NVDANVIDIANeutralNVIDIA

1w ago on

Many have commented on this. I agree with the analogy, but would emphasize a very important point treated as somewhat throwaway: “Nvidia is Airbus and Boeing rolled into one” and “it’s closer to engines” There are very few aircraft providers because it is a highly regulated industry where safety is paramount (and market leaders set the regulations for the most part). This sets high barriers to entry. There are more engine providers (GE + Rolls Royce dominate), but it’s still limited by regulations. And most of their profits come from extended services. Nvidia leads due to performance. A failed GPU (or CPU as they regain applicability in some variants) will not kill several hundred people or jeopardize the network. Nor are there substantial service revenues. This suggests the competitive moat is far narrower for $NVDA than for a combined “Airbus and Boeing (or GE+Rolls Royce) rolled into one.” Can NVDA maintain its performance lead and will that matter as much in the future when Nvidia provided access and financing becomes less relevant? Seems a reasonable question!

Partially agree with @nic_carter Gold is not “money.” It was one of MANY types of metallic coinage, with suitability determined by chemical properties. Fusion bombardment knocks out two neutrons from mercury and then one proton(+) captures an electron(-), becoming a neutron(0 charge), transmuting mercury into irradiated gold. As a byproduct of radioactive isotope production, the cost is estimated around $250/oz, so it’s a nice resource even with the ~13 years of storage required for the radiation to diminish. At 10% cost of capital, that’s about $850/oz. This is the history of aluminum, fertilizers and diamonds in relatively recent memory. And all materials previously scarce, that innovation has made plentiful. Where I disagree with Nic is the comparison to quantum for Bitcoin. If Marathon successfully manufactures gold, they become a low cost gold producer — roughly akin to a small Copper-Gold producer. It’s a negative for gold prices, on net. But gold remains an element and your gold remains yours. Quantum breaks bitcoin algorithm, Bitcoin ceases being a “secure” network and your bitcoin ceases being “yours.” The incorruptible blockchain ceases being incorruptible. One is a modest net negative for price. The other is death. Can Bitcoin security be upgraded? I don’t know. And remain bored by it.

NeutralSPCXSpaceXSpaceXTSLATeslaTesla

3w ago on

Yes, there are many benefits to the merger of $SPCX and $TSLA… but only one that matters https://t.co/D58cUjwBXw

AMZNAmazonNeutralAmazon

4w ago on

Thoroughly enjoying the latest wave of “It’s never different this time” nonsense. While I think AI is a bubble amongst bubbles, anyone who thinks AI is not already changing the economy is not paying attention. Comparisons to total software or tractors remind me of the Barnes & Noble vs Amazon debates in 1999. We have no idea what the future holds, but the world has changed. Better or worse remains to be “scene.”

GSGoldman SachsNeutralGoldman Sachs

9/15/2026 on

Charlie again bringing differentiated thoughts. If you’ve ever wondered “who” at Goldman Sachs ran the mortgage book reversal in 2006/7, I’m retweeting them… https://t.co/PlNxn86yQ7