@416ash retweeted
$GOOGL is best placed in terms of funding capex
$GOOGL cash position > $AMZN + $META combined
inaddition
$GOOGL hold ~$90bio of $SPCX
$GOOGL has ~$100bio in $ANT
which could be tapped post lockups
$GOOGL is way less dependent on capital markets than the rest
58/ Cash and funding
Money raised: ~$140B in cash from 2023 through H1'26 (preferred stock + convertible notes + SAFEs, per the S-1 cash flow statements). $110B of that came in H1'26 alone, including the $65.2B Series H.
Cash left at 6/30/26: $112.4B cash & equivalents + $19.3B short-term investments = ~$132B (plus $2.5B restricted cash).
Additional capacity: $15B undrawn revolver (expanded Sep'26), and up to $77B of partner note facilities (Google $20B, Amazon $15B tied to compute milestones, Broadcom $42B only to pay lease rent). IPO proceeds come on top.
How that compares (cash & liquid investments at 6/30/26, gross, before debt):
Alphabet: $242B
Anthropic: $132B
Amazon: $123B
Meta: $90B
Microsoft: $77B
Tencent: ~$75B (RMB511B)
Alibaba: ~$70B (RMB475B)
Anthropic is holding more cash than Amazon, Meta or Microsoft. But SpaceXAI alone runs ~$37B a year from Dec'26, against ~$780-810B of total compute commitments.
@416ash retweeted
$SOFI just dropped a monster Q3 2026 earnings report, smashing estimates across top and bottom lines 🚀
• Adj. Net Revenue: $1.37B (+44% YoY) vs $1.26B est
• Adj. EPS: $0.18 (+64% YoY) vs $0.17 est
• 12th consecutive quarter of profitability
Here is a breakdown of the key data from the presentation 🧵👇
@416ash retweeted
AI companies are hitting revenue, profitability, and return milestones in months that used to take years.
I’ve covered companies through multiple market cycles at hedge funds, including Citadel and Millennium.
Here are the key slides from our latest AI Value Chain Webinar 👇
@416ash retweeted
I'm old fashioned but I don't think journalists should be telling people ("joking") to go kill themselves
real talk @BradMBradford, you ran a hell of a race. it’s prob hard to not have really dark thoughts but please know you are alone and you should give into them
@416ash retweeted
$SOFI Q3 2026 visualized:
• Net revenue: $1.39B (+44% YoY)
• After credit losses: $1.37B (+44% YoY)
• Credit losses: $15M (+60% YoY)
• Net income: $241M (+73% YoY)
Revenue streams:
• Net interest: $929M (+59% YoY)
• Fees other: $456M (+21% YoY)
This should be a movie!
In 1941, a Spaniard walked into the British embassy in Madrid and offered to spy on the Nazis.
The British turned him down.
So he went to the Germans instead, pretended to be a loyal fascist, and got hired as a German spy. His plan was to lie to them for the rest of the war.
It worked better than anyone could have imagined.
His name was Juan Pujol García. Before the war he had tried his hand at running a chicken farm and a movie theater. He had no spy training. What he had was a deep hatred of both fascism and communism after the Spanish Civil War, and an incredible imagination.
The Germans gave him a codename, invisible ink, money, and orders to go to Britain and recruit spies.
He didn't go to Britain.
He went to Lisbon, Portugal, and made everything up.
Using a tourist guidebook, maps, magazines, newsreels, and a British railway timetable from the library, he wrote long, detailed reports about life in England. Military movements. Morale. Ports.
He'd never been there. He made mistakes. He didn't understand British money. He once reported that dockworkers in Glasgow would do anything for a liter of wine.
The Germans loved him anyway.
Then British codebreakers reading German messages noticed something strange. The Germans were hunting for a convoy that didn't exist, based on a report from some agent in Britain they'd never heard of.
The British went looking for this mystery spy. They found Pujol. In 1942 they finally took him on and brought him to London.
Now he had real help. MI5 gave him the codename Garbo, after the actress, because they thought he was the greatest actor in the world.
Together with his British handler, Pujol built a fake spy network for the Germans. It eventually had 27 imaginary agents. Each had a name, a personality, a job, and a backstory. A Welsh nationalist. A Venezuelan student. A Greek sailor. Some of them recruited their own imaginary sub-agents.
When they needed to explain why one agent had gone quiet, they killed him off. They even put a fake obituary in a Liverpool newspaper. The Germans reportedly paid a pension to his widow.
Who also didn't exist.
Then came D-Day.
Hours before the landings, the British let Pujol send a message warning the Germans that the invasion was coming in Normandy. It was timed so it would arrive too late to matter, but it made him look brilliant.
Three days later he sent the most important message of his career. Normandy was a trick, he said. The real invasion was still coming, at Calais, led by a huge army under General Patton.
That army was fake too. But the Germans believed him.
German forces that could have been rushed to Normandy were held back near Calais for weeks, waiting for an attack that never came.
The Germans were so grateful they awarded him the Iron Cross.
A few months later, King George VI made him a Member of the Order of the British Empire.
He's one of the only people known to have been decorated by both sides of the war.
After the war, afraid of revenge from surviving Nazis, he faked his own death from malaria in Africa and disappeared to Venezuela, where he lived quietly running a shop.
For decades the world thought he was dead.
In 1984, a British writer tracked him down. Pujol came back to Normandy for the 40th anniversary of D-Day and met veterans who had landed on the beaches.
Some of them thanked him.
@416ash retweeted
Anthropic filed its S-1 today to list on Nasdaq as $ANT.
Here are 10 key data points from the filing:
1⃣ Quarterly revenue grew ~31x, from $376M in Q1 2025 to $11.6B in Q2 2026.
2⃣ Compute and infrastructure costs grew only ~6x over that period, to $5.6B.
3⃣ Revenue per $1 of compute spend rose from $0.40 to $2.08. 🙀
4⃣ Customers spending $100K+ a year rose from 950+ to 11,900+ in twelve months.
5⃣ There are 1,900 customers spending $1M+, and about 250 spending $10M+; Net revenue retention was ~900%: year-ago customers now spend about 9x as much.
6⃣ The top five customers were ~21% of Q3 revenue, down from ~36% in Q1 2026, indicating a diversifying customer base
7⃣ Nearly half of revenue comes through cloud marketplaces; the other half is customers buying through them.
8⃣ Operating income at $974M in 2Q ‘26 after five quarterly losses.
9⃣ Total of 7 compute deals including $120.5B with SpaceXAI and up to $114.5 billion with Google through 2033)
🔟 Cash was at $131.7B on June 30 and is raising another $100B+ with this offering…likely to need to do more raises in the future…by our math the company has commited to spend $600B+
Revenue for Q3 and total committed spend are still not reported.
Those are the next numbers to watch.
The full S-1 is linked in the comments.
@416ash retweeted
Stepping up as POA: Navigating Aging, Advocacy and Unexpected Care
by Andrea Thompson
fpcollective.ca/stepping-up-…
@416ash retweeted
Parliament is in full swing with a big slate of digital bills: lawful access (C-22), social media ban (C-34), AI regulation and privacy reform (C-36). My Law Bytes podcast this week: a fall update on where each stands and what to watch in the weeks ahead.
michaelgeist.ca/2026/10/the-…
@416ash retweeted
Wonderful job, Mr. Carney. Truly impressive.
By the first quarter of 2026, real GDP growth since Q1 2025 looked like this:
USA: +2.7%
Australia: +2.5%
OECD average: +1.7%
Canada: −0.1%
Dead last among the economies shown.
We were promised economic competence, investment, productivity and prosperity. Instead, Canada spent a year falling further behind its peers.
Yes, American tariffs are a problem. But Canada’s weak productivity, regulatory burden and investment climate didn’t begin with Trump.
Carney was sold as the man who could fix Canada’s economy. Canadians have every right to judge him by the results rather than the speeches.
Turns out, managing an economy is considerably harder than talking about one. 🤡🌎
@416ash retweeted
🚨 WATCH: Isaiah Martin @isaiahrmartin explains what a trade deficit is to a MAGA moron.
"Michael, you have a trade deficit with McDonald's..."🤣👇
@416ash retweeted
McGill’s law school receives roughly 1,500 applications for just 180 spots.
It gave one of those spots to a convicted murderer in his mid-60s, who will never pass the good character requirements to practice, and who violated his parole multiple times.
theglobeandmail.com/opinion/…
@416ash retweeted
Bill C-22 is a dangerous, unnecessary, expansive law, that weakens encryption, makes Canadians less safe, and risks violating charter protections against unreasonable search and seizure.
How exactly does this make "Canada Strong"?
cba.org/our-impact/submissio…
eff.org/deeplinks/2026/10/ca…
@416ash retweeted
Global News should note much more prominently that this poll was commissioned by CUPE Local 416 (Toronto Civic Employees’ Union), who have formally endorsed Chow as their preferred candidate
Toronto election: Chow holding decisive lead over Bradford, new poll indicates
globalnews.ca/news/12118421/…
@416ash retweeted
Among G7 countries, Canada has the highest share of venture capital tied to government.
In 2025, 36% of the money raised by Canadian VC funds went to funds backed by federal programs, compared to 23% in France, 8% in the UK and about 4% in the US.
The @bdc_ca allows the federal government to back Canadian entrepreneurs and fill gaps left by private lenders and investors, including by backing startups directly.
In 2025, it was the source of 3.5% of Canadian VC investment.
Across companies like @XanaduAI, @NasdaqVerafin, and @dwavequantum, the BDC's biggest wins have netted upwards of $10B USD in investor gains.
Thanks to @AnitaAnandMP and her family, much of Canada’s blood work is now done by American companies (Quest/Dynacare/LifeLabs).
When will Canadians know of any breech of our data? Shouldn’t our privacy rights and medical data be re-patriated, and away from U.S. lab testing or blood profiling?
@416ash retweeted
Being named executor of a loved one’s estate can feel like an honour, but it’s also a lot of work, and settling an estate typically takes at least a year.
Here’s what to know before you say yes:
moneysense.ca/save/financial…





































