ChatGPT Misses, Firmus Flops, and Bitcoin Shrugs

ChatGPT Misses, Firmus Flops, and Bitcoin Shrugs 

This week's episode includes a review of the bitcoin market before turning to the macro backdrop, where the latest Fed minutes point to the possibility of another rate increase this year, but no urgency for an October move. The conversation also covers reports that ChatGPT fell short of its revenue targets, as well as Nvidia-backed Firmus Grid's decision to shelve a planned $5 billion IPO in Australia after investors pushed back on its proposed $30 billion valuation. Together, these raise the question of whether investor appetite is starting to test the limits of the AI buildout.  

Also on the docket is SpaceX's agreement to acquire cellular spectrum licenses from Grain Management for roughly $8 billion. The episode closes with the Chart of the Week, which traces five waves of US innovation from personal computing to AI.  

Remember to Stay Current! 

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This podcast is for informational purposes only and should not be construed as investment advice or a solicitation for the sale of any security, advisory, or other service. Investments related to the themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts mentioned by the host are subject to change. Listeners should consult their personal financial advisors before making any investment decisions.