Sam Ro 📈 retweeted
FT: Treasury secretary Scott Bessent told investors in a private meeting that he did not see a “systemic problem” with the AI boom, downplaying concerns that the industry is in a bubble like the one that preceded the dotcom bust.
“I’m good at figuring out when there are problems in systems,” Bessent, said when asked about AI in an interview with Bridgewater chief executive Nir Bar Dea, according to three people who were present at the event. “I don’t see a systemic problem.”
Some big personal news: I'm moving to join Works in Progress as executive editor, starting next month. I have been hoping for an opportunity to work with @bswud and @s8mb for more than a decade, and I'm incredibly excited to finally have one.
WIP is expanding on every front right now. We'll soon begin coverage of business and finance, as well as putting out more reported features. To that end, we'll be hiring more writers and reporters in the year to come. I'm planning to remain based in the US to help build out our presence here.
The print edition of WIP has existed for less than 12 months, but sometime in the next week or so we will reach our 10,000th paying print subscriber. It's a group that now includes people who've been at the highest echelons of government and who run the world's biggest public companies. We’re already on track to 3x that number next year. We'll be in store at Barnes & Noble, Hudson News and independent newsagents next week too.
I think WIP is providing something that people are craving from physical media right now: fewer, extremely well-crafted pieces in a beautifully designed form. Issues now feature an amazing group of columnists, including Tyler Cowen, Dan Wang and Stephen Kotkin. Each edition is better than the last.
You'll see us in more and more places next year too. In January, our new weekly documentary films will launch on YouTube. We're expanding into the events space, with a new series in North America. The sky is the limit from here on out.
Sam Ro 📈 retweeted
As Daylight Saving Time ends on November 1, sunset times across the U.S. will shift significantly earlier. Many major cities will see the sun go down before 5:00 PM.
I was out of Taijin, so I sprinkled lemon pepper seasoning on some sliced fruit. It's not the worst!
Sam Ro 📈 retweeted
We ran the numbers and found why certain stock pickers are having a terrible year.
Active managers in Morningstar's large-blend category started the year **underweight** AI stocks compared with the S&P 500 by more than 8 percentage points, with a 28.4% holding compared with the index’s 36.5%
Being an AI skeptic has burned many of them
@GZuckerman @WSJmarkets
wsj.com/finance/stocks/stock…
Next, ask the kids to audit their parents’ screen time during work hours
This is an incredible project: NBC News asked parents to check their kids' YouTube history during school hours — and the results show kids are spending huge chunks of the day watching videos that have nothing to do with learning
nbcnews.com/specials/hooked-…
Breaking news—I’ve joined @citrini as its short form video monkey!!
Watch our first one on this morning’s nuts paper
If Nick Colas says something is hard to do, then it’s hard to do
“Getting out is easy, but getting back in is hard,” @DataTrekMB co-founder Nicholas Colas once said. “I’ve seen every major market low since the 1980s, and none of them were even remotely obvious.”
Nice reminder in @SamRo's note today.