@AsianHeaded@YahooFinance Valid question but his wealth is stock, not cash. Selling $40B of shares means taxes, a tanking price, and lost control.
Rich people don't spend their money. They rent other people's.
@YahooFinance When the man borrowing $40B for GPUs warns everyone else that the lenders are gone, believe him.
Interested in hearing how the merger talks evolve by EOY.
You don't have a favorite power company.
Soon you won't have a favorite chatbot either. Intelligence is becoming electricity, and cryptocurrencies will be the meter.
New Current issue:
currentletter.com/p/intelligence…
The neocloud boom has a crypto prequel.
In 2021, miners borrowed billions to buy machines and rent the output. When prices fell, the leverage ate them alive. Core Scientific went bankrupt doing it.
Now the same play is running on GPUs. Borrow big, buy the machines, rent out compute.
@elonmusk The wildest part is that this is becoming routine.
A full-duration 33-engine fire used to be the headline. Now it's just a Tuesday at Starbase.
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