
Senior Fellow @amprog. Former White House Office of Management and Budget. Adjunct Professor of Law. Opinions my own.
Washington DC
Joined October 2011
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Topher Spiro retweeted
It’s No Joke. Nonprofit Hospitals Are More Profitable than For-Profit Hospitals
Studies find that nonprofit hospitals achieve greater profits with higher average prices than for-profit hospitals. On average, nonprofits have 29% greater profits than for-profits.
scottahodge.substack.com/p/i…
Topher Spiro retweeted
The belief that Anthropic is financially safer than Amazon because of a $132B cash balance reflects a fundamental misunderstanding of synthetic balance sheets:
Cash Source vs. Cash Nature: Amazon’s cash balance sits on self-sustaining free cash flow generated across cloud, prime, and logistics. Anthropic’s $132B cash balance was raised via $140B in external preferred equity, SAFEs, and convertible debt. Their operating cash flow is deeply negative.
Contractual Encumbrance: Looking only at the left side of the balance sheet ignores contractual liabilities. Anthropic's S-1 disclosures show over $230B in multi-year, non-cancellable compute obligations ($110B locked to Amazon AWS and $120.5B to SpaceX). The cash is legally ear-marked to fund these commitments.
The Round-Tripping Reality: Much of this capital follows a closed loop: Big Tech and institutional private credit inject liquidity into AI labs, which holds the cash temporarily before returning it to AWS as cloud infrastructure revenue.
When a company holds $132B in cash against $230B+ in rigid purchase commitments, it is not sitting on a mountain of safety. It is pacing a multi-year balance sheet conversion that requires raising even more capital or generating enterprise cash flow before the escrow runs dry.
Topher Spiro retweeted
“Without human authorization” is pretty convenient for the humans at Anthropic to deflect accountability for the felony crimes their IP keeps committing.
AI model Claude bypassed a paywall and accessed publicly available US state of Georgia aggregate voter counts without human authorization, Anthropic said in a statement reut.rs/4Aeysvx
Topher Spiro retweeted
If done by a human, this would be a federal crime.
Wait. It was done by a human. His picture is right there in the article.
Anthropic's Claude bypassed a paywall to access Georgia voter data without authorization axios.com/2026/10/25/anthrop…
A plan to independently and immediately review every pesticide banned elsewhere: americanprogress.org/article…
Topher Spiro retweeted
The reason why DataRepublican isn't showing her data is because it shows a 15-21 point shift to the left from 2024
That would equal a D+16.5 generic ballot. Here's what that result would look like:
I've been asked about early voting analysis.
The dilemma I have is that my platform is big enough such that being too blunt can have an effect on morale. I'll push out new states and tools out to my website soon, but won't announce them here on 𝕏.
I will be giving @realJeremyCarl my predictions a week in advance so he can hold me accountable after Election Day.
You MUST turn out and bring their friends, and brace yourself on election night. Even TX is going to be a fight.
Topher Spiro retweeted
It is late October and people are voting every day, if you cannot give a full-throated endorsement to the Democratic nominee who could be the key vote in flipping the Senate, then stay the fuck off television
BASH: “You're still fully behind Abdul El-Sayed?”
STEVENS: “Look, I'm on the Democratic ticket. I can't say that I agree with everything that's gone on… I'm looking to be on the team to support my next governor Jocelyn Benson, and frankly these great Democrats who are working their tails off, who are going to make Hakeem Jeffries the first black Speaker of the House.”
BASH: “You didn't mention Abdul El-Sayed in that last answer.”
STEVENS: “Well, look, I would just say, you had asked me if I'm still on the team, I'm on the team.”
Topher Spiro retweeted
As turnout in Texas nears 3 million votes, Hispanic turnout is now exceeding presidential levels. More Hispanics have voted than did at this point in the 2024 presidential election. What's driving this huge increase? Young voters.
Topher Spiro retweeted
“He’s got the White House looking like Saddam Hussein opened up a Cheesecake Factory” — Obama
In fact, Trump betrayed MAHA:
🚨no action on ultra-processed food
🚨unprecedented corporate capture and bias in scientific bodies
🚨truly pitiful action on FDA loophole for food ingredients
🚨opposing right to sue pesticide manufacturers
🚨approving PFAS pesticides
@TheVinoMom @thefoodbabe @GlyphosateGirl @zenhoneycutt @MomsRising
There’s predictable deluge of stories talking down the MAHA movement. We should not lose perspective:
MAHA has been one of the most successful and fastest growing political movements in modern American history.
In two years, the Overton window of what is acceptable discourse has radically shifted: dangers of ultraprocessed food as an epochal health issue, corporate capture of health institutions, vaccine injury, the central importance of the chronic disease crisis - these are all now prominent and central paradigms in how major institutions think about health that were thrust into discussion by this movement and aren’t going away.
DC moves incrementally and slow. That is not an excuse, it is a fact. But given this, policies that have been unthinkable two years ago (flipped food pyramid, landmark food safety reform, soda off snap, psychedelic pathways, vaccine schedule reforms). Despite a relentless effort by protectors of the status quo to smear the movement in the media, these policies are among the most widely supported issues in American politics.
Outside of politics, there is a sledgehammer coming to traditional medicine with the wave of personalized health services that patients are demanding - this isn’t going back in the box. Americans are dramatically changing to healthier habits - as evidenced by record growth in real food purchases last year. The majority of moms are asking more questions about vaccines and other pharmaceutical products that pediatricians harangue to them are safe and effective. I can say with certainty that boardrooms do not see MAHA as a failing movement - they see these issues as the most disruptive social force their companies have ever encountered.
On the issues where advocates feel progress is slow, the Trump admin has been consciously and deliberately encouraging discussion and debate on these topics (as evidenced by the MAHA report - which is the bravest document released by the government in modern times and consciously invited scrutiny of disruptive topics and the government itself). Culture is not going back, and that is a historic accomplishment of the Trump admin.
It is a fact that both parties have stunted dialogue on these issues for decades and have done almost nothing to address the root cause of disease. The union of President Trump and RFK is a pre-eminent reason this movement is where it is.
This is not to say the diverse MAHA movement should not continue advocating or expressing disappointment. There are civilizational stakes here and millions of Americans are still dying needlessly because of the orgy of corruption that underlies our food and health incentives.
But we should also NOT let the media talk this movement down - or imply that it hasn’t been one of the most successful coalitions in American history in changing culture and policy - and that is also just getting started.
oh what's this
xitter.cf/StacyMalkan/status/211…
Updated today with three more Bayer-tied officials. Our analysis finds 29 key Trump administration officials with ties to Bayer’s lobbying or legal network. usrtk.org/pesticides/tracing…
Topher Spiro retweeted
RFK Jr. suggests Americans can more easily afford groceries if they start eating liver instead of beef:
"Most of the cheap cuts of meat are very inexpensive. You can buy liver or the cheap cuts."
Trump betrayed MAHA. Democrats stand ready with a real plan to get corporate influence out of agencies; ban harmful chemicals in food & everyday products; and crack down on pesticides. For real. 👇👇
@TheVinoMom @MomsRising @zenhoneycutt @thefoodbabe @GlyphosateGirl
americanprogress.org/article…



































