The presumption that the Fed raising short-term rates reduces inflation is predicated on the belief that higher rates reduce demand and investment. But what if higher rates don’t reduce demand and investment because the demand for intelligence and energy is unaffected by higher rates because winning the race for super intelligence has a near infinite ROI and the demand for compute will remain incalculable. Why won’t higher rates at this unique moment in history therefore lead to more inflation as interest costs are embedded in everything? And the problem is compounded as the more the Fed raises rates, the more inflation we will have and the more the Fed will need to raise rates further and so on. But what if the old models don’t apply to the current paradigm and the Fed is wrong? I think the Fed might have just made a mistake. Am I right or am I wrong?

Billions of dollars have been wiped off the value of companies that pivoted their business model to buying and holding bitcoin. Some are selling their tokens and returning to their original core businesses. What happened to the bitcoin treasury boom?

Tony is right but why 10 years? Could be done more quickly. The UK should not seek to replicate the deal it had before. The world has changed so much. She could seek a reformed EU - stronger external borders to stop bogus asylum seeking, enhanced defence and security, more competitive economically, tech leadership, a global actor by scrapping unanimity on foreign policy. The UK rejoining would not be a normal enlargement. UK is the 5/6th biggest economy and military power in the world. It would not be the prodigal son coming home so much as a fresh start that benefits us all 🇬🇧🇪🇺

tell us what will break

Treasury yields March 2020: 30 year 1% 10 year 0.5% 5 year 0.5% 2 year 0.4% 3 month 0% Today: 30 year 5.4% 10 year 5.1% 5 year 5% 2 year 4.9% 3 month 4.1%

All UK listed tech combined makes less than Tesco.

Economic freedom is the only surefire way that humans have discovered to create wealth. stevestewartwilliams.com/p/a…

Forget one major – graduates may need 10 minors in the AI age: Piyush Gupta bit.ly/4hpazJH

SpaceX, Anthropic, and OpenAI are worth more than every U.S. tech IPO of the past 45 years combined.

Whatever you got used to while growing up I guess...

It’s the only capital city in Europe to be so