whatstheofficerproblem

Thank you @thowed!

. I'm at the pay range where I don't really need roommates. Another problem here is that if you do find an apt that you want to share, it's usually those readymade walls creating the other room. Even if it isn't, still only slightly cheaper than getting a studio yourself. Might as well pay that 5-10% more for privacy and answering to none.

Will do.

. You lead with cheese, you'll only attract rats.

"You know what's loser mentality? Whining about homelessness, just go buy a home" - Says the man who has a mansion. Bad analogy, but you folks lucked out being born in a different era. As much as I disdain the manosphere clowns, some facts are not refutable. No offense LC, but answers like these are why the youngins fall for those retard manosphere exploiters. You really think most folks my age haven't tried that? . My generation is literally living in that rat utopia experiment. This is also who the "looksmaxxing" crowd have gained such popularity as of late. There are no 1BRs under $5k unfortunately. Studios costing closer to $4k now.. I can afford that, affordability is not my problem. Not being able to light a cigarette in my own balcony is.

I think my age, ethnicity and country of origin are already well known to the members of CoBF. It has indeed been helpful with folks reaching out to me on immigration workflows etc. Since you've given me the free pass to rant about NYC.. Fuck NYC. Four grand a month is a mortgage on a house with a yard in most of the country, a yard where nobody would say a word about you smoking, grilling, or doing whatever you want. In NYC it gets you 400 square feet and a rulebook. Imagine paying $4k/mo + amenities and not being able to smoke on the terrace. I don't smoke indoors as that's something only imbeciles do, but on your own private terrace? Something very wrong with the real estate market. Greg, I thought you were born and raised here 🫨. Learn something new everyday. Punani not getting in any man's way in today's hypergamous, hybristophilic world.

Haha, ty @John Hjorth. I think a lot of NYC's shortcomings are as much related to the sheer population density as is the politics. Haven't seen a city so packed since I left India.

I am a data science major. I have already been working for a subscale hedge fund out of college, been a year now. Moving to bigger firm now. No family here, moved to this country on my own when I was 19.

Alright. Moving to NYC end of the month. Anyone have apartment recommendations in FiDi? Would prefer something with a private outdoor, doesn't matter if its small.

Fund is up ~80% as of 2Q26. Going to put out my 2Q26 letter soon.

I really have no attachment to LA. Beautiful beach and girls, but that's pretty much it. It seems like the place where young investors go if they want their passion for investing to die. The caliber of talent I've met in the brief two days I was in NYC.. Man, it re-invigorated my passion for investing. I felt boy-ish wonder that left me after I was 14, felt like I was in college again.

Everything you said rings true now that I made a cursory visit there. Thank you!

And so the time has come. You guys made very good points about leaving NY & staying there. But what about someone who's about the move there? Any suggestions? I've been lucky in life and my paycheck should give me the ability to afford cigarettes here ($20/pack!). I miss Iowa sometimes.

My point was that this sounded familiar.. AI parallel. To your point, yes it was indeed happening. AWS went from growing 40% YoY to 20% and then 16 and it's lowest ever at 12% in the span of a year in 2023. Same thing in that timeframe with Azure from 50% to 30% and MSFT's CFO even warned on the earnings call that further slowdown is coming and remember the stock tanking on that. GCP went from 45% to 32% also, slowest ever since they started reporting that segment. What happened according to Jassy's words was that FinOps became a thing and since people were spending too much on cloud, they started optimizing within cloud very aggressively. Sell-side notes, and I recall Barclays or Goldman reporting that over 80% CIOs planned on moving workloads off cloud to see how it goes while IDC found ~80% expecting to repatriate some compute or storage within a year. Then, magic happened. AI came in, total market grew, server lives expanded increasing margins by couple hundred basis points. None of the points identified in the article are wrong. This paradox they mention simply moved a layer up. Why pay NVDA or frontier labs money, when AWS/GCP/Azure give you access to the orchestration layer? That's going to be the thinking going forward imo.

Excellent point. Should also note the inference/API costs which the AI bulls say are coming down 1000x are not really calculated costs. It's cost to reach a benchmark. These benchmarks have been public for a long time now and it's very easy to train future models or existing models to optimize for the bench. Like the folks on Shitter say, "benchmaxxing". So inference/token costs coming down is an illusion.

https://a16z.com/the-cost-of-cloud-a-trillion-dollar-paradox/ LOL.

That's our nickname for Rich Privorotsky, the analyst who put out the note. .

No jokes on me. I was simply putting fwd what I discussed at work and my colleague put this fwd. He did say it was from Privo, I didn't see Privo and posted that part here.

Looks like the bolded part IS from Privo. We have this debate every other day at work and keep throwing points out to one up each other, if it turns out to be productive then I combine all of it and post here. He did send. Didn't read the Privo part. That's what I was thinking, when did my stupid colleague become so smart. I have been tinkering with GLM in the office, so natural conclusion was that this guy saw what it's capable of and had a Eureka. LOL.

Holy shit. When was this out?

this is news to me. Can you share the excerpt?

I highly suggest trying GLM 5.2 - pretty much on par with Opus, some argue it's better even. Atlas Knowledge's stock has 15x'd YTD. The question is how far that rubber band can stretch... If frontier intelligence can increasingly be developed in the East at a fraction of the cost incurred in the West ( GLM-5.2, was trained entirely on 100,000 Ascend 910B processors with zero Nvidia silicon), then the largest capital allocators are also the ones most exposed to over-investment risk. The breaking point was always likely to be when one of the major spenders concludes that shareholder returns are better served by spending slightly less. The problem is that “slightly less” is not embedded in anyone’s assumptions. The entire AI complex is priced for ever rising capex as inference demand grows. This set up is becoming increasingly precarious. The louder this message gets the more momo bottleneck bros inch toward the exit which creates neg momentum in its own right. Now we might be inclined to say who cares about GLM because it's distilled from Claude & GPT, but distillation is/was/ and always will be only one part of the equation. It's at best a bootstrapping method, the training, harness and weights over that existing distillation is still differentiated and great. If distillation is all that is required to make a model on par with the frontier labs, I don't think GLM would be the only option. But thus far, it's the only one that has come close. Then there's the seemingly endless debate on open-source being good for hyperscalers. First, the premise is inconvertible: Jevons on volume, i.e. free ish weights collapse the price of intelligence + current elasticity = massively expanded token consumption. And in parallel, margins migrate somewhat away from frontier labs as "good-enough" OS eats the middle of the task distribution (albeit pricing will be pareto distributed anyway so wouldn't overstate this margin point). The labs currently act like demand aggregators, and this proliferates outward, ok, no debate thus far. Second, OS weights can be served by anyone: neoclouds, sovereigns, on-prem, and maybe (probably not) the edge. So not just Hyperscalers. OS explodes TAM for everyone not just the Hyperscalers. So, for me, the shape of compute demand changes from prepaid capex commitments (from two behemoths primarily) to fragmented opex amidst a price war. So, from the Hyperscalers perspective what's changed assuming OS demand make wholes (and then some) frontier lab demand? Well, the demand risk now moves onto their balance sheet. Earlier it was the VCs carrying (via financing the frontier labs) that demand risk. Now, that demand risk shifts onto hyperscaler b/sheet. Third, a question that's less clear to me: in an OS/OW inference dominated world, doesn't the cheapest integrated stack (Google) win? Doesn't the margin migrate from frontier labs to the Hyperscalers with lowest servicing cost to compete? So the OS = Hyperscaler bull case is really a cost leadership bet again. Thoughts?

Only 'Church' a 'pagan' like me enjoys.

Haven't looked at Harrow. I am not a biotech specialist in that I don't have a PhD or depth on broader topics. Casting a wider net here when it's not your core competence and looking at more than the typical 3-4 names would imo work against you. The nature of this sector is that it's very hit or miss. You'd be risking 50% to gain 10% or even lose 10% more even on good data. You need to be a masochist to enjoy biotech and that is simply not my thing. Will likely start looking around when LQDA/INBX play out.

I have told myself this a lot of times over the last few years, didn't end well. I think I'm not alone in that boat, which is why a lot of folks have an aversion to SW now.