It doesn't matter what you want to do.

A lot of people think that way.

Leadership isn’t about preference. It’s about necessity. Success is inversely proportional to your level of comfort.

If Churchill only did what he wanted, he’d have been drunk in his garden naming pigeons after himself.

AI won't kill every job.

Jevons' Paradox: when tech makes something efficient, we use MORE of it. Thank Jevons for the streaming age that gave us Netflix and hot-garbage.

Like Emily in Guantánamo Bay.

AI isn't a substitute for judgment. It's a consultant fresh out of b-school.

Gold broke up with economics in 2022 and never looked back. The old paradigm got ghosted.

Since then, the metal’s been dating mood, not math.

It’s what happens when confidence starts trading like a commodity.

stohl.substack.com/p/gold-hit-4...

WSJ says Wall Street is poaching bankers in a red-hot job market. The best way to stop a bank run is to scramble them.

Well, at least it’s being honest.

Workslop is marketing’s dress worn by other departments. It feeds on our blind trust in polish. Underneath is just a sock pretending to be a bulge.

Enter subslop: recycled quotes, positive affirmations, and audience tips dressed as original insight.

OpenAI has a cure for hallucinations: teaching ChatGPT to say I don’t know.
Hilarious, because that’s exactly how you kill ChatGPT overnight.

We don’t want accuracy, we want confidence. Delusion dressed as certainty. We want to be told what we already believed.

theconversation.com/why-openais-...

AI doesn’t save broken companies any more than spreadsheets saved bad CFOs.

Salesforce cut 4,000 and bragged about productivity gains like bragging about weight loss after cutting off your leg.

Investing has turned into theater with a ticker symbol.

New post:
The Bonfire of the GPUs

open.substack.com/pub/stohl/p/...

tl;dr:
AI needs two miracles to work. Infra spend starts acting like there’s a CFO in the room. And, the tech does more than win benchmark tests.

If you’re still bullish, just remember that hope doesn’t offset depreciation.