The wire
Live news feed
7,278 headlines collected and scored. Last update 19h ago.
Positioning on Platner has become a way of re-litigating the war debates of the 2000s and the Bush/Obama response to the financial crisis. Those choices were unpopular for everyone but elites, so…
Positioning on Platner has become a way of re-litigating the war debates of the 2000s and the Bush/Obama response to the financial crisis. Those choices were unpopular for everyone but elites, so the discourse happens through scandal. www.thebignewsletter.com/p/monopoly-r...
Enshittification by @doctorow.pluralistic.net has been such a fun, enlightening, and frustrating read. I loved the section on the so-called Anti-trust Renaissance under Biden's FTC. I've always been…
Enshittification by @doctorow.pluralistic.net has been such a fun, enlightening, and frustrating read. I loved the section on the so-called Anti-trust Renaissance under Biden's FTC. I've always been anti-monopoly but I'm as convinced as ever that it is crucial in de-enshittifying society.
So you're saying misogyny is inherint in being a populist. Yeah we've known that since 2016.
Being smeared as a sexist for expressing populist views brings me back. Makes me feel young again.
Musings on Markets — Aswath Damodaran·Revisiting the SpaceX Valuation: A Post-Prospectus Update!
A few weeks ago, I assessed the value of SpaceX ahead of its initial public offering, with the admission that I was making my estimates with drabs of data, some of it coming from unofficial sources. I also promised to revisit my valuation, when the prospectus came out, and now that it has, I will examine how the information it contains has changed my view of the company and its valuation. I will…
Paramount's general counsel Makan Delrahim says opposition to the Paramount-Warner merger is driven by anti-semitism. He really believes that. These people are total lunatics.
A very weird manufacturing indicator, the sector is growing and the growth is accelerating, but manufacturing employment is contracting. And the comments from executives are deeply pessimistic.
A very weird manufacturing indicator, the sector is growing and the growth is accelerating, but manufacturing employment is contracting. And the comments from executives are deeply pessimistic. www.ismworld.org/supply-manag...
Bullish
I wrote up two events last week that will shake up the stock market, which are the very scammy SpaceX IPO and the repricing of AI tools. The bill for data centers is coming due, and corporate…
I wrote up two events last week that will shake up the stock market, which are the very scammy SpaceX IPO and the repricing of AI tools. The bill for data centers is coming due, and corporate America has to pay for it. www.thebignewsletter.com/p/monopoly-r...
Electricity bills are soaring, and Americans are fed up. The political backlash against utilities is finally here, driven by the broader revolt against the affordability crisis, says…
Electricity bills are soaring, and Americans are fed up. The political backlash against utilities is finally here, driven by the broader revolt against the affordability crisis, says @matthewstoller.bsky.social. “Everybody is mad at utilities." #Velshi
Founders Fund invested $20 million into SpaceX 18 years ago, and kept investing. Its stake could be valued north of $60 billion. An exclusive Q&A with partner Scott Nolan, and early SpaceX employee…
Founders Fund invested $20 million into SpaceX 18 years ago, and kept investing. Its stake could be valued north of $60 billion. An exclusive Q&A with partner Scott Nolan, and early SpaceX employee, ahead of the IPO. www.axios.com/2026/05/28/s...
Today's @Axios Pro Rata newsletter: Platner's field of dumb, Lilly's big vax buy, new details on the govt quantum deals & much more:
1. Trump has repeatedly promoted an online casino, Stake, on social media after its founder and owner, Bijan Tehrani donated $1 million to Trump's Super PAC, MAGA Inc. According to multiple state…
1. Trump has repeatedly promoted an online casino, Stake, on social media after its founder and owner, Bijan Tehrani donated $1 million to Trump's Super PAC, MAGA Inc. According to multiple state regulators, Stake is an illegal operation.
My dumb read on Iran is that you can tell it’s a real deal when Trump starts effusively praising Iran’s leadership in a cringe and slightly homoerotic manner.
Where’s all your money going when you pay your electric bill? It’s not going to where they say it is. It’s not building a better grid, but to a legal form of theft.
The Falcon Heavy is a great rocket; the boosters first landed in 2018. It gives SpaceX a dominant lead in the most minor market in which SpaceX competes. A good chunk of that market is Starlink…
The Falcon Heavy is a great rocket; the boosters first landed in 2018. It gives SpaceX a dominant lead in the most minor market in which SpaceX competes. A good chunk of that market is Starlink. Starship is a disaster that will be less economical than the Falcon Heavy and should be cancelled.
Musings on Markets — Aswath Damodaran·An Ode to Restraint: Lessons from the Tim Cook Legacy
Through time, we have glorified conquerors and empire builders in politics, civic life and business, from Alexander the Great and Genghis Khan to the tech titans of today. That is no surprise, since these individuals have oversized personas and often change the course of history, but it is also true that this glorification of empire building has shortcomings. The first is the deification of…
Musings on Markets — Aswath Damodaran·To a Trillion(s) Dollars and beyond: A SpaceX IPO Odyssey!
In 2001, A Space Odyssey, a movie that was well ahead of its time when it was released in 1968, Hal (the computer) famously responded to questions about his reliability with “it (mstakes) can only be attributable to human error”. I was reminded of my fallibility repeatedly as I tried to value SpaceX ahead of its initial public offering, a market debut that is shaping up as a barn-burner for…
Hall of fame FT correction
Full episode just dropped! An explainer for those who don't really understand what #PredictionMarkets or Kalshi are, and a deeper dive for those who get it but have concerns. Plus, Trump fam…
Full episode just dropped! An explainer for those who don't really understand what #PredictionMarkets or Kalshi are, and a deeper dive for those who get it but have concerns. Plus, Trump fam connections, what they really think about Polymarket, and more. www.youtube.com/watch?v=86oa...
Bearish
We know that OpenAI and Anthropic want to go public. The question is why:
Musings on Markets — Aswath Damodaran·Oil, War and the Global Economy: The Market's Narrative in March 2026
Markets play an expectations game, and in March 2026, we saw the process play out, with all of its upsides and downsides. The month started with a war in the Middle East, which quickly percolated into soaring oil prices and dropping stock prices, but the overwhelming factor was uncertainty about almost every dimension of the war - how long it would last, what permanent changes to oil prices…
Private equity's next step into 401(k)s
Musings on Markets — Aswath Damodaran·Finding your investing lodestar: In Search of an Investment Philosophy
When uncertainty roils markets, as is the case right now, it is natural for investors to get knocked off balance, a when off-balance, to make investment decisions that they often regret later. It is during those times that it helps to have a core set of beliefs about markets, and an investment philosophy that reflects those beliefs. You may not be able to mend the damage to your portfolio, but…
What we know, and still don't know, about Jeff Bezos' big plans to apply AI to manufacturing
The White House won't answer questions about a $10 billion payment that was apparently required to secure the TikTok sale. Neither will the buyers nor TikTok itself. It's unprecedented. And…
The White House won't answer questions about a $10 billion payment that was apparently required to secure the TikTok sale. Neither will the buyers nor TikTok itself. It's unprecedented. And officially undisclosed. U.S. investors and biz leaders should want answers. www.axios.com/2026/03/18/t...
Musings on Markets — Aswath Damodaran·The Price of Risk: An Equity Risk Premium Monologue!
I start my valuation classes with a question of whether valuation is an art or a science, and I argue that it is neither; it does not have the precision that characterizes a science and unlike an art, it does come with principles that constrain you on what you can and cannot do. I describe valuation as a craft, where you learn as you value companies, and in the process, there are times where you…
Musings on Markets — Aswath Damodaran·AI Scenarios: From Doomsday Destruction to Do-Nothing Bots!
When Chat GPT made its debut on November 30, 2022, it unleashed the hype of AI, and in the three years since, AI has taken on an outsized role not just in markets, but also in our lives. For much of the time, the AI story has been told by its advocates and its salespeople, and the companies in the AI ecosystem have benefited. Not surprisingly, given that its narrators benefit from this growth…
Bearish
Today's newsletter: The Dept of Whoa vs. Anthropic
Trump spoke for 108 minutes on Tuesday night. Mentioned AI only twice. Less than 2% of his wordcount. Elected officials are largely ignoring a revolution that will change all Americans' lives and…
Trump spoke for 108 minutes on Tuesday night. Mentioned AI only twice. Less than 2% of his wordcount. Elected officials are largely ignoring a revolution that will change all Americans' lives and jobs, well beyond electricity prices. www.axios.com/2026/02/26/t...