Richard Shaer

@RadnorCapital GenAI is an equalizer - it boosts low performers more than high . Over the past two decades the Gini is flat and the bottom 10 % have closed the gap with the median, the 1% have pulled away, but it doesn’t automatically widen inequality for everyone else. ft.com/content/b325af…

This is a far more nuanced conversation but I'm curious where people agree / disagree with the following: Advancements in AI will almost certainly lead to greater wealth inequality. While the pie will grow dramatically and everyone will benefit, those in the capital economy will accrue disproportionate benefits. This is certainly a social "price" we pay for progress. On the most fundamental level, technological innovation tends to shift income from labor to capital, benefiting those who own assets (such as stocks, intellectual property, or businesses) more than those who rely solely on wages. This has largely held true throughout human history. At the risk of stating the obvious, I fall squarely in the @mattwridley school of thought that innovation is a key driver of human prosperity. But life is relative, and the gap between "haves" and "have nots" creates social tension and fraying of society. This reminds me of something Winston Churchill once said: "Democracy is the worst form of government except for all those other forms that have been tried from time to time." The same could be said of capitalism as an economic construct. The perfect system doesn't exist. There is likely no "free market" solution to this problem, which to me means there is likely no solution at all - it's an inevitable outcome. But this is just one lens, and I know there are plenty of sound arguments on both sides.

@yianisz Do you have more info on the differences between DLC-1 and DLC-2? Where did you find this out?

DLC-2 is not just a cooling tech, it’s a scaling enabler for the next trillion dollars in AI infrastructure. For investors, this is the underappreciated backbone of $SMCI's $40B FY26 revenue ambition, and a strong case for multiple expansion once execution resumes. DLC-1 already cut power usage by ~40%. DLC-2 is designed for $NVDA's Blackwell-era racks, which can draw 120kW+ per cabinet, well beyond what air or hybrid systems can handle. As liquid-cooled racks become mandatory, DLC-2 will become standard, not optional, especially for hyperscaler and sovereign AI builds.

@AT09_Trader Can I ask why you're short SMCI?

Frustrated on $SMCI short today, but looking forward to better action tomorrow I think gap down and sell off as MM’s unhedge their options

As far as I can tell... A company that has scaled significantly along with the AI infrastructure trend 10x revenue in 7 years by EOY FY26 (~$25B) 50-60% revenue growth in past 12 months Market leader in HPC servers in their segment Founder led company, with lots of related party transactions and close relationships amongst leadership Scaled production well, process not so much Got into an argument with their auditor, dug their heels in and lost (appointed a special audit committee, found no lack of independence) At this point the damage was done - auditor quits, delays in regulatory filings, whole thing smells bad Concerns about commoditization of servers and lack of competitive advantage not yet fully coalesced Price action wholly disconnected from fundamentals Shorts control the story for now... stock appears to be deep value if you can ignore the noise / FUD

@RadnorCapital Thanks for the response! I’m also a strong believer in $VRT and really appreciate your write-ups. - sanguine and comprehensive (amidst all the vol).

@ricny Hey Richard, thanks for the question. I missed it on the way up and never got involved. I'd rather own more Nvidia, given the defensibility / leadership of their product. SMCI feels more commoditized, and that is reflected in gross margin

@RadnorCapital Do you have thoughts on $SMCI? The short report and the supposed red flags (much of which has been written about already) are old information that is not aligned with personal outcomes. Over the past weeks, listening to the CEO and CFO, who have repeatedly assured that revenue will not be restated, you have a company that is highly leveraged to the well established AI infrastructure growth trend, growing at frankly, maximum speed - aka capacity. To fund inventory and capex responsibly they need access to well priced working and investment capital, so they are taking as much time as needed to establish the required internal controls and procedures with their new auditors (EY) to be able to go to market with an IG grade debt offering. This is a company that’s part of the fastest growing segment of AI servers - neocloud and proprietary cloud - over the next 5 years. In short, the fundamentals of AI server demand are incredibly robust and SMCI is participating in this.

@AdamJWynne @mydigitalself Feta is to horiatiki as parmesan is to Caesar salad.

@mydigitalself The cheese? I'm still long Feta

I could have got behind Feta.

@gocurb is there an $18 minimum charge on curb taxis in NYC now? Check these two trips… 1 block vs 14 blocks. Both $18

@VerizonBusiness tried to call your help center for some relief for our small business during Covid-19. Received a resounding no - and that our contract supersedes anything that's happening out in the world. What are you doing for small business?

@212CPA Had a very good experience with Anil at 212 Tax and Accounting Services. Had quite a nuanced issue that required additional research. Anil was able to answer all my questions quickly and backed up with referenced documentation.

@LIFX Hello?

@LIFX Hi there - have gone through your support site, received an automated response (though no ticket #) - it's been over a week now - when will someone help me?

@BulgariaAir Have tried to contact your London number over 20 times, no response, what's the best number to call your customer service on?

@Airbnb a host cancelled on me today, the day I arrived in Russia with my 8 month old child, and the best your support could offer me was a place over an hour away from my original place. This is ridiculous.

@mujiusa tried to use Mujimail promotion in NYC - store told me I was trying to scam them... turned out to be a UK promotion - disappointed to be treated that way

@VirginAtlantic Yeah - that'd be great - I'm trying to check in and cannot - it says to contact agent because my flight was cancelled and rebooked and now it says e-ticket not issued... and I'm flying tomorrow

@VirginAtlantic just hit the 2 hour mark for being on hold. Aware of call volumes... but this is a bit much. Surely there's a limit?

Trying all sorts of brew methods... pour over, espresso and #candvimmersion

@elonmusk Getting worrying... any suggestions on the Cape Town water situation?