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

“who should we lay off first” CEOs:

Trump: I love the meat! Ahhhh! I love it, look! *gestures*

BREAKING: Anthropic officially files its S-1 registration statement for an IPO, seeking to list on the Nasdaq under the ticker symbol $ANT. FULL SUMMARY OF ANTHROPIC'S S-1 FILING: 1. Anthropic posted H1 2026 revenue of $16.3 billion with a net loss of $80.7 billion 2. Anthropic says it does not expect to pay a dividend "in the foreseeable future" 3. Expects to spend up to $120.5 billion on SpaceXAI and Nvidia compute 4. Expects to spend up to $114.5 billion with Google through 2033 5. Revenue growth rate "may not be sustainable" and "may decrease" 6. May be required to seek additional financing "sooner than expected" 7. 5% of Anthropic's shares will go to the "Anthropic Public Benefit Fund" 8. S-1 includes warnings of AI's "catastrophic existential risks to humanity" Markets currently expect Anthropic to raise as much as $100 billion at a valuation of ~$2 trillion. The company is reportedly targeting an IPO in the week of November 16th.

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.

A reação do mercado mostra como a diluição pode mudar rapidamente as expectativas dos investidores. Em empresas de crescimento, transparência e execução são fundamentais para sustentar a confiança. @Wernerschnitzl compartilha ótimos insights sobre o mercado financeiro.