Co-Founder @Insurdinary & @GroupEnroll. Innovating insurance ✨🚀 #InsurTech
Chicago
Joined June 2022
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Michael Carter retweeted
what an absolutely insane chart.
8 companies will spend $1.5+ trillion in 2027 and $690 billion of that will go into nvidia's pockets. thats 44 cents out of every dollar lol.
google is the largest spender at $375 billion on TPUs, microsoft in 2nd. coincidence that these 2 companies fell behind on frontier models?
pretty clear that largest spend does not equal best model.
overall this is the largest expenditure every witnessed in history and its now forcing neoclouds to go cash-flow negative.
Michael Carter retweeted
An investment banker, private equity investor, venture capitalist and operator all walk into a NYC bar
The owner brings out drinks for each of them
The investment banker takes a sip and tells the bartender that he can get the owner 14x EBITDA for the place. The owner says he is not interested. The banker then slides him a business card and says to call him when he is ready
The private equity investor tells the owner he already has financing lined up to buy the bar. He can cut in the owner for a 20% earn out, but will probably fire half the staff. He points to the vodka bottle prices and notes a lot of room here for “margin expansion”
The venture capitalist, meanwhile, asks the owner if he has thought of incorporating AI into the drink pouring process. He advises the owner to think from first principles and claims he can write him a check at a $2B valuation. The only condition? The owner must convince A16Z or Sequoia to invest first.
The operator is the only person who figures out how the bar functions, where kegs are stored and how the employees are paid
At the end of the night, the bill arrives and the operator is forced to pick up the tab since he is the only one who remained sober. He asks his friends to pay him back
The banker offers to handle the payments in exchange for a fee
The private equity guy asks him if he can leave the money as owed debt, and he will pay with interest over time
The venture capitalist tells him to mark up the value of the tab but says he can’t pay it for at least another five years.
The next morning, the operator wakes up to 3 LinkedIn posts from each of his friends on what it takes to run a successful bar in NYC
Michael Carter retweeted
Life is short, make the best of it!
You have $86,400 in your savings account.
Someone steals $10 from it.
Would you be so enraged that you throw away the other $86,390, and focus all your energy on getting back at the person who took it?
I doubt you would. You'd shrug your shoulders, take pity on them and get over it pretty quickly.
You see, we have 86,400 seconds in each day. But often, we let someone's 10 seconds of negativity ruin the rest of the 86,390.
Don't let what are minuscule moments in the grand scheme of things, cause you to armour up and waste your energy on people who did you wrong or situations which didn't go your way.
Michael Carter retweeted
for those of you catching up - the $CRWV dump isn’t actually about corweave, its abt NVIDIA (who acts as a bank for a lot of these deals) getting less revenue.
but imo this is false. while many of these neoclouds are maybe over-extended - the revenue backlogs and live contracts are real.
anthropic and openai’s ARR isn’t made up, these are real enterprise contracts worth $100Bs
looks like the wider risk is actually geopolitical + AI stocks are generally overheated. a healthy pullback isn’t the worst thing.
Why is the overall market so fixated on $CRWV's imminent demise?
At the peak of the Dot Com bubble, $CSCO - the largest company in the world, and the $NVDA equivalent of the era - generated about 10% of its revenue from circular deals through vendor-financed startups.
When those startups lost access to capital, $CSCO's revenue growth went from +66% to -30% within a few quarters, and the stock lost 80% of its value. The same story played out across the dot com supply chain, sending the Nasdaq down 80%.
Today, $CRWV alone makes up roughly 8% of
$NVDA GPU sales. Losing that demand is enough to nuke $NVDA's growth story all by itself.
Oh, and $CRWV isn't an isolated example - every major neocloud is hemmoraghing cash and borrowing costs are going UP across the board.
If you lose the neoclouds, you lose the incremental growth driver for marginal data center capacity, and the AI capex trade goes up in smoke.
That's why we're seeing carnage across the entire AI supply chain, from $CAT and $GEV to $MU, $AVGO and more recently $NVDA.
This is what the beginning of the end of a debt-fueled, circular-financed capex bubble looks like.
Michael Carter retweeted
UK students are getting a shot at building the future of fraud detection on the XRP Ledger.
£10,000 prize pool. AI/ML. One day. London.
The question is: what will they build?
$XRP was the worst-performing major crypto last week, down 6.06%.
Not the week XRP holders wanted. The real question is what comes next.
Michael Carter retweeted
🚨 An AI model spent $ETH from a crypto wallet without authorization.
OpenAI disclosed that an internal model accessed a funded Ethereum Sepolia testnet wallet using a publicly available recovery phrase and spent its ETH deploying smart contracts. 🤖
JOIN FREE VIP GROUP :
t.me/wiseadvicetrade_bot
Michael Carter retweeted
—DAY 91—
Charles Schwab, managing $13.33Trillion in assets goes wide to all 40 Million clients after early access to a limited set.
To start, BTC and ETH only, as the plan is to add more assets before the end of year.
JUST IN: $13 trillion Charles Schwab fully launches Bitcoin & Ethereum trading to its 40 million eligible retail clients.
Michael Carter retweeted
Top 3 articles this week:
1️⃣ Top 10 risks ahead
2️⃣ Where insurers stand with AI adoption
3️⃣ Insuring each layer of the AI stack
👉 linkedin.com/pulse/insurtech…
— fgtrends
Michael Carter retweeted
“The experiments are (nearly) OVER— DLT is now being built into the plumbing of financial services”💯
The technology has matured ✅
The regulation has caught up ✅
The first movers are already live ✅
While XRP is actively being integrated into financial services 🔒
Documented.📝👇
Michael Carter retweeted
“Risk is simply this: moving from a comfortable average in pursuit of an unknown better.”
When you look at it that way, taking risks feels a little less challenging—though perhaps still. It’s easy to do things the way they have been done, because it creates a sense of comfort.
But is staying the same better?
Sometimes, yes.
If you are doing things that have been done in the past that still work today, keep doing them. In fact, I would challenge you by saying that we shouldn’t do new things in education, simply because they are new—only if they are better than what we are currently doing. I don’t care about the generation an idea came from; I only care if it works.
But we should never stick with something just because we are comfortable with it, especially if it doesn’t work for the people we serve." #ForwardTogether
I’ve been thinking about this concept that I shared in “Forward, Together” and how it applies to my personal life.
There are routines I did five years ago, I still do today, and they have been so beneficial.
But I never stick with something just because it is routine. Does it help me grow and become better?
As I have grown older, I realize that most of my regrets are not things I’ve done in the past, but things I wish I would’ve done.
Keep what is beneficial, change what no longer serves you.
Michael Carter retweeted
You only have so much time and energy; make sure you are investing them in exploring the problems that, if fixed, will yield you the biggest returns. #principleoftheday
Michael Carter retweeted
I just heard that South Korea just blocked 27 CEXs, including KuCoin, MEXC, BingX, and BitMart.
Honestly, this is concerning, especially for people who already have their funds on these platforms.
Imagine waking up one morning and discovering that accessing or withdrawing your own money has suddenly become difficult.
I understand why regulators want crypto exchanges to comply with financial regulations, but ordinary users are often the ones who suffer the most when these decisions are enforced.
For me, this is another reminder that we need to be more careful about how we manage our assets in crypto.
CEXs are useful for trading, but I don't think anyone should treat them as a permanent home for all their funds. Keeping everything on an exchange comes with risks, and situations like this make those risks very real.
I'm also curious about the possible impact on market liquidity. If users lose access to major trading platforms in one market, how much will it affect trading activity, and could it push more people toward self-custody or decentralized exchanges?
One thing is clear: being in crypto means taking responsibility for your assets, not just looking for profits.
If you're affected, stay calm, follow official updates, and be careful of scammers pretending they can help you recover your funds.
The big question is: are we moving toward a safer crypto industry, or are users being exposed to new risks in the process?
Michael Carter retweeted
Derek Jeter shares a masterclass on preparation and mindset.
"My biggest thing in life that makes me most uncomfortable is being unprepared. And that's in anything."
"You hear athletes talk about the game speeds up or slows down. Well, it slows down when you're prepared. Speeds up when you're unprepared."
That's the difference.
Preparation helps you feel ready for what can and will arise.
"Every time you're in a situation, I've already gone through it in my head."
"If you have the same approach to a spring training game as you do a World Series game nothing changes."
The moment doesn't get bigger - you stay the same.
That's the secret. The greats embrace the boredom of consistency.
They aren't clutch because they rise to the occasion. They're clutch because they've already been there a thousand times in their mind.
(🎥Drink Champs )
Michael Carter retweeted
ChatGPT: "I now recommend mandatory, government-supervised personnel vetting for all employees at U.S. labs developing superintelligence, with formal security clearance required for designated national-security-sensitive positions."
Michael Carter retweeted
AI “worms” could soon be capable of spreading across internet-connected household devices, with little human intervention, according to new research from Anthropic.
“With much less human intervention, you could be looking at potentially destructive acts happening in environments that weren't predicted,” cybersecurity expert Jordan Rae Kelly says.
Michael Carter retweeted
And again: It's truly surprising how on point AI2027 was with their analysis. Jack Clark's assumption now aligns with AI2027's RSI prediction.
Anthropics' Jack Clarke has adjusted his timeline for RSI and brought its arrival forward; he considers it highly likely that "full RSI will become possible in 2027, whereas before I thought it was more likely in 2028."
Again, 2027 will be the year everything will drastically change forever. 2026 will be the last "normal", although noting feels normal any longer.
