All Issues

• No. 09 The wave makes landfall — SpaceX prints the largest IPO in history at ~100× sales, and the market admits it can't price what it just bought 14 June 2026
• No. 08 The $4 trillion question — AI floods the public market with paper, but nobody agrees who keeps the surplus 7 June 2026
• No. 07 The ROI reckoning arrives — Anthropic laps OpenAI at $44B ARR and turns the corner on margins, but Microsoft kills its Claude licenses and the enterprise token-spend bill comes due 31 May 2026
• No. 06 Anthropic added $11B of ARR in ONE month, EBIT-positive on the print, and compute-rationing per token by 70% — unconstrained = $100-200B ARR today 24 May 2026
• No. 05 Anthropic added $14B of ARR in April, Cerebras opened the AI-infra IPO window at $100B day-one, and the governance question quietly became the moat — featuring Krishna Rao direct 17 May 2026
• No. 04 The lean-ops thesis got five more voices, and the same operating model has a name now: AI founder mode 10 May 2026
• No. 03 The compute bottleneck has three floors, and the SaaS apocalypse just had its first wind-down 3 May 2026
• No. 02 Cursor at sixty, Anthropic at a trillion, and the year of the agent operator 26 Apr 2026
• No. 01 The Anthropic Moment, Nvidia's Rebuttal, and the 60% Problem 19 Apr 2026