u/ezitron

Hey all!

To celebrate a year of the premium edition of Where's Your Ed At, I'm having a one-week-long sale - $10 off the annual $70 subscription price *for life* until midnight on July 22. Thanks for reading and supporting my work.

https://edzitronswheresyouredatghostio.outpost.pub/public/promo-subscription/N9bqSLKBoS?ref=wheresyoured.at

As some of you may or may not know, the newsletter is now my primary source of income along with the podcast. Joining gets you a huge - 10k+ word - newsletter every week (though I'm taking a week off this one for the first time since December), and helps immensely. I email back and forth with basically every premium sub who contacts me at ez@betteroffline.com, and it's a direct way to support my free work too.

Anyway, time for a few days off, lol

Had a good interview with them a few weeks ago that just ran, the comments alone are hilarious, but one of my better interviews I'd say.

Joined the Tech Report to talk about how Microsoft, Google, Meta and Amazon buying AI GPUs is making memory - and everything else - more expensive in tech, turning them into asset-heavy, cashflow-negative behemoths thanks to their disastrous bets on AI.

Joined the tech report to talk about how Meta selling its compute - and NVIDIA continuing to pay to rent back its GPUs - are clear signs that we're overbuilding GPU capacity, and how that might go terribly wrong in the future.

Fun chat with Ed Elson about a subject that made me laugh so hard I made oinking noises.

I think it’s a tacit admission that Meta overbuilt capacity, and the bulls are trying to coming up with magical thoughts here.

Hello everyone,

It has been a very intense few weeks, somehow an acceleration of what's been a very intense few months, and I wanted to take a moment to thank all of you that listen to the show, read my newsletter, or otherwise support my work. I get the sense many of you follow across YouTube videos and posts, which is equal parts terrifying and touching. I have worked tremendously hard the last few years and it makes it worth it to receive such a warm reception and continued support.

Absolutely no idea when this lets up, recording two great episodes (Polymarket with Katherine Long and Caitlin Ostroff from the WSJ, SoftBank's Incredible Goose Adventure with Trashfuture), an interview with Investor's Business Daily, and putting together both what is shaping up to be a great free newsletter and a very special Hater's Guide.

I fundamentally believe the AI industry is losing. Things are not working out how they need to, and everything I've been discussing for years is becoming clearer, and in tangible terms that connect directly to the work. There will be no cheap thrills in this one. We will be able to point to direct things said on this very Subreddit in the future as proof that we were far ahead.

I am extremely tired, and was just about to write "but it looks like things might slo-" but stopped myself before the jinxing. Who knows where this crap goes next. Either way, much more fun covering it with all of you involved, cheers!

-Ed

Another rip-roaring tech report appearance with Isaac. Here's the blurb. I am very tired.

Author of Where Your Ed At and host of the Better Offline podcast Ed Zitron joins The Tech Report’s Isaac Pound to talk about OpenAI delaying their IPO and the multi-trillion dollar tech stock sell off that has followed a souring in public an investors confidence in AI.

Had an absolutely wonderful time on the Adam Conover show talking about the reflecting pool, Mamdani, the aI bubble, and SoftBank's golden eggs.

OpenAI is leaning toward holding off its initial public offering until next year, three people involved in the company’s deliberations said, a turnabout that punctuates the uncertain future for fast-rising artificial intelligence giants.

The maker of ChatGPT hired bankers and lawyers with an eye toward a public offering as soon as the third or fourth quarter of this year, the people said. Sam Altman, the company’s chief executive, pushed those advisers to find a way for the start-up to be valued at $1 trillion, up from the company’s last private valuation of $730 billion, according to the people involved, who did not want to be named because they were not permitted to speak publicly about internal deliberations.

I imagine this is a result of two things:

1. Most likely the heaviest force is the current state of the SpaceX IPO, which went well at first and then hit choppy waters this week, and is now below its $153 open.

2. The fact that their 2024 and 2025 financials came out and were real nasty! The Times did not cite me because, well, why would anyone do that, but still, gotta imagine it played some hand.

Either way this is a fairly significant event. I severely doubt waiting until next year increases their valuation dramatically, and the fact it isn’t going to be able to get a $270bn boost to its valuation in a listing is…troubling? For everyone involved. Anthropic too.

Had a good time on Chapo this week talking about, well, the AI bubble and the collapse of value in the tech industry.