The Federal government shut down this week. Democrat and Republican donors cheered. Politicians threatened the end of the world in front of microphones. The market shrugged. DKI has spent years expressing concern about the lack of pharmaceutical production capacity in the US combined with our large prescription drug use. President Trump uses tariff threats to … Read more
Last week, Enrique Abeyta warned that OpenAI reminds him of Enron from the dot com boom/bust. This week, Nvidia announced a $100B “investment” into OpenAI which will then be used to buy Nvidia chips. This is the exact kind of accounting shenanigans that Enrique warned about. He’ll be guest hosting the video version of The … Read more
We’re nearing another Shutdown Theater event where people pretend the government “shutting down” will result in disaster and both “sides” engaging in brinkmanship gaming. Prediction markets indicate that it’s likely we get a shutdown at midnight tonight. The stock market has shrugged and indicated it doesn’t care. Fiat economists are threatening that each day the … Read more
Last year, there was a lot of reasonable speculation that Cisco $CSCO from a quarter-century ago was analogous to Nvidia $NVDA now. The thinking was that Cisco was selling the hardware that new internet companies needed. (That was analogous to selling the picks and shovels to gold miners more than 100 years earlier.) When the … Read more
