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Benedict Evans says infinite demand for tokens does not guarantee pricing power: "Right now, we're in this period of extreme disequilibrium of supply and demand and price and CapEx and capacity. But just because demand for tokens is infinite, that doesn't mean that you can't get to a different...

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a16z

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39,810 просмотров • 2 месяцев назад •via X (Twitter)

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PBAT: “..I don't believe in price control but market supply, It's a question of supply and demand..” Do you now agree with him??🤔
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PBAT: “..I don't believe in price control but market supply, It's a question of supply and demand..” Do you now agree with him??🤔

A. Ayofe

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AWS CEO, Matt Garman, on CapEx and demand: "The potential business for us is just massive. We see this as a huge opportunity for us to really invest and help customers take advantage of of the AI opportunity, so we will keep investing. As Andy kind of called out last week, we have really great insight into what the demand is going to be from customers. So when we invest, and we will keep investing in CapEx next year as well, we have great insight into when that revenue is going to land. Much of our capacity is already spoken through the end of 27 and even through much of 28, so as we're investing, we're getting five year commitments from customers...I expect us to keep investing as we see opportunities and and some of that we'll see how the the market continues to grow, but right now we're excited about our investments and and we'll continue to invest." $AMZN Via Bloomberg
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AWS CEO, Matt Garman, on CapEx and demand: "The potential business for us is just massive. We see this as a huge opportunity for us to really invest and help customers take advantage of of the AI opportunity, so we will keep investing. As Andy kind of called out last week, we have really great insight into what the demand is going to be from customers. So when we invest, and we will keep investing in CapEx next year as well, we have great insight into when that revenue is going to land. Much of our capacity is already spoken through the end of 27 and even through much of 28, so as we're investing, we're getting five year commitments from customers...I expect us to keep investing as we see opportunities and and some of that we'll see how the the market continues to grow, but right now we're excited about our investments and and we'll continue to invest." $AMZN Via Bloomberg

P Equity Research 📰

51,365 просмотров • 24 дней назад

Buttigieg: Usually you're trying to fight those kinds of price effects that consumers are facing, not doing what the Trump administration is doing, which is actively causing them. Vladimir Putin launched a war. The result was that there were supply shocks and oil went up, and then we all did everything that we could in the administration, and all of us as Americans, did what we could to deal with that. Here you have a very different situation. The president launched a war of choice, and now we're all dealing with the consequences and the people who are paying the heaviest price, of course, are the service members, many of whom have given their lives, over 200 have reportedly been injured. But also every American is paying the price. Mortgage rates are going up because of this war. Grocery prices are going to go up because of this war. And of course, the price of gas is already way up because of Donald Trump's war.
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Buttigieg: Usually you're trying to fight those kinds of price effects that consumers are facing, not doing what the Trump administration is doing, which is actively causing them. Vladimir Putin launched a war. The result was that there were supply shocks and oil went up, and then we all did everything that we could in the administration, and all of us as Americans, did what we could to deal with that. Here you have a very different situation. The president launched a war of choice, and now we're all dealing with the consequences and the people who are paying the heaviest price, of course, are the service members, many of whom have given their lives, over 200 have reportedly been injured. But also every American is paying the price. Mortgage rates are going up because of this war. Grocery prices are going to go up because of this war. And of course, the price of gas is already way up because of Donald Trump's war.

Acyn

81,616 просмотров • 5 месяцев назад

#Exclusive || Impact of War on Economy One, you have a supply shock. Supply has gone down. So, either you voluntarily cut down demand and let supply and demand adjust themselves without much of a price rise, or, if demand is not adjusted, prices will go up and do the needful: Dr. Ashok Kumar Lahiri #NewsToday | Rajdeep Sardesai
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#Exclusive || Impact of War on Economy One, you have a supply shock. Supply has gone down. So, either you voluntarily cut down demand and let supply and demand adjust themselves without much of a price rise, or, if demand is not adjusted, prices will go up and do the needful: Dr. Ashok Kumar Lahiri #NewsToday | Rajdeep Sardesai

IndiaToday

17,254 просмотров • 3 месяцев назад

"This scent chills down my spine. I had real deja vu of 99 again because this whole thing's crumbling. All of the demand that trickles down to the trillions of dollars of CapEx and infrastructure is now basically down to demand being created by two players Anthropic and OpenAI but Meta have basically said: "oh we overestimated the front-end demand we could create so we're going to lease out our infrastructure" They're basically getting out early of these capex wars."
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"This scent chills down my spine. I had real deja vu of 99 again because this whole thing's crumbling. All of the demand that trickles down to the trillions of dollars of CapEx and infrastructure is now basically down to demand being created by two players Anthropic and OpenAI but Meta have basically said: "oh we overestimated the front-end demand we could create so we're going to lease out our infrastructure" They're basically getting out early of these capex wars."

Prof G Markets

36,814 просмотров • 1 месяц назад

Soybean farmer: What we need is a strong demand for soybeans and to get some trade going instead of scaring it away with tariffs. We need competition because the American farmer is great at producing healthy crops for a reasonable price. When we have a level playing field, we're going to win
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Soybean farmer: What we need is a strong demand for soybeans and to get some trade going instead of scaring it away with tariffs. We need competition because the American farmer is great at producing healthy crops for a reasonable price. When we have a level playing field, we're going to win

FactPost

164,703 просмотров • 10 месяцев назад

Catherine Austin Fitts: "In gold, the demand for physical reflects a demand for a core position...Silver is...different... because you have so much growing industrial demand... and they have to take physical delivery...But... people are [realizing] inflation is not going away." This clip of Fitts, a former Assistant Secretary of Housing and Urban Development, investment banker, and founder of the Solari Report (The Solari Report | Catherine Austin Fitts), is taken from a discussion with Miles Franklin (Miles Franklin Precious Metals) posted to YouTube on January 26, 2026. ----------------Partial transcription of clip--------------- "In gold, the demand for physical reflects a demand for core position. Okay. And not just by individuals, but by institutions and businesses. Silver is a very different story because you have so much growing industrial demand for silver and they have to take physical delivery. You can't use silver paper to, to build a data center. So part of it is the industrial demand, including national security issues. "But then also if you're going to monetize gold being driven by the people wanting more and more core position, silver ultimately is going to be monetized too. It'll lag, but it's coming in. They want physical. And if you look at the leverage in this, the paper to silver leverage is much greater than gold. "So for two years, you probably don't know this, I'm asked about gold and I just say I'm buying silver. And people keep saying, why are you buying silver? And it's on sale. I'm buying silver because it's on sale. And so the other day I kept saying to our team, I said, I think the sale's over. "But we knew at some point that that leverage was between paper and, whatever. Anyway, so let me keep going. The investment position, the miners have clearly lagged, so they're catching up. But then finally people are beginning to realize, you know, inflation is not going away. "There are many reasons why it could get worse and they need to protect themselves. And so they're going to the trouble of educating themselves. It's a big, for somebody who's never done precious metals, it's a big education. And so, you know, so people are saying, okay, inflation's not going away. I'm going to take the time to do the education. And so I think that's a major factor in the investment part of it anyway. So it's, you know, it's complicated, but if you look at all the factors, we are clearly in the, I would call it the end of the first phase of a long-term bull market in gold and silver. "Now, there are many things that could drive the price way down. You know, a pandemic or a war is very deflationary, as you know, and can drive the price way down. But I think, you know, I think the bull market has quite a ways to run."
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Catherine Austin Fitts: "In gold, the demand for physical reflects a demand for a core position...Silver is...different... because you have so much growing industrial demand... and they have to take physical delivery...But... people are [realizing] inflation is not going away." This clip of Fitts, a former Assistant Secretary of Housing and Urban Development, investment banker, and founder of the Solari Report (The Solari Report | Catherine Austin Fitts), is taken from a discussion with Miles Franklin (Miles Franklin Precious Metals) posted to YouTube on January 26, 2026. ----------------Partial transcription of clip--------------- "In gold, the demand for physical reflects a demand for core position. Okay. And not just by individuals, but by institutions and businesses. Silver is a very different story because you have so much growing industrial demand for silver and they have to take physical delivery. You can't use silver paper to, to build a data center. So part of it is the industrial demand, including national security issues. "But then also if you're going to monetize gold being driven by the people wanting more and more core position, silver ultimately is going to be monetized too. It'll lag, but it's coming in. They want physical. And if you look at the leverage in this, the paper to silver leverage is much greater than gold. "So for two years, you probably don't know this, I'm asked about gold and I just say I'm buying silver. And people keep saying, why are you buying silver? And it's on sale. I'm buying silver because it's on sale. And so the other day I kept saying to our team, I said, I think the sale's over. "But we knew at some point that that leverage was between paper and, whatever. Anyway, so let me keep going. The investment position, the miners have clearly lagged, so they're catching up. But then finally people are beginning to realize, you know, inflation is not going away. "There are many reasons why it could get worse and they need to protect themselves. And so they're going to the trouble of educating themselves. It's a big, for somebody who's never done precious metals, it's a big education. And so, you know, so people are saying, okay, inflation's not going away. I'm going to take the time to do the education. And so I think that's a major factor in the investment part of it anyway. So it's, you know, it's complicated, but if you look at all the factors, we are clearly in the, I would call it the end of the first phase of a long-term bull market in gold and silver. "Now, there are many things that could drive the price way down. You know, a pandemic or a war is very deflationary, as you know, and can drive the price way down. But I think, you know, I think the bull market has quite a ways to run."

Sense Receptor

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In M&S today The lady there at the till told me the meat range had gone up in price £1.50 this WEEK £1.50 in a week Demand and supply people Demand and supply The 2030 agenda says we must reduce meat and dairy consumption Increasingly looking like that's just for the U.K.
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In M&S today The lady there at the till told me the meat range had gone up in price £1.50 this WEEK £1.50 in a week Demand and supply people Demand and supply The 2030 agenda says we must reduce meat and dairy consumption Increasingly looking like that's just for the U.K.

@ChatsWithEm

60,562 просмотров • 1 год назад

Catherine Austin Fitts on the consequences of $200/barrel oil, if it happens: "we can't drop commercial inventories anymore... [so] oil could go as high as $200" "we're talking about, potentially, a major, major shutdown and layoffs" "I call this Covid 2.0" "if I'm a farmer, it's not just the price [of oil], or the price I have to spend running my tractor, it's the price that goes into my fertilizer and other ingredients" This clip of Fitts, an investment banker, former Assistant Secretary of HUD, and founder of the Solari Report (The Solari Report | Catherine Austin Fitts), is taken from an interview with Greg Hunter (Greg Hunter) posted to Rumble on June 6, 2026. ---------------Partial transcription of clip---------------- "Here's the thing. If you look at the current energy prices, we've all been protected because two things are happening. The— Many of the countries that have sovereign strategic reserves, like the United States, have been running down the reserves. "And we are running down the reserves, you know, down to where they were during the Biden administration because of COVID 1.0. I call this Covid 2.0. "But the other thing is that the commercial inventories have been falling and we are approaching probably by mid-June, the level where you can't drop them anymore because you have a certain, you know, you have a certain supply that has to protect and keep the pipeline and other energy infrastructure going... "I was asked this last week to do an interview talking about what AI and automation were doing to employment. And what I said is, don't worry about AI and automation. If you look at what's happening in the energy market, if we really do hit that wall and we can't drop commercial inventories anymore and the strategic reserves won't drop anymore, oil could go as high as $200. "Because now people all around the world are going to have to compete for oil. And the only way that the price, is going to resolve supply and demand is you're going to shut down a whole bunch of capacity. That's why I call it Covid 2.0. You know, we're talking about potentially major, major shutdown and layoffs "We have energy independence, we don't have price independence. So, you know, it's one thing and it's not just price of oil. So if I'm a farmer, it's not just the price, or the price I have to spend running my tractor, it's the price that goes into my fertilizer and other ingredients. "So if we just had another story in Money and Markets about a rice farmer in Asia, who didn't plant because it was going to cost $33,000 to plant her small rice farm and she was going to make $22,000, you know, because your, your costs go up, but that doesn't mean your revenues go up too, right? "So, you know, we're taught we're talking about something that can ripple through the economy. Now, if you look at what happened yesterday, I haven't read the language, but Congress, the House, voted that the president couldn't continue the Iran war without a war resolution. "Four Republicans voted with the Democrats, and that's how it happened. And I think part of it is they can see this wall coming and they know what it means."
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Catherine Austin Fitts on the consequences of $200/barrel oil, if it happens: "we can't drop commercial inventories anymore... [so] oil could go as high as $200" "we're talking about, potentially, a major, major shutdown and layoffs" "I call this Covid 2.0" "if I'm a farmer, it's not just the price [of oil], or the price I have to spend running my tractor, it's the price that goes into my fertilizer and other ingredients" This clip of Fitts, an investment banker, former Assistant Secretary of HUD, and founder of the Solari Report (The Solari Report | Catherine Austin Fitts), is taken from an interview with Greg Hunter (Greg Hunter) posted to Rumble on June 6, 2026. ---------------Partial transcription of clip---------------- "Here's the thing. If you look at the current energy prices, we've all been protected because two things are happening. The— Many of the countries that have sovereign strategic reserves, like the United States, have been running down the reserves. "And we are running down the reserves, you know, down to where they were during the Biden administration because of COVID 1.0. I call this Covid 2.0. "But the other thing is that the commercial inventories have been falling and we are approaching probably by mid-June, the level where you can't drop them anymore because you have a certain, you know, you have a certain supply that has to protect and keep the pipeline and other energy infrastructure going... "I was asked this last week to do an interview talking about what AI and automation were doing to employment. And what I said is, don't worry about AI and automation. If you look at what's happening in the energy market, if we really do hit that wall and we can't drop commercial inventories anymore and the strategic reserves won't drop anymore, oil could go as high as $200. "Because now people all around the world are going to have to compete for oil. And the only way that the price, is going to resolve supply and demand is you're going to shut down a whole bunch of capacity. That's why I call it Covid 2.0. You know, we're talking about potentially major, major shutdown and layoffs "We have energy independence, we don't have price independence. So, you know, it's one thing and it's not just price of oil. So if I'm a farmer, it's not just the price, or the price I have to spend running my tractor, it's the price that goes into my fertilizer and other ingredients. "So if we just had another story in Money and Markets about a rice farmer in Asia, who didn't plant because it was going to cost $33,000 to plant her small rice farm and she was going to make $22,000, you know, because your, your costs go up, but that doesn't mean your revenues go up too, right? "So, you know, we're taught we're talking about something that can ripple through the economy. Now, if you look at what happened yesterday, I haven't read the language, but Congress, the House, voted that the president couldn't continue the Iran war without a war resolution. "Four Republicans voted with the Democrats, and that's how it happened. And I think part of it is they can see this wall coming and they know what it means."

Sense Receptor

16,452 просмотров • 2 месяцев назад

Jensen on the famous story about Larry Ellison and Elon Musk begging him for GPUs over dinner: "That never happened. We absolutely had dinner, and it was a wonderful dinner. At no time did they beg for GPUs. They just had to place an order." Jensen says Nvidia's allocation system is simple: you forecast, you place a purchase order, you get in the queue. First in, first out. And if your data center isn't ready, they might serve someone else first to maximize throughput. That's it. Nvidia doesn’t do highest-bidder pricing: "You set your price, and then people decide to buy it or not. I understand that others in the chip industry change their prices when demand is higher, but we just don't. That's just never been a practice of ours." "I prefer to be dependable, to be the foundation of the industry. You don't need to second-guess. If I quoted you a price, we quoted you a price. And if demand goes through the roof, so be it."
1:24

Jensen on the famous story about Larry Ellison and Elon Musk begging him for GPUs over dinner: "That never happened. We absolutely had dinner, and it was a wonderful dinner. At no time did they beg for GPUs. They just had to place an order." Jensen says Nvidia's allocation system is simple: you forecast, you place a purchase order, you get in the queue. First in, first out. And if your data center isn't ready, they might serve someone else first to maximize throughput. That's it. Nvidia doesn’t do highest-bidder pricing: "You set your price, and then people decide to buy it or not. I understand that others in the chip industry change their prices when demand is higher, but we just don't. That's just never been a practice of ours." "I prefer to be dependable, to be the foundation of the industry. You don't need to second-guess. If I quoted you a price, we quoted you a price. And if demand goes through the roof, so be it."

Dwarkesh Patel

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Visit for a special bundle deal at a fraction of the retail price- risk-free for 365 days. Act now. Supply is tight, and demand is soaring!
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Visit for a special bundle deal at a fraction of the retail price- risk-free for 365 days. Act now. Supply is tight, and demand is soaring!

John Solomon

13,027 просмотров • 9 дней назад

Visit for a special bundle deal at a fraction of the retail price- risk-free for 365 days. Act now. Supply is tight, and demand is soaring!
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Visit for a special bundle deal at a fraction of the retail price- risk-free for 365 days. Act now. Supply is tight, and demand is soaring!

John Solomon

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BANNON: We're at war and we have young men and women in harm's way. We're in it. I'm not happy that we're in it, but you're in it, so you've got to figure out how you have victory because victory is what matters here. It would be catastrophic for us to not have victory in this. I think that's just a hard reality of what we have to deal with.
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BANNON: We're at war and we have young men and women in harm's way. We're in it. I'm not happy that we're in it, but you're in it, so you've got to figure out how you have victory because victory is what matters here. It would be catastrophic for us to not have victory in this. I think that's just a hard reality of what we have to deal with.

Bannon’s WarRoom

140,419 просмотров • 5 месяцев назад

The demand for silver is quickly outpacing our supply. When there is a product that is structurally short on supply and demand remains, the price will go up. This is Economics 101. It's a massive problem for industries, but it’s great for silver owners because the value is poised to climb. I analyzed this data with Flyover Conservatives last week.
1:29

The demand for silver is quickly outpacing our supply. When there is a product that is structurally short on supply and demand remains, the price will go up. This is Economics 101. It's a massive problem for industries, but it’s great for silver owners because the value is poised to climb. I analyzed this data with Flyover Conservatives last week.

KEPM

15,134 просмотров • 7 месяцев назад

David Friedberg: “ What if we could make all residential electricity free in the United States?” “We consume, in this country, about 4 trillion kilowatt hours of electricity.” “1/3 of that, $250B, is residential consumption.” “2/3 of that, $500B, is industrial and commercial consumption.” “Theoretically, you could increase the price on industrial and commercial consumption by ~50% and make all residential electricity in the United States free.” “And then on the commercial and industrial side, the reason you would then have an incentive to build private power systems would be that you can bring your costs down.” “And instead of centralizing all of this with the utilities, what it can do is it can force a market demand for industrial and commercial users to build their own power systems, which would increase overall electricity supply in the United States.” “The data centers are the tip of the iceberg, but if you make this a pan industrial problem, then all of the industrial companies would have to take this path.”
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David Friedberg: “ What if we could make all residential electricity free in the United States?” “We consume, in this country, about 4 trillion kilowatt hours of electricity.” “1/3 of that, $250B, is residential consumption.” “2/3 of that, $500B, is industrial and commercial consumption.” “Theoretically, you could increase the price on industrial and commercial consumption by ~50% and make all residential electricity in the United States free.” “And then on the commercial and industrial side, the reason you would then have an incentive to build private power systems would be that you can bring your costs down.” “And instead of centralizing all of this with the utilities, what it can do is it can force a market demand for industrial and commercial users to build their own power systems, which would increase overall electricity supply in the United States.” “The data centers are the tip of the iceberg, but if you make this a pan industrial problem, then all of the industrial companies would have to take this path.”

The All-In Podcast

219,832 просмотров • 7 месяцев назад

Every conversation I have with Dylan Patel, I'm really just trying to understand the supply and demand of tokens. This is a unique episode in that it's entirely dedicated to talking about both sides of that equation. We discuss: - The infinite demand for the newest models - SemiAnalysis going from $10K on AI spend to $7M - Mythos and Anthropic's compute problem - Why TSMC spending $100B on CapEx could cause a shortage - Robotics as next demand wave - Why memory prices will double again This is my second conversation with Dylan and find myself needing to speak with him more and more often to make sense of it all. Enjoy! Timestamps: 0:00 Intro 1:00 Surging AI Spend 10:27 Token Demand 16:21 When Ideas Are Cheap and Execution is Easy 20:46 Model Hoarding 22:34 Robotics 27:03 The Compute Bottleneck 30:26 The AI Permanent Underclass 31:39 Supply Chain Reality 37:47 CPUs 42:54 Predictions: Public Backlash
45:33

Every conversation I have with Dylan Patel, I'm really just trying to understand the supply and demand of tokens. This is a unique episode in that it's entirely dedicated to talking about both sides of that equation. We discuss: - The infinite demand for the newest models - SemiAnalysis going from $10K on AI spend to $7M - Mythos and Anthropic's compute problem - Why TSMC spending $100B on CapEx could cause a shortage - Robotics as next demand wave - Why memory prices will double again This is my second conversation with Dylan and find myself needing to speak with him more and more often to make sense of it all. Enjoy! Timestamps: 0:00 Intro 1:00 Surging AI Spend 10:27 Token Demand 16:21 When Ideas Are Cheap and Execution is Easy 20:46 Model Hoarding 22:34 Robotics 27:03 The Compute Bottleneck 30:26 The AI Permanent Underclass 31:39 Supply Chain Reality 37:47 CPUs 42:54 Predictions: Public Backlash

Patrick OShaughnessy

893,210 просмотров • 4 месяцев назад

Benedict Evans says AI means more software, not less: "There's going to be a bunch of stuff you could do with software that you just couldn't do before at all. And so there will be more competition." "If you think about the enterprise software fleet today, you've got three buckets... big iron horizontal systems, so SAP and Workday and your CRM... vertical software... and then in the middle, this fuzzy improvised space of Excel and email and the shared file system." "Now you add ChatGPT to that. Do you do that in an LLM? Is there an LLM tool that means you can do that in Salesforce where you couldn't do it before, or you can do it in your vertical app that you couldn't do before?" "All of which is a long way of saying, what does this do to software? And it must be more software. Way more software." Benedict Evans with Erik Torenberg
1:36

Benedict Evans says AI means more software, not less: "There's going to be a bunch of stuff you could do with software that you just couldn't do before at all. And so there will be more competition." "If you think about the enterprise software fleet today, you've got three buckets... big iron horizontal systems, so SAP and Workday and your CRM... vertical software... and then in the middle, this fuzzy improvised space of Excel and email and the shared file system." "Now you add ChatGPT to that. Do you do that in an LLM? Is there an LLM tool that means you can do that in Salesforce where you couldn't do it before, or you can do it in your vertical app that you couldn't do before?" "All of which is a long way of saying, what does this do to software? And it must be more software. Way more software." Benedict Evans with Erik Torenberg

a16z

36,975 просмотров • 2 месяцев назад