Can't tell if because of all this air time $CAKE daily CC data is about to inflect and its a long or is about to decel and its a short. There is something to do here it's just unclear what we should o

This might alarm a lot of people, but the quality of Italian food I’ve been having in NYC has been better than 90% of the meals I ate in Italy. This meal at Rezdora was incredible, and the chef worked under Massimo Bottura. Some of the best pastas and maybe best pork chop in NYC. This cuisine is from the Emilia Romagna region, where I spent 2 weeks this summer in Italy. This was better than almost anything I tried there.

The Cheesecake Factory is a great American institution. Tune in at 12:30 PM EST for a surprise. 🎶

The most mind blowing stat we've seen so far is this: "As of June 30, 2026, we had raised an aggregate of $141.1 billion of capital and had cash and cash equivalents of $112.4 billion and short-term investments of $19.3 billion." That means to date, they have burned 9.7b, they are growing at a rapid pace, and are profitable on an operating income basis as of the June quarter! This is likely the most efficient scaling of a business in the history of capitalism. xitter.cf/AnthropicAI/status/211…

Notable chart from Apollo today: 80% of the top 1% of AI spenders are VC-backed companies, per Ramp data, while the median spender is only 13% VC-backed. A lot of the heaviest AI spending is coming from investors’ money flowing through startups, not from ordinary businesses paying out of their own profits. Apollo calls it circularity. That’s fine while funding keeps coming, but it’s worth asking how much of today’s AI demand depends on it

Four Charles Prime Rib is the hardest reservation to get in NYC, maybe the world at that point. Everyone talks about the burger but I actually think it’s not even a top 3 dish if you know how to order.

Jon Gray breaks down 3️⃣ takeaways from $BX’s 3Q results: the firm once again delivered for clients, the underlying economy remains strong despite the rise in cost of capital, and scarcity of compute is supporting the value of AI infrastructure. 💪✨🏗️

Been a minute, but $ftai is literally modding aircraft engines into natural gas turbines for data centers? Can I ask, what’s the economic rationale? Are these end of life engines that wouldn’t be airworthy anyways?

BREAKING: Iran says it will strike oil facilities, undersea cables, datacentres and AI facilities across as many as seven countries in the Gulf in the event of a fresh US-Israeli attack

JUST IN: 15 out of 15 New York adult daycares audited by HHS had no records of meals, activities, or supervision despite receiving millions in Medicaid funding.

In San Fran this week, a few observations: - Per head alcohol spend at the mixer 40% below NYC - Never seen traffic in the city this gnarly. 45 minute Uber from SOMA to Presidio - Real energy around AI use cases for public equity investors. This vertical is becoming real, quickly. Opus 5.5 threshold moment and people mentally preparing for Opus 6,7,8 and eventual open weight parity. Most common conversation is how you build something to stay out of the Claude path (there are lots of ideas that I believe do this) - Consensus that public equity investing is one of the hardest AI use cases to crack “if AI comes for us, imagine what has happened to accountants” - Still no one reliably arguing AI has bent the curve of alpha (but many now hopeful over next 6-12 months; particularly on short books). But broad consensus on the dramatic productivity uplift from Claude. - Fun conversations on how awful Claude is as a stock picker (despite emerging super human capabilities in the junior analyst workflow stack), and fun ideas on how to fix that - Fun conversations on the trading alpha emerging from fading “dumb Claude” - My priors shifted on the inability to reliably backtest a Digital Investor. Which has exciting implications. Post training, training data and eval dominating conversations. - The median AI conversation with investors in NYC is still “how do i set up my Skills”. The median AI conversation in SF is “how many worlds do I need to simulate to calibrate the 3 year IRR forward for a stock”. - AI smacks you in the face wherever you go. Billboards, overheard conversations at coffee shops. - This is so fun. Forgot I do this for work and feels like exciting play. Have to come back here regularly.

All the negative takes on $META / Zuck flying blind when it comes to AI / equity raise is all cope and makes me want to buy more. This guy rebuilt a full AI team in 1 year, caught up to the frontier and launched a product that we probably couldn't even dream of 3 years ago. Zuck is about to dunk on all of you. With my defense of LONG $Meta now complete, it probably is the top.