. finance.yahoo.com/news/microso...

"On the more negative side, funding these data centers with debt — as opposed to MSFT funding data centers with profits — is definitely a bubble indicator... it will be interesting to see who wants to be in the business of loaning against rapidly depreciating GPUs." stratechery.com/2025/stargat...

This is fun, from @ljkawa.bsky.social

There’s just not a lot about the Trump experience that makes me think he enjoys someone else telling their followers what he’s planning on doing.

The amount of information I can access at all times via a device in my pocket has been too much since 2009.

On the one hand, sure, skills are good. Gotta have em. On the other hand, the whole point of going to Harvard is that there's value in simply saying you went there! You cannot reverse this pitch after the fact! www.wsj.com/lifestyle/ca...

Jack Daniel's and Woodford Reserve-maker Brown-Forman laying off 12% of staff, closing Louisville-based barrel making factory. Millennials with beards and flannels have moved on. finance.yahoo.com/news/brown-f...

All post-election gains for US large caps are gone.

JPMorgan has internal webpages where employees can comment on new company policies

When I was younger, I would've scoffed at the notion a 50% drop in a stock reflected an efficient market. Now, I think the opposite. finance.yahoo.com/news/rigetti...

US labor market is in a really interesting place right now

Great outline of today's mega-concentrated stock market from @robinwigglesworth.bsky.social, with some stats that look dicey and other arguments that make the situation seem more copacetic. on.ft.com/3W8PYzk

Marc Rowan: "In the US, we have between $12tn and $13tn in 401k plans. What are they invested in? They are invested in daily liquid index funds, mostly the S&P 500, for 50 years. Why? We don’t know." on.ft.com/3DMzfMg

90s nostalgia is tough for peak millennials, because whereas other instances of "it was better back when" will be wrong in the usual ways, our elementary school years actually were that good. Or so they say.

Great quarter, guys!

STEM is so cool. Science is amazing. Kids should develop curiosity about how the universe works and proficiency in uncovering its secrets, so that they can most effectively optimize clickthrough rates on banner ads at the bottom of VC-funded website-apps.

This has shown up in plenty of pockets of the market already but still seems that “not 2017” is the biggest 2025 risk

Two more to make history

Things lower than they were at the Nov. 6 close: Value stocks, small caps, regional banks, industrials Things higher: Bitcoin (and all bitcoin-adjacent stocks), Mag 7 (espec Tesla, obv), private prison stocks Pretty clear what we’re pricing in and not pricing in wrt Trump.

People hate change

A nationwide obsession with STEM education resulting in teenagers flying drones for fun their parents think are spy planes sounds about right. www.nbcnews.com/politics/don...

Key challenge for Boeing — build airplanes

Great quote from Steve Cohen, via Nick Colas, in here — “math is not an edge”

The structural problems facing traditional broadcast/cable media distribution are well known, but there’s a massive executional mistake, too, that the broader “podcastiverse” is seizing on — legacy media leaders care about guests, but viewers/listeners care about hosts

converting to a family office, football edition

Apparently winning six Super Bowls doesn’t mean you’ve accomplished everything in football — to really see it through you need to take on Wake Forest on a Thursday night in front of 6,500 fans.

PE ownership of NFL teams officially arrived *NFL APPROVES BUFFALO BILLS 10% STAKE SALE TO ARCTOS PARTNERS *NFL APPROVES MIAMI DOLPHINS 10% STAKE SALE TO ARES MANAGEMENT

“As the President said on Sunday, and I’m in complete agreement with him, that Jay Powell will serve out his term,” Bessent told @cnbc.com www.cnbc.com/2024/12/10/f...

Once again Goodreads is ground zero for internet drama

via @robinwigglesworth.bsky.social: For stock pickers, there's always next year -- www.ft.com/content/34b1...

BREAKING: US President-Elect Donald Trump names David O. Sacks as the “White House A.I. & Crypto Czar.”

Really looking forward to the next episode of Talking Talk Tuah

Willem Dafoe speaking truth in this interview with @mattzollerseitz.bsky.social www.vulture.com/article/will...

"Consider: In August, representatives from Kamala Harris’s presidential campaign reached out. They had settled on their nominee for vice president and wanted Woj to break it." www.si.com/college-bask...

Spotify Wrapped is both the best and worst tech product that has ever existed. It is the end of software. It is the future of software.