daniel singer

IRS net migration data is out of 2023: 🔴 Red states gained $37.2 billion in income and 492k filers. 🔵 Blue states lost ~$40.8B and 520k filers. CA −$11.9B, NY −$9.9B, IL −$6.0B, MA −$4.2B, NJ −$2.8B.

NY is about to cost founders a million dollars…and the state even more NJ changed its QSBS rules recently and recognizes QSBS. Why in the world is NY going to push founders to move to New Jersey? Haven’t we learned that we compete with other states? Retweet to spread the word that we can’t let this happen

NEW: In a letter to employees, United CEO Scott Kirby says the airline is prepping for oil to hit $175/barrel & “doesn't get back down to $100/barrel until the end of 2027.” United is shaving 3% of off-peak flights - “think redeyes, Tues/Wed/Sat flying” - this spring & summer.

The largest buyout fund in history raised $28 billion. Jeff Bezos is reportedly raising $100 billion, more than 3x that record, to buy manufacturing companies and automate them with AI. The Wall Street Journal broke the story today. Bezos has been meeting sovereign wealth fund managers (government-owned investment pools in the Middle East and Singapore), pitching what investor documents call a "manufacturing transformation vehicle." The targets: chipmaking, defense, and aerospace. The money flows through Project Prometheus, the AI startup Bezos co-founded in November 2025 with physicist Vik Bajaj, formerly of Google X. Prometheus launched with $6.2 billion and over 120 employees poached from OpenAI, DeepMind, and Meta. The company says it builds "AI for the physical economy," meaning AI that learns from real-world environments and physical materials, not just text and images. Prometheus is the brain. The $100 billion fund is the body. Bezos is worth about $234 billion. This fund would represent roughly 43% of his entire fortune. Most of the capital would come from outside investors, but there is only one precedent at this size: SoftBank's Vision Fund, which also raised $100 billion in 2017 ($45 billion from Saudi Arabia's sovereign fund, $15 billion from Abu Dhabi). That fund posted a $32 billion loss in a single year. Masayoshi Son publicly said he was "embarrassed" and "ashamed" of the results. U.S. manufacturing is a $3 trillion sector with 113 million workers. Its share of GDP has dropped from 11% in 2012 to 9% today. The bet is that AI can reverse that decline by making factories radically more productive. Just last week, Travis Kalanick (former Uber CEO) came out of 8 years of stealth to launch Atoms, a robotics company targeting factory automation. Multiple billionaires are converging on "physical AI" this month. Bezos is just doing it with a checkbook 3x the size of anything the buyout industry has ever seen.

There is something deeply ironic about the fact that the SEC is preparing a proposal to eliminate quarterly reporting while California is mandating founders disclose their sexual orientation...

this is actually insane > be tech guy in australia > adopt cancer riddled rescue dog, months to live > not_going_to_give_you_up.mp4 > pay $3,000 to sequence her tumor DNA > feed it to ChatGPT and AlphaFold > zero background in biology > identify mutated proteins, match them to drug targets > design a custom mRNA cancer vaccine from scratch > genomics professor is “gobsmacked” that some puppy lover did this on his own > need ethics approval to administer it > red tape takes longer than designing the vaccine > 3 months, finally approved > drive 10 hours to get rosie her first injection > tumor halves > coat gets glossy again > dog is alive and happy > professor: “if we can do this for a dog, why aren’t we rolling this out to humans?” one man with a chatbot, and $3,000 just outperformed the entire pharmaceutical discovery pipeline. we are going to cure so many diseases. I dont think people realize how good things are going to get