Posts
Betting on AI - Where Is The Moat?
Hyperscale data center financial games - caveat emptor
Below is a great post on the financial games promoters are playing in the financing of hyperscale data centers. The author teases apart the various aspects of the deal structure and explains them coherently. IMO, this is a must-read for anyone interested in this space: [https://shanakaanslemperera.substack.com/p/the-clocks-on-one-building](https://shanakaanslemperera.substack.com/p/the-clocks-on-one-building)
What Really Matters
Latest Thrive Returns - some considerations
1) Outstanding Returns 2) No One is immune to a Bubble 3) DPI does not rhyme with VC 4) Key companies by fund 1) Outstanding Returns Lowest Net IRR is 12% for a fund deployed at the peak of the bubble Second lowest Net IRR is 17.5% (!!!) To anyone …
A Great Quarter for CRWV's Lenders
A BrAIve New World for Credit
For those who have the time
This is a very, very granular analysis on Reddit's advertising business that I wrote up on. RDDT is currently blowing up on X, and the sentiment seems quite interesting. Retail is very bullish, assuming that the 20% drop on earnings was overblown, and that stagnant DAU growth isn't as big …