Ed Zitron (@edzitron.com) | Grilled Cheese

@edzitron.com Aug 7, 2026, 6:02 PM Pinned

Premium Newsletter: The Hater's Guide To NVIDIA Part 2, the story of how it became the AI Bubble's GE Capital, propping up unsustainable companies and conning hyperscalers into buying GPUs to restart growth in the post-ZIRP economy.
www.wheresyoured.at/premium-the-haters-guide-to-nvidia-part-2/

wheresyoured.atPremium: The Hater's Guide To NVIDIA (Part 2)For a little under a year, everyone — myself included — has compared NVIDIA to Enron, largely because NVIDIA insisted, in detail, that it was nothing like Enron, WorldCom, or Lucent, a potent example ...

@ceprdc.bsky.social Oct 9, 2026, 5:03 PMReposted by @edzitron.com

$413 billion of Anthropics compute agreements are non-cancellable, and OpenAI has billions more to pay to Google, Microsoft, and Amazon. @edzitron.com asks how they are possibly going to pay this money back?

Watch: https://www.youtube.com/watch?v=rHaPfdnRoZ4

@edzitron.com Oct 9, 2026, 4:09 PMReposted by @edzitron.com

Premium Newsletter: The Hater's Guide To Junk, the world of high-yield debt where Anthropic and OpenAI will have to play if they want to survive post-IPO - and why the same leveraged loans that killed multiple software companies may be their only option.
www.wheresyoured.at/premium-the-...

@edzitron.com Oct 9, 2026, 4:09 PM

Premium Newsletter: The Hater's Guide To Junk, the world of high-yield debt where Anthropic and OpenAI will have to play if they want to survive post-IPO - and why the same leveraged loans that killed multiple software companies may be their only option.
www.wheresyoured.at/premium-the-...

@edzitron.com Oct 9, 2026, 2:39 PM

next week on Better Offline: The Hater's Guide To Bonds with @robinwigglesworth.ft.com

@edzitron.com Oct 9, 2026, 12:37 AM

Been a great day for me @westinlee.itch.io and the three other people who care about the misuse of annualized run rates

@edzitron.com Oct 8, 2026, 7:35 PM

nope

@edzitron.com Oct 8, 2026, 4:59 PM

@edzitron.com Oct 8, 2026, 4:50 PM

Man standing in front of big neon sign that says “is that good?” As the crowd chants the same. Art by Mattie lubchansky

@edzitron.com Oct 8, 2026, 4:50 PM

According to sources familiar with the matter, someone made up the numbers entirely, and uhhh,,,,,,,,

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According to a person with knowledge of the matter, the discrepancy arose from attempts by OpenAI’s own investors to produce a direct comparison with Anthropic’s annualised revenues. The pair calculate the figure in different ways, with Anthropic including the revenue from sales via cloud partners such as AWS and Google Cloud, while OpenAI does not.

@edzitron.com Oct 8, 2026, 3:36 PM

got to a point where I just block or mute anyone who responds with "they're expecting bailouts" to any piece about Anthropic/OpenAI/AI in general who can't express exactly how that will happen. It's intellectually lazy at this point to just blurt it out without a second thought

@edzitron.com Oct 8, 2026, 2:11 AM

Now I’m going to have to

@edzitron.com Oct 8, 2026, 1:58 AM

Primetime was so, so good. Pattinson is incredible. Nails the grotesque barbarism of the time, beautiful movie. Going to be doing his Chris Hanson voice to myself all week

@edzitron.com Oct 6, 2026, 3:07 PMReposted by @edzitron.com

Free newsletter: Outside of major hyperscaler backstops, I estimate that Anthropic and OpenAI would get a speculative B or CCC credit rating, which would be insufficient for the $50bn-$100bn a year they need, in an era of historically high interest rates.
www.wheresyoured.at/credit-crunch/

@edzitron.com Oct 7, 2026, 9:49 PM

Great time to do this sirs! Genius!

@edzitron.com Oct 7, 2026, 4:36 PM

That I remember? Three. Four or five if you count the 90s and dot com when I was too young

@edzitron.com Oct 7, 2026, 3:07 AMReposted by @edzitron.com

Joined @arimelber.bsky.social on MSNOW talk about the AI bubble, Treasuries and the growing cost of AI data center debt, and how Oracle and Paramount’s debt threatens Larry Ellison’s future.

@edzitron.com Oct 7, 2026, 3:07 AM

Joined @arimelber.bsky.social on MSNOW talk about the AI bubble, Treasuries and the growing cost of AI data center debt, and how Oracle and Paramount’s debt threatens Larry Ellison’s future.

@edzitron.com Oct 6, 2026, 10:12 PM

“I have constant neck pain”

@edzitron.com Oct 6, 2026, 10:03 PM

Joining @arimelber.bsky.social in studio on MSNOW at around 6:40PM (ET) to talk about AI, data centers and the economy

@edzitron.com Oct 6, 2026, 3:28 PM

imagining one of the hedge fund CEOs or investment bankers reading this and being introduced to the phrase 'goatse-level spreads'