A little context to this @ftenergy claim that ship masters are being paid $100,000 month. 1️⃣The minimum wage for mariners is currently $690/month. Tanker masters are making about $12k/month. 2️⃣The $50k bonus is to sign up for a 3 to 4 month tour on a tanker that is doing shuttle service between the Persian Gulf and the Gulf of Oman 3️⃣The "danger pay" is only paid while the ships are making the Hormuz transit or if the ship comes under attack. It is unlikely that ship owners are paying 4x to 6x to sit in the Persian Gulf or Gulf of Oman, and most assuredly when the ship has departed. 4️⃣The "mercenary" term is derogatory. Instead, the mariners should be considered veterans for willing to take these chances with minimum defenses. 5️⃣ @business ran a story about a Filipino master making about $100k for a three month tour on a tanker, but not each month. This is not saying it is impossible, but it is on the very high end and probably unlikely. It should be noted that shipping companies will Nickle and Dime mariners for every expense and do not think for a minute that they are ravishing their mariners with new found wealth because of their profits. The biggest expense on ships are fuel and crew and they will do everything possible to minimize each to maximize profit.

Had a great time discussing the #tankers# and #shipping# markets with @JackFarley96. Check out the video for the latest takes (and laugh at my horrendous office backdrop after the twins wrecked it).

Ben Pouladian @benitoz: 30,000 people applied for fiber-technician jobs at Meta's $META data center in rural Louisiana. 30 got in. Talking to Jack Farley @JackFarley96 on The Monetary Matters Network, Pouladian points to Meta's Hyperion data center in Richland Parish as the counter-story to the political backlash hitting data centers elsewhere: local teachers are getting $50,000-a-year bonuses off the economic impact. He sets it against SemiAnalysis's forecast of 43 gigawatts of new US power capacity next year versus Brad Gerstner @altcap's more conservative 25-gigawatt base case, the gap towns are now blocking with reversed approvals. The local jobs story is real. It's also an exact count of how selective those jobs are: 30 hired out of 30,000 applicants. Every chip supplier betting on power arriving on schedule is exposed to the same politics that produced that ratio. Podcast Alpha covers the power-and-politics bottleneck sitting under every AI chip thesis. Source: The Monetary Matters Network -

First byline for Fortune ! I dug into the Goldman succession race and COO John Waldron As one source put it: “His DNA is just that of a more Midwestern, English major. I mean if you told me that he was an English lit professor at Oberlin College, I'd say, ‘Okay, I can believe that.’”

Joined @JackFarley96 on Monetary Matters to talk about Anthropic's $8bn in 2025 losses/$400bn+ in non-cancellable commitments, the skyrocketing cost of AI debt, Oracle's distressed debt, and why the more GPUs they buy, the more expensive everything gets.

AMD is my pick for the most overhyped chip stock. The AI trade needs receipts: shipped racks, competitive token costs and real power. I made the case with @JackFarley96 on Monetary Matters. $AMD $NVDA

Caught this live on @jackfarley96's Monetary Matters yesterday. Jack asked which names in the AI science basket had real explosive upside. I said Twist: go on their site, program a cell, programmable biology. Anthropic partnership already rerating it. Claude in the loop. They just opened a wet lab in SF. This is not Claude code anymore. We're doing physical sciences. $TWST ripping today on the Google news. Still early.

Thank you @maxwiethe for having me on the Other People’s Money podcast and for the engaging conversation. We discussed the liquidity gap in private credit, what’s next for BDCs and closed-end funds, and why more firms are moving towards permanent capital.  #PrivateCredit# #BDC# #PermanentCapital#

“The holding companies of these insurance companies that also own the alternative asset management firms, Apollo, KKR - you’re saying that if the insurance entity dissolved & went bankrupt, even though they don’t go bankrupt, that KKR, Apollo, or the parent company would have no obligation to make things whole?" “They have zero obligation to make things whole. And you can see that in Athene investor presentations.” $APO $KKR

so many things that could "kill the AI trade" ROI slowing down, models stopping getting better, open source cause pricing collapse, China, and many others. 10 year at 5% or even 6% is not one. Of course yield spike could cause semi stocks to nosedive but in terms of ACTUALLY STOPPING THE INVESTMENT? That is driven by forces exogenous to yields being at 2-8% yes not mentioning the name of the PE guy that motivated this tweet^... being a gentleman about it for the moment and also yes if 10-year goes to 10% or "triple digits" (ridiculous thing to say) then yes sure that could crimp investment of course I could be wrong... just my views