Fantastic wrap-up of a transformative year. The capex jump from $288B to over $400B for hyperscalers really underscores how the financial infrastructure is bending around AI demand in ways we've never seen before. I've been tracking similar patterns in how private credit markets are becomingthe de facto funding mechanism for these bets, and it's wild to see traditional banking sitting on the sidelines. The retail investor piece is interesting too cause it seems like Robinhood and prediction markets are basically financializing sentiment itsself, which could get messy fast.
Happy New Year, Marc!
And to you Gary. Congrats on the Warner Bros. investment.
Happy Christmas, Mark. Was great to meet you this year.
You too 🐿️
Thanks for all the hard work and making us all smarter, Marc
Same to you Phil. Enjoy the break
Fantastic wrap-up of a transformative year. The capex jump from $288B to over $400B for hyperscalers really underscores how the financial infrastructure is bending around AI demand in ways we've never seen before. I've been tracking similar patterns in how private credit markets are becomingthe de facto funding mechanism for these bets, and it's wild to see traditional banking sitting on the sidelines. The retail investor piece is interesting too cause it seems like Robinhood and prediction markets are basically financializing sentiment itsself, which could get messy fast.
Thank you. Loved your piece on Sam Altman.
A belated merry xmas and early happy new year, Marc! 💚 🥃
Same to you!