housefire

Had a conversation today with a wealthy American boomer who's portfolio of boring stocks is up 2x since 2021. Right after that, spoke with a middle class Uzbek who's $30K flat in Tashkent has also 2x since 2021. Can cite many similar conversations with people in different parts of the world owning different assets. It feels like amongst the global top 10% ($100K> net worth) - everyone is now 2x richer than 5 years ago. Which equally means if you have 'only' doubled your wealth since 2021 - you might not be richer, you have just kept up with global asset price inflation. Photo: Qatar Airways business class Hong Kong outbound. 2019 (left) vs 2024 (right). Qatar pulled their Q-Suite (their top business class product) from all Hong Kong outbounds and replaced them with 20 year old planes bought from Cathy Pacific. Flight fares up 50%> anyway. Why was it pulled? Hong Kong was one of those developed markets where local wealth failed to 2x in the last 5 years. Locals park their wealth in HK stocks and real estate - both of which have failed to track global average. Q-Suite prices would have to be up 100%> and there's not enough HK locals who can afford it.

Just heard a wild rumor from someone I trust that works at JPM. The buzz is that Trump has been exploring ways to force Vice President Vance out of office. He cannot fire him legally. Unless Vance resigns, the only way for him to be removed is to be impeached by the House with 2/3rds Senate voting to remove!

The f*ck does this even mean? 😭

This is what we've been seeing with every company we work with. Try justifying spending 100k on token spend when only 18k even makes it to a stable prod feature. In the rush to maximize AI token spend, companies are wasting over 44% on bug fixes