28.01%. That’s the total inflation since January 2020 🇺🇸 This means YOUR purchasing power has dropped by 22%. Much more than just a number, it affects quality of life. Follow Truflation and tell us how inflation has affected you over the past 5 years 👇

Many of you may recall the chart below, which I first created in early 2024 to illustrate Beijing’s bold credit reallocation—from the property sector to manufacturing—in an effort to reengineer China’s growth model. This strategic shift was a key reason the Chinese economy

Where is the anti-bubble today?

Longriver Partners Fund on TSMC $TSM US Thesis: TSMC is the indispensable core of the AI compute stack, excelling in manufacturing, advanced packaging, and innovation, with unmatched reliability and performance. (Extract from their Q1'25 letter)

Longriver Partners Fund on Meta $META US Thesis: Meta has built world-class AI infrastructure and automation for its ad platform, but without a compelling consumer-facing product, it risks powering the future of AI from behind the scenes while rivals like OpenAI capture the

Last year, it looked like AI capex was getting ahead of itself. This year, it looks like it won’t keep up. Kudos to Austin Lyons for depicting this graphically. Bonus points too for grokking that supply constraints are sustaining the boom

🚀Another AI inflection point: Google's monthly token usage just jumped from 480T to 980T in 2 months 🤯 That's the same growth it took 12 months to achieve prior. We're not in linear times anymore. coatue.com/terms-of-use

Thought for the day. OpenAI, Perplexity and others in AI look to agentic commerce as the primary source for monetization. Interesting to see that the top 200 retailers are unified in their efforts to block it. With one CMO saying "we don't want to create another Google that

#GAW The headline numbers speak for themselves but excellent engagement metrics. Trade Customers 8100 (from 7200) My Warhammer 735,000 (from 565,000) Warhammer+ Subs 232,000 (from 176,000) Active Emails 678,000 (from 598,000)

Hey Patrick McGee! Just finished your book and loved it. Curious, why did you leave out WeChat though? AFAIK it's the only app on iOS permitted to have an in-app app store. As the dominant interface layer in mainland China, it also made it easier for folks to leave Apple for

Zuck should have bought Roblox instead of investing USD100bn in the Metaverse

Visa acquired Currencycloud in 2021. Currencycloud co-foudner on how Wise is trying to change FX: $WISE $V "I don't think price is the main factor here. Remember, this isn't a winner-takes-all market. What Wise is trying to achieve is bold and ambitious. They're aiming to change

Netflix competed against its content suppliers until it became the indispensable distribution channel. Wise B2C and B2B appear at odds too, but B2C creates the volume and product feedback which make B2B so compelling

We’re all at home this morning because of a rainstorm. No work and no school. I’m going nuts and so are the kids. How did anyone with kids get anything done during COVID? 🌧️☔️😫😳🫠

Before there was grimdark, there was punk 🤘🏻🤘🏻#GAW

Since $META declared 2023 the “Year of Efficiency,” revenue per employee has jumped from $1.51M in Q1 2023 to $2.44M in Q2 2025, a 62% increase in just over two years.

Disclosure vs Compliance. Hadn’t thought that way before about US vs HK IPO markets