Prof G Markets
Prof G Media & Vox Media
10 episodes
Tom Lee: The Correction Is Over — Stocks Are About To Surge
- Tom Lee says the correction is over, predicting a 15% Nasdaq 100 rally and an S&P 500 of 8,200 to 8,400.
- Apple reports record $115bn revenue in first earnings under CEO John Ternus, but iPhone Duo screens are cracking.
4 Nov · 37 min
Anthropic's Q3 Results Are In — The Costs Are Exploding
- Anthropic's compute and data center commitments total $895bn, with nearly $70bn due within twelve months, exceeding its annualized revenue.
- Anthropic's Q3 revenue hits $17bn, a 12-fold year-over-year jump, but quarter-over-quarter growth slows to 47% from 144%.
3 Nov · 38 min
The Stock Market Is Already Pricing In A Democratic Sweep
- Kalshi puts 82% odds on a blue wave, and Ed Elson expects a Democratic sweep hinging on Maine, Texas and Michigan.
- Alphabet loses $500bn in market value on weak search and ad revenue, its worst ever.
2 Nov · 1 h 18 min
The American Startup Taking On China’s AI Models
- Reflection's new open-weight model beats Western rivals, and it closed a June round at $25bn pre-money backed by Sequoia, Citigroup and Nvidia.
- CEO Misha Laskin calls Chinese open models a gift and says banning them would hurt US innovation.
1 Nov · 59 min
The Democrats Will Sweep The Midterms — Here’s Why
- Ed Elson predicts Democrats will sweep next week's midterms, arguing the swing reflects Donald Trump's unpopularity rather than Democratic strength.
- Elson argues Trump's tariffs and Iran war alone created today's inflation crisis, with gas up 40 percent and inflation outpacing wages for six straight months.
31 Oct · 12 min
Josh Brown: If This Is A Bubble, It’s Pathetic
- Anthropic's S-1 shows revenue up about 1300% in the first half, from $1.2bn to $16.3bn, and Josh Brown says the SEC filing makes those figures credible.
- Ed Elson sees the $800bn in compute purchase agreements, including over $160bn with Broadcom, as the central risk, while Josh Brown calls the $80.7bn loss an accounting artefact.
30 Oct · 1 h 18 min
Microsoft Rises, Google Tanks: Why Investors Are Polarized On Big Tech
- Microsoft beat expectations with revenue up 19% and Azure growth accelerating to 48%, while Gil Luria says it remains free cash flow positive unlike Amazon, Google and Meta.
- Google's search business, which held over 90% of the search market, slowed abruptly this quarter as users shift to ChatGPT and Gemini, and Google's free cash flow turned negative $9.1bn as capex topped $51bn.
29 Oct · 36 min
Why Steve Eisman Isn't Buying Anthropic's IPO
- Steve Eisman says Anthropic's future capital commitments total roughly $800bn to $900bn, yet they appear only in a footnote rather than the income statement.
- Eisman says the S-1 omits third-quarter figures and shows revenue-to-compute ratio falling to 1.7 times as token maxing ended and sequential growth slowed from 147% to 45%.
28 Oct · 36 min
The $800 Billion Catch Behind Anthropic's IPO
- Anthropic's S-1 shows $16.3bn in first-half revenue, up from $1.2bn, but a $72bn noncash charge drives an $80 billion-plus loss.
- Ed Elson argues Anthropic has over $800bn in compute commitments absent from its income statement, and Paul Kedrosky says these non-cancelable obligations resemble discounted leases.
27 Oct · 37 min
This EU Firm Made Billions Buying Up Forgotten Tech
- Bending Spoons, the Milan-based serial acquirer, went public on the Nasdaq at a valuation above $18bn, growing from a roughly $40,000 seed left after a failed Copenhagen AI diary startup.
- Ferrari insists Bending Spoons is not simply a private equity firm, arguing it never sells, buys to hold forever, and rebuilds acquired companies rather than making superficial changes.
4 Oct · 1 h 4 min