FYI - For Your Innovation

Elon Musk put a $1 trillion revenue number on SpaceX, and the sell side has been staring at its models ever since. "Roughly five times wrong relative to what Elon said 2028 revenue could be," says Alex Potter of Piper Sandler. "That's absurd."

ARK hosted the call after the calls: a live post-earnings breakdown of SpaceX and Tesla with buy side and sell side in th...

In this episode of The Brainstorm, Ara Kharazian, lead economist at Ramp, joins Sam and Brett with data from 80,000 businesses and over $275 billion in annual spend. His latest research, “Cracks in the AI Thesis,” finds AI spend is extraordinarily concentrated, with 1% of businesses driving 80% of it, and that those heaviest adopters are now slowing their spend even as token ...

In this episode of The Brainstorm, Sam, Nick, and Brett open the Anthropic S-1, maybe the most impressive twelve months of revenue growth in corporate history, and debate whether a major AI-enabled cyberattack would be good or bad for the frontier labs. Then Nick breaks down Meta’s $90 billion raise, the filing suggesting Zuckerberg could raise $700 billion before losing voti...

In this episode of The Brainstorm, Sam and Brett cover a week of exciting developments. Brett was at the Tesla Roadster unveil in person and argues the event was primarily marketing for a prospective SpaceX Tesla merger, pointing to the swapped order of the earnings calls, SpaceX executives quietly following Tesla accounts over the weekend, and the window a shareholder vote w...

In this episode of The Brainstorm, Sam, Nick, and Brett open on OpenAI’s release of 722 mathematical proofs and the one subject conspicuously missing from it, cryptography. Brett argues the nearer term threat to crypto is AI rather than quantum computing, and that the danger sits not in the cryptographic primitives but in everything built around them, from self-custody hardwa...