David Klamet

David Klamet

@dave.klamet.net

Renaissance man wannabe, drone builder, night sky watcher, hummingbird feeder. Like Diogenes, looking for honest people. Slava Ukraini

124 followers21 following345 posts

Credible people have continued to point out that hyperscalars and chip makers have been misleading about their expenses, debt, and future earnings. The public clearly is either skeptical or strongly opposes massive data centers. One of many voices shedding light on this. bit.ly/3RSQ935

bit.lyWhy Wall Street is Ignoring Big Tech's DebtStart your own store with #printify: https://try.printify.com/72vgyfrvedkq The first 100 people who use the code PATRICK will get 15% off their first order! Nikkei Asia recently reported that the five biggest US tech companies are carrying an estimated $1.65 trillion in "hidden," off-balance-sheet debt — and a lot of commentators have reached for the word "Enron" to describe the issue. In this video I look at whether that comparison holds up. It doesn't: unlike Enron, this debt isn't concealed through fraud — it's disclosed in the footnotes, it breaks no accounting rules, and much of what is going on is perfectly ordinary. But that raises a more interesting question than "will they get caught." If the aggressive stuff — the adjusted earnings, the leases, the stock-based compensation added back — is all sitting there in plain sight, does dressing up the numbers actually fool anyone? Drawing on the work of Aswath Damodaran, Richard Sloan, Robert Bloomfield and others, I dig into what the research says about whether markets reward clean accounting or aggressive accounting, why the debt isn't hidden so much as filed somewhere too tedious for most people to read — and why the real risk in the AI boom probably isn't the borrowing at all, but the enormous revenue it's all assuming will show up. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social Business Inquiries ➡️ sponsors@onfinance.org Patrick Boyle On Finance Podcast: Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313 Google Podcasts: https://tinyurl.com/62862nve Join this channel to support making this content: https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

(Un)common sense: Anything that is powerful--nuclear stuff (bombs and reactors), rocket ships, weapons... should be treated carefully, and we should proceed slowly. 1/2

ANI (N=narrow) is undoubtedly high on that list. Rushing forward with abandon — as we are doing — is as foolish as anything in human history...if not the most (and last) foolish thing we do. 2/2

When I hear "datacenters in space," I react with a mix of mirth and worry. The difficulties of electronics in space and the challenges of getting stuff to orbit (I know more than the average bear) will make it impractical for decades. Funny: it's farcical. Worrying: it's being taken seriously.

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The fullest accounting of the economic cost of war includes not just today’s dollars, but tomorrow’s lost opportunities. A dollar spent on war today is a dollar not spent on health care or education or infrastructure. Or it’s a dollar not available to the private sector for capital spending.

Since AI is trained rather than programmed, what keeps them from destroying humanity once they have the capability — and, eventually, they surely will.

"Artificial Intelligence isn't" It is not intelligent. It does not learn. After each version is "trained," it is static. There is no model of the world; it is just a predictive engine.

Is it useful? Yes. Will it become more useful over time? Almost certainly. Will it live up to the current hype? Not for a while. Not without a breakthrough. Someday, it will likely be better. Not yet, though.

We need to be concerned not only about the problems AI will cause, but also about what it will enable those with evil intent to do. Just another on the list of tools co-opted to cheat and steal..

Now this is what I'm talking about. We are only powerless if we choose to be.

Scott Galloway@profgalloway.com

A one-day slowdown is irritating. A one-month slump is terrifying. With support for abolishing ICE growing and a bipartisan backlash prompting Trump to at least feign a more conciliatory approach in Minnesota, this is the moment to exert pressure. bit.ly/4aoo0an

When I hear foreign leaders refer to U.S. actions, I fervently wish they would be specific and correct and refer directoy to Trump and not what is still our country. Trump may represent the US on the world stage, but he IS NOT the U.S. www.independent.co.uk/news/world/a...

independent.co.ukTrump trolls Greenland with AI picture of president planting flag on ‘US territory’Trump continues to ramp up the pressure in his bid to take over the Danish territory despite worldwide backlash

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"If you can prove someone's a gang member or has committed a crime or is violent, round them up, put them on a plane, get them out. But you have to prove that, right?" Right? Rep. Jason Crow joins @timmiller.bsky.social on the latest Bulwark Podcast:

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The top five egg producers own roughly half of all U.S. laying hens. The biggest of those corporations is Cal-Maine, which just announced quarterly profits of $509 million — more than 3x what it made a year ago. Corporate concentration + bird flu = a price-hiking free for all.

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Powerful words from attorney Brenna Trout Frey, who resigned from Skadden after the law firm bowed to Trump's threats and signed a disgraceful deal with the Trump administration: "There is only one acceptable response from attorneys to the Trump administration's demands: The rule of law matters."

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Replying to @petersagal.bsky.social

If TdA were as bad as they “determine,” wouldn’t there be widespread reports of “murders and kidnappings” from around the country? And wouldn’t the Govt’s case be stronger if they told the court about them? Finally, can courts take that lack of specific claims into account?

David Klamet reposted

Dear Martha, next time something like this comes up remind the American that the UK helped America after 9/11 when America asked for help. Remind him/her that the UK fought next to America in Iraq and Afghanistan and lost many troops. Ask the American to say 'thank you' for the help we gave.

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Just back from a much-needed end-of-class-term trip to Paris and Provence. Best sign I saw was a display at a British book store in Aix-en-Provence. The books on display were top notch also.

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