{"id":10230,"date":"2026-10-10T17:05:51","date_gmt":"2026-10-10T17:05:51","guid":{"rendered":"https:\/\/basedcapitalwealth.com\/?post_type=newsletter&p=10230"},"modified":"2026-10-10T17:08:44","modified_gmt":"2026-10-10T17:08:44","slug":"the-joys-of-the-ai-trade","status":"publish","type":"newsletter","link":"https:\/\/basedcapitalwealth.com\/index.php\/newsletter\/the-joys-of-the-ai-trade\/","title":{"rendered":"The Joys of the AI Trade"},"content":{"rendered":"

Life used to be simpler, cleaner. It wasn’t long ago when all investors needed to worry about was the macro and if and when a new plague was about to lay waste to the global economy. We’d spy on the girth of Greenspan’s briefcase for clues of looming FOMC policy and break apart iPhone’s with hammers to see what chips were inside of them, attempting to ride the wave of technological innovation. After all, investors have always loved tech — the advancements of it improving the lifestyles of humans — offering us wanton entertainment and venues for profit. <\/p>

Until now. <\/p>

Nowadays the media and much of the blue collared cadre of people despise AI to the point where they actively assist short sellers in placing bullshit news in order to hurt the trade. They talk up China as if it were an unassailable moat perched atop a citadel, operating their AI on shoestring budgets and without power! How can we possibly compete with the Chinese? IMPOSSIBLE.<\/p>

Did I mention the debt? Oh boy, we are taking out so much debt for AI the poor zebras inside the Federal Govt cannot issue their bonds anymore. No one wants them — because they’d prefer to own META paper instead.<\/p>

Did I mention how once AI is sentient it will immediately construct a robot army to kill all humans? Yes, this is what we’ve been told, perhaps more of an attestation of how we think about ourselves, rather than what some fucking AI (or SI rather) powered robots tends to feeeeeeeel about us. <\/p>

Did I mention how AI is going to render all jobs to be obsolete, leaving a lower caste of recent graduates on the preverbal bread line ind\u0113f\u012bn\u012btus?<\/p>

Here’s FT on Thursday claiming OpenAI was on pace to only report $50b in annual sales, down from the expected $70b, a mere 40% shortfall.<\/p>

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Once this news hit, bolstered severely by the catamites on X and CNBC — stocks swooned lower — forked in the head by AI shares tumbling a cool 7%.<\/p>

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Then it turned out the entire ordeal was one big misunderstanding. <\/p>

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There is near zero chance anybody on the finance team at OAI said $70 B was \u201cnet revenue.\u201d This is shit reporting & CYA by @FT<\/a>. I didn\u2019t correct it bc it was so obviously end of year not current run rate. Pretty common knowledge had FT bothered to ask around. \ud83e\uddd0<\/p>— Brad Gerstner (@altcap) October 10, 2026<\/a><\/blockquote>