Pretty much. As of the past few weeks, debt markets have almost entirely shut off access to money for any company that doesn’t have substantial revenue independent of AI data centers. SpaceX closed $40B of debt for GPUs, but we’re investment grade and have Starlink & launch revenue. That means the 200+ neoclouds are going to see guppy-level death and consolidation. Some will make it through, but not many.

Chamath Palihapitiya says the most obvious thing to point AI at is Satoshi's wallet, drain it, go short, tell people, make the money twice "And then the third is around AI... the most obvious thing to point it to would be to Satoshi's wallet and... just kind of drain the wallet and then go short and then tell people that you did it. So then you'd make the money twice." [ Peter: So, do you think Bitcoin is cooked? ] "I just think it's capped, and then I think eventually it gets hacked, and then it goes to zero."

$BTC is currently up 5% against the $NDX over the past two weeks, even though Bitcoin has traded completely sideways. When something refuses to sell off during a downturn in markets, it let's you know what will happen next when markets turn. 🧨

Strive is offering $SATS through an IPO available to select investors. - 15% fixed-rate perpetual preferred stock - Cumulative dividends paid every business day - Junior to SATA INVESTOR PRESENTATION TIMESTAMPS 00:00 - Introducing SATS 01:46 - Executive Summary 18:50 - SATS Improves SATA 21:06 - Dividend and Balance Sheet Strength 27:33 - Performance and Liquidity 30:48 - Bitcoin Thesis 40:26 - Amplification and Risk $SATS $ASST $SATA