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Slower revenue growth doesn’t mean slower AI adoption. The past few weeks we've seen charts showing slower revenue growth at Anthropic and OpenAI. But as this Bank of America chart shows, token usage - especially at Anthropic - keeps hitting new highs.

Jamie Dimon on Bitcoin: 2017: “It’s a fraud” 2021: “I personally think Bitcoin is worthless” 2023: “If I was the government, I’d close it down” 2024: “I call it the pet rock” 2026: His own bank forecasts it to beat US stocks, bonds and gold over the next decade.

Ray Dalio, founder of Bridgewater Associates, is concerned about a coming debt crisis. He's putting his money where his mouth is.

Is there an inverse relationship between an AI model's revenue growth and talk of its existential risk?

With so much economic anxiety in the air, it's good to remember there are still good things happening. Low child mortality is one of the top indicators of socioeconomic progress, and the global average is down 85% in the past 75 years.

The post-pandemic financial boom has not been an equal one. Wages have been chewed up by high inflation, and rising asset values benefited those who can buy them. A reminder of why investing is so vital for beating inflation and building wealth in the long run. Credit: WSJ

Markets are betting that Meta's Muse AI agents will be able to find us a better deal

It's amazing what difference a year makes

As expected the RBA raised rates 25 basis points to 4.6%. This is the 4th rate rise this year and takes rates to the highest level in 15 years. These 4 hikes have added about $390 a month to a $600k mortgage.

Wild - China's lead in robotics keeps growing

Australian politicians lead that world in using AI to write their speeches. From the Economist - more than 20% of speeches in Australia's House of Reps were written using AI. I wonder if Albo used AI to write about OpenAI's Medicare hack? Link: economist.com/britain/2026/0…

Microsoft is the only hyperscaler not borrowing to build data centres. In fact, its debt is actually shrinking. In its Q3 10-Q the total face value of debt dropped from $49.2bn to $46.2bn. This will be an interesting dynamic as the data centre build out continues.

The US has more data centre capacity (planned or in operation) than the next 14 countries combined. China may build infrastructure faster, but the US has a massive head start and has a much larger pipeline.

Australia's GDP per capita by state. Mining states dominate with WA roughly 50% above the national average. But here's the catch: GDP per capita measures what a state produces, not what its residents earn. NT is second on this list but near last on household disposable income.

Ally grabbed coffee with NorthStar Impact's Claudia Kwan to learn about the small-cap critical minerals, commodities and electrification companies emerging as big AI winners on the ASX. equitymates.com/friday-fundi…

Australian property prices keep sliding. Sydney may have fallen furthest, but Brisbane, Adelaide and Perth are following similar trajectories.

Technology is deflationary. The cost of lighting has dropped more than 16,000x since the early 14th century. A reminder that over the long term, technology often brings prices down. Sometimes to the point where we can’t even imagine a world without it.

In the US and UK, fewer and fewer people are drinking. The same holds true in Australia. A November 2025 survey by ANZ found 47% of Australians had cut back or quit drinking entirely over the past year.