Podcasts about capex

Building long-term wealth through real estate is the ultimate goal, but jumping into rentals too early can actually bankrupt your wholesaling business. In this Throwback Thursday episode, Brent Daniels is joined by Evernest's Spencer Sutton to discuss the exact moment an active wholesaler should transition into a passive buy-and-hold investor. Spencer breaks down the harsh realities of property management, sharing a painful eviction story that highlights why the resident, not the house, is your true asset. You will learn the exact cash reserves you need before buying your first rental, how to accurately calculate maintenance and CapEx, and why you should never hold a property you wouldn't otherwise buy. Be a part of the TTP training program now.---------Show notes:(0:00) Beginning of today's episode(0:51) Meet Spencer Sutton and Evernest's 20,000 door operation(4:32) Transitioning from active wholesaling to passive holding(10:05) Why you must master property management yourself first(12:18) The hidden costs of rushing your tenant screening process(16:18) The resident is the asset, not the house(18:41) Brent's $300,000 cash reserve rule for new landlords(23:52) Should you buy now or wait for a market crash, mindset(25:41) Accurately estimating maintenance costs based on home age(29:05) Budgeting 10% to 15% of gross rent for upkeep and CapEx----------Resources:EvernestHomeVestorsTo speak with Brent or one of our other expert coaches call (281) 835-4201 or schedule your free discovery call here to learn about our mentorship programs and become part of the TribeGo to Wholesalingincgroup.com to become part of one of the fastest growing Facebook communities in the Wholesaling space. Get all of your burning Wholesaling questions answered, gain access to JV partnerships, and connect with other "success minded" Rhinos in the community.It's 100% free to join. The opportunities in this community  are endless, what are you waiting for?

Midterm elections, backlash against data centers and a U.S.-China summit. Michael Zezas and Ariana Salvatore discuss themes that could test investor confidence in the coming months.Read more insights from Morgan Stanley.----- Transcript -----Michael Zezas: Welcome to Thoughts on the Market. I'm Michael Zezas, Deputy Global Head of Research for Morgan Stanley.Ariana Salvatore: And I'm Ariana Salvatore, Head of Public Policy Research.Michael Zezas: Today, we'll look ahead to public policy catalysts that matter for investors this fall.It's Wednesday, September 2nd at 10:30am in New York.Okay, Ariana, there's a few days left in the summer, and investors are already starting to think about what's going to happen this fall. And there's a pretty heavy calendar; everything from midterm elections to some pretty important diplomatic dates. High level, what do you think people need to focus on?Ariana Salvatore: So, I'll start with probably the most consequential catalyst of the list that you mentioned, and that's the midterm elections. Obviously, not until November 3rd, but the debate is going to start to emerge over the coming weeks – in terms of if Democrats were to win just one chamber versus both chambers; if Republicans were to keep control; what could that mean for markets? And what are the durable policy themes?I think in this context, the biggest debate far and away is on data center pushback. And this has transitioned from more of a macro thematic. So, investors trying to understand the potential implications for the CapEx build-out, to more of a micro really granular question, right? Which races are the ones that we need to watch? Where are there states or jurisdictions that projects that are pending could be possibly called into question?And that's, sort of, the continuous debate that I've had recently with investors, trying to pinpoint it more precisely to figure out where exactly the build-up could be impacted.Michael Zezas: So, I hear from investors this general concern that the midterm elections will reveal that it's become a consensus preference amongst American voters and members of both parties to slow down on data center spending. Or perhaps even stop it or something more severe like that.What type of midterm election outcome would point to that as a possibility?Ariana Salvatore: Well, I would start by saying the politics here are scrambled in the sense that there's no clear fault lines when it comes to Democrats or Republicans around data center opposition, right? We are seeing some pretty notable pivots even from lawmakers that in the past were supportive of data centers. So that's why I think we have to zoom into these really specific races.And there I would say there's some governorships that matter actually more than some of the Senate races; because remember, governors also in certain states can appoint public utility commissioners. And in places like Texas, that actually could be a really consequential outcome for the 2026 midterm elections, more so than who ends up sitting in Congress on a very federal level.Michael Zezas: Okay. And so, would you say it's fair then that folks running for office who are challenging incumbents in both parties, who are expressing a desire for more regulation on data centers, that it kind of cuts across both parties? So, this is more about folks challenging incumbents than it is about one party or the other having a specific view on AI and the AI industrial build-out via data centers?Ariana Salvatore: That's right. It's hard to sort into these really generic party umbrellas, and there are a few nuances under the surface. If you look at something like Ohio. The governor's race there, both the Republican and Democrat candidates are proposing a conditional build-out, basically. So, if certain projects meet criteria, they're going to be allowed to proceed.In other races, like in Texas and Pennsylvania governorships, you're seeing the opponents basically propose a more restrictive form of the pause or directive that's already in place. So, I would say it's not very clean in terms of Democrat or Republican-led. And that just gives us conviction that this is going to persist and remain an issue even after November. Even though the federal policy incentives we don't think are likely going to change.Michael Zezas: So, we could see investors taking a signal about the AI data center build-out from an outcome where incumbents don't do particularly well.Now, I know we're still doing work on this, but what's the current thinking about – even if we were to see a result like that, how much should investors be concerned that the expectations around spending on data centers might not be realized because of new policy, other regulatory changes that would come as a result of the midterms?Ariana Salvatore: So, I would say overall, we are still very constructive on AI CapEx, right? So, our internet team is still forecasting over a trillion dollars of spending for the hyperscalers next year, and there are a few reasons for that, one of which has to do with this AI sovereignty theme that we've been writing about.So, this notion that governments are increasingly wanting to control their own stack and their own AI capabilities, so that's driving a bit of the spend. On the other hand, we are starting to see mitigation measures from some of these companies to appease some of that local community backlash. And there we don't see a one-size-fits-all approach.We see very tailored solutions depending on what the source of the pushback is. Just to give a few examples. When you have communities that care about electricity price increases, for example, many hyperscalers have signed on to the Ratepayer Protection Pledge. When you have communities that care about the environmental impact, you've got companies like Google who said they want to put forward a regulatory framework for water usage; Amazon also disclosing their water usage in data centers.And so, like I said, there's not really a uniformity to these responses, but enough that we think will mitigate the concern and still leaves us constructive on the overall build-out.Michael Zezas: Right. And you actually bring up a really interesting point on the idea of AI sovereignty. Some of the kind of similar concerns that are driving voter anxiety around the build-out of AI, might also reinforce some of the spending that has to happen there. To the extent that voters and policymakers are concerned that AI should be controlled and aligned with American values would require some spending to make sure that there's sufficient supply chains and other variables in play that the U.S. is in control of.Is that fair?Ariana Salvatore: That's right. That's one of the clear policy consequences we see from this shift in sovereign AI and governments seeking that control. The other one is, of course, the potential for further tech restrictions and divergence between the U.S. and China on AI specifically.Michael Zezas: So, on the topic of China and the U.S., one date that you point out here is September 24th, a date when the U.S. and China are going to be meeting again. What's on the table for discussion? What do investors need to know? Obviously, there have been concerns over the past year about the level of tariffs and trade tensions between the two.Is there anything here that we need to pay specific attention to?Ariana Salvatore: So, we think the overarching goal for both sides is to maintain this managed stability that was established in the May summit too. At that point, the clear deliverables were around trade, right? So agricultural purchases, Boeing purchases, et cetera.We think there's likely some small incremental change to those deliverables, in particular when it comes to AI dialogue. But notably, we think there's potential for escalation into that summit, again, within the bounds of what we call tactical escalation. But we do think that there's plenty of room for more policy escalation between both the U.S. and China in line with some recent action that we've seen over the past few weeks.Michael Zezas: Got it. And there's also a couple of important considerations around fiscal policy, funding, the National Defense Authorization Act (NDAA). Can you talk us through that a bit?Ariana Salvatore: Yeah, so fiscal's been in the headlines recently as well, just given the Treasury buybacks and crossing that $40 trillion threshold. And I think in that context, it sort of puts a renewed spotlight on government funding.There we see a potential latent risk of another shutdown come December, right? So, we saw a continuing resolution pass both the House and the Senate and sort of punt that debate until after the elections.And then the NDAA is the annual bill that funds the Pentagon. It has to be done in December on a bipartisan basis. So, the elections have the potential to shift the incentive structure for some lawmakers, and we could see these, kind of, re-emerge as really big debates towards the end of the year.Michael Zezas: Now, interestingly enough, we've got a bunch of catalysts to pay attention to: midterms, the potential for data center pushback as a consequence of it, a U.S.-China summit, which we think is going to result in the continuation of managed stability, and fiscal catalysts where, you know, the debt and the deficit have been in scope and concern, particularly for equity investors. All of that is happening against a backdrop where the historical norm going into midterm elections – is one where the equity market tends to struggle a bit. Is that fair?Ariana Salvatore: Yeah. So, we tend to see a little bit of negative seasonality into the midterm elections, and our equity strategy team has pointed out the potential for a knee-jerk reaction if you were to see Democratic outperformance in November. We think that's not likely to be durable. We think it's more so the case that investors are going to pull forward the anticipation of Democrats doing well in the 2028 presidential election.We don't think that's going to be a long-lasting theme in the market, but it's typically in line with what we see during elections.Michael Zezas: So, this idea that there are going to be seasonal challenges to the equity market is important to take on board, particularly when there are a lot of policy narratives which in the investor's mind could reinforce the price action that comes with weak seasonality.But our view is that you need to keep your eye on the secular trends here underpinning economic growth, including the AI build-out, which we think at the moment is going to be less sensitive to some of these policy outcomes than it might seem – given strong campaign rhetoric around restricting data centers.Is that a fair statement?Ariana Salvatore: Yes, that's right.Michael Zezas: Great. Well, Ariana, thanks for taking the time to talk.Ariana Salvatore: Pleasure speaking with you, Mike.Michael Zezas: And thanks for listening. Ariana, what should our audience do next?Ariana Salvatore: If you enjoyed the podcast, leave us a review wherever you listen and share Thoughts on the Market with a friend or colleague today.

Global bond yields are rising, stocks are under pressure, and the latest jobs data is giving the Fed more to consider ahead of its September meeting.Mike Armstrong and Marc Fandetti discuss why long term rates are moving higher around the world, what a new rate regime could mean for borrowers, stocks, and governments, and why the JOLTS report keeps the labor market picture mostly steady. They also break down the biggest unanswered question in AI, whether the massive CapEx boom can eventually produce enough revenue, and why private market investments tied to companies like SpaceX are drawing more scrutiny from regulators.

In this Weekly Wrap, Jack Forehand and Matt Zeigler break down why rising long-term bond yields may be justified by stronger nominal growth, large fiscal deficits and AI-driven capital spending, and why the bigger market risk may be an AI earnings bubble rather than a valuation bubble. Featuring Kevin Muir, Dan Rasmussen and Ian Cassel, the episode also explores private equity's huge software bet, the traits of elite stock pickers, and how the worldview of AI leaders could be driving unusually aggressive capital spending and risk-taking.Topics covered:Why long-term bond yields may be more rational than alarming given stronger nominal GDP, inflation, deficits and heavy Treasury and corporate issuanceHow global fiscal expansion and the AI infrastructure build-out are adding to bond supply and upward pressure on ratesWhy suppressing market interest rates can distort an important economic signal and create unintended consequencesHow private equity became a lagged momentum investor and built massive exposure to software and healthcare technologyWhy recurring revenue does not make a business bulletproof, and how AI could challenge software economics that once looked untouchableIan Cassel's benchmarks for good, great and GOAT stock pickers, from 10-year outperformance to 20% annualized returnsThe five or six core investing skills elite stock pickers need, and why world-class investors become exceptional at one or twoHow AI CapEx can boost current supplier earnings while the buyer's expense is spread over years through depreciationWhy an AI earnings bubble could exist even if headline valuation multiples do not look extremeHow futurism, expected-value thinking and confidence in AGI may be encouraging AI leaders to take enormous capital spending risksTimestamps:00:00 Intro: Kevin Muir, Dan Rasmussen and Ian Cassel05:09 Why suppressing bond yields could create new risks09:54 Private equity as a lagged momentum investor14:15 Why investment committees chase three- and five-year returns19:00 The skills that separate good investors from great ones23:11 Why elite stock picking takes a decade or more to judge27:18 How AI CapEx is changing cash flow, buybacks and earnings31:47 Price bubbles vs earnings bubbles36:00 Why AI leaders may be taking massive CapEx risk40:49 AI adoption bottlenecks and the need for skepticismLearn more about the Excess Returns podcast network:https://excessreturns.coNo information discussed in this podcast should be construed as investment advice. Securities discussed may be held by the hosts and guests, their firms or their clients.

Nvidia's Jensen Huang stunned investors with a bold prediction for AI capex spending, and Marvell's blowout earnings seem to back him up. Plus, CrowdStrike's "Mythos moment" is reshaping the cybersecurity landscape, separating the AI-security winners from the laggards. Jon, Jason, and Matt also talk about turnarounds in light of Dick's Sporting Goods suffering its worst single-day drop before finishing up with stocks on our radar. Jon Quast, Jason Hall, and Matt Frankel discuss: - Nvidia's prediction for AI capex spend - Marvell's accelerating growth - CrowdStrike's “Mythos moment” tailwind - Winners and losers in AI cybersecurity - Dick's worst day ever - As always, stocks on our radar Companies discussed: Nvidia (NVDA), Marvell (MRVL), CrowdStrike (CRWD), SentinelOne (S), Okta (OKTA), PayPal (PYPL), AppLovin (APP), Sterling Infrastructure (STRL), Dick's Sporting Goods (DKS), Atlanta Braves Holdings (BATRA), Forget Power Solutions (FPS) Host: Jon Quast Guests: Jason Hall, Matt Frankel Engineer: Dan Boyd Disclosure: Advertisements are sponsored content and provided for informational purposes only. The Motley Fool and its affiliates (collectively, “TMF”) do not endorse, recommend, or verify the accuracy or completeness of the statements made within advertisements. TMF is not involved in the offer, sale, or solicitation of any securities advertised herein and makes no representations regarding the suitability, or risks associated with any investment opportunity presented. Investors should conduct their own due diligence and consult with legal, tax, and financial advisors before making any investment decisions. TMF assumes no responsibility for any losses or damages arising from this advertisement. We're committed to transparency: All personal opinions in advertisements from Fools are their own. The product advertised in this episode was loaned to TMF and was returned after a test period or the product advertised in this episode was purchased by TMF. Advertiser has paid for the sponsorship of this episode. Learn more about your ad choices. Visit ⁠megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

On episode 257 of The Compound and Friends, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Downtown Josh Brown⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and Michael Batnick are joined Ed Zitron to discuss: the ultra-bear case for AI, Nvidia's explosive growth, the economics of OpenAI and Anthropic, whether AI demand can justify the massive hyperscaler CapEx boom, the data center buildout, CoreWeave and the neoclouds, Oracle's AI bet, private credit and debt financing, the warning signs that could finally break the AI spending cycle, the “rot economy,” whether AI is actually improving corporate productivity, and much more! This episode is presented by Fidelity Investments and the all-new Fidelity Trader+, Fidelity's most powerful trading platform yet. Learn more at http://www.fidelity.com/TraderPlus Sign up for The Compound Newsletter and never miss out: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠thecompoundnews.com/subscribe⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Instagram: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠instagram.com/thecompoundnews⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠twitter.com/thecompoundnews⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠linkedin.com/company/the-compound-media/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ TikTok: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠tiktok.com/@thecompoundnews⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Josh Brown are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. The Compound Media, Incorporated, an affiliate of ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ritholtz Wealth Management⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ritholtzwealth.com/advertising-disclaimers⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ritholtzwealth.com/podcast-youtube-disclosures/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Fidelity Disclosure: Fidelity Investments and The Compound are not affiliated. Views, opinions, products, services, and strategies discussed are not endorsed or promoted by Fidelity Investments. Fidelity Brokerage Services LLC, Member NYSE, SIPC Learn more about your ad choices. Visit megaphone.fm/adchoices

Jon Turek is the founder and CEO of JST Advisors, a hedge fund advisory service that publishes a weekly research note with global macro trade ideas. JST Advisors works closely with hedge funds on developing asymmetric macro trade ideas and market themes. Outside of JST Advisors, Jon worked as a portfolio manager at Brevan Howard and as an analyst at Moore Capital. In this podcast, we discuss: The Substack Divide of Equities vs. Macro The Buy-Side Paradox of PM Asymmetry and Pod Reality The "Owl" Fed and Political Optimisation over Conviction The Trillion-Dollar AI Fiscal Program The Death of the 2010s Savings Glut Treasury Buybacks and "Whack-A-Mole" Markets Europe's Impending China Tariff Shock The Simmering Geopolitical In-Between for Oil 

In this episode of the Construction Corner podcast, Dillon dives deep into the AI-driven data center boom and what's really holding it back. He argues that while demand for electrical engineers and construction is set to grow significantly, the true bottleneck isn't chip supply or capital — it's power generation and transmission, tangled up in legislative and utility delays. Along the way, he unpacks how memory shortages, fab construction (like Micron's long-stalled New York facility), and hyperscaler CapEx spending from the "Mag Seven" all ripple through the supply chain together.The conversation then takes a turn toward the future: could data centers eventually move off-planet? Dillon walks through how SpaceX's Starship and V3 satellites are multiplying available bandwidth, how NVIDIA has already tested GPUs in space, and why space-based or off-shore data centers might become the answer once terrestrial power and jurisdictional constraints become too limiting — pointing to alternatives like the Middle East as jurisdictions more willing to host this infrastructure.

Raoul and Andreas Steno break down how Treasury policy, a weaker dollar, and improving liquidity could extend the business cycle and support risk assets like Bitcoin into 2027. They also explore why the AI and CapEx boom may still be in its early stages, with productivity gains and surging demand for compute reshaping the economy. Recorded  August 25, 2026. TOKEN2049 Singapore, the world's largest crypto event, returns to Marina Bay Sands on 7–8 October. 25,000 attendees, 500 exhibitors, 300 speakers and 1,000 side events take over the city during TOKEN2049 Week. On stage: Raoul Pal (Real Vision), Jeff Yan (Hyperliquid) and Shayne Coplan (Polymarket). The Real Vision community gets 10% off tickets; claim yours. -- https://checkout.token2049.com/events/asia?promo=realvision10&utm_source=newsletter&utm_medium=email&utm_campaign=realvision&utm_id=realvision

In real estate, moving faster doesn't always mean getting ahead. Sometimes, the smartest thing you can do is slow down. In this episode, Gino Barbaro breaks down the idea of “slowing down to speed up” in real estate investing — a strategy built around creating clarity, making better decisions, and avoiding costly mistakes before they happen. From buying deals to operating properties and scaling a portfolio, Gino explains why rushing into opportunities can lead to years of problems — and why taking a few extra days to analyze the numbers, verify assumptions, and understand the market can save you years of pain. One of the key principles: No deal is better than a bad deal. When evaluating a property, don't simply trust the projections. Slow down and verify the rents, expenses, occupancy, market conditions, CapEx, and the actual condition of the property. A deal only becomes an opportunity when the numbers work at a realistic price. Gino also explains how this principle applies to operating multifamily properties. Before trying to fix a problem, slow down and diagnose what's actually causing it. He uses the Four Ps — People, Price, Product, and Promotion — as a framework for identifying what's really happening inside a property. And when it comes to scaling, the same principle applies. Adding more units isn't necessarily progress if your infrastructure can't support the growth. Before scaling, ask: • Do we have the right people? • Do we have clear processes? • Are we tracking the right KPIs? • Does everyone know what they're accountable for? • Can the business operate without everything going through the entrepreneur? If the answer is no, it may be time to slow down and build the infrastructure before adding more units. Gino also shares the “Stop Audit” — an exercise designed to help real estate investors identify the areas where they're constantly putting out fires and determine what can be systemized, delegated, or eliminated. The goal isn't to hesitate. It's to create clarity first, then move fast. Slow down. Analyze the numbers. Remove the emotion. Make the decision rationally. And once you know the deal works, that's when you speed up and execute. Because in real estate, moving fast on the wrong decision can cost you years. If you're a real estate investor, multifamily operator, or entrepreneur looking to make better decisions and build a scalable business, this episode is for you.

────────────────────────────────────────[00:02:09]Dolly Parton Used to Push Vaccines — Her Health Issues Began Shortly After She Got the ShotShe was charming and they used her; she is as much a victim as anything; health issues began shortly after the Moderna shot; her husband died a year ago.────────────────────────────────────────[00:27:19]Bessent Doubled Treasury Buybacks — Soros' Right-Hand Man Running Monetary Policy While MAGA Looks AwayMAGA goes several levels down to find a Soros connection, but the direct one at the top — Scott Bessent — gets a pass because Trump chose him.────────────────────────────────────────[00:29:00]AI Is Now 41% of the S&P 500 — Worse Than Dot Com, Worse Than 1929, Worse Than BIS SaidAt the dot com high it was 26.5%; now 41%; household equities at 42% of financial assets vs 38% at the dot com peak; never seen a market this inflated.────────────────────────────────────────[00:33:28]CDC Scientist Paul Thorntson Pleading Guilty — Used Grant Money to Buy a House, Two Cars, and a MotorcycleHis fake MMR/autism study was cited to deny more than 5,000 families' vaccine injury claims; the real crime is that the fraudulent research became official policy.────────────────────────────────────────[00:39:14]Thimerosal Is Mercury — Barbaric, Dark Ages ScienceKnight couldn't wear soft contacts because of thimerosal — turned his eyes blood red; they inject that into infants with undeveloped immune systems.────────────────────────────────────────[00:47:38]Navy Mandating mRNA Flu Shots While Inviting Back Marines It Fired for Refusing the COVID ShotOf 3,748 eligible Marines contacted, only 53 returned; Navy now mandating new shots; Hegseth's reinstatement PR says nothing about what comes next.────────────────────────────────────────[00:55:57]IDF Destroying Christian Villages in Lebanon — Calling Them Hezbollah Fortresses to Justify DemolitionTroops vandalized a Christian church inside; Katz said some villages must disappear; white phosphorus deployed; collective punishment that defines Nazism.────────────────────────────────────────[01:15:46]JFK Refused to Give Israel Nuclear Technology — Source: Every One of 10,000 Unreleased Documents Points at IsraelCongress passed a law twice demanding release; Trump didn't comply; Kennedy was actively trying to stop Israel from acquiring nuclear technology.────────────────────────────────────────[01:17:16]Rabbi Shmuley Makes Violent Threats Against Tucker Carlson and Candace Owens — Calls for Jews to Be Feared, Not LovedKnight: you can't handle a debate so you threaten; the man demanding Israel be feared is outraged anyone criticizes what is done to Gaza.────────────────────────────────────────[01:53:18]The AI Bubble Has Less Than a Year — Data Centers Will Become Pickleball CourtsSteve Keen called the 2008 crash; CAPEX is 87% short of what's needed; NVIDIA becoming its own bank; when credit disappears, data centers with 3-year GPUs become worthless. ──────────────────────────────────────── Money should have intrinsic value AND transactional privacy: Go to https://davidknight.gold/ for great deals on physical gold/silver For 10% off Gerald Celente's prescient Trends Journal, go to https://trendsjournal.com/ and enter the code “KNIGHT” For high quality made in America products go to HomeSteadProducts.shop and use promo code “Knight” for 10% off your purchases Find out more about the show and where you can watch it at TheDavidKnightShow.com If you would like to support the show and our family please consider subscribing monthly here: SubscribeStar https://www.subscribestar.com/the-david-knight-show Or you can send a donation throughMail: David Knight POB 994 Kodak, TN 37764Zelle: @DavidKnightShow@protonmail.comCash App at: $davidknightshowBTC to: bc1qkuec29hkuye4xse9unh7nptvu3y9qmv24vanh7Become a supporter of this podcast: https://www.spreaker.com/podcast/the-david-knight-show--2653468/support.

────────────────────────────────────────[00:02:09]Dolly Parton Used to Push Vaccines — Her Health Issues Began Shortly After She Got the ShotShe was charming and they used her; she is as much a victim as anything; health issues began shortly after the Moderna shot; her husband died a year ago.────────────────────────────────────────[00:27:19]Bessent Doubled Treasury Buybacks — Soros' Right-Hand Man Running Monetary Policy While MAGA Looks AwayMAGA goes several levels down to find a Soros connection, but the direct one at the top — Scott Bessent — gets a pass because Trump chose him.────────────────────────────────────────[00:29:00]AI Is Now 41% of the S&P 500 — Worse Than Dot Com, Worse Than 1929, Worse Than BIS SaidAt the dot com high it was 26.5%; now 41%; household equities at 42% of financial assets vs 38% at the dot com peak; never seen a market this inflated.────────────────────────────────────────[00:33:28]CDC Scientist Paul Thorntson Pleading Guilty — Used Grant Money to Buy a House, Two Cars, and a MotorcycleHis fake MMR/autism study was cited to deny more than 5,000 families' vaccine injury claims; the real crime is that the fraudulent research became official policy.────────────────────────────────────────[00:39:14]Thimerosal Is Mercury — Barbaric, Dark Ages ScienceKnight couldn't wear soft contacts because of thimerosal — turned his eyes blood red; they inject that into infants with undeveloped immune systems.────────────────────────────────────────[00:47:38]Navy Mandating mRNA Flu Shots While Inviting Back Marines It Fired for Refusing the COVID ShotOf 3,748 eligible Marines contacted, only 53 returned; Navy now mandating new shots; Hegseth's reinstatement PR says nothing about what comes next.────────────────────────────────────────[00:55:57]IDF Destroying Christian Villages in Lebanon — Calling Them Hezbollah Fortresses to Justify DemolitionTroops vandalized a Christian church inside; Katz said some villages must disappear; white phosphorus deployed; collective punishment that defines Nazism.────────────────────────────────────────[01:15:46]JFK Refused to Give Israel Nuclear Technology — Source: Every One of 10,000 Unreleased Documents Points at IsraelCongress passed a law twice demanding release; Trump didn't comply; Kennedy was actively trying to stop Israel from acquiring nuclear technology.────────────────────────────────────────[01:17:16]Rabbi Shmuley Makes Violent Threats Against Tucker Carlson and Candace Owens — Calls for Jews to Be Feared, Not LovedKnight: you can't handle a debate so you threaten; the man demanding Israel be feared is outraged anyone criticizes what is done to Gaza.────────────────────────────────────────[01:53:18]The AI Bubble Has Less Than a Year — Data Centers Will Become Pickleball CourtsSteve Keen called the 2008 crash; CAPEX is 87% short of what's needed; NVIDIA becoming its own bank; when credit disappears, data centers with 3-year GPUs become worthless. ──────────────────────────────────────── Money should have intrinsic value AND transactional privacy: Go to https://davidknight.gold/ for great deals on physical gold/silver For 10% off Gerald Celente's prescient Trends Journal, go to https://trendsjournal.com/ and enter the code “KNIGHT” For high quality made in America products go to HomeSteadProducts.shop and use promo code “Knight” for 10% off your purchases Find out more about the show and where you can watch it at TheDavidKnightShow.com If you would like to support the show and our family please consider subscribing monthly here: SubscribeStar https://www.subscribestar.com/the-david-knight-show Or you can send a donation throughMail: David Knight POB 994 Kodak, TN 37764Zelle: @DavidKnightShow@protonmail.comCash App at: $davidknightshowBTC to: bc1qkuec29hkuye4xse9unh7nptvu3y9qmv24vanh7Become a supporter of this podcast: https://www.spreaker.com/podcast/the-real-david-knight-show--5282736/support.

In this episode of the Construction Corner podcast, host Dillon shares a candid look at his own engineering career path — from two internships and full-time work at a small electrical safety firm, to transitioning into the A&E industry and eventually earning his PE license. He breaks down the typical four-year journey toward licensure, why company size and culture matter early on, and how attrition can accelerate your career if you stick around long enough.Dillon also offers practical advice for engineering students and young professionals: talk to upperclassmen and alumni about their real experiences, understand how a good (or bad) manager shapes your day-to-day, and don't sleep on taking your FE exam early. He touches on which disciplines most need a PE (civil, structural, electrical, some mechanical and chemical), the freedom a PE license provides for consulting or starting your own firm, and wraps up with a discussion on construction's outsized role in the economy — including the massive data center CapEx spending driving growth into 2026.

Justin Bergner talks about Gabelli Dividend Growth Fund holdings including Alphabet (GOOGL), Amazon (AMZN), Merck (MRK), and Ferguson Enterprises (FERG) in the context of countervailing market forces. With rising yields, the U.S. budget deficit, and hyperscaler CapEx, what could cause a market correction? Bergner is focused on “bottoms up” equity research to find “idiosyncratic winners.”

Patrick Moorhead and Daniel Newman break down Marvell's $120 billion custom-silicon deal with Google, Qualcomm-owned Modular's open-source compiler push at ModCon 2026, and state-level pushback against AI data center construction in Texas and Pennsylvania. The hosts also flip roles to debate whether NVIDIA's reduced Ohio financing guarantee signals cracks in the AI infrastructure buildout. The handpicked topics for this week are: Marvell and Google Finalize $120 Billion Custom-Silicon Deal: Marvell secured a six-and-a-half-year agreement with Google worth close to $20 billion annually, alongside a warrant covering approximately 7% of the company. The deal extends Marvell's position across all three major hyperscalers through attach silicon: accelerators, optical and networking connectivity, memory interfaces, and near-memory compute built around the TPU ecosystem. Patrick Moorhead noted Marvell's CXL memory-pooling work signals where next-generation architecture is heading beyond current TPU designs. (The Decode) Modular Delivers on Open Compiler Promise at ModCon 2026: Modular open-sourced its Mojo compiler under Apache 2.0 and launched Modular Cloud, a platform letting enterprises arbitrate across both AI models and underlying hardware architectures. Moorhead reported the update removes device restrictions from the Max license and adds support for AWS Trainium and Qualcomm's own data center accelerators, with an alliance program set to launch by year-end. He argued the move gives Qualcomm indirect revenue exposure across every token served, extending its footprint from data center to edge, robotics, and industrial IoT. (The Decode) OpenAI Balances a Safety Push With Codex-Driven Enterprise Wins: OpenAI paused reinforcement learning for its newest model and strengthened its data-retention policies, while high-profile Codex results—including Asana compressing an estimated five-year engineering effort into two weeks—showcased its enterprise impact. Daniel Newman saw the timing as an effort to reset the narrative around safety and transparency after months of competitive pressure from Anthropic. Patrick Moorhead also examined OpenAI's use of activation classifiers, which monitor internal model activity token by token and trigger deeper review only when risks are detected—a safeguard that adds roughly 20% to inference costs. (The Decode) Texas and Pennsylvania Tighten Rules on AI Data Center Development: Governors in both states issued new restrictions within two weeks of each other, with Texas pausing new approvals pending an audit, and Pennsylvania adding fresh permitting requirements. Moorhead reported that at least 40% of Texas's planned data centers run on self-sustaining natural gas power and never touch the ERCOT grid. Newman connected the political friction to a communications gap, noting recent polling shows more support for a nuclear plant nearby than a new AI data center. (The Decode) Micron Commits $10 Billion to Boise Research Labs on Top of $50 Billion Fab Buildout: Micron unveiled a decade-long research lab investment in Boise, Idaho, alongside its existing $50 billion fabrication expansion, part of a CapEx program Newman noted totals roughly a quarter trillion dollars in commitments. Both hosts framed the spending as reinforcing memory's strategic status alongside leading-edge logic, with Newman citing HBM's technical differentiation as harder for competitors to replicate than standard NAND or DRAM. Moorhead pointed to Micron CEO Sanjay Mehrotra's argument that domestic memory manufacturing will determine AI leadership. (The Decode) The Flip: Is NVIDIA's Ohio Scale-Back a Capex Crack or Disciplined Structuring?: NVIDIA reduced its financing guarantee for OpenAI's Ohio data center from $250 billion to under $120 billion, a shift Moorhead argued as the first visible sign of balance-sheet discipline overtaking the demand story. Newman countered that the adjustment is one component of a financing platform exceeding $600 billion, with the ceiling free to rise toward $350 billion as compute commitments grow. The Flip assigns Patrick Moorhead and Daniel Newman opposing sides of a debate, not necessarily their own positions. The exercise tests how far each argument holds up. (The Flip) Micron ($MU) Reclaims $1,000 for First Close Since Early July: Micron shares closed above $1,000 on Monday, August 17, with analyst price targets extending to $2,200 as HBM capacity books through 2027. Newman tied the stock's volatility to broader credit and bond-market conditions, including rising long-term Treasury yields. Moorhead noted the White House recently discouraged Apple from sourcing Chinese memory, a factor he sees supporting the move. (Bulls and Bears) Analog Devices ($ADI) Posts First-Ever $4 Billion Quarter: Analog Devices reported fiscal Q3 2026 results Wednesday, August 19, beating on revenue and EPS with a Q4 guide above consensus. Moorhead noted the company's data center business, filed under its communications segment, grew 84%. He argued Analog Devices under-tells that story relative to peers like Coherent, which market similar exposure more directly. (Bulls and Bears) Watch the full episode at sixfivemedia.com and subscribe to the Six Five Pod so you never miss an episode. Six Five Summit: AI Unleashed runs August 25–27, fully virtual, with speakers including Marc Benioff and leaders from Snowflake, Applied Materials, and Marvell. Register at sixfivemedia.com/summit. The Decode Marvell + Google https://finance.yahoo.com/technology/ai/articles/marvell-lands-white-whale-google-072339694.html Modular Mojo 1.0 https://www.modular.com/blog/mojo-open-source OpenAI Safety Controls   https://x.com/OpenAI/status/2090165328290701800 Texas + Pennsylvania Data Center Rules https://www.reuters.com/legal/government/pennsylvania-governor-signs-order-imposing-new-rules-set-up-ai-data-centers-2026-08-18/ ; https://www.reuters.com/business/energy/texas-governor-orders-pause-new-data-center-approvals-pending-audit-2026-08-04/ Micron Boise Investment https://www.cnbc.com/2026/08/20/micron-boise-chip-fab-expansion.html The Flip FOR: https://www.wsj.com/tech/nvidia-downsizes-plans-for-250-billion-guarantee-of-openai-data-center-b56c38d3 AGAINST: https://www.cnbc.com/2026/08/10/nvidia-wall-street-asset-managers-500-billion-ai-push.html Bulls and Bears Micron ($MU)  https://finance.yahoo.com/markets/stocks/articles/micron-reclaims-1-000-amid-015952797 Analog Devices ($ADI) https://investor.analog.com/news-releases/news-release-details/analog-devices-reports-record-fiscal-third-quarter-2026  

This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.volts.wtf/subscribeWhen it comes to innovative new grid technologies, every utility wants to be the third in line to try them. None of them want to be the first to take risks and iron out new processes. That's one reason grid-enhancing technologies, better software, and smarter internal procedures stay stuck in pilot purgatory, even as the industry faces the biggest buildout since rural electrification. PG&E's Quinn Nakayama and Microsoft's Hanna Grene discuss what's actually blocking utility innovation — and Quinn offers a novel proposal for paying someone to go first.Chapters:00:00 – Introduction03:44 – Why grid-enhancing technologies stall in the US07:54 – Selling grid software into utilities: what goes wrong11:08 – From a pipes-and-wires company to a technology company12:38 – Pilot program hell and the last 30 percent15:04 – Innovation as a bolt-on, and the three muscles17:47 – The digital spine, data quality, and smart meters23:56 – Org chart versus work chart25:09 – Strategy, structure, people, process, technology29:24 – Build, buy, and the ecosystem skill set36:15 – Data leakage, shadow AI, and paying twice41:12 – Why utility product cycles run five to seven years46:27 – Human in the loop, and EPRI's SAFERai.power49:06 – Advanced market commitments and the kingmaker problem53:22 – EPIC, and whether software counts as infrastructure01:00:05 – The CapEx incentive problem and final advice1:04:34 – Digital Infrastructure as Capital Spend1:06:53 – Final Advice

Book a call: https://remnantfinance.com/calendarEmail us at info@remnantfinance.com or visit https://remnantfinance.com for more informationFOLLOW REMNANT FINANCEYoutube: @RemnantFinance (https://www.youtube.com/@RemnantFinance)Facebook: @remnantfinance (https://www.facebook.com/profile.php?id=61560694316588)Twitter: @remnantfinance (https://x.com/remnantfinance)TikTok: @RemnantFinanceDon't forget to hit LIKE and SUBSCRIBEHans opens this episode with a correction to the original recording, the SECURE 2.0 Act dropped that penalty from 50 percent to 25 percent, and then makes the case that the only incentive that explains the rule at all is that they do not want you leaving it to your children.From there, a macro roundup on the three stories driving the tape right now: the 30-year Treasury clearing above 5.3 percent for the first time since 2007, oil sitting stubbornly in the eighties while the Strategic Petroleum Reserve hits its lowest level since 1982, and the Fed holding its range at 3.5 to 3.75 while the betting markets start pricing a hike rather than a cut. Then a replay of what was, for most of this show's run, its most popular episode. Hans and Brian take apart the conventional financial planning model, starting with the assumption buried underneath all of it: that anyone can predict the future. When you retire, what taxes will be, what inflation does, how long you live, how the market performs. Every one of those has to break your way for the plan to work. Only one has to break against you for it to fall apart.Chapters 00:00 – Opening segment 01:05 – Why part two of the interest rate breakdown is delayed a week 04:55 – Correction: SECURE 2.0 took the RMD penalty from 50 percent to 25 percent 06:45 – The one piece of the tax code Hans cannot steel man 07:00 – How the two gates work: 59 and a half, then 73 08:15 – Reducing the penalty to 10 percent, and why the barrier never really left 10:20 – Tax on the seed versus tax on the harvest 11:55 – Macro roundup: how a Treasury auction actually clears 14:05 – The 30-year breaks 5.3 percent, highest since 2007 14:55 – Heavy federal issuance and the approaching 40 trillion mark 15:50 – AI data center CapEx enters the rate story 16:35 – Three straight down sessions in the S&P 17:00 – Oil, Hormuz, and the lowest SPR level since 1982 20:20 – Why "cooling inflation" is still inflation 22:10 – Replay begins: the airline gig and stop being a passenger 25:50 – What the institutions want, and the four things they are optimizing for 26:40 – Pond money versus river money 27:45 – The blackjack cheat sheet the dealer hands you for free 28:50 – The conventional model in one paragraph 30:50 – Where did 65 come from, and why is it a goal at all 32:25 – The Social Security incentive trap 33:35 – The generation that struck gold on the timeline of history 36:10 – Asset price inflation is not value creation 37:10 – A proposal: let our generation take the hit 40:40 – On spending it all and leaving nothing behind 44:15 – The Waiting List, and what you would actually trade for your children 48:55 – Back to the model: predict the future 50:20 – What will tax rates be in thirty years 53:40 – If taxes double, does your plan survive 53:55 – The family budget slide and what it actually is 59:35 – 1988 prices and the case against linear inflation 1:02:50 – How long will you live, and the barrel of water on the island 1:05:35 – Market performance as a load-bearing assumption 1:06:45 – Closing segmentKey TakeawaysThe conventional plan is a stack of predictions dressed as a strategy. When you retire, what tax brackets look like decades out, what inflation does to the cost of a car or a house, how long you live, and what the market returns over the accumulation window.

Growth stocks underperforming value have treasury yields to blame, says Gina Martin Adams. She points to debt, both national and through hyperscaler CapEx, as a key factor as businesses race to stay ahead in the AI race. ======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

Microsoft (MSFT) is back to being a magnificent Mag 7 stock after earnings. David Wagner is very bullish on the stock's upward momentum due to its diversified business model through Azure cloud and Office suite working in tandem with each other to maximize profits. While some critique Microsoft's AI models, David believes the size of the company's moat allows it to connect those models much more efficiently. He adds that CapEx will continue to drive the narrative that has revenue to back it up. ======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

Poland has cut coal's share of power generation from 95% to roughly 55% in a decade, with renewables generating over 30% of the country's power last year. That mismatch is already producing negative prices and turning battery storage into one of the country's biggest investment opportunities.Ed is joined by Tomasz Sęk, Founder and COO of R.Power Renewables, which holds a 1.7GW / 6.3GWh capacity-market-secured storage portfolio, one of the largest in Poland, to unpack how the country's power market is transforming.They cover:- Why coal's inflexibility, not its shrinking market share, is now Poland's biggest driver of negative prices and battery arbitrage.- How Poland's capacity market is evolving as de-rating factors and CapEx fall together, and what that means for the next wave of battery investment.- Why R.Power blends floor-plus-profit-share deals — including its new Axpo agreement — with full-toll contracts to balance risk and upside- How solar PPAs are evolving into Hybrid PPAs, as corporates like Amazon and Cisco look for more flexible, peak-shifted power- How R.Power plans to bring its 1.7GW / 6.3GWh capacity-market-secured portfolio online within 18–24 months, and what's setting the paceWant to go deeper on the Polish power market? Ask Ko, Modo Energy's AI analyst, for the latest on Polish battery revenues, capacity market results, and grid dynamics.Transcript available hereChapters: 0:00 Introduction 1:08 Poland's Coal-to-Renewables Shift 1:57 Perception vs Reality of Poland's Energy Mix 4:52 Negative Prices and Coal's Inflexibility 5:58 Gas Peakers vs Battery Storage 7:45 Poland's Vertically Integrated Power Market 8:46 Day-Ahead vs Intraday Trading in Poland 9:54 Choosing a Route-to-Market Partner 12:06 Capacity Market Explained 13:21 R.Power's 1.7GW / 6.3GWh Portfolio 13:57 De-Rating Factors and Falling CapEx 17:00 Dunkelflaute and the Case for Gas 17:21 The Axpo Deal: Floor Plus Profit Share 19:51 Solar PPAs and the Rise of Hybrid PPAs 20:26 Multi-Technology PPAs and Peak Shifting 22:00 What's Slowing Poland's BESS Rollout 23:46 Poland's Grid Queue vs Texas and China 24:51 One Regulatory Fix: Faster Auctions 26:50 Poland's Cost Advantage

Poland has cut coal's share of power generation from 95% to roughly 55% in a decade, with renewables generating over 30% of the country's power last year. That mismatch is already producing negative prices and turning battery storage into one of the country's biggest investment opportunities.Ed is joined by Tomasz Sęk, Founder and COO of R.Power Renewables, which holds a 1.7GW / 6.3GWh capacity-market-secured storage portfolio, one of the largest in Poland, to unpack how the country's power market is transforming.They cover:- Why coal's inflexibility, not its shrinking market share, is now Poland's biggest driver of negative prices and battery arbitrage.- How Poland's capacity market is evolving as de-rating factors and CapEx fall together, and what that means for the next wave of battery investment.- Why R.Power blends floor-plus-profit-share deals — including its new Axpo agreement — with full-toll contracts to balance risk and upside- How solar PPAs are evolving into Hybrid PPAs, as corporates like Amazon and Cisco look for more flexible, peak-shifted power- How R.Power plans to bring its 1.7GW / 6.3GWh capacity-market-secured portfolio online within 18–24 months, and what's setting the paceWant to go deeper on the Polish power market? Ask Ko, Modo Energy's AI analyst, for the latest on Polish battery revenues, capacity market results, and grid dynamics: https://modoenergy.com/product/ko?utm_source=podcast&utm_medium=podcast_apps&utm_campaign=tomasz_sek&utm_content=ko_signupChapters: 0:00 Introduction 1:08 Poland's Coal-to-Renewables Shift 1:57 Perception vs Reality of Poland's Energy Mix 4:52 Negative Prices and Coal's Inflexibility 5:58 Gas Peakers vs Battery Storage 7:45 Poland's Vertically Integrated Power Market 8:46 Day-Ahead vs Intraday Trading in Poland 9:54 Choosing a Route-to-Market Partner 12:06 Capacity Market Explained 13:21 R.Power's 1.7GW / 6.3GWh Portfolio 13:57 De-Rating Factors and Falling CapEx 17:00 Dunkelflaute and the Case for Gas 17:21 The Axpo Deal: Floor Plus Profit Share 19:51 Solar PPAs and the Rise of Hybrid PPAs 20:26 Multi-Technology PPAs and Peak Shifting 22:00 What's Slowing Poland's BESS Rollout 23:46 Poland's Grid Queue vs Texas and China 24:51 One Regulatory Fix: Faster Auctions 26:50 Poland's Cost Advantage

Hank Crawford of Blue Collar Robotics and Paul Harker, retired CCO of Woolworths Group, on grocery store robotics a retailer can deploy today.There are 280,000 people walking the aisles of US grocery stores right now picking somebody else's order, and grocers cannot hire fast enough to keep up with the growth. That number comes from Hank Crawford, Co-Founder and CEO of Blue Collar Robotics, and it frames the whole conversation. Online grocery keeps growing. Labor keeps getting harder to find. And the two big swings the industry took at eGrocery fulfillment, the centralized fulfillment center and the micro fulfillment center, both left grocers with high CapEx, duplicated inventory, and people still picking most of the order. Hank is joined by Paul Harker, retired Chief Commercial Officer of Woolworths Group, Australia's largest retailer, who joined Blue Collar Robotics as a strategic advisor. Together with Ricardo Belmar and Casey Golden they work through the economics of eGrocery fulfillment from the operator's side of the table: why the warehouse answer collapsed, what grocery store robotics has been getting wrong, and why a purpose-built robot with a remote operator behind it can drop into a supermarket that already exists. The mechanism is the interesting part. Blue Collar Robotics sells the picking as a service. A grocer pays a cost per pick, which moves the spend from CapEx into OpEx. The robot handles packaged center-aisle goods using vacuum suction, which is roughly 65% of a typical order, and store associates get redeployed to fresh, where care actually shows up in the customer's bag. Blue Collar reports eGrocery fulfillment cost reductions of as much as 50%. This is Season 6, Episode 10.In This Episode, You'll Learn•       Why centralized fulfillment centers failed for grocery on four separate counts: volume density, distance from the customer, fresh, and CapEx•       What Paul Harker says micro fulfillment centers still cannot solve, including duplicated inventory and picking "the uglies"•       Why over 80% of a grocer's business is still the in-store customer, and how eGrocery growth quietly degrades that experience•       The case for a human behind every robot, and why it is now standard practice for anything operating in an unstructured environment•       What robot etiquette means in a store aisle, and what China's hotel delivery robots taught Hank about how not to do it•       How the grocery store robotics buying conversation changes when the customer has no robotics team of its own•       Why grocery store robotics took this long to find product-market fit in a supermarket, and what changed•       Why the labor argument runs backwards here: there is no line of people waiting for picking jobs•       How remote operation opens picking work to people who could never physically do it, and opens a 24 hour picking clock for the store•       What Hank says is actually slowing adoption, and it is not the technologySupport our sponsorsThis Episode is Brought to You By RetailClub.Retail and brand leaders can attend RetailClub AI Festival completely budget-free, plus get $1,750 toward travel and hotel. From the founders of Shoptalk and Groceryshop, it's three days fully outdoors in Huntington Beach, September 22 to 24, with 2,000 senior leaders working through how AI is transforming retail. If you're shaping AI's future in retail, budget shouldn't be why you miss it. Register by August 28 at retailclub.com/retail-razor-podcast.Subscribe & FollowHow much did you love this episode? Drop us a 5‑star rating and review on Apple Podcasts, Spotify, or Goodpods. Subscribe on YouTube so you never miss an episode and check out the other shows in the Retail Razor Podcast Network: Retail Transformers, Blade to Greatness, and Data Blades.Subscribe to the Retail Razor Podcast Network: https://retailrazor.com/Subscribe to our Newsletter: https://retailrazor.substack.comSubscribe to our YouTube channel: https://go.retailrazor.com/utubeFeatured guestsHank Crawford. https://www.linkedin.com/in/hank-crawford-a4a9755/Co-Founder & CEO of Blue Collar Robotics. https://bluecollarrobotics.aiHank Crawford is Co-Founder & CEO of Blue Collar Robotics, where he leads the company's mission to make in-store grocery picking affordable for retailers through purpose-built robots delivered as a service, pairing AI-driven autonomy with human-assisted teleoperation. A technology entrepreneur and commercial leader with more than 35 years of experience in advanced composites, global manufacturing, and robotics, Crawford has founded companies in the United States and China including PURE Material Science, a Guangzhou-based pioneer of continuous fiber-reinforced thermoplastic composites and has helped scale advanced technology businesses in senior engineering and commercial roles at Performance Materials Corporation (acquired by Toray), Daimler Trucks in both North America and China, TRB Lightweight Structures, and Avient. He holds multiple patents in composite materials and manufacturing.Paul Harker. https://www.linkedin.com/in/paul-s-harker/Retired Chief Commercial Officer, Woolworths Group. Strategic Advisor. Blue Collar Robotics.Paul Harker has more than three decades of senior leadership experience across Australia's retail and FMCG sectors, including 33 years with Woolworths Group. Most recently, Paul served as Chief Commercial Officer for Woolworths Group, where he was accountable for the $51 billion Australian Food commercial portfolio. In this role, he oversaw commercial practices across more than 1,000 stores and helped lead large-scale enterprise transformation initiatives, including the modernization of digital systems and the integration of data-led analytics across complex supply chain networks. Paul's earlier executive roles at Woolworths included leadership across Replenishment, Supply Chain, and Store Operations, giving him a broad understanding of the full retail operating model – from store execution to enterprise-level commercial strategy.Chapters00:00 Teaser 00:48 Show Intro 05:34 Welcome Hank and Paul! 06:37 Why Warehouses Failed 09:02 Store Picking Tensions 10:28 Amazon Threat Reality 14:47 Robotics Hype vs Reality 16:34 Human in the Loop 18:34 Blue Collar Robotics Intro 19:46 Service Model Economics 22:35 How Store Deployment Works 25:48 Comparing Other Models 30:50 Automation and Jobs 32:35 Scaling Labor With Robots 33:43 24 Hour Store Operations 35:09 Accuracy And Quality Standards 36:48 AI Regulation And Safety 40:18 Robot Etiquette In Aisles 41:36 China Robotics Lessons 45:19 Selling To Risk Averse Grocers 49:36 Five Year Outlook And Jobs 52:19 Wrap Up And Where To Learn More 53:40 Show CloseMeet your hostsHelping you cut through the clutter in retail & retail tech:Ricardo Belmar is an NRF Top Retail Voice for 2025 and a RETHINK Retail Top Retail Expert from 2021 – 2026. Thinkers 360 has named him a Top 10 Thought Leader in Retail, a Top 25 Thought Leader in AGI and Careers, a Top 50 Thought Leader in Agentic AIand Management, and a Top 100 Thought Leader in Digital Transformation and Transformation. Thinkers 360 also named him a Top Digital Voice for 2024 and 2025. He is an advisory council member at George Mason University's Center for Retail Transformationand the Retail Cloud Alliance. He was most recently the partner marketing leader for retail & consumer goods in the Americas at Microsoft.Casey Golden, is the North America Leader for Retail & Consumer Goods at CI&T, and CEO of Luxlock. She is a RETHINK Retail Top Retail Expert from 2023 - 2026, and Retail Cloud Alliance advisory council member. After a career on the fashion and supply chain technology side of the business, Casey is obsessed with the customer relationship between the brand and the consumer and is slaying franken-stacks and building retail tech! MusicIncludes music provided by imunobeats.com, featuring Overclocked, and E-Motive from the album Beat Hype, written by Heston Mimms, published by Imuno.

Most real estate investors evaluate deals. Ben Kahle evaluates the people running them. As CEO and Managing Partner of Wellings Capital, a private equity firm with more than $500 million in assets under management, Ben has spent 11 years building a rigorous operator due diligence process that puts people above property. In this episode, he breaks down how Wellings vets commercial real estate sponsors, what their 28-step due diligence process actually looks for, and where investors consistently misjudge risk by focusing on the asset instead of the operator behind it. About Ben Kahle Ben Kahle is the CEO and Managing Partner of Wellings Capital, a private equity firm with more than $500 million in assets under management and over $225 million in investor equity across 1,100+ investors. He joined the firm as a $12-an-hour intern in 2015, became a partner in 2019, and now leads the company's investment strategy and operator due diligence process. Wellings invests as a joint venture equity provider in multifamily, mobile home parks, self-storage, and industrial assets, with a minimum check size of $4 to $5 million per deal. What We Cover in This Episode Why Wellings Capital thinks of itself as a people business, not a real estate business The core investing principle: a great operator in a mediocre market beats a mediocre operator in a great market How Wellings uses a 28-step due diligence process to evaluate commercial real estate sponsors What incentive structures for onsite managers and asset managers reveal about operator quality Why track record analysis requires cycle context, not just raw performance numbers How Wellings verifies operator financial strength using personal financial statements, tax returns, and Trepp Why Wellings shifted from LP investing to joint venture equity provider three years ago The control rights Wellings negotiates: forced sales, manager removal, and CapEx draw control The 80/20 (or 90/10) reality of deal and sponsor quality in today's market The "death by Google" screening method for surfacing sponsor red flags fast The cockroach test: why one visible problem usually means more you cannot see Third-party resources for investor due diligence: Invest Clearly, 506 Group, Private Investor Club How Ben's team is using AI to analyze deals and run due diligence workflows Key Insight Ben Kahle draws a line most investors never make explicit: he would rather put capital into a mediocre deal in a mediocre market with a great operator than into an outstanding property with a mediocre one. That conviction runs all the way down to the onsite property manager's bonus structure. Wellings wants to see incentives tied directly to NOI, occupancy, and collections before they commit a dollar. After reviewing more than 1,100 deals in a single year, Ben says operator quality is the variable that explains most of the outcomes, good and bad. Why This Episode Matters If you are placing capital with a sponsor or evaluating any deal led by someone else, this episode gives you a concrete framework for what to look for and what to walk away from. Ben covers the process, the red flags, and the specific tools he uses in plain terms that any investor can apply regardless of check size. Find Out More Website: https://www.wellingscapital.com Free resources on mobile home parks and self-storage: https://www.wellingscapital.com/resources Sponsors Today's episode is brought to you by Green Property Management, managing everything from single family homes to apartment complexes in the West Michigan area. https://www.livegreenlocal.com And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and Medicare benefits. https://www.rcbassociatesllc.com

Qwen is the story of Alibaba's (BABA) growth, says Dave Nicholson of Futurum. He adds that it raises "huge price pressure" concerns for Alphabet (GOOGL) and Meta Platforms (META) as Alibaba's model threatens to take more market share. Dave examines some of the other biggest names in Chinese tech, including Baidu (BIDU), as investors express concerns of increased CapEx and shrinking ad revenue. He then turns to JD.com (JD) as a more "traditional" company. ======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

Tim Nyland offers his bearish and bullish thoughts for the back half of 2026 on expectations that the Fed will hold interest rates. He considers the broadening price action across Wall Street healthy for stocks long-term as investors reconsider previous views on AI CapEx. Tim sees the Mag 7 as "very, very likely" to regain momentum in the coming months, especially Microsoft (MSFT) and Tesla (TSLA). ======== Schwab Network ========Empowering every investor and trader, every market day.Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about

The AI growth story remain intact but the other sectors of the economy need to catch up, says Garrett Melson. He points to corners of Wall Street he says have not seen as much growth as he expects. On the health of the consumer, he sees new headwinds from inflation and the job market creating new downside risks. Garrett brings the discussion full circle to AI and explains why he doesn't see CapEx slowing down and why it doesn't need to. ======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

In this episode, Emily Johnson, founder of Elevate Hospitality Collective; Erica Huss, creator of All Too Well; and Jen Veralle, founder of Mindful Drinking Movement and Sauna and Sobriety, share a practical approach to hotel wellness that doesn't start with a big CapEx budget.They explore why the guest room may be the most powerful wellness facility on a property, how a thoughtful non-alcoholic beverage program can create incremental revenue, and how guided sauna and community experiences can give guests restorative ways to connect without depending on alcohol.This is a practical look at building wellness into the complete guest journey using rooms, F&B programs, existing spaces, and the knowledge already present within hotel teams. The conversation also examines how owners and operators can connect those choices to guest feedback, incremental spend, loyalty, and repeat business.Learn more about our guest experts:Elevate Hospitality CollectiveErica Huss and All Too WellJen VeralleWhy We Should Rethink Drinking Culture, Jen's TEDx talkSauna and SobrietyJen's writing about saunaRelated research and examples:RLA Global and HotStats 2026 Wellness Real Estate ReportHow a dedicated NA menu changed beverage sales at Four Seasons Hotel Philadelphia A few more resources:If you're new to Hospitality Daily, start here. You can send me a message here with questions, comments, or guest suggestionsIf you want to get my summary and actionable insights from each episode delivered to your inbox each day, subscribe here for free.Follow Hospitality Daily and join the conversation on YouTube, LinkedIn, and Instagram.If you want to advertise on Hospitality Daily, here are the ways we can work together.If you found this episode interesting or helpful, send it to someone on your team so you can turn the ideas into action and benefit your business and the people you serve!Music for this show is produced by Clay Bassford of Bespoke Sound: Music Identity Design for Hospitality Brands

Checkout the WAWD Substack: https://whatarewedoingonthedesk.substack.com/ Dan Nathan welcomes Vincent Daniel, partner at Seawolf Capital and one of the investors who called the 2008 housing crash, for a deep dive into where markets stand heading into year-end. They break down new Fed chair nominee Kevin Warsh's "immaculate economy" problem, why passive fund flows are quietly the most powerful force in the market, and the hedge-fund blowup that briefly rattled the S&P. From there, Dan and Vincent get into the real meat of the episode: the new wave of GPU-backed financing deals from Nvidia, Apollo, and Blackstone, why Vincent thinks the AI trade is less a Ponzi scheme and more a "debt-infield CapEx initiative," and where the credit risk is really hiding. They also debate capital availability, return on invested capital, which software names survive the AI shakeout, and whether this all ends up looking more like the dot-com bust or the GFC. Plus: an unprompted case for why Vincent should be the next GM of the Mets. —FOLLOW USYouTube: @RiskReversalMediaInstagram: @riskreversalmediaTwitter: @RiskReversalLinkedIn: RiskReversal Media The financial opinions expressed in Risk Reversal content are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on Risk Reversal. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in Risk Reversal carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose. Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.

Click the link http://kalshi.com/r/MOSES or download the Kalshi App and use code MOSES to sign up and trade today! Checkout WAWD on Substack: https://whatarewedoingonthedesk.substack.com/OTT Sonali joins the podcast on the one-year anniversary of moving from Bloomberg to iCapital, discussing her media series “The Bridge” and iCapital's reach across wealth and asset managers. The conversation centers on AI economics, especially how declining token costs shift value along the “AI food chain,” with hyperscalers capturing a large share while software and enterprises benefit as costs fall, and with demand (Jevons paradox) potentially sustaining aggregate spend and CapEx. They address rising APAC innovation, why frontier labs pursue IPOs amid heavy cash burn and broad access to debt and equity, and the new NVIDIA-led $500B compute financing platform as Wall Street crowds into AI while investors struggle to diversify as infrastructure, power, and data centers converge. They discuss abundant 2026 liquidity that may tighten, oil's impact on consumers and second-half caution, hedge fund crowding and the situational awareness leverage unwind, valuation dispersion (semis vs financials/utilities), and rate risks including Treasury basis-trade leverage, a 10-year yield range of 4–4.8%, Japan's carry trade, and selective interest in Japan and parts of APAC for international exposure. -- ABOUT THE SHOW For decades, Danny has seen it all on Wall Street and has built his reputation on integrity, curiosity and skepticism that he will bring with him each week. Having traded through the Great Financial Crisis and being featured in "The Big Short" is only part of the experiences Danny wants to share with the listener. This weekly podcast cuts through market noise, offering entertaining and informative discussions with expert guests giving their views of the financial world and the human side of it. Whether you're a seasoned investor or just getting started, On The Tape provides something for all listeners. Follow Danny on X: @dmoses3 The financial opinions expressed are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on this content. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in 'On The Tape' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose. Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.

Nvidia, CoreWeave and Wall Street are pouring hundreds of billions of dollars into AI infrastructure. But how does the financial machine behind the AI boom actually work and where are the risks?In this episode of the Market Maker Podcast, Anthony Cheung and Piers Curran unpack CoreWeave's extraordinary growth and $100bn+ revenue backlog, Nvidia's role at the centre of the AI ecosystem, and the huge amounts of debt and private capital being used to finance data centres and GPUs.We explain what neoclouds are, why GPUs are increasingly being treated as infrastructure assets, and how firms including BlackRock, Blackstone, Apollo, Goldman Sachs and KKR are helping finance the AI buildout.But there's another side to the story. We explore the “circular financing” concerns surrounding Nvidia and its customers, the growing concentration risk across the AI industry, and what could happen if hyperscalers such as Microsoft, Alphabet, Amazon and Meta begin to slow their enormous AI spending.Finally, we look at the wider macro picture, including the latest US CPI inflation data, Federal Reserve interest rate expectations and why the AI boom itself is beginning to show up in inflation.Is this the financial infrastructure needed to power the next technological revolution or is too much money becoming dependent on the AI boom continuing?(00:00) The $1 Trillion AI Spending Boom(03:51) CoreWeave's Incredible Growth(04:58) The $104BN AI Order Book(08:35) What Is a Neocloud?(11:18) The Huge Cost of AI Infrastructure(16:13) Nvidia's $500BN Wall Street Deal(17:53) How GPUs Became an Asset Class(21:14) Was Michael Burry Wrong on AI?(24:50) How Wall Street Finances AI(27:12) The AI Circular Financing Risk(33:34) Nvidia's Biggest Concentration Risk(37:18) Can the AI Spending Boom Continue?(38:50) How to Invest Beyond Big Tech(40:12) The Next Trillion-Dollar AI Company?(44:30) AI Boom or House of Cards?(45:06) US Inflation Falls Again(47:05) Will the Fed Hike in September?(49:27) What to Expect From Jackson Hole

In this Dialogue episode of The Synopsis we provide an update on Meta!    ~*~ You can also get a free trial to AlphaSense to read 200k+ expert calls through this link.  ~*~ For full access to all of our updates and in-depth research reports become a Speedwell Member here. Please reach out to info@speedwellresearch.com if you need help getting us to become an approved research vendor in order to expense it. -*-*-*-*-*-*-*-*-*-*-*-*-*-*- Show Notes (0:00)  — The Synopsis is Coming to YouTube! (3:01)  — Meta Update (13:34)  — Meta's 6 Call Options (24:12)  — Meta Compute (30:18)  — Meta AI (33:16)  — Does Meta Need a Frontier Model? (39:41)  — Litigation Risk -*-*-*-*-*-*-*-*-*-*-*-*-*-*- For full access to all of our updates and in-depth research reports, become a Speedwell Member here. Please reach out to info@speedwellresearch.com if you need help getting us to become an approved research vendor in order to expense it. *-*-*- Follow Us: Twitter: @Speedwell_LLC Threads: @speedwell_research Email us at info@speedwellresearch.com for any questions, comments, or feedback. -*-*-*-*-*-*-*-*-*-*- Disclaimer Nothing in this podcast is investment advice nor should be construed as such. Contributors to the podcast may own securities discussed. Furthermore, accounts contributors advise on may also have positions in companies discussed. This may change without notice. Please see Speedwell's and Drew Cohen Money's full disclaimers here:  https://speedwellresearch.com/disclaimer/ https://www.drewcohenmoney.com/disclaimers 

Sara Awad from Tech Contrarians talks tech's tough year (0:40) Great results being viewed as not good enough (3:20) Semiconductors have more downside, but potential remains (6:50) Memory dynamics (8:40) Thinking about 2027 (14:50) ASIC shift favors ARM (19:45) Are we in a bubble? (23:30)Show Notes:Is The Market Wrong On SpaceX? TheTechTalk Podcast Ep. 1Fundamentals Over EverythingThe Cure For FOMO With Tech ContrariansEpisode transcriptsFor full access to analyst ratings, stock quant scores and dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions

Tiffany McGhee believes markets are currently in a good spot with earnings strength and policy changes offering reprieve from volatility. She likes the AI "picks and shovels" stocks she sees offering real returns from CapEx. Microsoft (MSFT) is one name Tiffany points to as Azure cloud growth shows no sign of slowing down. She also considers Caterpillar (CAT) and Schneider Electric strong companies tied to AI infrastructure.======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

Bitcoin lleva un año 50% abajo de sus máximos y todo el mundo lo da por muerto: la inteligencia artificial se llevó el capital que antes iba a los activos digitales. En este episodio te explico por qué esa narrativa puede estar equivocada y qué tendría que pasar para que el ciclo se revierta. ──────────────

The U.S. jobs market is cooling — but mining has a very different labor problem: finding the right talent. Veteran geologist and mining expert Steven Enders joins Maggie Lake to explain why the quality of people and management teams can make or break a mining project — even as the industry faces enormous demand for critical minerals. Enders breaks down the looming copper supply gap, why new mines remain so difficult to build, where we may be in the commodity cycle, and why AI can help the mining industry — but won't solve its biggest problems. Plus: why he's skeptical of mining project forecasts, what investors should look for in management teams, and the warning signs that tell him a commodity cycle may be getting mature. Topics include: • U.S. jobs market and mining's talent challenge • Copper demand and the global supply gap • Mining stocks and commodity cycles • How to evaluate mining management teams • AI in mining and mineral exploration • Capex, opex and why mining projects run over budget • M&A and signs of a mature commodity cycle

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Andrew, Ben, and Tom discuss CoreWeave soaring 17% after raising its 2026 CapEx guidance to $35-39 billion and pushing through roughly 25% price increases across its GPU pricing tiers, extending the useful life of its chips and signing an A100 contract through 2029 despite the SKU launching in 2020, Trump reportedly weighing changes to capital gains taxes including exemptions for homes worth $2 million or less and indexing gains to inflation, a discussion of whether eliminating the corporate income tax and capital gains tax in favor of ordinary income treatment would be simpler and more pro-growth, and a New York State Supreme Court judge temporarily blocking Mayor Mamdani's pied-a-terre tax rollout after finding the city improperly shifted the burden of proving primary-residence exemptions onto property owners, with arguments set for August 31.Join our live YouTube stream Monday through Friday at 8:30 AM EST:http://www.youtube.com/@TheMorningMarketBriefingPlease see disclosures:https://www.narwhal.com/disclosure

Celebrating 200 episodes, Ryan Detrick, Chief Market Strategist at Carson Group, and Sonu Varghese, Chief Macro Strategist at Carson Group, take Facts vs Feelings on the road to Boston for a live show, joined by special guest Art Hogan, Chief Market Strategist at B. Riley Wealth.Art opens by explaining his opinion on why the market keeps climbing despite bubble fears and Fed uncertainty: Second-quarter earnings growth came in far above expectations, broadening out across all 11 S&P 500 sectors rather than staying concentrated in mega-cap tech. That broadening, he argues, is why the equal-weight S&P 500 and the Russell 2000 are outpacing the market-cap-weighted index this year.The conversation moves to the Fed, where new Chair Kevin Warsh's terser, less transparent communication style rattled markets around his last two meetings. Sonu and Art debate whether AI should be viewed as an inflationary force, adding "workers" to the economy rather than acting as the historically disinflationary technology wave investors expect. They also dig into hyperscaler CapEx, rising CDS spreads on tech debt, and why Art thinks the field of dominant AI players will eventually narrow.Art also makes the case against comparing today's AI buildout to the dot-com bubble, citing real business models versus the 2,600 companies that went public between 1995 and 2000. Carson's Barry Gilbert, VP, Asset Allocation Strategist, joins to discuss how to actually invest in AI through a barbell approach, and the episode wraps with reflections on 200 episodes, gratitude for the team behind the podcast, and a toast with Art.Key TakeawaysQ2 2026 S&P 500 earnings growth beat expectations dramatically, with estimates that started around 13% rising above 23%, driving multiple compression from 23x to 19x forward earnings even as prices rose.For the first time in five quarters, all 11 S&P 500 sectors are showing significant earnings growth, with eight of 11 posting profit margin growth, explaining why the equal-weight index and Russell 2000 are outperforming the cap-weighted S&P 500.Fed Chair Kevin Warsh's less transparent communication style, including terse statements and non-committal press conferences, has unsettled markets around his last two meetings despite no actual policy surprises.NVIDIA is trading at a valuation multiple lower than the broader market despite 65-70% margins, reflecting investor uncertainty about whether AI mega-cap spending is near a cyclical peak.Small caps have returned roughly 21-22% year-to-date, with leadership shifting from unprofitable, speculative names early in the year to more profitable small caps as the market broadens out.Credit default swap spreads on hyperscaler debt are rising as investors reassess these companies from "capital-light, free-cash-flow-positive" to "capital-heavy, free-cash-flow-negative," with the market pricing in that only a handful of AI players will ultimately survive.Jump to:0:00 — Live From Boston for 2002:43 — Art Hogan Joins the Bar Talk3:06 — Earnings Growth Explains the Rally6:10 — Market Breadth and Nvidia Valuations9:02 — Pencils Down Origins and Rituals10:08 — Fed Communication and Inflation Anxiety13:40 — AI Spending Versus Productivity Payoff16:57 — Small Caps Benefit from Broadening19:50 — Hyperscalers Debt and Credit Skepticism23:41 — Timeless Advisor Advice Plus Bubble Myths27:31 — Why Profit Margins Keep Rising30:20 — How to Invest in AI Diversified35:52 — Contrarian Ideas International and Software39:39 — Gratitude Growth and a Carson Invite43:15 — Final Toast with Art HoganConnect with Ryan:• LinkedIn: https://www.linkedin.com/in/ryandetrick/• X: https://x.com/RyanDetrickConnect with Sonu:• LinkedIn: https://www.linkedin.com/in/sonu-varghese-phd/• X: https://x.com/sonusvarghese?lang=enQuestions about the show? We'd love to hear from you! factsvsfeelings@carsongroup.com

Click the link http://kalshi.com/r/MOSES or download the Kalshi App and use code MOSES to sign up and trade today!Checkout WAWD on Substack: https://whatarewedoingonthedesk.substack.com/OTTSonali joins the podcast on the one-year anniversary of moving from Bloomberg to iCapital, discussing her media series “The Bridge” and iCapital's reach across wealth and asset managers. The conversation centers on AI economics, especially how declining token costs shift value along the “AI food chain,” with hyperscalers capturing a large share while software and enterprises benefit as costs fall, and with demand (Jevons paradox) potentially sustaining aggregate spend and CapEx. They address rising APAC innovation, why frontier labs pursue IPOs amid heavy cash burn and broad access to debt and equity, and the new NVIDIA-led $500B compute financing platform as Wall Street crowds into AI while investors struggle to diversify as infrastructure, power, and data centers converge. They discuss abundant 2026 liquidity that may tighten, oil's impact on consumers and second-half caution, hedge fund crowding and the situational awareness leverage unwind, valuation dispersion (semis vs financials/utilities), and rate risks including Treasury basis-trade leverage, a 10-year yield range of 4–4.8%, Japan's carry trade, and selective interest in Japan and parts of APAC for international exposure.--ABOUT THE SHOWFor decades, Danny has seen it all on Wall Street and has built his reputation on integrity, curiosity and skepticism that he will bring with him each week. Having traded through the Great Financial Crisis and being featured in "The Big Short" is only part of the experiences Danny wants to share with the listener. This weekly podcast cuts through market noise, offering entertaining and informative discussions with expert guests giving their views of the financial world and the human side of it. Whether you're a seasoned investor or just getting started, On The Tape provides something for all listeners.Follow Danny on X: @dmoses34The financial opinions expressed are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on this content.Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in 'On The Tape' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose.Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service. Hosted on Acast. See acast.com/privacy for more information.

Richard McGirr is the co-founder of Property Llama and Property Llama Capital, an income focused fund of funds sponsor that helps accredited investors turn underperforming real estate equity into passively managed, cash flowing investments. He also hosts Unlimited Capital on the Best Ever CRE network, where he covers capital raising, fund operations, and the business of building investment platforms. A lifelong entrepreneur, Richard started his first company in college and later spent eight years in China building a software engineering services firm to more than 85 employees. Wanting assets that worked for him instead of headcount, he moved into single family rentals and eventually partnered with Chris Lopez to launch Property Llama. Today his firm invests exclusively in debt funds, using a fund of funds structure to convert idle equity into contractual monthly income. Richard McGirr joins John to explain why so many long-term single family landlords are sitting on millions in equity while earning almost nothing in cash flow. Using data from roughly 6,000 rentals inside the Property Llama platform, where the average return is negative 1% cash on cash, Richard breaks down how a decade of appreciation and debt paydown quietly eroded return on equity. From there, the conversation turns to debt funds. Richard explains how hard money lending to flippers works, why six month loan terms and LTV cushions change the risk profile, and where the real danger sits. He also walks through the fund of funds structure behind Property Llama Capital, the fee discount he negotiated by committing scale, and the operational audit he runs on any lender before placing a dollar with them.     Make sure to download our free guide, 7 Questions Every Passive Investor Should Ask, here.     Key Takeaways  Re-underwrite your rentals at today's values, not your purchase price  Track return on equity, not just cash flow, as debt gets paid down  Debt funds pay contractual cash flow from day one, backed by an LTV cushion  Shorter loan terms shrink the window for things to go wrong  Fraud, not default, is the risk that wipes out lenders  Diversify across a loan pool instead of funding one deal at a time     Topics From Software Founder to Real Estate Investor  Built a software engineering services firm in China to over 85 employees  Left a headcount driven business in search of cash flowing assets  Partnered with Chris Lopez by adding value to an already established operator Why the Average Single Family Rental Returns Negative 1%  Roughly 6,000 rentals in the Property Llama system average negative 1% cash on cash  Rents are flat or falling while insurance, vacancy, and CapEx climb  Richard's own Colorado Springs rent fell about 30% after a supply wave The Return on Equity Problem  The education industry teaches investors how to buy, not how to reassess what they own  A property bought at a 7 cap can become a 3.5 cap when values outpace rents  80% LTV becomes 20% LTV, and returns slide from the high teens into single digits The Equity Rich, Income Poor Landlord  Typical client holds 3 to 8 rentals with several million in equity near retirement  Most target $10,000 to $20,000 a month and sit closer to $3,000  Cash out refinances no longer close the gap at current rates Debt Funds 101  A pool of performing loans secured by title on real property  Hard money lenders fund flippers who need high LTV and five day closings  Fully loaded returns run 15% to 18% including origination Why Hard Money Risk Is Structurally Lower  Six month terms limit what can go wrong versus a ten year horizon  A 25% LTV cushion rarely erodes inside six months  Single family homes are the easiest real estate asset to liquidate Fund Investing vs. Lending on Your Own  Private lending demands underwriting, fast closings, draw management, and workouts  A single Denver flip loan can require $1.3 million of capital  $100,000 into a fund buys a slice of 50 loans instead of one Lending Is a Real Operating Business  Lenders run origination, marketing, servicing, and accounting departments  On a 50 loan book, roughly 8% pays off every month and must be replaced  Richard's largest lender partner employs 40 people Building the Fund of Funds Model  Property Llama Capital launched asset light and headcount light by design  Raising capital for another sponsor's deal without a license is a serious violation  Committing $5 million earned a 30% fee discount, split evenly with LPs How Richard Audits a Lender  Request written credit box, servicing, and draw processes  Sample 20% of the loan tape and match a document to every step  Verify title at the county and confirm payoff wires in the bank account    

In this episode the hosts talk about a 30-year-old Maryland tent rental business generating over $1.25M in annual EBITDA, debating whether its remarkable stability outweighs the risks of seasonality, asset maintenance, and a premium asking price.Business Listing – https://www.bizbuysell.com/business-opportunity/special-events-tent-rental-company-highly-profitable/2526933/Welcome to Acquisitions Anonymous – the #1 podcast for small business M&A. Every week, we break down businesses for sale and talk about buying, operating, and growing them.Looking to build a professional website in minutes? Try Wix: https://wix.pxf.io/c/6898629/3115214/25616?trafcat=templateHubSpot is the backbone for how businesses scale without chaos. Try them out here: https://go.try-hubspot.com/OeG9VrSubscribe for more episodes: https://www.youtube.com/@AcquisitionsAnonymousPodcast?sub_confirmation=1Subscribe to our Newsletter: https://www.acquanon.com/newsletter

CoreWeave (CRWV) "will have to beat expectations by a lot" to show they can compete with other companies emphasizing AI compute, argues Brian Mulberry. He sees the company's backlog and revenue growth as a huge plus but the "inside out" CapEx approach as one that remains shaky. Brian turns to CoreWeave's key competitor in Nebius (NBIS) and highlights its "full stack" approach as more capital-aware. ======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

In today's Cloud Wars Minute, I analyze the extraordinary RPO growth at Microsoft, Oracle, Google Cloud, and AWS and what it signals about AI demand. Highlights 00:03 — We've got another example here where, in the greatest growth market the world has ever known, we are working with some big numbers that put the law of big numbers to the test here. So, if you look at the four hyperscalers, and I go in order of the size of their backlog or RPO, you've got Microsoft, Oracle, Google Cloud, and AWS. 00:29 — So this is fully committed business. It's fully contracted and not yet recognized as revenue. So this is what's coming down the road, to look into the pipeline, in the future, these companies have — this isn't some guesstimate of what they hope they'll get. This is signed, contracted business. So this is one of the factors, probably the key factor, behind why you see these CapEx numbers approaching or exceeding $200 billion. 01:09 — Now that has led to a couple of these companies entering into the debt markets to try to fund this data center expansion and all that enormous CapEx outlay that they've got to go through. In turn, a couple of these companies for a quarter or two had negative cash flows, and that's got some people on Wall Street unable to comprehend it. The world's coming to an end. What are we going to do? 01:46 — I think the perspective is being switched here, right? Traditionally, the idea is bad. You don't want to have negative cash flow. Okay, that's pretty basic. I think we got that. The difference is there have never been a market with a size, a total addressable market , anything like this, growing at the rate this is. Look at these latest numbers for the four hyperscalers. 02:23 — Oracle, off a much smaller revenue base, has this huge future business coming in: $638 billion in RPO, growing at 363%. Google Cloud had a huge jump this past Q2, $514 billion in backlog, up 390%, and a resurgent AWS posted its biggest backlog number ever, $496 billion, and I believe that growth rate of 154% for its backlog is much higher than any they've reported over the last five or six quarters. 04:07 — So I think it's significant, but I also think it's being vastly overblown. I just want to say one more time: $2.3 trillion. Now, that's not like a TAM figure. Somebody's saying, "Oh, we think the market for new scooters is going to be $2.3 trillion." These are four companies, just four , not the whole tech industry, and these are their signed, contracted, committed figures for what they've got in their backlog or RPO. Visit Cloud Wars for more.

Four companies reported. Three of them are paying more to grow.UPS did $22.8 billion in the second quarter, up 7.6%, raised full-year guidance, and watched the stock fall 6%. The model right now is charging more for fewer packages, and domestic operating profit took transformation charges on the way through.PayPal put up $8.68 billion, up 5%. Volume keeps climbing. Take rate and operating margin keep sliding. Buybacks are doing the work of holding EPS flat.Amazon hit a record $200.6 billion quarter with strong AWS growth, though part of the earnings line came from a paper remeasurement on its Anthropic stake rather than from operations. Capex is going up again, and it is going into AI capacity.Shopify grew 34% to $3.58 billion and spent much of the call on AI. Management says AI-driven orders tripled year over year. Management did not say what that is worth in dollars.The Watson Weekly is sponsored by Avalara. Learn more at avalara.watsonweekly.comThen the Investor Minute: Poshmark, Procter & Gamble buying Thorne, Domo going to Progress Software, Calilmacus, and King Kullen finding a buyer on Long Island.#watsonweekly #paypal #ups #shopify #amazon

Behind the headlines about skyrocketing revenues and AI investments, the actual costs and future risks for Microsoft, Google, and Amazon are shrouded in strategic accounting moves. Plus, Paul finished rewriting and adding new chapters to the Windows 11 Field Guide - mostly just clean-up now, and then whatever new monthly features. Lastly, The Document Foundation issues a friendly reminder about the Office 2021 EOL and how that never happens with their software Microsoft earnings Microsoft earnings up 18 percent to $90 billion Analysis: Microsoft finds a new way to not account for AI costs Windows Pavan Davuluri says he's "energized" about what's happening to Windows in 2026. OK. But what's really happened so far? When will the biggest changes land? And when, if ever, will you address the real enshittification in Windows 11? Windows Insider Program: Five new builds - New Taskbar comes to Beta channel This leads to questions of timing, and here, WIP is not all that transparent still Another antitrust win: Apple to allow Copy and Paste between Windows and iPhone AMD revenues up 50 percent to $11.5 billion, but it's all AI datacenter Amazon: up 20 percent to $200 billion Apple: up 16 percent to $109 billion AI Satya Nadella mentions AI super app again, not clear why anyone cares about this Proton Lumo can do data visualization now Xbox and gaming Asha Sharma details the priorities for XBOX in the next year and number 5 will shock you XBOX console prices going up in the EU and UK Thanks, Caption Obvious: Yes, Backward Compatibility on PC will support Xbox 360 games too XBOX plans new FanFest tour dates - there's SO much to celebrate! Gears of War: E-Day leads the charge for new Game Pass titles in August XBOX Insiders is testing new console features XBOX app comes to Hisense and VIDDA TVs EA goes private for $55 billion in cash, but also some debt Sony has sold 95.3 million PS5s Sony responds to concerns about no more discs (with "pffffftttt") Tips and picks Tip of the week: It's done! App pick of the week: LibreOffice RunAs Radio this week: Ransomware Readiness with Heather Renze Brown liquor pick of the week: Frey Ranch Straight Bourbon Hosts: Leo Laporte, Paul Thurrott, and Richard Campbell Download or subscribe to Windows Weekly at https://twit.tv/shows/windows-weekly Check out Paul's blog at thurrott.com The Windows Weekly theme music is courtesy of Carl Franklin. Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free audio and video feeds, a members-only Discord, and exclusive content. Join today: https://twit.tv/clubtwit Sponsors: cirasync.com/Windows threatlocker.com/twit

On this episode of The Pirate Street Journal on Chistopher Lochhead: Follow Your Different, the trio tackled three major business stories that mainstream financial media fumbled. From Google’s record-breaking quarter to AI disrupting the legal industry and a historic merger of black-owned banks, the conversation offered a perspective that most financial journalists simply miss because they focus on companies rather than market categories. This is just one of the topics that Pirates Christopher Lochhead, Eddie Yoon and Bri Clark discuss on this episode of Pirate Street Journal. Each week, the Category Pirates pick three headlines worth paying attention to and break down the category underneath. You're listening to Christopher Lochhead: Follow Your Different. We are the real dialogue podcast for people with a different mind. So get your mind in a different place, and hey ho, let's go.   Google’s Negative Free Cash Flow Is Not the Story You Think It Is Google’s parent company, Alphabet, posted second-quarter revenue of $119.8 billion, up 24% year over year. Cloud revenue surged 82%, net income jumped nearly 300% to $112 billion, and the cloud backlog hit $514 billion. By nearly every rational business measure, this was a historic performance. Yet the stock fell because free cash flow turned negative for the first time in company history, prompting the Wall Street Journal to run a dramatic chart they called “Alphabet’s cash flow falling off a cliff.” What the Journal conveniently left out is that Alphabet is sitting on $242 billion in cash and marketable securities. The negative free cash flow is the direct result of Google doubling its capital expenditures to $44.9 billion in a single quarter, raising its full-year CapEx guidance past $200 billion. This is not a company bleeding out. This is a company making one of the largest strategic bets in the history of technology.   Google Is Quietly Achieving Something That Almost Never Happens For the first time in recent memory, Google Cloud’s incremental revenue growth in absolute dollar terms outpaced Google Search. Cloud added $11 billion in incremental revenue during the quarter while Search added $8.3 billion. Search is still a monster business, still growing, still one of the greatest category king positions ever built on the internet. But Cloud has crossed a threshold that very few people are talking about seriously enough. This is extraordinary because history shows that dominant category kings almost never successfully pioneer into a new category at scale. Google is refuting the Innovator’s Dilemma in real time, alongside Microsoft. Both companies are investing in AI infrastructure at a pace that reflects how massive the category potential truly is. The aggregate CapEx guidance for the Mag Seven this year sits between $700 and $750 billion, and that arms race exists because the stakes are unlike anything the technology industry has ever seen before.   Google’s Sleeper Advantage Could Define the Next Era of Consumer Technology Beyond the financial results, Google holds a strategic position that most analysts overlook entirely. The company that successfully builds a mega consumer AI agent, one that aggregates your email, calendar, messages, social activity, and daily life into a single intelligent interface, will own what Christopher calls the experience layer of AI. Google, with Gmail, Google Calendar, and its vast suite of personal productivity tools, is one of only two companies genuinely positioned to build that product. Apple is the other. What gives Google an additional edge that even Apple cannot easily replicate is YouTube. YouTube functions as the world’s largest knowledge repository, a platform where human expertise, creativity, and information accumulate at an unimaginable scale. The moment Google’s Gemini AI can perform deep inference learning on YouTube’s content library, the competitive moat becomes extraordinarily difficult to cross. Paired with the return of co-founder Sergey Brin and a CEO who appears to be operating in genuine partnership with the company’s founding vision, Google is not a company in decline. It is a company in transformation, and that is a very different thing entirely. To hear about all the topics in this week's The Pirate Street Journal, download and listen to this episode. You can also read more Pirate Street Journal entries in the Category Pirates newsletter.   We hope you enjoyed this episode of Christopher Lochhead: Follow Your Different™! Christopher loves hearing from his listeners. Feel free to email him, connect on Facebook, X (formerly Twitter), LinkedIn, and subscribe on Apple Podcast / Spotify!  

Intelligence too cheap to meter -- could that actually be coming?

The yen just hit a 40-year low and Japan is trapped. Whether they hike or freeze, it ends the same way: the pin that pricks our bubble.Tonight's episode is sponsored by NetSuite. For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, Go to http://netsuite.ai/goldTonight's episode is also sponsored by Rockwell Automation. Download their 11th Annual State of Smart Manufacturing Report at https://rok.auto/sosmInvestors are far too complacent about risks that are now hiding in plain sight. The AI trade cracked this week: Alphabet fell 10% after announcing even higher CapEx, Oracle is down 41% on the year, Meta and Amazon fell, and Microsoft is nearly in a bear market. SpaceX now trades 49% below its post-IPO high with its float set to jump from 5% to 40% by year end, and Tesla dropped 18%, costing Elon Musk nearly $100 billion in a week. Peter Schiff compares the roughly three-quarters of a trillion dollars in annual AI CapEx to the dot-com build-out, where the early favorites went bankrupt and took their vendors down with them.The bigger danger is Japan. The yen fell to a 40-year low against the dollar, the 30-year JGB yield hit an all-time high near 4%, and with debt above 200% of GDP and a policy rate still at just 1%, Japan is trapped. Whether the Bank of Japan finally hikes aggressively or stays timid, the result spills into the United States, potentially forcing the world's largest holder of US Treasuries to dump its $1.1 trillion position. Schiff calls Japan the pin that pricks the far bigger US bubble. Meanwhile the US 30-year yield hit a 20-year high of 5.16% on more than four times the debt of 2006, oil is up 30% in July guaranteeing a hotter CPI, and gold rose on the week even as bonds and stocks fell, with the miners signaling a bottom. He closes on why record-low jobless claims are meaningless in a gig economy and why Trump's new slave-labor tariffs are an unconstitutional tax on Americans.Chapters:00:00 Japan Sparks US Crisis00:41 AI CapEx Reality Check07:51 AI Bubble Parallels13:03 Gold Miners Rebound19:17 Oil Bonds Warning Signs32:16 Japan Debt Rate Trap34:36 Weak Yen Trade Deficits37:22 Japan Creditor Status Slips41:22 Two Japan Crisis Paths44:26 US Vulnerability Dominoes45:21 Unemployment Claims Hype47:20 Why Claims Mislead51:37 New Tariffs Legal Workaround59:03 Wrap Up Subscribe CallFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiff#PeterSchiffShow #gold #inflationOur Sponsors:* Check out Chilipad and use my code GOLD for a great deal: https://sleep.me* Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com* Check out Plaud AI and use my code GOLD for a great deal: https://plaud.ai* Check out Quince and use my code quince.com/gold for a great deal: https://www.quince.com* Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.comPrivacy & Opt-Out: https://redcircle.com/privacy