All of these supposed future sources of oil demand are drying up rather quickly (six month pay back means growth will go bonkers)

I remember in around 1999 John Chambers saying Cisco could grow its top line 30% to 50% indefinitely (and it grew in the mid single digits over the following decade).

Can’t get enough articles on Pakistan’s mind-blowing solar boom. Squint and you can imagine these factors helping to increase future US demand as well.

The visible hand of the US markets www.reuters.com/business/hea...

So Fermi, the company building Project Matador: The President Donald J. Trump Advanced Energy and Intelligence Campus now valued at $15bn+. It "plans" to build up to 11GW of power, which is five Hoover Dams worth of natty, solar, nuclear and SMNR. I'll take the under.

Lots more oil firm layoffs. With US production in decline this trend will keep going. Obvious thing would be to encourage old wells to be capped (huge methane producers) instead of subsidizing stripping but that’s not going to happen anytime soon. www.reuters.com/business/ene...

A squirrel with brain damage and a deer with a broken leg live in/around my yard. It’s like a special Attenborough episode. Even the dog is freaked out by the squirrel’s manic but off behavior

LOL- if any bio founder says this short their company to zero. They don’t have a good grasp of genetics, where gene editing is, commercializing new tech, regulations, what happened in past attempts at editing kids genes, and timelines in biotech, among other things.

Yeah, that’s not how copyright works. Good luck with your legal liabilities. www.wsj.com/tech/ai/open...

I used to think the Butlerian Jihad was just a plot device. jasmi.news/p/dictionary

It’s good to be a MAMIL (middle-aged male in Lycra)

The whole post is lamenting that "we are not extrapolating straight lines on a graph enough!" Buddy, this is the most significant private capex boom in human history, and market concentration has never been higher -- *everyone* in the market is extrapolating

True, the capex bubble is likely to burst within 18-36 months, leading to job losses.

Capital allocation sayings. When they pass the hors-d’oeuvres grab two because who knows when they will be back = yes When the music is playing you have to get up and dance = no

Quite the stat from Edward Chancellor: companies valued at more than 10 times their revenues account for 35% of the market capitalisation of the S&P 500 Index.

In the Post (& elsewhere), Energy Secretary Wright continues to get basic facts wrong. He claims “We’ve been talking about ‘electrify everything’ for a while. Today, 15 percent of energy in manufacturing comes from electricity, same as it was 25 years ago.” False. Here's the real global data.

What’s interesting in the Dallas Fed survey is yeah the comments are astoundingly grim but especially how many are attributing weakness to policy and other factors, rather than the fact shale is past its peak because of depletion and rising costs.

Things I learned: Rick Perry co-founded a data center that's targeting a $13bn mkt cap in its IPO. Also, Perry has become an evangelist for psychedelic drug ibrogaine after trying it at a Mexican clinic calling it his "lfe's mission"

UniQure slowed Huntington’s Disease to a crawl with gene therapy. Simply amazing clinical results - not only huge differences in patients but good biomarker evidence of slower neurodegeneration. www.uniqure.com/investors-me...

So Cantor bought a 5% stake in Tether for $600m last year, which meant a $12bn valuation. OK.

One of the first frauds I came across in my career was the Italian dairy firm Parmalat. They had a a ton of cash and yet kept issuing debt. They also had a financial structure called Bucco Nero, or black hole. You can probably guess the rest.

LOL, the end is near: www.bloomberg.com/news/article...

Interesting from Enverus - marginal cost of U.S. oil supply projected to rise from $70/bbl today to $95 by the mid-2030s thanks to depletion of quality acreage. If so, this is going to have very big effects on the US, and will aggravate the harm from any attempts to slow the energy transition.

I see he’s not familiar with the world of model train builders.

It's not too much liquid It's not too many different things at too big a number It's not the size of this thing It's not 80 different vaccines None of this is true, but they will go after MMR based on this. The consequences are going to be massive measles outbreaks. Dead kids.

The government knowingly putting false information in the label of a drug is crossing a Rubicon that should not be taken lightly

Im pretty sure Disney cancellations would be much higher if parents of young kids had the energy and if they could actually figure out how to cancel their sub.

Why every Sankey diagram you've ever seen is wrong. open.substack.com/pub/mliebrei...

This framing totally ignores the human experience embedded in industrial techniques - what the tech analyst Dan Wang calls “process knowledge”. Here‘s how he explained it to me recently: podcasts.apple.com/gb/podcast/t...

Interesting/alarming anecdote - Mrs C is a psychologist and she said one of the first things she now asks new patients is, "what is your relationship to AI". She said it has become a problem for quite a few people, fast.

Like clockwork, you knew this was coming: www.wsj.com/articles/sto...

Taken from the NYT article re: today’s ACIP vote on the combo MMRV vaccine. This would truly be comical if it weren’t real life.

They might as well advise children should not receive vaccines on days with an R in them because there is an imbalance of humors on those days. www.reuters.com/business/hea...

This is such a good article on the history of tech investing and where AI fits in - author argues it’s most like shipping containerization (uh oh). joincolossus.com/article/ai-w...

generally speaking, and with the glaring exception of november 2024, the more directly democratic an institution has been, the better it has checked Trump (eg grand and petit juries); the more elite and insular, the less effective (the Senate, the Supreme Court, big business)

Powell saying "We have a situation where we have two sided risk and that means there's no risk free path, and so it's quite a different difficult situation for policy makers." and then seeing both stocks fall and treasury yields rise is pretty apt.

If you want to see what a best-in-class climate scientist with a lens on geopolitics and energy can do in the financial sector - read Sarah Kapnick's new report on energy system politics for JP Morgan. A few of my favorite figures below 🧵1/ www.jpmorgan.com/content/dam/...

Lol. Lmao even.

This was obvious once opioid ODs started declining. In about 15 years kids will realize they don’t want to hang out with agitated guys needing another rail and it reverts. www.wsj.com/world/americ...

Immediately had that trust in law enforcement rewarded by having their life leaked to the daily mail

The best reporting often fits nobody’s narrative. www.kenklippenstein.com/p/exclusive-...

AI quality as an incentives problem.

“.. Oil and gas job losses are now increasing at an accelerating rate .. “.. Seventeen percent of cumulative job losses since 2023 occurred in August 2025, and headcount cuts are now spreading into the E&P firms." (via Kevin Gordon)

The related party transactions at Nvidia are getting pretty interesting: obligated to buy excess capacity at Coreweave, which rents out Nvidia GPUs, before 2032. Similar deal signed with Lambda earlier this year www.sec.gov/Archives/edg...

Big day in C household. Son who wants to be botanist grew some seeds he found on the ground in Hawaii. Turns out this is a critically endangered Pritchardia viscose - he’s excited to donate it to increase genetic diversity for breeding.

End most IRA subsidies and jail workers building a Korean plant and manufacturing investment definitely will keep going down. This isn’t complex.

Props to the editor. This is how you write a headline.

‘about two-thirds of emerging markets now have a larger share of solar power in their grids than the roughly 9% in the US’ ‘The US is increasingly resembling a steampunk relic still dependent on 19th century furnace-and-turbine technology to fuel its dreams of artificial intelligence.’