Meta Just Lit a New Fuse
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All in Markets →The Compute Shift Nobody's Talking About
Pre-training compute at Anthropic and OpenAI collapsed from 60% to 7% in two years. Post-training now dominates — and it demands a completely different hardware stack. Here's where I'm looking.
The KV Cache Shift Nobody's Pricing
DeepSeek and Kimi just slashed KV cache requirements by orders of magnitude. Anthropic and OpenAI seem to be taking a different path. The memory stack winners and losers are about to reshuffle.
The 30-Year Is Screaming. Are You Listening?
US 30-year yields just hit their highest since 2007. Here's how I'm repositioning across duration, mega-cap quality, financials, data centers, housing, and gold — plus the August-September catalysts that decide the next leg.