JUST IN: Michael Burry predicts a massive AI crash is coming

The idea that soccer is more complex than football is just comically inaccurate. In football, you see teams with inferior talent regularly win games because they have better schemes and smarter playcallers. That almost never happens in soccer, and when it does the scheme is almost always "park the bus and hope to steal a set-piece goal or win on penalties."

Actually I think the floor on this is much lower than initially assumed 25% of 2Q revs in SCAs, which annualized x 5 years should be $207B, but RPO is only $100B. That’s bc RPO is based on floor price. I estimate floor price may therefore be -50% below 2Q levels for these deals. Pretty good for the customers who locked these in ($NVDA & CSPs): upside price capped, volume secured, and in downturn you can still see cost fall -50%. $MU says SCA margins still “well above” prior cycle peaks at floor price. If prices fell 50%, GM would go from ~89% to the mid-70s (counter intuitive but that’s the math). If headline was 40% of revenue was abt to have price caps, and still -50% price downside, stock reaction prob a little less favorable. I think good deals for the clouds given the environment. In absolute sense still very good deal for $MU too, but I recant my prior statement abt almost impossible for earnings to decline. They absolutely could w/ so much room on the price floor (I had assumed a narrower band).

What’s a line from something you’ve read that you find yourself repeating in your head every now and then?