Microsoft and OpenAI restructured the most important deal in AI, removing the AGI clause and letting OpenAI go multi-cloud. Iran offered to reopen Hormuz if the US lifts its blockade; Rubio called it unacceptable within hours. Five Mag 7 earnings this week carry $16 trillion in market cap into the most event-dense calendar since the pandemic.
“The thing you keep putting off because the timing isn't right will never have perfect timing. The timing is made right by starting.”
“You are allowed to change your mind without explaining it to anyone. Growth does not owe the world a press release.”
“The person who taught you the most important thing you know probably has no idea they did it. Maybe tell them.”
The cloud oligopoly's competitive structure changed overnight when the most important exclusivity agreement in AI was dissolved, and the market has not yet priced what…
Domino's earnings miss reveals the consumer demand signal that aggregate data has been hiding: domestic same-store sales grew just 0.9% versus 2.3% expected, the delivery…
“Do not be afraid of going slowly. Be afraid only of standing still.”
— Chinese proverb
**Today's action: identify one thing you've been measuring by speed that should be measured by direction. Are you pointed at the right thing? If yes, the pace will take care of itself. If no,…
The market is telling itself three stories this week: AI spending will pay off, oil disruption is temporary, consumer spending is resilient. Each story fills a gap where data is incomplete. The AI revenue data doesn't exist yet (spending is…
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Five companies worth $16 trillion report earnings this week. The market sits at a record high. Brent crude is above $107. The IMF just downgraded global…
Josh Wolfe published an essay this week built on a single observation: the difference between a Ferrari 296 GTB and a pile of scrap metal is not the atoms.…
Intel surging 23% on earnings is a market event. The reason it surged is a geopolitical one.
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