Yesterday, there was large flow volume on this $EBAY 106 call expiring 05/08/2026. Then literally TODAY, GameStop, $GME, is reportedly looking to acquire eBay, per WSJ. Unusual. Someone always knows.
Spirit Airlines' efforts to secure a $500 million rescue package from the federal government fell through Friday, a last ditch effort to save the budget airline. According to the Wall Street Journal, Spirit will cease operations starting at 3 a.m. Eastern on Saturday.
In a 6-3 ruling Wednesday, the U.S. Supreme Court's conservative majority struck down one of Louisiana's majority-Black congressional districts. The decision weakens key protections under the Voting Rights Act and could open the door to broader legal challenges over
A federal appeals court has restricted access to one of the most common means of abortion in the U.S. by blocking mailing of prescriptions of mifepristone.
OKX agent payments protocol launched with ethereum foundation AND solana co-signing the same standard. that never happens. 50m+ agent transactions on coinbase in Q1, USDC velocity at 30x all time high. the standard itself has maybe a 15% chance of becoming dominant. 40% chance it
BREAKING: Spirit Airlines' attempt to emerge from bankruptcy was derailed by surging jet fuel prices amid the Iran War. Spirit is now spending an additional $10 million to $15 million on fuel per week as a result of the war.
Clauding / Codexing / Grokking >> passive scrolling Vibe coding is more dopaminergic than doomscrolling [QT @a16z: Meta's DAUs just dipped for the first time since 2021]
computershare manages the shareholder registry for 60% of the S&P 500. $37 trillion in assets under administration. they just partnered with coinbase to tokenize real shares on base L2. full dividend rights, voting rights, 24/7 trading, instant settlement. not synthetic wrappers.
Jevon's paradox remains undefeated [QT @Konstantine: Narrative violation and great insight from the latest Citadel Securities banger by Frank Flight: 'We illustrated back in February that demand for software engineers, the most AI exposed occupation was accelerating higher, which we argued violates the displacement narrative.']
A Chinese court ruled that companies cannot terminate employees just to replace them with artificial intelligence systems, as authorities juggle the need to stabilize the domestic labor market with a global race to develop AI technologies.
US President Donald Trump expressed frustration with Iranian negotiations but stopped short of threatening to end the brittle ceasefire between the countries and order fresh airstrikes.
Germany's defense minister said Europe must assume greater responsibility for security in the region, while emphasizing the importance of shared military interests with the US. This after the US said it would withdraw troops in Germany.
Germany's automotive industry pleaded for an urgent de-escalation in the tariff dispute between the US and the EU and called for immediate talks between the two after Donald Trump said he would increase auto tariffs on the bloc next week.
SPIRIT AIRLINES IS NOW GONE
Spirit Airlines has shut down. The company sent this note out to people with flights
"We regret to inform you that all Spirit Airlines flights have been canceled, effective immediately"
The world's largest container carrier plans a new service linking Europe with isolated Middle East ports, using trucking across Saudi Arabia and smaller vessels in the Persian Gulf instead of transiting the blocked Strait of Hormuz.
For all my talk about the value of AI diffusion, near-term diffusion of GLP-1 and similar drugs to every obese person seems straightforwardly more beneficial than near-term diffusion of eg coding agents to every worker in America.
Elizabeth Warren was key in blocking the JetBlue/Spirit merger to "protect consumers"… The result? Spirit liquidates after 34 years. 16,000 employees just lost their jobs and the bigger airlines can now raise prices even more. Always wrong, never in doubt.
BREAKING: Berkshire Hathaway announces its cash balance is now up to a record $397 billion. The company sold a net -$8.1 billion worth of stocks last quarter, marking its 14th-consecutive net quarterly sale.
Posted the day after Trump ordered the removal of 5000 US troops from Germany in a decision a German lawmaker told me was the result purely of the U.S. president's "angry mood."
Iran earned ~$14 billion; Hegseth: "Iran is financially devastated right now"; Moulton: "They've earned about $14 billion. Does that sound like winning?"
Moulton: How much has Iran profited from your administration lifting the sanctions? Hesgeth: Iran is financially devastated right now Moulton: They've earned about $14 billion. Does that sound like winning?
China ordered companies in the country not to comply with US sanctions on five domestic refiners linked to the Iranian oil trade, a move aimed at softening the impact of penalties.
morpho absorbed $8b in deposits during the aave crisis. that's the fastest TVL migration in defi history. aave went from $45.8b to $29.6b in days. now aave V4 is launching with hub-and-spoke isolated markets, basically admitting unified liquidity pools were a systemic risk
Leo Aschenbrenner has turned $250M into $6BN in just 13 months. If this post gets 10,000 likes I will fly round the world and interview the CEOs of his top ten positions. Sit down interviews with all of them. Behind the scenes, the research, the whole lot, open-sourced.
After the best month for stocks in six years, the market is in 'very overbought' territory now. That makes it ripe for a pullback warns portfolio manager @LanceRoberts
As @jessefelder rightly notes of a must see interview this week w/legendary investor @ptj_official 'Forward profit margin expectations for the 493 are strikingly disconnected from the trend of recent years' (He, of course, refers to $SPX net of the Mag7)
Larry Page: 'I'm willing to go bankrupt rather than lose this race'; AI capex vs. dot-com fiber overbuild analogy (WorldCom, JDS Uniphase, Lucent, Alcatel, Nortel)
This race will produce the largest consumer surplus since WorldCom, JDS Uniphase, Lucent, Alcatel, and Nortel bankrupted themselves building out fiber networks for broadband internet.
How to drive the billionaires out and ruin the California tax base in one fell swoop: propose asset seizure measures. Make it make sense! Middle class taxpayers will take on all the billions in tax revenue lost. How the 5% California wealth tax is a 67% wealth tax for Sergey Brin: >Owns 3% of GOOG. >Holds 25.3% of voting rights. Wealth tax is assessed as the greater of his ownership or voting rights. So his tax is 5% * his 25.3% voting ownership = 1.27% of the value of GOOG.
President Donald Trump endorsed Representative Andy Barr, one of the Republicans running to replace former Senate Majority Leader Mitch McConnell in Kentucky's primary election later this month
Oura sells $99 blood panels via Quest. WHOOP and Hims too. Function Health, valued at $2.5B, now integrates with ChatGPT Health for AI-assisted result interpretation. Patients are ordering tests their PCP never ordered, getting results their doctor never saw, and interpreting
Elon Musk testified for more than seven hours over three days in his $150 billion lawsuit against ChatGPT parent OpenAI and CEO Sam Altman. Here is what we learned from the first week in court
"The unemployment rate is low. The stock market is high. Consumer spending is healthy. But ask Americans how they're doing, and you'd think we were in a recession," per WSJ
Co-sign. [QT @Dan_Jeffries1: Jensen is one the smartest and most far seeing folks the world. "If an AI scientist warns people that AI is going to permeate across radiology and radiologists are going to get wiped out, it might seem helpful but it's hurtful. If we convince everybody not to be radiologists and..."]
An India-linked supertanker laden with liquefied petroleum gas is attempting to transit the Strait of Hormuz, a rare crossing that underscores the country's struggle to alleviate a historic energy crisis
Quantifying big model smell [QT @justanotherlaw: A recent viral paper claims to reverse-engineer the parameter counts of frontier models: GPT-5.5 = 9.7T, Opus 4.7 = 4.0T, o1 = 3.5T, etc. @ben_sturgeon and I investigated and found serious issues in the paper; fixing them gives GPT-5.5 as ~1.5T (90% CI: 256B-8.3T).]
Prediction markets are booming. They also face a widening legal battle with US states and criticism over alleged user insider trading. Here's how they got so controversial
pre-IPO perps on hyperliquid are paying shorts 113% APR in funding on anthropic. cerebras listed at 2x its last private round. 83% of hyperliquid traders lost money in march. the funding rate arb is printing for anyone running delta-neutral while degens
GPT 5.5 is crushing research tasks that Claude 4.7 was f*cking up in annoying subtle ways. The time it would take to find these mistakes would be a huge negative and breach of trust. 5.5 OTOH actually delivers the goods. Kudos to OAI team y'all cooked 👌
Universal Basic Compute gives people fuel for agency rather than sedation through UBI. I'd rather live in a neuro-capitalist future where people do awesome things than some sort of communist dystopia of government handouts. side note: Sama must be reading my tweets 😆 [QT: Sam Altman famously spent $14billion on the largest UBI study ever conducted, only to watch the results land with a shrug: more spending, no measurable health improvements. Now he's saying collective ownership of AI through compute shares or a Public Wealth Fund.]
ECB Governing Council Member Olli Rehn said it's "clear" that monetary policy must react fast to any signs of inflation becoming entrenched in the economy through higher wages and prices.
Narendra Modi once made a bet that higher trade barriers would lure global firms to relocate production to India. That template now is being cast aside.
What a difference 24 hours makes: @SpiritAirlines lost its lift, taking down 15k workers @EsteeLauder 2025 face lift fell flat, taking down 3k more employees w/it @Cboe executed its WFH policy & 20% of its staff @KPMG_US consulted w/itself & found it needed 400 fewer advisors
A tweak by India's central bank to the definition of shadow lenders has potentially revived the debate about whether Tata Sons — the controller of one of the country's largest conglomerates — could be forced to list in the near future.
The fire at a marine terminal in Russia's Black Sea port of Tuapse has been extinguished following Friday's Ukrainian drone strike, Krasnodar region emergency authorities said on Telegram.
Hungary's incoming government said it is planning emergency steps to help farmers as a dry spell during much of April is leading to a severe drought in the grain-producing country.
Ukrainian President Volodymyr Zelenskiy and Slovak Prime Minister Robert Fico agreed to continue high-level contacts despite ongoing differences over Russian energy supplies.
Some key distinctions here: When I said unlike the dot com bubble, I was talking about companies that are using the infrastructure making good money, not the ones just selling picks and shovels
$400M ARR growing 30% used to be great. It is not anymore. In today's market, the bar is much higher, you need to be on a path to $1B+ growing 40% to generate real outcomes. Anything below that risks becoming a 'good company' with a bad IPO. @jasonlk
With fixed pay legs of 10 Year swaps recieving 3.93% with swap spread at 43bp with Kim term premium at 65bp Leveraged bond buyers only get 23bp of expected return vs cash. This on a 5% vol item. Sharpe Ratio of .23/5= 0.046. Why in gods name do people want leveraged
The team, led by Professor Zhao Yongxiang at Guangxi Medical University, used a modified virus to insert a pig-related marker (called α-Gal) into tumor cells. Humans naturally have antibodies against this marker, so the immune system then attacks the flagged cancer cells.
A year ago, private equity firms were vying to acquire Gerresheimer, but the German company is now embroiled in an accounting debacle. Read more in The Brink.
Transportation Secretary Sean Duffy said he doesn't think the US government needs to provide financial lifelines for now to other low-cost carriers, following the collapse of Spirit Aviation Holdings Inc.