This chart shows the key risk to the AI trade, and it's missing from the latest revenue announcements. The AI boom is fundamentally driven by a top 1% of companies that drive 80% of spend. Within that top 1%, 80% are venture-backed.

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Jensen Huang is a piece of shit. Every hyperscaler CEO is too. These scumbags drove the price of everything up so that they could all help Jensen Huang make more money. We did not need him to build all these GPUs. He just wanted to sell them to boost earnings. Ugly.

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“So far, AI has not produced an economy-wide acceleration in productivity growth. Adjusted for shifts in utilization rates, total factor productivity growth was zero in Q2.” - @peterberezin.bsky.social

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‘Employers are navigating a flood of errors and low-quality work that are sapping employee time, raising privacy and security risks and pushing up costs. Now, some businesses that started off fast and furious on AI are pumping the brakes.’ www.theguardian.com/technology/2...

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They will be the AOL Time Warner IPO of AI.

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