A call is only graded once it's had time to play out and the stock has moved beyond its normal range — long-term views get a full quarter before we'll say they're tracking against.
Jason argues OpenAI is making $10B/year largely on the back of content creators' work and should pursue licensing deals with publishers (e.g. NYT) to create a competitive moat, while warning that failure to compensate creators exposes them to copyright liability on outputs.
ChatGPT is making $10 billion a year according to reports. They should give 30% of their revenue, a small amount, the minority of their revenue, to the top 1,000 newspapers, publications, podcasts, books.” ⚑
Friedberg notes Uber hitting a new record high as a positive personal milestone, implying continued appreciation in the stock.
I don't know. Uber hit another record today. So Uber passed 88.” ⚑
Chamath argues the free money trade is to be levered long equities, citing money market dry powder, expected Fed rate cuts, and rising velocity of money as catalysts for further upside, with S&P potentially reaching 7,000.
I think the, the free money trade here is to be levered long. I think you can make a lot of money right now.” ⚑
Chamath argues that Mamdani's socialist policies will cause NYC real estate to crash, explicitly stating he would be short NYC real estate.
I would be short New York real estate. I think it's going to crash and burn, and then of course pick up the pieces and we'll reset.” ⚑
Sacks argues that media-driven panic about Trump administration policies creates consistent buying opportunities and that inflation coming down to ~2.4% justifies rate cuts that will be good for equities.
anytime that the media tries to sow doom or spread panic, about the Trump administration's policies, that's a good time to buy.” ⚑
Friedberg is skeptical the stock market rally reflects genuine fundamental improvement, arguing it may be inflation of multiples driven by expected money-supply expansion, and notes the S&P 493 is struggling badly relative to the Mag 7.
the S&P 493 are really struggling relative to the Mag 7. And there's a really kind of questionable outlook ahead for the vast majority of equity cap out there.” ⚑