The ASML Moment: Why America Must Own Its Entire Chip Ecosystem
The Netscape Moment, Thirty-One Years Later
In 1995, the Netscape IPO turned a conviction held by a small number of evangelists into a consensus held by an entire civilization. The SpaceX IPO will do the same thing for the next chapter of human civilization.
When the Talent Decides It Is Bigger Than the Company
Scott Pelley came to view himself as standing above the company. When a star decides he is the institution, management has only two choices. Capitulate and lose the company, or act and absorb the noise. Bari Weiss acted.
The Billion Dollar Bet Every American Should Make
The SpaceX IPO is oversubscribed. The institutional money already knows what it is buying. The question is whether the rest of America does. This is not just an investment argument. It is a civic one.
$250 Million for Third Place
Tom Steyer spent a fortune to come in third. The lesson isn't about money. It's about message. Running against someone who isn't on the ballot is not a vision. It's a grievance with a marketing budget.
The AI Oligarchy Is Already Here
Anthropic is spending $1.25 billion per month on compute just to stay in the game. Five hyperscalers will spend $690 billion on AI infrastructure this year. The companies that own the physical layer will control AI. Everyone else will rent access.
Meta Is Charging for AI Agents. Nobody Is Watching Them.
Meta launched its Business Agent globally today. Large businesses pay by the token. The monetization story is clean. The accountability story is not.
Two IPOs, Two Futures: Why SpaceX and Anthropic Are Not the Same Bet
One IPO buys a software company fighting for position against Google, OpenAI, Meta, and Microsoft. The other buys the infrastructure of civilization's next chapter. They are not the same bet.
Iran's Sequencing Trap: Why the 60-Day Nuclear Clock Is a Fraud
Iran wants the money, the ceasefire, and the naval blockade lifted before nuclear talks begin. That's not a peace deal. That's a head start.
Let the People In
A viral video accuses Elon Musk of rigging the stock market because index providers changed their rules to let SpaceX in faster. I want to make the opposite case. These changes are the most democratizing thing to happen to retail investors in a generation.
The MOU Leak Is Iran's Opening Move, Not a Peace Signal
Iran published the MOU terms before the deal was signed. That's not transparency. That's a trap.