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The dominance of big tech is, IMHO, one of the biggest investment opportunities and new economic paradigms in history, or at least going back to the industrial revolution. An increasingly large share of global economic activity, such as cloud, AI, apps, mobile, ads, etc. is being funneled through maybe a couple dozen huge companies. Although… Continue reading The Investment Case for Leveraged Tech, This Decade’s Bitcoin

I saw this tweet going viral. Elon Musk has a low opinion of higher ed, particularly elite colleges: The value of an “elite” college education is not what it used to be — Elon Musk (@elonmusk) January 31, 2024 Unless he means it’s more valuable, the fact that parents are spending so much money on… Continue reading College as a path of least resistance: why degrees continue to thrive

College grads of decades ago were almost a full standard deviation smarter compared to today’s grads: A few decades ago, the mean IQ of a college grad was about 115. Now it's somewhere between 100 and 102. — i/o (@eyeslasho) February 4, 2024 Based on what? He gives no evidence to substantiate his claim. For… Continue reading College grads and IQ, now and then: claimed 15-point difference is too high

The big story is Meta stock gained 20% on blowout earnings: FBL, a leveraged single-stock ETF that tracks the 2x daily returns of Meta, gained 40%: AFIK, this is the greatest single-day gain for an ETF ever. This is not a penny stock or some speculative biotech going up 40%, but a fund which tracks… Continue reading Meta Surges 20% on Earnings, FBL up 40%

Freddie deBoer takes a shot at Matt Yglesias for failing to appreciate the role his privileged background played in his success: The last point gets to what some will call a personal attack, but which I think is actually entirely impersonal: he reminds me very much of other rich kids I’ve known who have never… Continue reading Talent is a Scarcer Resource than Wealth

Taylor Swift Democrats: Conservatives are losing the “don’t be weirdos” contest, by Richard Hanania. We can understand Taylor Swift Democrats as men and women comfortable with their birth sex, eager to play the roles traditionally assigned to it, not racist but not feeling particularly guilty about the sins of their country, and who will naturally… Continue reading Normies and the GOP

It’s been a year since Meta was supposed to be dead according to the experts, whose viral videos and articles racked up millions of views proclaiming the end for Meta: How poorly those have aged. [1] Meta stock has since almost tripled from its 2022/2023 lows, making an all-time high at $400 as of writing… Continue reading Meta was supposed to be dead…the stock is up 300%

By Noah Smith: In particular, rent has now come down. A report by Realtor.com finds that median rents have fallen for 8 straight months now, caused in part by a boom in new apartment construction. (Yes, it turns out that YIMBYs are right and increasing supply makes housing more affordable.) This is some of the… Continue reading The Daily View, 1/28/2024: YIMBY-ism, Fast Food, Twitter, etc.

The past few years has seen a revolution in highly effective weight loss treatments, namely Semaglutide and Tirzepatide, which originally were used to treat diabetes but have been rebranded and repurposed to treat obesity under such brand names as Wegovy and Zepbound. They are often referred to as “GLP-1 drugs” for their mechanism of action… Continue reading The Wegovy Class Divide – Why It’s Not What You Think

2024 is off to a stronger start than even 2023. Everything is going exactly as predicted. It’s one thing to get the general direction right or one or two things, but not everything. Below, META and SVIX, the two I singled out at the start of the year as superstar performers, are up about 8%… Continue reading Market update for 2024: a huge start for the year, Bitcoin crashes, and optimism about Trump