Steve Hou

@TShirtnJeans2 Western ofc

@stevehou TCM or Western medical doctor?

Just did a comprehensive medical checkup at my Chinese doctor’s office in Flushing. Texted them last night for a last minute walk in. Got to the parking lot downstairs at 1025am and it’s now 11am. From front desk check in to finishing all the exams, 30 mins. Chinese efficiency.

Perhaps even more notable than Anthropic's $44B ARR figure is the reported 70% gross margins on inference. If you do some back of the napkin math and assume: - 75% of total rev. comes from AWS, GCP marketplaces for which Anthropic pays 25% rev. share ($8.25B total rev. share costs) - 2.5GW of total compute at $12B per GW ($30B total), with $13.2B on inference (to back into 70% gross margins) and $16.8B on training - 5,000 FTEs at $0.75MM in annual compensation per head ($3.75B total) - $1B of other OpEx (e.g. marketing, office rent, finance, legal etc.) ... Then total run-rate COGS + OpEx is $43B, implying $1B of EBITDA.

@p3rmissionl3ss homveemedicine.com/about

@stevehou which clinic is this

@madridraptor Yes, blood pressure, blood test, urine test, some vaccination, plus a whole conversation with the GP. It’s a lot

@stevehou What kind of checkup? Like the ones you do every year in China? 全身体检？

One of my favorite of our recent blog posts: @cerebras made GPT‑5.3‑Codex‑Spark so fast that we had to rethink how Codex uses the Responses API – leading us to build WebSocket support for ultra fast latency. Cerebras speed is just 🤯

Need 😍

@xeophon @infornomics What are the top3 differences and similarities?

I was in the US the first time in my life <6 months ago; now I am for the first time in my life in China The differences and the similarities are quite interesting

@weltluster Nope

@jaybee484 @Noahpinion @TheStalwart @ezraklein @AlexThomp Just gotta be more pragmatic and do things faster. I think Americans care a lot more about procedures.

@stevehou @Noahpinion @TheStalwart @ezraklein @AlexThomp Sounds like a really interesting case study then 🙂 I think One Medical was trying for this efficiency lane but was struggling before Amazon bought them

@arberx_ Free insurance covered. The immigration checkup was $150

@stevehou What was the cost? Can I get a recommendation?

@jaybee484 @Noahpinion @TheStalwart @ezraklein @AlexThomp Insurance. They checked everything incl what’s covered not covered. Super experienced from other patients presumably.

@stevehou @Noahpinion @TheStalwart @ezraklein @AlexThomp Do they take insurance or do you pay cash? A bunch of our red tape has to do with insurance

It’s an immigration medical exam but I was also due for a regular annual checkup. I asked them whether it’s possible to combine the two exams so I could save a trip. I was fully expecting that they say no since that’s what I’d expect from an US hospital. They went sure no problem. That is Asian pragmatism and how you get abundance.

@Noahpinion @TheStalwart @ezraklein @AlexThomp how about that for “abundance”? Just be more efficient all around? Fewer formalities, processes, red tapes. I straight up was shocked myself as I had gotten used to US medical system inefficiency.

@Investor_NICK_ @WarrenPies Recessions are rare bc they are by definition tail events

@stevehou @WarrenPies They’re probably rare because our government and the Fed makes them rare. But it gives us the best situation. Capitalism without risk of recessions is essentially heaven without the possibility of hell. Probably best for most folks because recessions really do suck.

Yup estimates of earnings esp at the index level are rarely off by a couple percents.

@Investor_NICK_ @WarrenPies Recessions are rare

@stevehou @WarrenPies Outside of recession … so essentially they never even consider a recession and revise earnings only after the recession has already hit. Damn. Now I understand why they say no one ever sees a recession coming.

@DeepDishEnjoyer Alpha

@stevehou wow nothing gets past this guy

i love san fransisco california during the spring season no i have never spent time in any other city in the United states of america

@Kantrowitz Did any of those apps ever find PMF?

DAU growth curve for generative AI apps is flat. What's happening? bigtechnology.com/p/are-ais-cons…

@Merridew__ Not losing face