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This is f*cking insane Billionaire Bill Ackman just explained how the AI bubble pulls people in: "There will come a time, there'll be some form of a blowup, a pretty high profile one, where people lose a whole bunch of money" In 3 minutes, he walks through exactly how bubbles form, what he's seeing in venture right now, and who survives the reset 0:06 What a bubble actually is: FOMO and money piling into the same trade 0:30 Railroads, automobiles, transistors, the internet 0:42 AI is "the most transformational technology" of our lifetimes 1:12 $50M at a $400M valuation. Two weeks later, $50M more at $1B 1:34 A Series A at a $5 billion pre-money 1:50 Berkshire hit an all-time low during the internet bubble 2:25 The Barron's list of how many months of cash dot-coms had left 2:41 "That was probably the week before the market blew up" 3:00 The blowup that causes a reset 3:17 His advice: treat every dollar as if it's your own money When a bubble pops, most people blame the market Ackman is looking at the runway: FOMO → preempted rounds → crazy valuations → fast spending → reset → only years of runway survive Old way: raise at any valuation and spend like the money never stops New way: raise now, keep it in the bank, spend it judiciously Better than any $2,000 finance course I've seen

This is f*cking insane Billionaire Ray Dalio was asked if Jeremy Grantham is right that AI is "the biggest investment bubble in American history" His answer: "He's right" In 5 minutes, he walks through exactly how bubbles like 1929 and 2000 form, and what pops them 0:13 Grantham: the peak "very soon", everything is in line 0:27 Dalio: "He's right" 0:51 The 1929 bubble and the 2000 dot-com bubble 1:58 "Wealth is not the same as money" 2:12 What pricks a bubble: taxes change or interest rates go up 3:16 Why the late '20s were fantastic right before the Great Depression 4:08 Buy one AI share at $100, borrow 50% against it 4:47 A war or a shock, and everybody rushes to sell 5:11 The share drops to $25 and you're $25 in the hole When stocks drop, most people blame the headline Dalio is looking at the leverage: new tech → everyone borrows to bet → rates rise → forced selling → crash Old way: borrow against paper wealth and hope it keeps going up New way: know the cycle, diversify, keep money you can actually spend Better than any $2,000 finance course I've seen

This is f*cking insane Nvidia CEO Jensen Huang just revealed two new money machines that have nothing to do with selling chips: "I just described two new growth vectors independent of the hardware sale of our company" In 5 minutes, he walks through exactly how Nvidia plans to get paid on every GPU for years after it ships 0:18 - Two new business models 0:27 - Software licensing for the enterprise 1:31 - A couple of thousand dollars per GPU per year 1:37 - 20 million GPUs shipped a year 2:21 - Moving cloud partners to rev share 3:17 - Why Buffett avoids tech companies, and why this is different 4:09 - "Whoever Jensen invests in you got to invest in that company" 4:54 - Why OpenAI and Anthropic won't come around again When people value Nvidia, most of them only count hardware sales Jensen is teaching the installed base play: ship the GPU → license the software → share the revenue → return the cash Old way: sell the box, wait for the next upgrade cycle New way: get paid on the box for 4, 5, 10 years This 5-minute clip beats most $500 MBA lectures

This is f*cking insane Nvidia CEO Jensen Huang just explained why Wall Street keeps getting Nvidia wrong: "Sight unseen, who can you place a 50, 100 billion dollar order on? We're literally the only one" In 4 minutes, Jensen and Brad Gerstner walk through exactly why the consensus was off by 100-200% and the stock still trades like nobody believes it 0:16 The consensus forecast at the start of 2025 0:44 Off by a couple hundred percent in one year 1:13 Revenue forecast doubled, stock only up 20% 1:24 13 to 14 times earnings 1:57 Is the moat increasing or decreasing? 2:08 The $100 billion check thought experiment 3:54 Why Nvidia gives 100% of its business to TSMC When a stock lags its numbers, most people blame a bubble Jensen is teaching the trust stack: proven last generation → confidence sight unseen → $100B purchase orders → a moat that grows with scale Old way: benchmark the chip before you buy New way: "you can't even benchmark these things anymore" Better than any $2,000 finance course I've seen

This is f*cking insane Nvidia CEO Jensen Huang just did the AI bubble math live: "They don't have to be anywhere near a trillion dollars in revenues to be successful" In 5 minutes, he walks through exactly why the "OpenAI can't pay for it" fear misses most of the build-out 0:00 The bubble question everyone is asking 0:40 Break it down to first principles 1:22 $3-4 trillion a year in infrastructure by the end of the decade 1:59 Moore's law is over, twice the compute now costs twice the money 3:17 $5 billion per gigawatt then, $50 billion now 4:43 Why two labs don't carry the whole trade When AI stocks drop, most people blame the labs' revenue The split they land on: general compute replacement → neoclouds, sovereigns and startups → frontier labs → a few trillion of infrastructure Old way: one lab misses a number, sell everything New way: ask which part of the build-out actually depends on it Better than any $2,000 finance course I've seen

This is f*cking insane. Ray Dalio on the US debt crisis: "Is a debt crisis imminent in the US?" "I think within the next three years" In 5 minutes, the founder of Bridgewater explains exactly how countries go broke: 0:24 - Why it's a mechanical process 0:34 - Countries work like individuals, "except countries can print money" 1:28 - Spending $7, taking in $5 2:49 - Why the market goes down 3:38 - His timeline 4:15 - The boom that's now "heavily debt financed" "Think about this like a business or an individual. They spend $7. They take in $5, spending 40% more than they're taking in" Debt → Debt service → Less spending → Crisis Most people watch the interest rate Dalio watches how much of the cash flow goes to paying the debt Better than any $1,000 finance course I've seen

This is f*cking insane. Citadel CEO Ken Griffin on the AI bubble: "There's almost certainly bubbles within this moment in time. And any radical transformation of our economy is generally intertwined with a bubble" In 4 minutes, one of the best traders alive explains how to think about it: 0:27 - Why every revolution comes with a bubble 0:53 - "I just wish I'd kept my Amazon stock" 1:36 - The railroads lesson 1:51 - Who wins after the bubble 2:33 - "I've seen the entire industry deleverage to zero at least 10,000 times" 3:25 - The rule that keeps him learning "The companies that are on the other side of that bubble are the market leaders for decades to come" "The minute I start to use an excuse, I actually stop learning" Railroads → Internet → AI → New market leaders When markets drop, most people blame hedge funds deleveraging Griffin puts that at option 10 on the list, not option 1 Better than any $1,000 finance course I've seen

This is f*cking insane. Elon Musk on merging Tesla and SpaceX: "This is definitely the kind of question where I feel like I'm tap-dancing through a minefield" In 3 minutes, he explains exactly where the biggest merger talk on Wall Street stands: 0:38 - Why he has to be careful 0:49 - Both boards formed special committees 1:18 - The "odd kabuki dance" he can't be part of 1:38 - Why calling it a certainty is "overstating it" 1:57 - The 50% vote that makes it hard 2:28 - Why he thinks it's a good idea "Do I think it would be a good idea? Yes" But Tesla needs "a 50% vote of all shares, not just those who vote" His case: superintelligence software, chip design, Terafab, robotics, mass to orbit, Starlink connectivity Rockets → Cars → Chips → One company When a merger headline drops, most people buy the hype Musk is telling you the real hurdle is the shareholder vote Better than any $1,000 finance course I've seen