BREAKING NEWS 🚨
Over the past four days, I’ve purchased 1 million shares and close to a 1.5% stake in @ChurchillDowns, and I may acquire more. I’m extremely excited about the possibilities.
Churchill has tremendous assets, led by what I believe is the global crown jewel of horse racing, the @KentuckyDerby. Last year’s Derby peaked at 24.4 million viewers. To me, that’s a major proof point of how BIG this sport can become.
As the owner of Repole Stable, one of the largest, most successful and recognizable stables in the country, I see firsthand the potential of what I believe is one of the most undervalued sports nationally and globally.
Horse racing needs more education, real marketing, innovation, and evolution. It also needs stronger leadership and greater accountability from the Old Guard racing entities that, in my opinion, have held the industry back for far too long.
Nobody loves building epic businesses and brands in a disruptive way more than I do.
I believe a meaningful ownership stake in Churchill gives me the greatest opportunity to help create value for Churchill shareholders AND make a positive financial impact across all of racing.
Growing this sport means growing opportunities for everyone, owners, breeders, track operators, horseplayers, fans, and everyone whose livelihood depends on racing.
I really look forward to working with CEO Bill Carstanjen, his board, and management team to help turn that potential into both short term and long term results.
Think Big. Dream Bigger.
Tom retweeted
Told 60 yr old @Walgreens clerk "congrats on being included in the Dow Jones Industrial Average" and, once she understood the circumstance, was sweetly overwhelmed w pride and starting calling out to her coworkers
No one is more deluded than the AI nerds
NEW: According to a bombshell report in the New York Times, Anthropic co-founder Chris Olah threatened to walk out of Pope Leo XIV’s AI encyclical launch in May because the pope rejected the idea that machines can be conscious.
Olah’s team then privately lobbied the pope’s advisers “to take the possibility of model consciousness seriously.” Pope Leo XIV held firm.
For months, Anthropic has wined and dined theologians and religious scholars under nondisclosure agreements, hoping they would bless the idea that Claude has moral standing. thelettersfromleo.com/p/nyt-…
Relevant today @FriendlyBearSA
Nate Koppikar raises concerns about AQR Capital Management's tax-aware hedge fund strategies, which now exceed $100 billion in assets. These products face potential regulatory scrutiny and may not withstand future challenges. okt.to/yevRY8
Tom retweeted
10 minutes of TikTok was enough to impair people’s ability to remember and carry out intentions.
Twitter and YouTube didn’t show the same decline.
Rapid context-switching may be where most of cognitive cost is.
Tom retweeted
Kelly: “I mean, Rick, it's worth pointing out how unusual it is to have five-year yields rise 18 basis points in one session.”
Rick Santelli: “How unusual is it to have zero interest rates for seven years around the globe?
This is the price we pay for manipulating, and it's a normalization.
I'll give you something. Since 1980, the average yield on a ten-year note is around 5.5 to 5.6 percent. That should put things in perspective.”
😃
Tom retweeted
Big Short investor Steve Eisman says the AI labs know they have no moats and are manufacturing a crisis to get regulation that hands them a duopoly
"I think this is all nonsense."
[ You think it's all nonsense? ]
"All nonsense. I think that there's something else completely going on here. ... What I think is happening is that token maxing is over. The open weight models are taking big market share. I think these companies are very nervous. They realize that there are no moats around their business whatsoever, and they're trying to manufacture a crisis that will create regulation, and that they think they can then manipulate to create the moats, to create the duopoly that they want."
[ Wow. ]
"That's what I think is going on."
"Honestly, I think this whole Terminator thing is garbage. That's for sure."
Tom retweeted
Pinnacle says it's clear sports prediction markets "are highly reliant on our pricing," and could unleash the lawyers if it sees "persistent, unwanted theft" of its data.
Thought this was also interesting as a peek into some PM sausage-making:
covers.com/industry/pinnacle…
@Covers
Tom retweeted
“Anthropic CEO Dario Šarić“
The Best Stock To Buy During The "AI Slowdown" youtu.be/EvRmra6O5FY?is=aRVf…
Why OpenAI’s Sam Altman and Anthropic’s Dario Saric have a God Complex
Tom retweeted
“Where do you see that extinction number landing at as we exit the calendar year?”
