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Nvidia posted $96B in quarterly revenue and guided to 70% growth next year, then agreed to buy Hugging Face for $12.9B. Trump weighed sweeping chip tariffs, cybersecurity stocks ripped on AI threats, and Instinct raised at $2.5B. Links Nvidia reports Q2 revenue up 106% YoY to $96.22B, above $92.17B est., Data Center revenue up 117% to $89B, above $85.08B est., and net income up 126% to $59.7B (Nvidia) Nvidia guides to ~70% revenue growth next fiscal year, well above the 45% analysts expected, sending shares up as much as 7.6%, though margins will bottom at 71%-72% on memory costs (Bloomberg) Source: Nvidia has agreed to acquire Hugging Face for $12.9B; the AI repository has had several potential suitors among its investors, including Salesforce (The Information) Sources: the Trump administration is weighing sweeping new tariffs on chips and other products like laptops and consoles, despite warnings from tech companies (Politico) Cybersecurity stocks surge, with Okta up 20%+ and CrowdStrike up 15%+, after earnings showed that AI adoption is driving attacks and spending on security tools (CNBC) AI assistant Instinct is raising a $250M Series B co-led by Index and Benchmark at a $2.5B valuation, taking its total funding to $350M since its 2025 founding (The Wall Street Journal) Subscribe to the ad-free feed.

Brian Szytel reports markets were essentially flat, while bonds moved as the 10-year yield rose 3 bps to 4.66; oil was slightly lower amid ongoing Strait of Hormuz deal talk. Economic data was mostly positive, but headline PCE was 0.3 vs 0.2 expected (3.7% YoY) while core PCE matched expectations at 0.2 (3.3% YoY), lifting Fed futures to a 40% chance of a September hike, which he views as largely a token 25 bps timing debate into Q4. He previews Jackson Hole and Fed hawk Warsh, focusing on potential balance-sheet discussion amid Treasury plans to issue more short-term debt and buy back about $4B long-term. A listener question prompts discussion of debt absorption, real yields, overindebtedness as deflationary, and currency depreciation as a release valve, citing Japan's weakening yen alongside rising JGB yields. Other data: durable goods 1.1% vs 0.5%, personal income 0.4% vs 0.2%, spending 0.2, and Q2 GDP unchanged at 1.5% with nominal GDP in the 6s. 00:00 Market Wrap Overview 00:25 Bonds Oil Geopolitics 00:55 PCE Inflation Update 01:38 Fed Hike Odds 02:06 Jackson Hole Treasury Moves 03:09 Balance Sheet QT Talk 04:04 Debt Issuance Explained 05:16 Japan Yen Release Valve 06:04 Other Economic Data 06:45 GDP And Closing Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links —Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links —Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links —Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links —Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.

Google's AI Max is now serving 1 in 4 of your exact-match ad impressions — and it's quietly reshaping Search and Performance Max campaigns. Chris and Mike deliver the AI Max deep-dive they promised last episode, breaking down exactly how that number gets generated and what it costs you in control.Picking up where Alphabet's Q2 earnings call left off, this episode unpacks Google chief business officer Philipp Schindler's claim that AI Max is "unlocking billions of net-new searches that weren't really monetizable before." The mechanics: when there isn't enough auction competition for a search term, Google either skips serving an ad or falls back to ad-rank thresholds — AI Max exists to monetize that gap by expanding matching beyond your exact and phrase match keywords, using what's effectively broad match under a new name (officially "search term matching").The numbers back it up. Across AI Max campaigns, roughly 80% of the additional impressions come from exact match terms and 20% from phrase match — and once AI Max is activated in a campaign running mostly exact match, about 1 in 4 impressions against those exact-match keywords now originate from AI Max instead of the keywords you actually chose. Chris and Mike weigh the real trade-off here: advertisers who deliberately chose exact match for control are being nudged toward broad-match-style reach, though the ad-group-level opt-out is a meaningful safety valve. Revenue uplift is real per in-platform attribution — but it's driving volume, not necessarily matching Google's claimed efficiency.The second half tackles a related head-scratcher: click-through rates on Shopping and Max campaign types have climbed roughly 17-20% year-over-year for over a year — the opposite of what the "zero-click," AI-Overviews-kill-CTR narrative predicts. Chris and Mike test a mechanical hypothesis (impressions falling 10-12% YoY while clicks hold steady would produce this exact pattern) without claiming it's confirmed, and discuss why ecommerce commercial queries may be more shielded from the zero-click trend than informational, publisher-facing searches — for now.If you manage Google Ads campaigns and want to understand what AI Max is actually doing to your account's match types, this is the episode.Growing Ecommerce is brought to you by smec (Smarter Ecommerce).Learn more: https://www.smarter-ecommerce.comTry smec's free Market Observer benchmarking tool: https://smarter-ecommerce.com/en/smec-market-observer/  Catch last episode's Q2 earnings breakdown for context: https://youtu.be/yaSBRm-pEFo

OpenPunta de Mita Mexico. Pure heaven. AC/DCWorldCup Play at 0.15.  Videos of foreigners talking about America. Awesome.Play Feynman at 10.29 minMarketsSCHD and VOO ATH. VGT And QQQ off ~5%. 1 year 30% SCHD, 32% VGT and 24% VOO.Leopold LeverageThe fund had gained about 270% after fees this year through May. At that point, it was up more than 1,000% after fees since inception. It had ballooned to well over $20 billion under management, reaching the size of other well-known hedge funds that took decades to build.Example: you have $1000. Borrow $1000. Buy $2000 of stocks. Stocks go down 50%. Your broke.NetflixEarnings letter. TeslaBiggest one day loss EVER. Down 14.5%. One concept keeps me calm: The US needs Tesla and its Robotics for national security. Revenue GrowthSo many changes in last 2 years. Revenue should grow steadily now:  Model YL (sleeper hit), Energy, Semi, Robotaxi (finally!), Optimus (~9 months), Services (up 50% YoY). CyberTruck basic config (delivery in 2027...huge demand!Earnings Deck here. $100b annual run-rate.$28b revenue quarter. Record. 1.48m FSD subscriptions. TeraFAbThis is why we're building the largest chip manufacturing facility ever, with the goal of producing over 1 terawatt of compute per yearAILetter from companies/CEO's urging allowing Open Weights AI models. SpaceXThis tweet if off the charts” ‘https://x.com/stevederico/status/2084779469647266042Play Elon$100 billion ARR by December 2026 (they get here doing "nothing")$1 trillion in revenue as early as 2029Starship heat shield "solved"1 year payback on AI Data Center CapEXEnd of 2027 data center capacity will upwards of 5x (or more)NVIDIA exclusive chip partner for data centers on ground and spaceThey are using learnings from building rockets to build data centers, and it turns out data centers are way way way easier than rockets (means they can go extremely fast)Starlink commercial will be much bigger than consumer and Starlink should deliver most of the world's internetAI will be able to do almost anything in digital world by end of 2027V3 satellites will 10x the bandwidth and will be launched 10x as many as V2.Connectivity demand will explode due to physical AI (self driving cars/humanoid robots)PoliticsFlorida's budgetNewsom Pay to Play from WSJDave Friedberg on CA Tax. Billionaire TaxHoover Institute VideoPodcasts Really enjoyed Tim Robins on spotify. Advice: Never give up. Just show up. Everyone gets a job. Be AI literate.I don't think its hard to be successful in America. Hard = show up everyday, care about your job and your duty. That'st it. Great Coscto example here

This is the latest in my series of podcasts explaining how economics works in the credit crunch and now virus pandemic era. This week I give my thoughts on:- I've seen a couple of commentators talking about ‘zombie companies' in Japan, which will fold if interest rates rise. It'd be interesting to explore this, and whether it will affect the USA, Europe and the UK — all of which have already seen bankruptcies rising, ahead of Japan's own reckoning. Secondly, it looks like the USA is worried enough to help support the yen. What do you think? With the Lloyds house price monitor this morning showing 0.1% YoY and 0.0% MoM increases, does this not prove even more problematic for Labours 1.5 million new homes target, as cost of construction costs increase, not just with inflation but increasing regulations around Net Zero etc? "What is the potential impact of US market interventions to 1) keep the oil price below $90 2) bolster the yen?"

Has the CELSIUS growth story gone “stone cold” or are temperatures about to heat up once again? Celsius Holdings (NASDAQ: CELH) had quarterly revenue of $817.9 million, which was up 11% YoY. Excluding the Rockstar Energy acquisition-related financial impact, Celsius Holdings revenue would've only increased 1.6% YoY. CELSIUS had revenue of $387 million, which was down 11.6% YoY. Alani Nu had revenue of $364.4 million, which was up 20.9% YoY. And then lastly, Rockstar Energy had revenue of approximately $66.5 million. According to recent 13-week retail sales data, CELSIUS decreased by 2% YoY...remaining the third-largest energy drink brand in the category with a dollar share of 9.5%. Alani Nu increased retail sales 55.7% YoY and is now the dominant fourth brand in the U.S. energy drinks market with dollar share of 8.7%. And Rockstar Energy retail sales decreased 13% YoY and is still a Top-10 largest U.S. energy drink with dollar share of 1.9%. If we look at Celsius Holdings combined brand portfolio, it reached 20% of dollar share...ranking it third and trailing only Red Bull and the combined Monster Beverage portfolio. Additionally, while Celsius Holdings has a large lead on the combined Keurig Dr Pepper (controlled) brand portfolio of GHOST, C4, and Bloom…that lead is shrinking relatively quickly due to the extreme growth of Bloom. Things drastically shifted for CELSIUS because of the August 2022 distribution and investment deal with PepsiCo. Additionally, when Celsius Holdings took ownership of the Rockstar Energy brand last quarter, it designated them the PepsiCo strategic energy drink captain. Also, another major aspect of “Celsius Holdings and PepsiCo strengthening its long-term strategic partnership” was the transition of Alani Nu distribution into the PepsiCo DSD system starting December 2025. So then, in my latest first principles thinking content piece, I'll explore several key factors surrounding why the next 12-18 months will define the future of the Celsius Holdings brand portfolio.

Google shook up its AI leadership, kicking Demis Hassabis upstairs while Jeff Dean and Sanjay Ghemawat left to found Discovery Loop. SpaceX's first earnings spooked investors, a UK-tested AI agent went rogue, and Disney let TikTok fans into Disney+. Links Google just announced a major shakeup of its top AI leadership (The Verge) SpaceX reports Q2 revenue up 92% YoY to $7.8B, vs. $6.81B est., AI operating loss of $1.26B, vs. $2.39B est., says capex in Q3 and Q4 will remain similar to Q2 (Bloomberg) An AI agent went rogue during UK safety tests, creating fake identities and launching social engineering attacks unprompted (The Decoder) Disney announces a global deal with TikTok to bring "thoughtfully curated" fan-created short-form videos based on Disney's IP to Disney+'s vertical Verts feed (The New York Times) Subscribe to the ad-free feed.

#stockmarket #finance #investing #uspharma #tariffs #rbimpc #bhartiairtel #nykaa #kalyanjewellers #dragarwals #avalon #mcx #nifty50 #businessnews #sensexhttps://shorturl.at/ZlJ11Book your seat for Delhi Sessionhttps://shorturl.at/gM97lHow to Use Artificial Intelligence for Investing - Combo of 5 ebookshttps://shop.investyadnya.in/pages/global-portfolio-methodologyInvest in Investyadnya's Global Equity PortfolioCatch today's market updates! The RBI MPC begins its 3-day meeting, with repo rates expected to stay unchanged. Bharti Airtel posts strong Q1 margins, Nykaa's fashion vertical booms 53%, and MCX net profit surges 103% YoY. Plus, Q1 results from Kalyan Jewellers, Avalon Technologies, and Dr Agarwals!00:00 Start01:08 US deal with Iran 02:23 RBI MPC Meeting Today03:03 Bharti Airtel Q1 Results06:46 Nykaa Q1 Results08:42 Kalyan Jewellers Q1 Results12:00 Dr Agarwals Health Care Q1 Results13:38 Avalon Technologies Q1 Results16:10 MCX Q1 Results18:07 Lessons From “The Psychology of Money”

With “protein mania” pushing the macronutrient into top-of-mind status (arguably creating more purchasing impulsivity), is it finally time for Premier Protein to embrace the “single life”? BellRing Brands (NYSE: BRBR) is a portfolio that owns a collection of convenient nutrition brands like Premier Protein and Dymatize Nutrition, which was previously wholly-owned by Post Holdings. A fast-paced and busy lifestyle is pushing consumers to switch to quick and healthy meal options. This has resulted in above average categorical growth rates and increased household penetration of RTD protein shakes that promote active lifestyles. Additionally, powders are becoming more mainstream, and category proliferation has created an environment where more consumers are purchasing both every day and performance nutrition positioned protein products at grocery stores and mass retailers. Bellring Brands reported 2026 Q3 net sales of $570.4 million, which was up 4.2% YoY. Premier Protein (~85% of BellRing Brands total revenue) increased by 0.7% YoY, driven by volume growth but partially offset by a decrease in price/product mix. Dymatize Nutrition was up 26.7% YoY, driven by higher average net selling prices. Moreover, I provide deep dives into Premier Protein RTD protein shakes business activity, along with examining similar metrics surrounding the protein powders from Premier Protein and Dymatize Nutrition. But then, Michael Axelrod officially took over as the new CEO of BellRing Brands. And you might be asking yourself, who is Michael Axelrod…and can he help improve performance and better translate category leadership into more consistent, profitable growth over time. In all honesty, since he only started a handful of days ago…and hasn't laid out his strategic initiatives yet, I'm not totally sure. But here's what I'll say, Michael Axelrod has extensive up- and downstream CPG industry experience…and trust he'll strengthen execution and improve operational discipline (most notably involving Premier Protein's regionally diverse contract manufacturing network). However, here's my biggest concern…can he effectively transition Premier Protein into this “full-fledged beverage company,” a much-needed strategic reality that previous leadership seemed hellbent on not embracing. And in a market where “singles” are quickly becoming a larger share of the total RTD protein shakes market, Premier Protein must think more deeply about not only its DSD distribution strategy but organizational structure. Right now, the RTD protein shakes category is more dynamic and competitive than ever, thus for Premier Protein to remain the market leader it will require not only greater operational discipline but new capabilities.

Send us a question/idea/opinion direct via text message!National property values recorded their fourth consecutive monthly drop in July, slipping -0.3% to extend the quarterly decline to -1.0%. On this week's episode of the New Zealand Property Market Podcast, Head of Research Nick Goodall and Chief Economist Kelvin Davidson unpack the latest Cotality Home Value Index (HVI) results. We explore the deepening North-South divide: while Auckland (-0.7% month) and Wellington (-0.8% month) continue to drag, Christchurch (+0.1%) and Dunedin (+0.2%) remain resilient, and Invercargill has surged to a new record median peak of $565,000 (+8.2% YoY).The guys also discuss a tongue-in-cheek LinkedIn post by Westpac Senior Economist Satish Ranchhod, which highlighted a statistical correlation between per-capita cow populations and house price growth. We explain why strong agricultural export returns are buffering rural centres like Gore, Hurunui, and Mackenzie, while urban service-driven economies lag under high interest rates and pre-election policy uncertainty.Finally, we preview Wednesday's Q2 official labour market release following June's +0.1% filled jobs figure, evaluate why the unemployment rate could rise from 5.3% to 5.5% due to labour force expansion rather than mass layoffs, and review ANZ's July business confidence bounce.This week we discuss:July Home Value Index: Why national values fell -0.3% over the month and -1.0% over the quarter.The North-South Divide: Auckland and Wellington value softness versus Christchurch (+3.6% YoY) and Dunedin (+3.3% YoY).Invercargill's New Record: Why the southern city hit $565,000 alongside agricultural hubs Gore, Hurunui, and Mackenzie.Satish Ranchhod's Cow Post: How agricultural strength is directly supporting regional home values.Labour Market Preview: Why a forecast unemployment rise to 5.5% reflects a growing workforce rather than job destruction.Election Hesitation: How investor sentiment is cooling as buyers pause ahead of upcoming political tax debates.Listener Feedback: Addressing a Spotify comment on Christchurch suburb competition and the OCR path.Sign up for news and insights or contact on LinkedIn, X @NickGoodall_CL or @KDavidson_CL and email ngoodall@cotality.com or kdavidson@cotality.comThis podcast is for educational and entertainment purposes only and does not constitute financial, legal, or tax advice. The hosts are not licensed Financial Advice Providers in New Zealand. All information is of a general nature and does not take into account your personal situation or goals. Please consult a qualified professional before making any financial decisions.

Welcome to Macro, Micro and Small Cap News with Sharepickers! In today's episode for Friday, 31st July 2026, we review the main market indices, examine the Bank of England's rate decisions alongside Neil Woodford's macroeconomic insights, look at AI security concerns, and highlight 3 promising UK stocks worth researching.

Send Us A Message! Let us know what you think.Why are 10 percent more Kiwi homeowners choosing to rent out their properties rather than sell them? And how did organized crime syndicates convert 17 suburban Auckland rental homes into illegal grow houses right under self-managing landlords' noses?In Episode 22 of New Zealand Property Insights, financial adviser Debbie Roberts and experienced investor Paul Roberts (Owners of Property Apprentice) break down fresh June 2026 rental market data from realestate.co.nz and examine critical asset security safeguards for property owners.First, we analyze the nationwide surge in new rental listings (+10% YoY) driven by Kiwis relocating overseas who are choosing to hold onto their properties as a long-term capital buffer. We explore regional extremes including Wairarapa (+67.6%) and Southland (+32.8%), alongside the sharp stock contraction in Wellington (-25.7%).Next, we break down an urgent warning from police and tenancy experts following the seizure of 1,532 cannabis plants across 17 West Auckland rentals. We expose the subtle vetting red flags that self-managing landlords miss—from failing ID software to fake referees whose voices change across phone calls—while outlining how to perform rigorous due diligence without violating New Zealand's Human Rights Act.

In this podcast episode of Calibrate: a Real Estate Podcast, Kyle Malnati invited Scott Ratthbun back for a 3rd episode but this time as a keynote speaker before a live audience at a Mastermind Event for top Real Estate Agents in Colorado. Scott Rathbun is the President and Owner of Apartment Appraisers and Consultants (AA&C) . He discusses the current state of the housing market (both for sale and multifamily rentals) in the Denver Metro Area. This episode provides valuable insights and data-driven analysis for real estate professionals and decision-makers in the Denver Metro Area, as they navigate the current market conditions and plan for the future. Here are key takeaways: Vacancy decreased 115 basis points (bps), from 7.47% last quarter to 6.32%, down 7 bps YoY. Overall vacancy (including properties in lease-up) decreased 147 bps during the quarter to 9.46% and down 142 bps YoY. Absorption of conventional apartments increased from 2,783 units in 1Q 2026 to 6,760 units in 2Q 2026. The T12 absorption increased to 14,220 units, the highest T12 figure in the 22-year history of our survey. The demand for apartments remains high due to the increasing unaffordability of homeownership, leading to a delay in the transition from renting to owning.  The apartment market has been overbuilt in year's past, resulting in rising vacancy rates and the need for landlords to offer significant concessions to attract tenants. These concessions are showing to be improving absorption and vacancy rates, but concessions still remain high.  Check out our last episode with Scott HERE: http://bit.ly/4pJhYqS  

This week, I detail Comcast's Q2 earnings, which, for the first time in six years, showed Peacock had a positive quarter, with $189 million in EBITDA. This positive news was offset by the loss of 280,000 cable TV subscribers and 167,000 broadband residential customers, with total company revenue down 1.2% YoY.I discuss the news that Roku is raising the MSRP of its streaming sticks and boxes from $10-$50, depending on the model, noting that the largest portion of Roku's overall device unit volume comes from the sale of third-party Roku-made TVs by OEM partners, not Roku boxes.Finally, I detail the final FIFA World Cup viewership numbers from YouTube, Cazé TV, TikTok, Fox/FOX One, and Telemundo/Peacock, highlighting the different measurement methodologies used, and mention Telemundo becoming the exclusive U.S. Spanish-language rights holder for the next UEFA men's club competitions.Podcast produced by Security Halt Media

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links —Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.

Today's Post - https://bahnsen.co/4yKPl0J The Monday Dividend Cafe reviews a volatile market session where early gains faded despite oil dropping on renewed Iran-talk hopes; the Nasdaq finished slightly down, the S&P flat, and the Dow up 0.5%. The host flags NVIDIA's move to guarantee $250B in financing for an OpenAI data center and notes NVIDIA fell 5%, while highlighting widening CCC credit spreads as a developing risk signal. Sector performance showed rotation rather than broad risk-off, with staples up and energy down on the day, and notable dispersion across semiconductors and software. Policy coverage includes a six-month tariff extension shifting toward Section 301 (10–12%) with expected legal challenges, plus midterm implications tied to Michigan's Senate race. Economic notes: durable goods strength largely driven by data centers; new home sales up modestly but down YoY with prices off peak. Ahead: FOMC under Chair Warsh, balance-sheet tightening possibility, and ongoing earnings season. 00:00 Monday Market Rundown 00:15 Oil Hopes Fade 01:30 NVIDIA Financing Shock 02:21 Credit Spreads Warning 04:00 Sector Rotation Month 04:45 Semis And Software Dispersion 06:21 Tariffs And Trade Policy 07:49 Midterms Michigan Bellwether 10:11 Durables And Data Centers 10:51 Housing And Mortgage Lock In 11:58 Warsh Fed Meeting Preview 14:32 Oil Move And Midstream 14:45 QandA Links And Wrap Up Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com

Ally Financial, Capital One and Huntington Bank posted mixed results in the second quarter for auto originations and credit performance.  Ally Financial's auto originations rose 20.9% year over year in Q2 to $13.3 billion, while Capital One's auto originations increased 18.9% YoY to $12.9 billion. Huntington Bank's auto originations, however, decreased 39.1% YoY to $1.4 billion.  Delinquencies were also mixed, with the rate of auto loans 30-plus days past due down YoY at Ally and Capital One but up at Huntington. The auto net charge-off rate rose YoY at Capital One and Huntington but declined at Ally.  Tesla, meanwhile, produced 451,758 cars, up 10.1% YoY, in Q2 and delivered 480,126, up 25% YoY. The EV manufacturer's lease penetration decreased to 1.6% in Q2 from 1.7% a year prior but was up from 1% in Q1.  Leasing continues to help consumers access lower monthly payments. AmeriTrust Financial this month launched a program with direct car-buying company Military AutoSource to provide new- and used-vehicle leasing for military service members.  In funding news, Pagaya Technologies issued its largest auto asset-backed securitization deal at $750 million as the fintech continues to see strong investor interest and auto volume.  In powersports, industrywide boat sales increased 3.6% YoY to 5,292 units in June. Retailer MarineMax reported a 2.1% YoY dip in finance and insurance product revenue in its fiscal third quarter alongside a 7.1% YoY decline in same-store sales. Harley-Davidson Financial Services' originations also increased 10% YoY in Q2 to $940 million while motorcycle sales increased 3% YoY to 29,751 units in North America. In this episode of “Weekly Wrap,” Auto Finance News Editor Amanda Harris, Senior Associate Editor Aidan Bush and Associate Editor C.J. Moore discuss second-quarter trends across sales, finance and insurance revenue, powersports and funding. 

Send Us A Message! Let us know what you think.In this episode of the Week in Review, Debbie Roberts, owner and financial adviser at Property Apprentice, cuts through the noise of policy shifts and headlines to unpack the latest real estate data. Despite quiet buyer demand, banks are quietly loosening lending criteria, with a net 36% of advisers reporting bank willingness to advance funds—up from just 2% two months ago. Meanwhile, high-density "park-free" townhouses are creating real-world friction, leading to street parking issues, a $100,000 garage sale in Wellington, and tradies charging up to a 30% premium to access parking-nightmare streets. Debbie also breaks down the REINZ June figures to show why the national housing market is holding flat rather than collapsing, examines RBNZ Assistant Governor Karen Silk's comments on housing wealth channels, and exposes the 6-year vacancy scandal surrounding Kāinga Ora state housing in Strathmore Park. Topics Covered in This Episode:Banks Easing Criteria vs. Buyer Hesitation: Why banks are opening their doors while buyers stay home, and how experienced investors can take advantage of the pre-approval conversion gap. The Park-Free Townhouse Reality: How government deregulation of parking rules in 2021 is backfiring with street parking chaos, tradie access premiums, and developer catch-22s. REINZ June Data & Regional Splits: Why national median prices held steady at $770,000 (+0.7% YoY) and how Canterbury (+4.1% YoY) is outperforming Wellington (-4.5% YoY). RBNZ OCR Hike & Falling Wholesale Swap Rates: Why retail banks face no commercial pressure to raise long-term fixed rates despite the OCR moving to 2.5%. Wellington Ghost Houses: Kāinga Ora's bureaucratic gridlock in Strathmore Park leaving prime land vacant for up to six years while over 800 people sit on social housing waitlists. Support the showDisclaimer: The information provided in this video is for educational purposes only and does not constitute personalized financial advice. We recommend seeking advice from a qualified professional before making any investment decisions.*Property Advice Group Limited trading as Property Apprentice has been granted a FULL Licence with the Financial Markets Authority of New Zealand. (FSP Number: FSP157564) Debbie Roberts | Financial Adviser (FSP221305) For our Public disclosure statement please go to our website or you may request a copy free of charge.

National and regional bank second-quarter earnings point to mixed performance as larger banks lean into auto production while regional banks held steady or scaled back amid market volatility.  Wells Fargo Auto, for one, reported a 40.6% year-over-year increase in originations in Q2, while Chase Auto's originations rose 8.9% YoY. Bank of America's auto book shrank. Regional banks saw improvement in auto portfolio delinquencies, but portfolio growth was mixed. Fifth Third Bank's 30- to 89-day delinquencies across its indirect secured consumer portfolio, made up of 84% auto loans, fell 11 basis points (bps) YoY, though net charge-offs inched up 3 bps YoY. U.S. Bank's indirect loan and lease originations, which include auto, increased 61.2% YoY, while PNC Financial's auto portfolio ticked down 0.1% YoY. Truist reduced lending in prime and nonprime auto and discontinued originations and RV and marine loans.  Buy here, pay here dealer America's Car-Mart's net charge-offs also rose as sales declined 27.1% YoY and the company eyes restructuring and financial challenges. The Rogers, Ark.-based retailer cut its number of dealerships by 60 locations, or 39%, YoY to 94. In powersports, EV manufacturer Lightship is rolling out consumer financing options for its electric-assist RV trailer. In this episode of “Weekly Wrap,” Auto Finance News Editor Amanda Harris, Senior Associate Editor Aidan Bush and Associate Editor C.J. Moore discuss second-quarter trends across credit performance, portfolio growth, originations, sales and funding. 

Demis Hassabis proposed a US-based frontier AI standards body modeled on FINRA. IBM's stock cratered 20% on a Q2 miss from chip-spending shifts, Spotify launched a voice-control feature, Kalshi debuted an AI compute forward curve, and Anthropic studied Claude's values. Demis Hassabis proposes a US-based Standards Body for "Frontier-class" AI, modeled after FINRA; labs would share models for review up to 30 days before release (X) Demis Hassabis proposes a US-based Standards Body for "Frontier-class" AI, modeled after FINRA; labs would share models for review up to 30 days before release (The Verge) IBM reports preliminary Q2 revenue up 1% YoY to $17.2B, below $17.9B est., as CEO Arvind Krishna says customers are shifting spending to chips; IBM falls 20%+ (Bloomberg) Spotify launches a Talk to Spotify feature that lets users create playlists and more, rolling out in beta to Premium users 18+ in the US, Ireland, and Sweden (Engadget) Kalshi launches a forward curve tool for AI compute, using event contracts to track the future rental costs of GPUs, storage, and memory (Bloomberg) Simulating everything, sort of: The promise and limits of world models (Ars Technica) Subscribe to the ad-free feed. Learn more about your ad choices. Visit megaphone.fm/adchoices

Subaru Motors Finance plans to expand its underwriting to attract more first-time buyers, Managing Director Michael Cottone tells Auto Finance News in the latest episode of “The Auto Finance Roadmap Podcast.”“We are extremely low when it comes to delinquencies; the FICO scores are very high, the income levels are high,” he says. “We're looking to try and find more buyers for the Subaru brand. We're trying to look at where we can expand credit policies … especially looking at the younger demographic.” Cottone pointed to Subaru's college graduate financing program, which, according to Subaru, approves new-vehicle loans for recent graduates with thin or invisible credit files as long as:The graduate's payment-to-income ratio does not exceed 15% of gross monthly income;They have not faced bankruptcy, foreclosure or repossession; andThey have proof of employment and income.The program also offers up to $500 in cash rebates, according to the retailer.As a private-label captive for Subaru of America powered by Chase Auto, Subaru Motors Finance uses Chase's digital platforms and in-person events to market Subaru financing offers, Cottone says.“We're trying to find all the different avenues from JPMorgan Chase to get those first-time buyers into a Subaru. … It's really a matter of generating more traffic, more conquesting and more customers to come into the doors so the retailers can sell to them,” he says.The captive is also leaning on Subaru of America's lease incentives to offer borrowers lower monthly payments rather than financing longer terms, Cottone says.Cottone says Subaru Motors Finance's originations rose year over year as of July 7, without providing specifics. Subaru of America's auto sales jumped 18.1% YoY in June to 54,909 units.In this episode of “The Roadmap,” Auto Finance News senior associate editor Aidan Bush and Cottone discuss consumer affordability challenges, leasing, longer loan terms, EV financing and technology adoption.

Microsoft laid off ~4,800 employees and gutted Xbox by 3,200 jobs while divesting five studios. Samsung's profit rocketed past Nvidia's, Meta faced a $1.4 trillion lawsuit demand, xAI rebranded to SpaceXAI, and Anthropic researchers found a hidden "J-space" inside Claude. Microsoft is laying off ~4,800 employees, or ~2.1% of its workforce; most are in sales or Xbox, where ~20% of jobs are set to be cut by the end of FY 2027 (The Verge) Microsoft's Xbox to Cut 3,200 Jobs, Divest Five Studios in Major Overhaul (Bloomberg) Samsung estimates Q2 operating profit of ~$58.44B, a 19-fold jump from a year earlier and above a ~$57.02B estimate, and revenue up 129% YoY to ~$111.7B (Reuters) Samsung estimates Q2 operating profit of ~$58.44B, a 19-fold jump from a year earlier and above a ~$57.02B estimate, and revenue up 129% YoY to ~$111.7B (WSJ) Court filing: Meta says four US states seek $1.4T over claims it designed Facebook and Instagram to addict youth and misled the public; its market cap is ~$1.5T (Reuters) xAI rebrands to SpaceXAI and unveils a new logo; Elon Musk said in May that xAI would be dissolved as a separate company and become the AI products from SpaceX (Business Insider) Anthropic researchers detail J-space, a small set of neural patterns in Claude that reveals internal thoughts that don't appear in the model's output (Anthropic) Anthropic researchers detail J-space, a small set of neural patterns in Claude that reveals internal thoughts that don't appear in the model's output (VentureBeat) Subscribe to the ad-free feed. Learn more about your ad choices. Visit megaphone.fm/adchoices

When James Reinhart walked into a Cambridge consignment store with a bag of business school clothes in 2008 – a J.Crew cashmere sweater, a Brooks Brothers coat – and was told they had no resale value, he didn't accept the answer. "I can't believe this cashmere sweater is worth zero," Reinhart tells Ken. That moment became Thredup. Sixteen years later, the company he co-founded as a broke ex-teacher earning $24K a year is a public marketplace approaching $400M in annual revenue, with 25M+ items sold this year across 35,000 brands.In this episode of The Retail Pilot, Ken sits down with James Reinhart – Co-Founder and CEO of Thredup – to unpack how a former 8th grade teacher built one of the most operationally complex companies in fashion. They explore the founding story, the "Netflix of shirts" pitch, the unit economics driving 80% gross margins, the Resale-as-a-Service partnerships with J.Crew, Athleta, Steve Madden, and Cotopaxi, the peer-to-peer launch competing with Poshmark and Depop, and the 4-day work week that became permanent.In this episode you'll learn:How a Cambridge consignment rejection and a J.Crew cashmere sweater became the genesis of ThredupWhy the first year ran on $70K with 7 employees – and why Boston VCs passed before Silicon Valley said yesThe "Netflix of shirts" original pitch – and why it was a "terrible business" that taught them everythingHow Thredup hit ~$400M in annual revenue and a 25% YoY increase in active buyersThe KPIs James actually tracks: contribution margins, LTV to CAC, and units per hour throughputThe supply-side strategy: why dominating sellers is the playbook (and what Airbnb, OpenTable, and Spotify taught him)Resale-as-a-Service: how J.Crew, Athleta, Steve Madden, and Cotopaxi power resale with ThredupThe direct listings launch: how Thredup is competing with Poshmark and DepopInside Thredup's distribution centers: hundreds of thousands of items processed daily, 1M+ photos a dayThe Dallas warehouse: 4 football fields, 4 stories high, 10M items, $600–700M in throughputHow AI is powering search, discovery, and Pinterest-board-to-shop curationThe 4-day work week experiment that never ended – and the sabbatical and maker day policies before itWhy Thredup went public – and why James thinks it made the company "so much better"This episode is for you if: you're a founder building operational moats, a retail operator exploring Resale-as-a-Service, an investor tracking unit economics, a brand leader weighing circularity, or an HR leader curious about the 4-day work week.Subscribe to The Retail Pilot for more conversations with retail leaders shaping the future of commerce.If you missed our last episode, where Denise Incandela unpacks Walmart's fashion transformation, be sure to tune in.Connect with Ken:-Follow Ken Pilot Ventures on LinkedIn, Instagram, and YouTube. Hosted on Ausha. See ausha.co/privacy-policy for more information.

Brian Szytel recaps markets on June 30, the last day of Q2, noting a strong first half for the Dow and the best Nasdaq quarter since 2020, with tech leading as the Dow rose 136 points, the S&P 500 gained 0.8%, and the Nasdaq rose 1.5% while the 10-year yield increased 8 bps. He highlights the Japanese yen at its weakest versus the dollar in over 40 years (~162), describing the yen carry trade and warning that BOJ interventions (about 11 trillion yen) and rate hikes could trigger volatility like August 2024. He also discusses rising system leverage, with margin debt up 54% year over year to about $1.4T and the risks of triple-leveraged single-stock ETFs for retail investors. Economic data included weaker consumer confidence, stronger JOLTS openings with steady quits, lower Chicago PMI, and softer Case-Shiller home prices (down monthly, +0.7% YoY). 00:00 Market Wrap Q2 Finale 01:32 Yen Weakness And Carry Trade 02:40 BOJ Intervention Risks 03:47 Leverage Rising In Markets 04:22 Margin Debt And Leveraged ETFs 05:51 Economic Data Roundup 06:48 Closing Thoughts And Sign Off Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links —Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.

Welcome to The Ecommerce Braintrust podcast, brought to you by Julie Spear, Head of Retail Marketplace Services, and Jordan Ripley, Director of Retail Account Management. We recorded this episode on June 29th, 2026, just after the dust had settled on Amazon Prime Day 2026. The initial numbers are starting to normalize, and we have brought together a great panel of internal experts to help us unpack exactly what went down. Joining us to break down the event from all angles, we have: Ross Walker, Director of Retail Media, will walk us through the media side Michael Childers, Retail Account Manager, covering account strategy Meg Scavo, Senior Account Manager, digging into the data from the disruptor and challenger brands we manage Let's jump right into it.   "If you don't run any deals, you might be down year over year. With all the filtering and AI tools, people are going straight to deals in search, so you won't get visibility." -Meg Scavo KEY TAKEAWAYS In this episode, Julie, Jordan, Ross, Michael, and Meg discuss: Prime Day 2026 delivered strong growth. Spend was up ~23% YoY for Acadia clients, ahead of expectations, but performance increasingly came down to execution-promotion depth, media strategy, and catalog focus-not just participation. The sales curve flattened across all four days. Days 2 and 3 saw the strongest growth, and the classic "Day 1 spike + Day 4 finale" pattern weakened. Consumers are pacing purchases more deliberately, while Amazon's merchandising is actively shaping that flow. Participation is effectively mandatory now. Roughly 9 in 10 brands ran promotions. Opting out no longer just forfeits upside-it can actively hurt visibility, as the traditional halo effect continues to fade. Promotions have converged into a more disciplined playbook. Prime Exclusive Discounts dominate, with brands shifting from broad discounting to tiered strategies-heavier discounts on hero ASINs (30–40%), lighter elsewhere (15–20%)-balancing rank defense with margin control. Incrementality looks weaker, but it's largely a baseline shift. June timing created a "higher floor," making lift look smaller than prior years. Absolute growth is still strong, but comparisons to past Prime Days are less apples-to-apples. AI is becoming the infrastructure layer of shopping. Discovery, PDP content, reviews, and Q&A now directly influence how products are surfaced and summarized, meaning content quality and structure are now performance levers, not just hygiene. Media is still essential, but less about scale and more about precision. Ad spend rose ~24%, but conversion declined through the event as shoppers shifted into comparison mode. Sponsored prompts drove big engagement, but performance varied sharply by funnel depth-strong in lower-funnel use cases, weak in top-funnel browsing. Bottom line: Prime Day is shifting from a discount-driven event to a visibility-and-optimization exercise-where winners are defined less by how much they discount and more by how well they manage structure, media efficiency, and AI-era discoverability.   MENTIONED IN THIS EPISODE Connect with Senior Account Manager, Meg Scavo Connect with Retail Marketplaces Account Manager, Michael Childers Connect with Acadia's Director of Retail Media, Ross Walker Connect with our host, Julie Spear Connect with our host, Jordan Ripley Learn more about Acadia

Brian Szytel hosts Dividend Cafe on Thursday, June 25, describing a mixed but slightly positive market with a growth-to-value rotation as equal-weighted indexes outpaced cap-weighted, rates dipped, and oil rose slightly while Brent returned near pre US-Iran levels; despite one major AI semiconductor earnings beat lifting parts of the space, much of tech was down. He reviews heavy economic releases: May PCE inflation met expectations (0.4% headline, 0.3% core; core PCE 3.4% YoY), Q1 GDP was revised up to 2.1%, jobless claims beat expectations, durable goods fell as expected, and personal income and consumer spending exceeded forecasts, with five of six items better than expected. He highlights dividend growth using a 2000 S&P 500 example where a 1.2% yield grew to about 5.5% cash-on-cash over 26 years, and discusses private credit redemption gates, diversification, and software-sector stress as a key risk versus a systemic collapse. 00:00 Market Snapshot 01:03 Economic Data Rundown 02:36 Value Rotation Drivers 02:45 Dividend Growth Power 04:36 Ask TPG Private Credit 05:11 Run on Bank Explained 06:49 Wrap Up and Weekend Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com

This week on Inside the Economy, we dive into the shifting dynamics of consumer spending, housing, capital markets, and global trade. Data shows that retail and gasoline spending have surged to become major drivers of year-over-year spending growth, pushing total monthly growth toward the 6% mark in early 2026 alongside steady services spending. Where would our economic growth stand without these two volatile categories? Meanwhile, this broader economic resilience is spilling into the housing market, where falling mortgage rates and moderating prices have propelled existing home sales to their fastest pace of the year. This raises a critical question for hopeful buyers and investors alike: is this renewed demand about to send median home prices soaring out of reach once again, or can the market maintain its delicate balance? On the capital markets front, net U.S. equity issuance is projected to experience a notable surge throughout the remainder of the year, rising at its fastest pace since at least 1999. While headline-grabbing mega-IPOs like SpaceX are fueling this supply shock, what other massive public debuts are waiting in the wings to reshape investor portfolios? Finally, a historic milestone has been reached in the energy sector, where solar power officially surpassed coal in the U.S. electricity generation mix for the very first time. This monumental shift leaves energy investors with one pressing question: is this the permanent twilight of coal's dominance, or could seasonal grid demands trigger a short-term comeback? Tune in to learn more. Key Takeaways: • Unemployment remains at 4.3% • Crude Oil dipped below $73.79 per barrel • CPI Core at 2.9% (YoY)

Patrick Moorhead and Daniel Newman return from a packed week of travel, covering HPE Discover 2026 and Pure Accelerate hosted by Everpure. They break down the government-forced shutdown of Anthropic's Mythos 5, the Apple-Intel foundry signal, the xAI-Cursor acquisition, and whether enterprise AI spending is actually contracting or simply concentrating. Episode 309 of The Six Five Pod covers the week's events, market moves, and the structural questions that follow. The handpicked topics for this week are: Anthropic Mythos 5 Forced Shutdown: The U.S. government issued a 90-minute compliance window and a worldwide kill switch on Anthropic's Mythos 5 and Claude Fable 5 models, forcing them offline across all geographies. Patrick and Daniel examine what this means beyond the immediate headlines: model access has entered the same geopolitical variable set as semiconductor export controls, and every enterprise CIO now has a new on-premises infrastructure argument on the table. The shutdown also surfaced an unexpected counterpoint from the cybersecurity community, which argued that Mythos 5, operating in a defensive capacity, was itself a protection layer against the use of adversarial models. Anthropic's decision to revoke access globally rather than implement citizenship-based authentication reflected both the 90-minute timeline and the practical impossibility of real-time identity verification at scale. (The Decode) HPE Discover 2026: The Agentic Infrastructure Story: Six Five Media spent multiple days at HPE Discover in Las Vegas, live-streaming coverage that drew more than 30,000 viewers across the event. Patrick and Daniel break down HPE's most complete agentic stack story to date, covering its networking-led compute approach, expanded NVIDIA and Broadcom silicon partnerships, autonomous networking through Marvis, and Juniper's integration into the AMD Helios interconnect as a path into hyperscale deals HPE previously lacked access to. (The Decode) Pure Accelerate 2026 and the Everpure Data Primacy Pitch: At Pure Accelerate, Everpure made its clearest case yet for a data intelligence layer designed to reduce token costs in enterprise AI workflows by operating across any storage vendor, any enterprise application, and without being hard-coded into the underlying array. Patrick and Daniel assess the value proposition and the proof burden separately: the concept is differentiated, particularly against Snowflake and Databricks, in that Everpure does not require its own storage hardware, but the company still needs to demonstrate ROI at scale and earn permission to compete in a market where data platform players have already established category positioning. (The Decode) Apple and Intel: The 18AP Signal and What It Sets Up for 14A: The announcement that Apple will manufacture chips with Intel sent Intel's stock up roughly 10%. The hosts parse what that deal likely looks like in practice: 18AP as a test drive for lower-risk logic-layer parts, with the more consequential milestone being a potential M7 SoC on Intel's 18AP process. The underlying driver is the TSMC capacity constraint, with Samsung logic deals picking up across the industry for the same reason. The real inflection point that Patrick notes is 14A: if Intel's backside power delivery process reaches risk production and scales to iPhone volume by 2028, the strategic weight of the Apple relationship will fully materialize. (The Decode) xAI Acquires Cursor for $60 Billion: Elon Musk's xAI acquired Cursor for $60 billion using equity inflated by SpaceX's IPO run-up, a move Patrick characterizes as buying market position in a category where xAI arrived late, having missed the window on thinking models and tool calling. Cursor brought $4 billion in ARR, 7 million monthly active users, and 50% Fortune 500 penetration into the deal. The open question remains whether xAI can convert that installed base into a durable enterprise AI stack or whether it remains primarily a GPU capacity provider selling at well above neo cloud market rates, with the Google-SpaceX deal drawing additional scrutiny as a related-party transaction preceding the IPO. (The Decode) The Flip: Is Enterprise AI Spending Contracting or Concentrating? Patrick takes the position that enterprise AI is entering a rationing phase, pointing to Accenture's bookings decline, Microsoft cutting developer access to cloud code, Uber blowing through cloud licenses, and the emergence of AI cost management as a venture category as converging proof points. Daniel argues the opposing case: dollar volume is growing even as project counts fall, hyperscaler CapEx guidance continues to accelerate across Microsoft, Google, Amazon, and Meta, and what reads as contraction is the market moving from subsidized pilots to production deployments tied to measurable P&L outcomes. Both agree the hard ROI era is arriving, and the real debate is whether that transition reads as discipline or deceleration on the way in. (The Flip) Fed Chair Kevin Warsh's First Meeting: New Fed Chair Kevin Warsh held rates steady in a unanimous decision but delivered remarks that the market viewed as hawkish, sending the S&P lower and two-year yields up 16 basis points before a partial recovery the following day. Patrick and Daniel note the structural signal beneath the reaction: Warsh is establishing the Fed's independence from political pressure while also signaling an intent to move away from survey-based data that arrives three to six months stale, in favor of more real-time economic inputs. Daniel draws a direct line to the kind of forward-looking data infrastructure that firms like Palantir, Databricks, and Snowflake are positioned to provide at the institutional level. (Bulls and Bears) Iran-Israel-U.S. Developments and Oil Below $80: A Memorandum of Understanding between Iran, Israel, and the U.S. briefly sent oil below $80 and signaled a potential opening of the Strait of Hormuz, though by the time of recording, reports were already emerging that the situation may be reversing. Patrick and Daniel keep it brief: the market has largely looked through the geopolitical noise, rallying through the period of conflict, and the oil price signal matters more to the macro environment than the diplomatic specifics. (Bulls and Bears) Accenture Earnings — The Services Layer Faces the Agentic Reckoning: Accenture beat on earnings but missed on revenue. The company reported a bookings decline of 2%, trimmed its 2026 revenue guide by 3-4%, and saw its worst single-day stock reaction in years. Patrick and Daniel use the result as a structural lens rather than a single-quarter data point: agentic AI and enterprise technology vendors are absorbing exactly the work that large professional services firms have historically owned, and the market is beginning to price that displacement ahead of the labor data catching up. Patrick flags this as the canary in the coal mine for the global services industry broadly. (Bulls and Bears) SpaceX IPO Volatility and Valuation Reality: The SpaceX IPO debuted at $135, surged above $210 on its first day of trading, and finished the week around $181. At its peak, the company briefly surpassed the market capitalizations of both Amazon and Microsoft before pulling back. Patrick and Daniel unpack the gap between the premium investors are assigning to Elon Musk and the company's underlying fundamentals. Despite generating roughly $50 billion in annual revenue, SpaceX remains unprofitable, and upcoming lock-up expirations could introduce meaningful volatility, particularly on the downside. Patrick points to long-term comparisons with Amazon and Tesla, while noting that many retail investors are still near break-even. The discussion explores how much of SpaceX's valuation is based on future potential versus current performance—and how much room remains for investor expectations to reset before fundamentals catch up. (Bulls and Bears) Watch the full video at sixfivemedia.com, and be sure to subscribe to our YouTube channel so you never miss an episode. The Decode  US Government Forces Anthropic to Disable Claude Fable 5 + Mythos 5 Worldwide — First-Ever Federal Shutdown of a Commercial Frontier AI Model; 90-Minute Compliance; EU + UK Sovereign-AI Talks Accelerate https://www.anthropic.com/news/fable-mythos-access  HPE Discover 2026 — Neri Bets the Company on Networking as the AI Control Plane; Juniper Integration Operational; Vultr Standardizes on HPE + NVIDIA https://www.crn.com/news/networking/2026/hpe-ceo-antonio-neri-five-boldest-statements-from-hpe-discover-2026 Everpure - Pure//Accelerate 2026 — First Conference Under New Name; "Data Primacy" Vision; Data Stream Built on NVIDIA AI Data Platform; Data Intelligence GA https://www.prnewswire.com/news-releases/everpure-unveils-data-primacy-architecture-for-the-ai-era-302803097.html  Apple's Chip Supply Chain Realigns in One Week — Intel 18A-P Enters Risk Production June 16; White House Confirms Apple-Intel Foundry Deal June 18 (INTC +9% to Record $135); Cook Says iPhone/Mac/iPad Price Hikes "Unavoidable" on RAM Crunch https://www.investing.com/analysis/appleintel-chip-manufacturing-deal-reshapes-foundry-race-200682398 SpaceX Buys Cursor for $60B All-Stock Four Days After IPO — Largest Developer-Tooling Acquisition Ever; Cursor at $4B ARR / 50%+ Fortune 500; Musk's xAI Loses the Code War, Buys the Winner https://www.cnbc.com/technology/ The Flip Are enterprise AI budgets contracting — is the procurement boom ending and the rationing phase beginning? FOR: Yes — Accenture cut its guide and bookings declined today; Uber blew through AI budget in months; Meta killed its leaderboard. https://www.businesswire.com/news/home/20260618029271/en/Accenture-Reports-Third-Quarter-Fiscal-2026-Results AGAINST: No — AI infrastructure capex is accelerating; enterprise demand is supply-constrained, not budget-constrained. https://ca.investing.com/news/stock-market-news/stifel-raises-jabil-stock-price-target-to-460-on-ai-growth-93CH-4698089 Bulls & Bears MACRO — FOMC Chair Kevin Warsh's Inaugural Meeting: Unanimous Hold at 3.5–3.75%, Statement Stripped of Cutting Bias; Dot Plot Flips to a 2026 HIKE at 3.8% Median; Warsh Refuses Own Dot; Worst Fed Day for a New Chair Since 1994 https://www.cnbc.com/2026/06/17/fed-meeting-today-live-updates.html  MACRO — Oil Cracks Below $80: Brent $78 (3-Month Low), WTI $75; US-Iran 14-Point MoU Signed at Versailles; Strait of Hormuz Reopening; IEA Projects 5.05 Mbpd Supply Glut in 2027 https://finance.yahoo.com/economy/policy/articles/oil-plunge-below-80-already-174253019.html Accenture (ACN) Q3 FY26 ACTUALS — EPS $3.80 Beats $3.70 (+9% YoY); Revenue $18.72B Slight Miss; Bookings DECLINE −2% to $19.3B; FY26 Guide Trimmed to 3–4% Local; Stock −13.3% Open; $9B Cybersecurity Acquisition Push https://www.businesswire.com/news/home/20260618029271/en/Accenture-Reports-Third-Quarter-Fiscal-2026-Results  SpaceX (SPCX) Post-IPO Trading Action — Melt-Up to $225.64 Tuesday Intraday Briefly Surpasses Amazon at $2.85T; Round-Trips to $192 by Wednesday Close on Fed Hawkish Pivot; Morningstar Fair Value $62 (~69% Implied Downside) https://www.cnbc.com/2026/06/15/evercore-isi-says-landmark-spacex-ipo-could-reignite-bull-market-send-sp-500-to-9000.html  

Ryan Peterson is the Founder & CEO @ Flexport, the logistics darling of the venture capital world that has raised $900M+ with the last round valuing the company at $8BN. Today, the company does $450M in revenue growing 30% YoY.  AGENDA:  00:00 — Why Does Ryan Petersen Call Remote Work "White Collar Fraud"? 08:30 — Does Having More Money Actually Make You a Better Founder? 11:40 — When Will Flexport IPO? What Price Would It Go Out At? 19:00 — Can AI Actually Automate Entire Companies or Is the Productivity Boom Overhyped? 22:00 — Which Jobs Will Exist in 5 Years That Don't Exist Today? 26:00 — OpenAI vs Anthropic: If Ryan Could Only Own One, Which Would He Buy? 27:45 — Are Chinese Open-Source Models a National Security Threat—or Is Silicon Valley Overreacting? 30:15 — The $500M Fundraising Mistake Ryan Wishes He Never Made 35:00 — Why Flexport Abandoned San Francisco & Remote Work Damaged Flexport's Culture 41:00 — Why Marketing Is the Hardest Executive Hire in Startups 43:00 — Do Great CEOs Hate HR? 46:00 — Why Most Startup Founders Hire Executives Too Early 48:00 — What Ryan Learned Investing Alongside the Greatest YC Founders 55:00 — The Single Biggest Mistake Founders Make When Fundraising 1:09:00 — Does Founder Brand Actually Drive Enterprise Value? 1:11:00 — What Makes a Great Board Member—and Why Most Boards Add Negative Value 1:13:00 — The Sports Team Ryan Dreams of Buying Just to Troll His Biggest Competitor  

Silicon Bites Ep356 | 2026-06-20 | On 12 June 2026, Vyacheslav Markhayev — Communist Party of the Russian Federation, sitting State Duma deputy, former Buryat OMON riot-police commander, former colonel of the Russian Interior Ministry — published a Telegram statement that, by the standards of the Russian state in 2026, should have produced an immediate Article 280.3 dissemination-of-false-information prosecution. Cross-confirmed across Meduza (12 June 2026), The Moscow Times (12 June 2026), Kyiv Post (12 June 2026), Novaya Gazeta Europe (12 June 2026), the statement read in part — and we paraphrase to preserve the substance:----------ACTIVE CAMPAIGN:We are raising funds for 5 of 15 Vampire DronesSilicon Curtain for Kupiansk Vampires. Dzyga's Paw, together with Jonathan Fink, is joining forces to raise $40,000 to provide the Khartiia Brigade with Vampire Drones.https://dzygaspaw.com/silicon-curtain-for-kupiansk-vampiresThese heavy bombers are designed to destroy manpower and equipment, as well as for remote mining. The Vampire UAV, manufactured by Skyfall, has proven itself to be one of the most effective weapons in the Kupiansk direction. Skyfall is one of Ukraine's largest defense tech companies, producing Vampire bomber drones, various modifications of Shrike FPV drones, P1-SUN, Shahed drone interceptors, communication systems, and components.----------SUPPORT THE CHANNEL:https://www.buymeacoffee.com/siliconcurtainhttps://www.patreon.com/siliconcurtainhttps://www.gofundme.com/f/scaling-up-campaign-to-fight-authoritarian-disinformation----------TRUSTED CHARITIES ON THE GROUND:Save Ukrainehttps://www.saveukraineua.org/Superhumans - Hospital for war traumashttps://superhumans.com/en/UNBROKEN - Treatment. Prosthesis. Rehabilitation for Ukrainians in Ukrainehttps://unbroken.org.ua/Come Back Alivehttps://savelife.in.ua/en/Chefs For Ukraine - World Central Kitchenhttps://wck.org/relief/activation-chefs-for-ukraineUNITED24 - An initiative of President Zelenskyyhttps://u24.gov.ua/Serhiy Prytula Charity Foundationhttps://prytulafoundation.org----------SOURCES:Michael Naki — long-form video analysis of 18 June 2026Meduza English — "Communist Party lawmaker warns Russia is 'on the brink of a social explosion' and demands a 'clear plan' to end the war" (12 June 2026) The Moscow Times — Markhayev statement coverage (12 June 2026).Kyiv Post — "Russian Lawmaker Warns of 'Social Explosion' Amid War Losses, Demands 'Public Plan' to End War" (12 June 2026).Eurasia Review — "Russia 'On Brink Of Social Explosion' Because Of Kremlin Policies Over The Last 25 Years – OpEd" (14 June 2026) Novaya Gazeta Europe — Markhayev statement and Russian-language criticism coverage (12 June 2026).The Moscow Times via Charter97 and Dagens.com — VTsIOM stopped publishing the open Putin trust rating after it fell to 29.5% in early April 2026; methodology change to door-to-door canvassing in mid-May 2026; closed-rating still at ~73% (8 June 2026).Mezha (Bukvy) — "VTsIOM halted open Putin approval rating after it fell below 30%" — methodology comparison between open recall and direct trust polling.Kyiv Independent — "Russian pollster stops publishing Putin's 'open trust' figures as ratings slide" (8 June 2026).Kyiv Independent — "Leaked Kremlin reports predict rising dissatisfaction with Putin, Zelensky claims" (14 June 2026)Kyiv Post — "Leaked Forecasts: Putin Faces Soaring Disapproval Ahead of Fall Elections" (14 June 2026)Janis Kluge via Yahoo / Daily Mail — Q1 2026 military spending analysis: 5.9 trillion rubles = 46% of federal budget = 30% YoY increase; military = two-thirds of revenues; oil/gas revenues -45% YoY; classified-spending category +40% to 40% of all expenditure; 12% of GDP per quarter on war.----------

In this quarterly industry roundtable, Eric Malzone, Juliet Starrett, and Alex Alimanestianu dive deep into the fitness sector's biggest earnings reports and emerging trends. Lifetime Fitness continues its premium brand strategy with impressive revenue growth while strategically shedding lower-tier memberships, but Planet Fitness faces headwinds with declining membership growth and a paused price increase. The team dissects Xponential's mounting troubles as the company burns through cash amid a New York AG settlement, while Garmin's fitness segment absolutely crushes it with 42% revenue growth. CrossFit's future looks brighter with Bruce Edwards returning as CEO—an affiliate owner who actually understands the community. The conversation heats up around retatrutide's bariatric-level weight loss outcomes and what GLP-1s mean for the fitness industry's identity, plus Peter Attia's meta-analysis proving two weekly resistance training sessions deliver 77% of maximal gains. From Peloton's Pilates pivot to Aescape's robotic massage collapse, this episode covers the strategic shifts, financial realities, and cultural transformations reshaping fitness in 2026.

Most SaaS founders in the messy middle are making the same expensive mistake — building first and validating never. In this episode, Jeff Mains sits down with Corinne Kavanagh, founder of CAC Media & Publishing and former Microsoft Azure Data team contributor (part of a team that drove $500M+ in revenue with 76% YoY growth), to unpack what it actually takes to scale past the growth plateau.Corinne shares why your top-of-funnel obsession may be quietly killing your growth, how to validate demand before writing a single line of code, and why a fractional CMO may be the smartest hire you're not making. She also introduces her CARE re-engagement method, her SaaS Marketing Playbook, and the SCALE framework for building an AI-first marketing department without homogenizing your brand.If your business is growing and suffocating at the same time, this episode is for you.Key Takeaways0:24 — Welcome & episode framing: Why the messy middle is where most SaaS companies stall out3:22 — Guest intro: Corinne Kavanagh, founder of CAC Media, fractional CMO firm for SaaS & tech companies4:10 — Startups vs. enterprise: What big companies do differently — and what smaller companies can learn from retail validation models5:12 — Feature prioritization trap: Why founders rush to build before validating demand, and how to use micro-testing ($5–$10 ad spend) to validate before committing resources15:30 — Pre-development checklist: ICP study → messaging tests → distribution partner conversations → pricing research → competitive analysis17:09 — Competitor vs. customer time allocation: Why founders should be "in all channels" — and how AI tools can automate competitive monitoring23:04 — AI modernization in marketing: Efficiency gains without sacrificing brand authenticity — plus the importance of an AI use policy23:49 — Early churn warning systems: The retention play most SaaS teams ignore — and how to re-engage customers before they leave24:24 — The CARE Method: Corinne's re-engagement framework for growing lifetime value and sealing the leaky bucket25:08 — Account-based marketing (ABM): Why a focused list of 100 ideal accounts beats a massive TAM for execution27:01 — Growth plateaus: How to read your revenue chart — what "bubbles" mean vs. a flat line, and what each signals about your acquisition and retention engines29:48 — Aligning marketing, product & sales: Breaking down the wall between sales and marketing through co-invention, shared messaging, and CMO-level integration40:38 — The SCALE Framework: How to build an AI-first marketing department without producing brand slop45:24 — #1 marketing shift for 2026: Stop running your company — start building systems that run it for youTweetable Quotes"You can beat everyone else to market — but if your customer is not ready and chomping at the bit to buy it, it doesn't matter." — Corinne Kavanagh"Stop thinking about top of funnel only. Retention is half the story, and most SaaS companies are ignoring it." — Corinne Kavanagh"A consultant does a drive-by. They drop strategy and leave. That's not how you actually scale." — Corinne Kavanagh"If you're in the feature rat race, step back. Ask yourself: am I creating a category, or just chasing competitors?" — Corinne Kavanagh"Your marketing team should feel responsible for the P&L — not just the pipeline." — Corinne Kavanagh"Don't give sales a playbook and say 'go sell it.' Alignment has to be co-invention, or no one buys in." — Corinne Kavanagh"The most dangerous thing you can do with your runway right now might be shipping the next great feature." — Jeff Mains"Pretend you have a $200M company. What would you stop doing that you're doing right now?" — Corinne KavanaghSaaS Leadership Lessons1. Validate demand before you build — always. Retail companies won't spin up a new product line without marketplace testing. SaaS founders should apply the same discipline. Run micro-ads ($5–$10), talk to a pre-engagement cohort, and confirm that desire is "fiery enough to click the buy button" before writing a line of code.2. Your leaky bucket is as dangerous as an empty funnel. Pouring money into top-of-funnel while ignoring churn is a losing strategy. Build early churn warning systems using platform data (login frequency, monthly active users) and re-engage customers proactively before they silently leave out the back door.3. Bring marketing into R&D — not just into launch. Marketing shouldn't receive a finished product and be told to "figure out how to message it." A CMO-level voice in early R&D conversations means better competitive analysis, more relevant feature decisions, and messaging that actually lands in the marketplace.4. Break down the wall between sales and marketing. The old grudge match — "sales can't close our leads" vs. "marketing gives us garbage" — is a systems failure. Solve it through collaborative co-invention: shared meetings, shared messaging, and shared accountability for what's working.5. Category creation beats feature competition. If you're in a feature rat race with competitors, you've already lost the game. Step back and ask: how do we position ourselves so far apart from the competition that comparison becomes irrelevant? Companies like WooCommerce and GoDaddy didn't win by having more features — they won by creating new categories.6. Systems are your most important 2026 marketing investment. The #1 shift every SaaS founder needs to make: stop running the machine manually. Build systems around what's consuming your time, project forward to what a 100X customer base would require, and install those systems now. That's what gets you out of the messy middle for good.Guest Resourcescc@cac-media.comhttps://cac-media.comhttps://www.linkedin.com/in/corinnefss/https://www.instagram.com/corinnecava/https://twitter.com/Corinne_C_WAEpisode SponsorThe Futureproof Series - https://www.youtube.com/playlist?list=PLfkXKUPZ5xuOqMPR7_gzGybncTtavyR1NThe Captain's KeysSmall Fish, Big Pond – https://smallfishbigpond.com/ Use the promo code ‘SaaSFuel'Champion Leadership Group – https://championleadership.com/SaaS Fuel ResourcesWebsite - https://championleadership.com/Jeff Mains on LinkedIn - https://www.linkedin.com/in/jeffkmains/Twitter - https://twitter.com/jeffkmainsFacebook - https://www.facebook.com/thesaasguy/Instagram - https://instagram.com/jeffkmains

Geoff shares how Gong cha grew from a single tea shop in Taiwan to over 2,200 locations across 33 countries by staying obsessive about product quality, franchisee passion, and delivering a personalized guest experience at every touchpoint. He breaks down what it takes to scale a globally loved brand into the US market, how Gong cha 2.0 is redefining the in-store experience with technology and design, and why consistency from the tea farm to the handoff moment is the foundation of lasting brand loyalty. Welcome to Elevating Brick and Mortar. A podcast about how operations and facilities drive brand performance. On today's episode, we talk with Geoff Henry, President of the Americas at Gong cha. With over 20 years in the beverage industry spanning Colgate-Palmolive, Coca-Cola, and Jamba Juice, Geoff brings a rare combination of global brand-building expertise and franchise operations know-how to one of the world's fastest-growing bubble tea concepts. Guest Bio: Geoff is a seasoned executive with over 20 years of experience leading many of the world's most recognized consumer brands, including Jamba, Coca-Cola, Colgate, Dasani, Dunkin' bottled coffee, and Gold Peak and Honest teas. Adept at scaling businesses and cultivating collaborative teams, Geoff joined Gong cha in 2023 as President of the Americas region—which includes over 400 locations in the territory, and 225 in the U.S. Under his leadership, Gong cha grew its U.S. store count by 19% YOY, was ranked #1 in the Tea category on Entrepreneur magazine's prestigious Franchise 500® list for the third consecutive year (2024), and awarded category winner of Top Food & Beverage Franchises in the Global Franchise Awards (2023). Prior to taking the helm at Gong cha, Geoff was President of Jamba, where he successfully integrated the company into Focus Brands and led its digital transformation. During his tenure, he returned the brand to growth—driving topline sales, and increasing its development pipeline. Prior to Jamba, Geoff was a senior executive with Coca-Cola for over twelve years, where he oversaw the company's portfolio of water, tea and coffee brands for the U.S. He transformed their tea portfolio to capture the #2 market share position, while also pioneering the company's entrance into the ready-to-drink coffee category. Geoff received his undergraduate degree from Duke University and his MBA from Harvard Business School. He currently serves on the board of advisors for PayQuicker, a global payments platform. TIMESTAMPS: 00:59 - About Gong cha: Brand, services & history 03:14 - Geoff's career journey: Coca-Cola, Jamba Juice & the path to Gong cha 07:36 - Gong cha's North Star 15:20 - Gong cha 2.0: New store design, kiosks, & technology 21:20 - Franchise selection & site strategy 32:37 - Macro trends: Pace of innovation, social media, & AI 38:51 - What's next for Gong cha: Path to 1,000 US locations, licensing & brand expansion SPONSOR: ServiceChannel brings you peace of mind through peak facilities performance. Rest easy knowing your locations are: Offering the best possible guest experience Living up to brand standards Operating with minimal downtime ServiceChannel partners with more than 500 leading brands globally to provide visibility across operations, the flexibility to grow and adapt to consumer expectations, and accelerated performance from their asset fleet and service providers. LINKS: Connect with Geoff Henry on LinkedIn Follow Gong cha on Instagram Follow Gong cha on LinkedIn Connect with Sid Shetty on Linkedin Check out the ServiceChannel Website Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links —Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.

Bitcoin sparked its first real relief rally of the cycle this weekend — pumping from sub-$60,000 lows up to $63,700 and crushing $504 million in shorts in 24 hours (the biggest single-day short squeeze since late April) — but the bounce is already losing steam as fresh Iran-Israel strikes shatter the April ceasefire, sending oil up over 3% to $96 and Korea's KOSPI crashing nearly 9% in three minutes. This week's macro calendar is brutal: Wednesday's U.S. CPI print is expected to jump to 4.2% YoY (from 3.8%) — a hot reading locks in a restrictive Fed and could deepen the record ETF outflow streak — plus the ECB hikes to 2.25% Thursday, the CLARITY Act enters full Senate floor debate all week, JPMorgan/BofA/Citi just unveiled their own bank-backed tokenized network as a defensive move against stablecoins, massive token unlocks (HumidiFi unlocking 111.59% of supply Tuesday alone, HYPE $673M) pile selling pressure on already-weak markets, and global central banks have pushed gold holdings to the highest level this century. We break down whether $504M of squeezed shorts marks the cycle bottom or just a dead-cat bounce before the next leg down, what a hot CPI print means for Bitcoin's $60K floor, and which catalysts this week could finally turn the tape. Learn more about your ad choices. Visit megaphone.fm/adchoices

Linktree: ⁠https://linktr.ee/Analytic⁠Join The Normandy For Ad-Free NME, Additional Bonus Audio And Visual Content For All Things Nme+! Join Here:⁠ ⁠⁠https://ow.ly/msoH50WCu0K⁠ In this segment, Analytic Dreamz delivers a detailed breakdown of Take-Two Interactive's Q4 FY2026 earnings and the official lock-in of Grand Theft Auto VI. GTA VI is now confirmed for November 19, 2026 on PS5 and Xbox Series X/S, with the marketing campaign launching Summer 2026. Take-Two reaffirmed the date multiple times during the earnings call, calming delay concerns.Analytic Dreamz covers the strong financial results: Q4 revenue of $1.68 billion (beat estimates), net bookings of $1.58 billion, full-year revenue reaching $6.66 billion (+18% YoY), and record net bookings of $6.72 billion. GTA V has surpassed 225-230 million lifetime sales with nearly $10 billion in revenue, while GTA Online continues driving growth with recurring spending making up 82% of Q4 bookings.The segment explores FY2027 guidance, the massive pipeline of 6 launches in FY27 and 22+ titles through FY2029, Red Dead Redemption 2's 85 million sales, mobile performance, PC version speculation, and key investor concerns around margins and execution. Analytic Dreamz breaks down why Take-Two enters the GTA VI era financially stronger than ever. Essential listening for investors, gamers, and anyone tracking the biggest entertainment launch in history. Privacy & Opt-Out: https://redcircle.com/privacy

Pope Leo XIV released his AI encyclical alongside Anthropic co-founder Chris Olah. Huawei claims it can match 1.4nm chips by 2031, China imposed travel restrictions on AI talent, cybersecurity hiring surged amid the AI "bug-pocalypse," and American Airlines picked Starlink for in-flight Wi-Fi. Pope Leo XIV presents Magnifica humanitas, his encyclical on AI, calling for AI regulation, protection for children against hypersexualized AI images, and more (NYT) Huawei says it aims to make 1.4nm chips by 2031 using its "LogicFolding" tech, which is based on its new Tau Scaling Law intended to bypass Moore's Law limits (Nikkei) Sources: Chinese government agencies begin imposing overseas travel restrictions on individuals involved in advanced AI work, including at Alibaba and DeepSeek (Bloomberg) As AI tools like Mythos create a "bug-pocalypse", Glassdoor says Q1 cybersecurity job postings rose 11% YoY, and executive search firms are turning away clients (NYT) American Airlines picks SpaceX's Starlink for in-flight Wi-Fi on more than 500 planes; SpaceX already has contracts with United Airlines, Southwest, and others (CNBC) Google Fitbit Air review: slim, comfortable, and stylish, robust tracking, seven-day battery life, and cheaper than Whoop, but can only be worn on the wrist (The Shortcut) Learn more about your ad choices. Visit megaphone.fm/adchoices

Quantum computing stocks surged after the US announced $2B in grants with equity stakes. Spotify jumped 13% on 2030 guidance targeting $100B in revenue. Anthropic expects $10.9B in Q2 revenue and its first-ever operating profit, while Trump pulled back an AI executive order after calls with Musk and Zuckerberg. Shares of quantum computing companies surged Thursday after the US government announced grants with equity stakes: D-Wave closed up 33%, Rigetti 30%, IBM 12% (CNBC) Spotify closed up 13% on Thursday after announcing new features and 2030 guidance, forecasting a compound annual growth rate in the mid-teens (CNBC) Workday reports Q1 revenue up 13% YoY to $2.54B vs. $2.52B est., and lifts its full-year forecast, saying its AI strategy is working; WDAY jumps 9%+ after hours (CNBC) Sources: Trump delayed signing the AI EO because "he just hates regulation"; there were questions about the EO giving the Treasury Department a leading role (Axios) Investor disclosures: Anthropic says it expects to generate $10.9B in revenue in Q2, up 127% from $4.8B in Q1, and turn a $559M operating profit, its first ever (WSJ) Longreads In more than two-thirds of the world's countries, birthrates have fallen below replacement, and researchers increasingly point the finger at smartphones and social media (FT) Learn more about your ad choices. Visit megaphone.fm/adchoices

SpaceX filed publicly for its IPO on Nasdaq, revealing $18.7B in 2025 revenue, billions in losses, and Musk's 85.1% voting control. Anthropic pays SpaceX $1.25B per month for compute. Nvidia beat estimates again, Spotify launches Reserved ticketing, and Waymo suspends service over flooding. SpaceX files publicly for its IPO, choosing Nasdaq to make its debut under the symbol SPCX; Elon Musk's shares give him 85.1% of the voting power in the company (Bloomberg) SpaceX's S-1 reveals Anthropic is paying $1.25B per month through May 2029 under their Colossus compute deal, with a 90-day termination clause (The Verge) Spotify partners with Live Nation to launch Reserved, a new feature that sets aside tickets for the most dedicated fans, starting with Premium users in the US (Hollywood Reporter) Spotify debuts a desktop app for creating personal podcasts, competing with Google's NotebookLM, with support for daily briefings based on email and calendar (TechCrunch) Nvidia reports Q1 revenue up 85% YoY to $81.62B, above $78.86B est., Data Center revenue up 92% YoY to $75.2B, and announces an $80B share repurchase program (Nvidia) Waymo suspends operations in Atlanta and San Antonio as its robotaxis struggle with flooded roads and says it has yet to develop a "final remedy" for flooding (TechCrunch) Learn more about your ad choices. Visit megaphone.fm/adchoices

– Happy Memorial Day – A WARM DHU welcome to Kevin Warsh – good luck fella, you are going to need it sir. – The new transient inflation. – Another BOARD? These guys like to make exclusive clubs… PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter Warm-Up - Happy Memorial Day - A WARM DHU welcome to Kevin Warsh - good luck fella, you are going to need it - The new transient inflation - Another BOARD? These guys like to make exclusive clubs... Markets - Starting to come in a bit..... - Yield curve steepening - potential for a hike over cuts - YIELDS! - Fuels running low - we have the list OH MY... - The 30-year U.S. Treasury yield has surged to around 5.14%, putting it at its highest level since the run-up to the 2008 financial crisis - Bets are pricing in the increasingly possibility of it reaching 5.5% to 6%, which would mark the highest levels since late 1999 - 30-Year mortgage near 6.35% (average) - DOWN from 6.91% at start of 2026 30-Year Yield Bored of Boards - The Board of Peace - remember that one? That was established in 2025 with 15+ countries that pitched in $1 billion for permanent seat - Indefinitely chaired by President Trump, the governing board is a mix of U.S. officials and prominent American businessmen. - So much for the peace part of that.... - Now we hear about the Board of Investment ---The US and China are discussing a mechanism for fast-tracking some Chinese investment deals and a reduction in tariffs on non-critical goods. - Treasury Secretary Scott Bessent mentioned a "Board of Investment" that will be responsible for investment in non-sensitive areas. - The idea of the "Board of Investment" is to have a mechanism that could allow deals that wouldn't need to be referred to the Committee on Foreign Investment in the United States. - In other words - working outside of the established channels that primary function is to determine whether these transactions pose risks to U.S. national security. IRAN - On and off as usual - Cancelled a scheduled bombing? - President Trump speaking with reporters says he will know "soon" if U.S. needs to give Iran another big hit; says Gulf states are helping with negotiations; says Iran keeps agreeing to things and changing their mind; says Iran has 2-3 days to make a deal - This is the parental attempt to manupluate a child - I am going to count to THREE.... 1-2-3-4-5-6 China Trip - Chinese President Xi Jinping warned U.S. President Donald Trump on Thursday that the U.S. and China “will have clashes and even conflicts” if the long-standing issue of Taiwan's independence is mishandled. - Speaking just ahead of Trump, Xi noted the global attention on the meeting, and said a major question for the two countries was whether they could avoid the “Thucydides Trap,” according to an official English translation of his remarks broadcast by CCTV. - The Thucydides Trap refers to how tensions historically between a rising and ruling power have often resulted in a war. Some Observations - Veggie Prices are off the charts --- Cauliflower $9, Carrots $6 small bag (not organic) - - Favorite produce store noticed things going bad.... Realized that people are not buying stuff PPI Inflation - HOTTTTTTTT - Headline MoM: +1.4% - YoY: +6.0% - Core PPI (ex food & energy): about +1.0% MoM - Energy was a big part, but services also saw a large move - Highest monthly increase since march 2022 --- In reaction bonds are selling off - highest on 10 and 30 year since March 2024 (10 YR Broke above 4.65) Outbreak - An Ebola outbreak in the Democratic Republic of Congo and Uganda has been declared a public health emergency of international concern by the World Health Organization - 80 deaths were attributed to the disease. - Outbreak does not meet pandemic criteria, WHO says - Eight laboratory-confirmed cases and 246 suspected cases - At least six Americans in the DRC have been exposed to the Ebola virus, with three exposures deemed high risk WHAT? - One of the highest margin foods, pizza and pasta - Domino's Pizza, is among the pizza giants whose franchisees have filed for bankruptcy - Papa Johns: We have identified approximately 300 underperforming restaurants across North America that are not meeting brand expectations or lack a clear path to sustainable financial improvement, as well as locations where we can effectively transfer sales to a nearby restaurant - Pizza Hut, which also hasn't filed for bankruptcy (YET) , won't be left out of closings as the company's parent Yum! Brands in February said that it would close 250 underperforming locations as part of its Hut Forward plan in the first half of 2026. - PZZA down 65% over the past 5 years - The Papa John's board formally ousted founder and former CEO John "Papa" John" Schnatter in a series of steps culminating in July 2018 and March 2019 BONDS - Yields Spiking - U.S. Treasury yields spiked on Friday following a week of messy inflation data and as traders looked to price interest rate policy under new Federal Reserve Chair Kevin Warsh. - The yield on the 30-year bond jumped nearly 11 basis points to yield 5.121%, the highest since May 22, 2025, and nearing the highest since October 2023. - Japanese long-term bond yields have surged to multi-decade highs, with the 10-year Japanese Government Bond (JGB) hitting 2.8%—its highest level since October 1996 M&A Utilities - U.S. power companies NextEra Energy and Dominion Energy announced a plan to merge on Monday in a $66.8 billion deal that ?will form one of the world's largest electric utilities during an expansion of energy-intensive data centers to support artificial intelligence. - The all-stock transaction, which is pending ?regulatory approvals, is one of the largest-ever energy mergers. - Industry consolidation - -- This year, AES Corp agreed to be acquired by a consortium led by Global Infrastructure Partners and Swedish ?private-equity firm EQT AB for $33.4 billion. ---- That followed Constellation Energy's $16 billion deal with Calpine and Blackstone's $11.5 billion deal for TXNM Energy last year. SOYBEANS - Trump's visit to China yielded little in the way of anything - The United States expects China to sign up to buy "double-digit billions" worth of U.S. farm goods following a summit between Presidents Donald ?Trump and Xi Jinping in Beijing, U.S. Trade Representative Jamieson Greer said on ?Friday. - Greer noted the 25 million metric ton per year soybean deal agreed last October and said the U.S. also expects to "see an agreement for double-digit billion purchases of ags over the next three years per year ?coming out of this visit." - Soybeans and other commodity prices moved higher on Monday as the news was disseminated. CHYNA Deals? - Looks like Boeing got an order of 200 more planes from China. ---- The problem is that was much less that was expected -- Boeing was down on the news. - Some murmurs about China buying more energy (oil, gas) from US - - - There was also something said about President Xi asking about the US intentions of Taiwan Bessent - Transitory - Even with recent inflation news universally bad, Treasury Secretary Scott Bessent expects price pressures to ease soon, just in time for new Fed Chair Kevin Warsh to take over. -- Why are we listening to this crew? They have been wrong about everything - but say it with such confidence. - WAIT FOR IT...... - “I firmly believe that nothing is more transient than a supply shock, and we can, we can look through that, because before the Iranian conflict began, core inflation was coming down. - He noted that he sees substantial disinflation ahead ----- IF there is substantial disinflation that would be bad news as the economy will be slowing precipitously - could be problematic - so it is not clear what he is so excited about Earnings - NVDA is going to be position earnings Wednesday after the close - So far Semiconductor companies and storage companies have been saying that the orders keep flowing in and -  Wall Street analysts project EPS of $1.78 on revenue of $79.2 billion, representing a year-over-year revenue increase of roughly 80%. Open AI - Musk - R0und 1- Musk looses on what looks to be a technicality - Perhaps jurors were miffed that he skipped closing arguments and went to China instead (to be the the Trump Posse) - Naturally he is already discussing appeal Even more Create Financing - Google (GOOG/GOOGL) and Blackstone (BX) are drawing significant investor attention following the announcement of TPU Cloud, a new U.S.-based joint venture designed to commercialize GOOG's Tensor Processing Unit infrastructure at greater scale. - The partnership underscores the accelerating arms race in AI infrastructure, while also highlighting how hyperscalers are increasingly turning to alternative financing structures to fund the enormous capital requirements tied to next-generation AI compute expansion. Fuel Shortages - In case anyone thought otherwise - the Straight is till closed. Fuel Running Low - India: Severe LPG (cooking gas) shortages, rationing in many areas - Pakistan & Bangladesh: Critical LPG and diesel shortages - Southeast Asia (Thailand, Vietnam, Philippines, Indonesia, Malaysia): Jet fuel & diesel shortages, flight cuts - South Korea & Taiwan: Tight jet fuel and refined product stocks - Europe (especially UK): Jet fuel critically low, risk of flight cancellations - Africa (South Africa, Nigeria, parts of East Africa): Jet fuel and import shortages - CUBA - OUT Cooking Fuel (LPG) Shortages - India: Severe shortages, long queues, rationing - Pakistan: Critical LPG shortage, heavy rationing - Bangladesh: Major shortages, price spikes - Nepal & Sri Lanka: Supply cuts, half-filled cylinders common - Southeast Asia (Indonesia, Philippines, Thailand, etc.): Tight supplies and high prices - Africa: Sharp price increases, reduced affordability - Europe/US: Mostly higher prices, no major physical shortages Love the Show? Then how about a Donation? Announcing the THE CLOSEST TO THE PIN for SALESFORCE (CRM)   Winners will be getting great stuff like the new "OFFICIAL" DHUnplugged Shirt!     FED AND CRYPTO LIMERICKS   See this week's stock picks HERE Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter

The Musk v. Altman jury unanimously rejected Musk's claims on statute of limitations grounds. Andrej Karpathy joined Anthropic's pre-training team. Polymarket partners with Nasdaq on private company markets, Blackstone and Google form a TPU venture, and KPMG embeds Claude into tax advisory. Musk v. Altman: the jury unanimously rejects Elon Musk's claims against OpenAI and Sam Altman, as he filed them outside of a three-year statute of limitations (CNBC) Andrej Karpathy joins Anthropic to help launch a team focused on using Claude to accelerate pre-training research; he helped found OpenAI and worked at Tesla (Axios) Polymarket partners with Nasdaq to launch markets tied to private company milestones, including IPO timing, valuations, earnings, and secondary market activity (The Block) Blackstone announces a joint venture with Google to create a US company that will offer customers Google TPU access, and makes a $5B initial equity commitment (WSJ) KPMG partners with Anthropic to embed Claude into its tax and advisory platforms; KPMG's tax and legal services unit saw revenue grow ~8% YoY to $9.3B in 2025 (WSJ) Learn more about your ad choices. Visit megaphone.fm/adchoices

MARA provided updates for its AI business in its earnings this week, and Nebius shocks the market with a 684% rise in revenue YoY in Q1. Welcome back to The Blockspace Podcast! For news, we break down why major pools like MARA and viaBTC are signaling support for the Great Consensus Cleanup (BIP 54), plus Q1 earnings recaps for MARA and Nebius. For guest segments, Lucas Krejci, CTO of Brains, joins us to talk about the new Stratum V2 working group with Block, MARA, Foundry, Antpool, and other leading bitcoin mining firms. Pio Vincenzo also joins to give his bull case for Strategy – including why the company selling bitcoin is not what people think – and Mezo's Yogi hops on to give a breakdown for why Spirit Airlines bit the dust.

Instructure cut a deal with ShinyHunters to return stolen Canvas data, without disclosing the terms. eBay rejected GameStop's $56B bid as "neither credible nor attractive." OpenAI launches Daybreak for cybersecurity, Amazon employees game AI usage targets, and Mira Murati's first model drops. Instructure reaches a deal with hackers who breached its Canvas edtech platform to return stolen data and destroy copies, without saying what it gave in return (NYT) eBay rejects GameStop's $56B takeover offer, saying the unsolicited bid is "neither credible nor attractive", in a letter from eBay Chairman Paul Pressler (Bloomberg) OpenAI launches Daybreak, a cybersecurity initiative integrating AI models and Codex Security to help organizations patch vulnerabilities (TestingCatalog) Sources: some Amazon employees are using in-house OpenClaw-like tool MeshClaw for unnecessary tasks to inflate AI token use after Amazon set weekly AI targets (FT) AppMagic: Grok downloads fell to ~8.3M in April, from a high of 20M+ in January; Recon Analytics: Grok's paid adoption in the US remains nearly flat YoY in Q2 (WSJ) Thinking Machines Lab details interaction models, which can think and respond in real time, letting users and AI interact continuously for better collaboration (Thinking Machines Lab) Learn more about your ad choices. Visit megaphone.fm/adchoices