Topic

Mag7

A collection of 18 issues

The Asymmetry of Selling Compute

A couple of readers recently emailed me a paper by Columbia Business School professor Stijn Van Nieuwerburgh.

The Left Tail of AI

AI is obviously a transformational technology, and anyone still dismissing it as a 'con' job is, ironically, likely pulling a con themselves. It’s hard not to feel that AI needs a better group of bears if we crave for a more diversity of opinions around AI.

Big Tech Off-Balance Sheet Concerns

A couple of weeks ago, WSJ published a piece titled “Why Big Tech’s AI Spending Is $3 Trillion Higher Than It Seems”. Some excerpt from the piece: “Each quarter, big tech companies disclose their massive capital expenditures on artificial-intelligence infrastructure, from data centers to chips.

Rethinking the Data Moat

I want to highlight a couple of pieces which I found to be quite intriguing. The first is Dwarkesh Patel’s conversation with Ryan Greenblatt, chief scientist at Redwood Research.

The AI Compute Squeeze

Programming Note: MBI Deep Dives will be off during the weekend and I will resume the daily posting cadence from Monday next week.

Digital Advertising Industry Snapshot 4Q'25

Programming Note: I will be in San Francisco Bay Area next Tuesday. If any of you wants to meet for lunch around Larkspur, please feel free to reach out.

The Nvidia Math

Nvidia posted yet another amazing quarter, and their guide for next quarter was comfortably ahead of the elevated consensus estimates. Yet, the stock has gone down??

The Long-term Reality of Hyperscalers: The Good, The Bad, and The Ugly Scenarios

In my “Lipstick on Frontier AI Pigs” piece, I wrote the following: Apart from ignoring the cost of training, another deeply questionable assumption Amodei makes in his argument is the gross margin for inference.

Zuckerberg's Lens

10 years ago, Alphabet was the largest company among today’s big tech companies. (I’m going to ignore Tesla and Nvidia in this discussion as they are more recent additions to this list).

Trillion Dollar Club

A couple of weeks ago, I recorded a podcast with my friend Liberty to discuss all the companies in “trillion dollar club”. Enjoy! From Liberty’s Highlights: “At nearly two hours, this one is massive, but you know what they say: Too much of a good thing can be wonderful!