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The Real California Gold Rush Has Just Begun
Together with Good Morning, AI researchers have started smoking cigs because they expect AI to cure cancer anyway, McKinsey is requiring entry-level job seekers to debate with an AI, Leopold's hedge fund is getting clapped again, BofA hit a rough patch, Anthropic's Q3 revenue surged 50%, and Chinese gold diggers are flocking to SF to …
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Crypto Founder Busted
Hex founder Richard Heart detained in Istanbul
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Wall Street Tokenizes Bonds
BNY and Citadel test tokenized US Treasuries
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A Saudi Mole in San Franciso
Together with Good Morning, JPMorgan posted a rare earnings miss, the FBI arrested a Saudi mole in OpenAI, smaller PE firms are already bearing the brunt of higher rates, Blackstone's president sees European fiscal strains as worse than US, and BofA is racing to reassure staff after a senior banker exodus. Mosaic, the deal modeling …
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FTX Assets Power AI Boom
FTX’s old bitcoin-mining assets become part of AI boom
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Zuck Enters the Frontier
Together with Good Morning, Zuckerberg declared that Meta has officially caught up to Anthropic and OpenAI with its 'frontier' Muse Wonder model. At the same time, Korea's KOSPI index plunged 6% to hit July bear market lows as the AI trade suddenly faltered. How ironic… Planful published an extensive guide on how firms should optimize …
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Box Office Reckoning
Together with Good Morning, There's lots in the news to start the week as traders look to another earnings season but this time with the backdrop of soaring yields. There was also some interesting developments in the Russia-Ukraine war, a collapsed data center IPO, and an unusually busy IPO pipeline. On the culture side of …
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US Freezes $1B Iran Crypto
Treasury threatens to freeze $1B of Iran’s crypto
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ARR Without the R
Together with Good Morning, US banned Microsoft from sponsoring residency for foreign workers, NFL asked SCOTUS to let states regulate prediction markets, Goldman will pay top execs $500M in special bonuses, US will not attack Iran before the midterms, and techs stocks slumped following a report that OpenAI's ARR is $20B less than previously signaled. …
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Feds Move $1B Crypto
US government moves $1B in seized crypto
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Trump’s AI Crypto Vision
Eric Trump says AI will drive crypto growth
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Warren Buffett Is Just Like Us
Together with Good Morning, PE GPs are now demanding "super carry," quant funds are beating the S&P, Korean investors lost $1.7B from leveraged ETFs, US is probing Wells Fargo over efforts to boost Black homeownership, and Warren Buffett reportedly binge-watches late-night YouTube going down rabbit holes like O'zbekiston Got Talent. After receiving endless requests in …