A heavy, end-of-empire session: France's riots kept burning through the feed, but the sharper arguments were about what they mean — inflation, migration, the shredded social contract — and about Anthropic's share pledge, which Elon @elonmusk and Palmer Luckey @PalmerLuckey turned into a fight over who the 'public' is. Underneath it all, the AI trade kept cracking: Morgan Stanley's $1.58T capex number @zerohedge and the neocloud unwind @zerohedge gave the finance posters plenty to chew on, while the T3 Code benchmark spat @theo @theo supplied the session's best tech-drama comedy.
Continuing · earlier: Anthropic puts about 20% of its shares into a public benefit fund
The fight over Anthropic's pledged shares has moved from sarcasm to prescription. @dgt10011 started it: the only way to make it a public good is to give shares "directly with full voting rights, not to some wholly owned LLC", and he said to "Burn this effective altruism to the ground".
@elonmusk replied under the Anthropic announcement with "I recommend giving the shares directly to the public", then added "This is what I will be doing". @dgt10011 took the win: "Sounds like @elonmusk agrees".
@PalmerLuckey came at it from another side. He argued that Anthropic's definition of "public good" is helping everyone else rather than "the American public", and that the fund "reeks of USAID 2.0, just another way to funnel billions out of our own economy". His evidence was a screenshot of constitution-style principles about choosing responses least likely to offend a non-Western audience @PalmerLuckey.
Continuing · earlier: French protests spiral into riots as Limoges town hall burns down
Macron has now asked the Interior Minister for "clear answers and full transparency" on how Saturday's violence was handled. The posted franceinfo still carries a banner quoting his phrase about far-left factions @jmsardo.
The funniest aftermath is on Vinted. @solishortus posted listings of sealed Sephora lipsticks, cleansing creams and bagged hauls at 10 to 15 euros, captioned "En effet c'est la folie sur Vinted". One listing is literally titled "Maquillage 17 octobre" @solishortus. The quoted @Manney09 joke is that you can tell men stole it from the prices they ask @solishortus.
@EndWokeness went for the other kind of humour with a Franprix photo of the wrecked cooler aisle, captioned "No ham was looted. I wonder why". It is the most-liked post here.
Elsewhere, @AutismCapital reposted Nick Shirley in Paris, claiming 500,000 on the streets, and the "This is fine" tourist with a one-week visa @AutismCapital. @LynAldenContact's take: rioting against the cost of living by destroying stores "just increases inflation and cost of living". She also expects to be asked about Europe at every macro interview now @LynAldenContact.
Continuing · earlier: Oracle's CDS hits 300bps as a weekend MU crash spooks markets
The hard numbers came from Morgan Stanley via @zerohedge. The bank puts 2027 hyperscaler and neocloud capex at $1.58T once operating leases are included, and $1.81T for 2028, "another upward revision". The Sankey of where it goes gives semiconductors and servers $672B @zerohedge, and the accompanying piece's headline is that Nvidia gets $690BN @zerohedge.
The funding side is uglier. Free cash flow hits its most negative point in 2027, with a shortfall "just shy of $600BN" once leases are counted @zerohedge. MS calls AA-rated hyperscalers "mostly price insensitive to higher interest rates", but its illustrative exercise has Oracle and SpaceX at $120 billion and 8.5%, taking coverage from 4.0x to 1.8x @zerohedge.
The casualties are named. Nscale asked $30 billion for its IPO and buyers countered at $16 billion, while Microsoft walked from a UK deal @zerohedge. Goldman FICC reported a record in non-traditional inquiry on CRWV debt and ORCL CDS @zerohedge. @porterstansb counted CoreWeave's Q2 debt of $35.07 billion against $5.02 billion of equity, 17x levered once leases are included.
Monday's screen shows the split: NBIS -12.18%, CRWV -11.91%, SMCI -9.86%, with energy names up about 4% @eightcap_global.
@DavidOndrej1 alleged that Theo paid Zakra to run a v2 benchmark and told him to "hide" Cloudroom after it outranked T3 Code in the first tier list. His receipts were screenshots: the v1 list with Cloudroom in God Tier and T3 Code in A, Zakra thanking Theo for sponsoring, and a v2 list with T3 Code on top @theo.
@theo's reply: "I did not tell him to hide anything." His version is that he asked why T3 Code scored low, found Zakra was on a 3+ month old version, and then offered to fund a real benchmark. "I have no idea what Cloudroom is". He added that Ondrej keeps boosting his own post but never answers the reply @theo.
Then the escalation. Theo called it proof T3 Code is good, since companies he's never heard of are "spreading lies about us", and resurfaced an old Ondrej list of grievances as an artful take on the "delusional hater archetype" @theo. He later declared that his pursuit of accuracy makes enemies of those who profit from misinformation @theo.
@zqkrq announced ADEMark, covering 16 ADEs on the same machine and tasks. @thsottiaux's verdict on Theo's framing: "Journalism with additional Theo steps". @ScriptedAlchemy called the tool "the best AI tool I've ever used".
POLITICO's piece on what it calls the biggest anti-tax uprising in half a century opens with Ray Warner, a 72-year-old Akron resident: “I’m old. I’ve paid my home off,” he says. “Why would I pay property tax?” @politico
The right took the quote and ran. @esaagar called boomers "The most selfish generation in American history" and said "We have no choice but to break the back of the AARP lobby". @mattforney said they have reached "the final stage of degeneracy where they think they should be exempt from paying taxes".
@BitPaine went shortest: "you truly do not hate boomers enough". Saagar's post drew the most likes of the three @esaagar.
2 posts from @xwanyex
