Luis Moreira retweeted
I’m convinced AI is going to change the world.
It will cure diseases that seem incurable today, accelerate diagnoses and drug discovery, personalize education, multiply productivity, automate millions of tasks, improve work-life balance, help us code, research and design, optimize factories and supply chains, and increase the profits of many companies.
What I’m not so sure about is which AI will capture the biggest share of that value.
OpenAI? Anthropic? Gemini? Llama? Qwen?
Probably several will coexist, and leadership will keep changing.
What I have far fewer doubts about is the infrastructure they will all run on.
A huge share of those tokens will ultimately flow through the infrastructure of Microsoft, Amazon, Google, Meta and Alibaba.
LLMs can change.
The need for infrastructure won’t.
And that’s why I’m increasingly certain about where I want to be invested during this revolution.
$MSFT $AMZN $GOOGL $META $BABA
Luis Moreira retweeted
They made a 13 min short movie on Argentina's failed robbery attempt vs Spain
😭😭😭😭😭😭 xitter.cf/Pessi14Yrs/status/2079…
Luis Moreira retweeted
The man who INVENTED modern AI just made a billion dollar bet that ChatGPT, Claude, and every AI company on earth is building the wrong technology.
Yann LeCun won the Turing Award in 2018 for creating the neural networks that made AI possible.
He spent a decade running AI research at Meta. Oversaw the creation of Llama and PyTorch, the tools that half the AI industry runs on.
Then he quit.
And raised $1.03 billion in a seed round.
The LARGEST seed round in European history. $3.5 billion valuation before generating a single dollar of revenue.
Bezos wrote the check. So did Nvidia. Samsung. Toyota. Temasek. Eric Schmidt. Mark Cuban. Tim Berners-Lee (the guy who invented the internet).
His new company is called AMI Labs. And it's built on one thesis:
Every AI company spending billions on large language models is wasting their money.
ChatGPT, Claude, Gemini, Grok. They all work the same way. They predict the next word in a sequence. See "the cat sat on the" and predict "mat." Scale that to trillions of words and you get something that sounds intelligent.
But LeCun says it doesn't UNDERSTAND anything.
It can't reason. It can't plan. It can't predict what happens when you push a glass off a table. A two year old can do that. GPT-5 cannot.
That's why AI hallucinates. It doesn't have a model of how the world actually works. It just predicts words.
His solution? Something called JEPA.
Instead of predicting words, it learns how the PHYSICAL WORLD works. Abstract representations of reality. Not language but physics.
Think about what that means.
Current AI can write your emails. LeCun's AI could design a car, run a factory, operate a robot, or diagnose a patient without hallucinating and killing someone.
The CEO of AMI said it perfectly: "Factories, hospitals, and robots need AI that grasps reality. Predicting tokens doesn't cut it."
And here's what's really crazy to me...
LeCun isn't some outsider throwing rocks. He literally built the foundations that ChatGPT runs on. He knows exactly how these systems work because he helped create them.
And after watching the entire industry sprint in one direction for three years, he raised a billion dollars to run the OPPOSITE way.
No product. No revenue. No timeline. Just pure research. He told investors it could take YEARS to produce anything commercial.
But they funded it anyway in just four months.
Meanwhile OpenAI just raised $120 billion and still can't stop their models from making things up. Anthropic is building AI so dangerous they're afraid to release it. Google is burning billions trying to catch up.
And the guy who started it all says they're all solving the wrong problem.
Two Turing Award winners raised $2 billion in three weeks betting AGAINST the entire LLM approach. LeCun at AMI. Fei-Fei Li at World Labs.
The smartest people in AI are quietly building the exit from the technology everyone else is betting their future on.
Either they're wrong and the trillion dollar LLM industry keeps printing.
Or they're right and every AI company on earth just built on a foundation that's about to crack.
Luis Moreira retweeted
🚨WHAT META JUST DROPPED IS MORE DANGEROUS THAN ANYTHING OPENAI HAS EVER BUILT!!!!!
while everyone was losing their mind over Claude Mythos.. Meta dropped something that nobody noticed..
they built an AI called TRIBE v2.. it's basically a digital copy of your brain..
you show it a video, a sound, a sentence.. and it already knows how your brain is going to react.. 70,000 different parts of your brain.. blood flow, oxygen, everything..
they trained it on 1,000 hours of brain scans from 700 real people lying inside MRI machines..
it doesn't read your thoughts.. it does something worse..
it knows what's going to make you feel something before you even feel it..
think about that for a second..
if an AI already knows which image, which sound, which word is going to hit your dopamine.. you don't need to read someone's mind.. you just build the perfect trap..
and meta didn't even keep it locked up.. they open-sourced it.. gave the code, the weights, everything to the entire world..
this is the same company that got caught making instagram destroy teenage girls.. the same company whose own research said their algorithm pushes rage because rage keeps you scrolling..
that company now has a working copy of how your brain responds to everything you see and hear..
they don't have to guess what keeps you glued to the screen anymore.. they can rehearse it on a copy of your brain before you ever see it..
the product was never the app..
the product was always you..
now they have the blueprint.
Today we're introducing TRIBE v2 (Trimodal Brain Encoder), a foundation model trained to predict how the human brain responds to almost any sight or sound.
Building on our Algonauts 2025 award-winning architecture, TRIBE v2 draws on 500+ hours of fMRI recordings from 700+ people to create a digital twin of neural activity and enable zero-shot predictions for new subjects, languages, and tasks.
Try the demo and learn more here: go.meta.me/tribe2
Luis Moreira retweeted
These two photographs are separated by only 66 years.
ALT Top (17 December 1903) – The Wright brothers’ first successful flight of the Wright Flyer at Kitty Hawk, North Carolina. Bottom (20 July 1969) – Astronaut Buzz Aldrin standing beside the U.S. flag on the lunar surface during an Apollo 11 EVA.
Luis Moreira retweeted
this right here is the reason China stays quiet on Iran
everyone losing their mind asking where is Beijing while the US & Israel are bombing a major chinese energy partner and the answer is so brutal in its simplicity that most analysts miss it completely, the empire is eating itself alive and China is already building the replacementt
America just dragged the entire Middle East into a war for Israel & now Saudi arabia, UAE, kuwait & qatar are sitting in a room discussing pulling out of US contracts & canceling investment commitments
the Gulf states, the literal foundation of the petrodollar, the system that has kept the US dollar as world reserve currency since 1974 actively discussing the exit and Beijing did absolutely nothing to make that happen…Washington did it to itself
but here's what people miss: china saw this coming years ago and already laid the tracks, literally the belt & road Initiative has quietly wired 150 countries into c’hinese infrastructure, ports, railways, highways, fiber optic cables, power grids…while the western media barely covered it
Saudi Arabia started selling oil to China in yuan in 2023, that alone should have been front page news for a month, the BRICS just expanded to include Saudi arabia UAE and Iran in the samea bloc, China built CIPS as a direct alternative to SWIFT so the entire non western world can settle trade without ever touching the dollar, every single one of these moves was made before a single bomb fell on Iran
and then there's Africa…the youngest continent on earth, median age 19, projected to reach 2.5 billion people by 2050, the largest workforce the planet has ever seen & China understood 20y ago that whoever builds Africa's infrastructure owns the 21st century, while the US was spending 4 trillion dollars destroying Iraq & Afghanistan China was building railways in Kenya, dams in Ethiopia, ports in Djibouti, highways in Nigeria, tech hubs in Rwanda, stadiums, hospitals, government buildings, telecom networks powered by Huawei across the entire continent.. & they did it without firing a single bullet, no regime change, no sanctions, no lectures on democracy, just concrete steel, fiber optic and longterm contracts
so when people ask why China stays silent on Iran the answer is that silence is the strategy, every war America fights for Israel costs trillions, destabilizes energy markets, alienates Gulf partners and pushes the entire Global South closer to a system Beijing spent two decades building
the gulf states pivoting right now has zero to do with ideology, Washington turned their entire neighborhood into a warzone to serve Tel Aviv's regional strategy & then asked them to keep buying treasury bonds with a straight face….the math just stopped working and when the math stops working loyalty stops too
beijing's silencee on Iran is the most patient & most devastating move on the board, China is watching america dismantle its own hegemony in real time while quietly inheriting every alliance washington burns, it just has to keep building & keep quiet
Napoleon said nver interrupt your enemy when he is making a mistake, Xi turned that into a 50y doctrine & right now it's paying off faster than even beijing expected
Luis Moreira retweeted
Call me out in a few years when all my software investments go to zero:
AI (incl. “vibe coding”) commoditizes code, not systems of record. CSU owns mission‑critical systems of record in niche markets. Those moats are data, workflows, integrations & switching costs – not the difficulty of writing code.
Think about what CSU actually buys: 20‑year‑old billing, practice management, municipal, utility, hospital, etc. systems that are completely entangled with how that vertical runs. Replacing them is a multi‑year capex + career‑risking project. AI doesn’t change that risk calculus.
Vibe coding makes it cheap to stand up “an app”. It does not:
• migrate 15 years of messy production data
• recreate hundreds of integrations (banks, tax authorities, devices)
• rebuild reports auditors & regulators already trust
• retrain an entire workforce on new workflows
Most CSU businesses sit at a control point in the value chain. They are the authoritative ledger for money, people, or regulated data. That’s qualitatively different from a point solution that sends emails or draws dashboards on top of someone else’s data.
AI is great at “systems of action”: generating content, orchestrating tasks, moving data between APIs. Those are the tools that get nuked – thin SaaS wrappers around Gmail, Stripe, HubSpot, QuickBooks, etc. They have shallow data gravity and low switching costs.
But systems of record (ERP/CRM/core VMS) encode:
• strict data models & referential integrity
• audit trails, permissions, compliance
• deterministic workflows that boards, auditors, and regulators understand.
You don’t vibe‑code your general ledger or your clinical records.
We’ve seen a similar wave already: low‑code/no‑code. For a decade you could drag‑and‑drop your own business app. Did enterprises kill SAP, Oracle, or niche ERPs? No – they use low‑code at the edges while keeping standardized core systems. AI just turns that dial further.
The “every company will build their own ERP with AI agents” story underestimates non‑coding costs: product mgmt, domain expertise, change mgmt, security, incident response, integration maintenance. Most CSU end‑markets don’t even have the teams to run that experiment.
On margins: AI is more likely to be margin‑accretive for CSU‑type vendors. It:
• boosts dev productivity (faster features/integrations with same R&D)
• automates support, onboarding, documentation
• improves internal ops (billing, collections, forecasting)
Can buyers use AI to squeeze prices? Some, at the margin. But in most CSU verticals, software is 1–2% of revenue and mission‑critical. The binding constraint is risk, not license cost. As long as the app works and is maintained, there isn’t much appetite to rock the boat.
Meanwhile vendors can repackage AI as upsell: copilots, agents, forecasting, process mining. Core ERP/CRM pricing stays per‑seat/per‑site; AI is a new line item or higher tier. That’s ARPU expansion, not commoditization. The code got cheaper – the outcome got more valuable.
Where AI really hurts is exactly what you flagged: point solutions. Single‑feature SaaS that:
• sits at the UI layer
• talks to a few APIs
• has no proprietary data model or workflow depth.
Those become prompts: “Hey model, do what this $30/month SaaS was doing.”
Net effect:
• Point solutions & generic horizontal tools: heavy pressure.
• Core vertical systems of record: AI is an add‑on + cost reducer, not a replacement.
• CSU’s skill set (buying sticky, boring, regulated, low‑IT‑budget software) is aligned with where AI is least disruptive.
Could AI still reshuffle winners within verticals? Sure. Incumbents that ignore AI may lose to incumbents that embrace it. Some CSU properties will under‑invest and stagnate. But that’s competition at the margin, not “vibe coding obsoletes the whole business model.”
So why doesn’t AI commoditize CSU? Because their moat isn’t lines of code. It’s being the entrenched, audited, regulator‑blessed system that runs payroll, billing, tax, and operations for thousands of tiny niches. AI will sit on top of that stack long before it replaces it.
Oh and I haven't even started talking about the complexity of running a software company and building a team.
$CSU.TO $ACP.WA $SGN.WA $TOI.V $LMN.V
$CSU bulls: explain to me why AI doesn’t eventually commoditize your favorite compounder.
Luis Moreira retweeted
EU makes more from fines on US tech, than tax from ALL of public European tech
in 2024 EU fined US tech companies €3.8B meanwhile public internet tech companies paid only €3.2B in income tax
Luis Moreira retweeted
Esto ocurrió en Suecia.
Un profesor de economía contó que nunca había suspendido a un solo alumno en un examen, pero que una vez suspendió a toda una clase.
Esta clase insistía en que el socialismo funcionaba: nadie debería ser pobre y nadie debería ser rico; todos deberían ser iguales.
El profesor dijo:
«De acuerdo, hagamos un experimento sobre el socialismo con este grupo. Todas las notas se sumarán y se dividirán entre el número de alumnos. De esa forma, nadie suspenderá y nadie obtendrá la nota más alta».
Tras el primer examen, se contabilizaron los resultados y la media fue de un 2 (equivalente aproximadamente a un «bien» en el sistema alemán). Los que habían estudiado con diligencia se sintieron decepcionados, mientras que los que habían estudiado poco estaban encantados.
Antes del segundo examen, los alumnos más flojos se esforzaron aún menos, y los aplicados decidieron que también querían beneficiarse del «sistema», por lo que ellos también estudiaron menos. El resultado fue una media de «suficiente». En el tercer examen, la nota media fue finalmente «insatisfactoria» y, para sorpresa de todos, todos suspendieron.
El profesor explicó:
«No hay un ejemplo más sencillo. El socialismo fracasa inevitablemente: cuando la mitad de la población se da cuenta de que no tiene que trabajar porque la otra mitad la mantiene, y cuando la mitad que trabaja comprende que ya no tiene sentido esforzarse porque otros cosechan los frutos de su trabajo, entonces es el fin de toda nación».
Autor: Thorsten Wunde
#DaleCasco
Luis Moreira retweeted
🔴 Pedro Sánchez es el hombre al que encuentras en la cama con tu pareja y te dice que no seas machista, que la culpa es de la ultraderecha, que lo que estás viendo es desinformación y un bulo, que seas más solidario y le traigas una cerveza
PSICÓPATA
Luis Moreira retweeted
As I wrote before, Microsoft has long been concerned that building its own data centers to meet OpenAI’s and other clients projected compute demand would pose a massive financial risk—especially since it doesn’t fully trust Sam Altman’s forecasts and tends to take a more conservative approach.
As a result, Microsoft made a business decision to de-risk overbuilding and over-purchasing GPUs. Satya has already admitted that they have GPUs sitting idle, collecting dust — and that worries Jensen. This is where Jensen, with his usual creativity in financing, stepped in to help these “neoclouds” survive, get funded, and act as intermediaries between Microsoft and NVIDIA.
Microsoft is fine with NVIDIA’s arrangement to rent compute from CoreWeave, Nebius, Lambda ans Nscale. They get favorable lease terms with the flexibility to terminate virtually anytime — no strings attached and almost no capital risk.
This way, Microsoft doesn’t have to worry much about overbuilding or GPU depreciation. They simply lease compute capacity from these supposedly independent SPVs and can walk away once demand starts to weaken — leaving the SPVs and their debt holders holding the bag, stuck with all the GPUs, data centers, and debt-financed hardware.
For NVIDIA, this isn’t a problem. They can easily write off their investments in these SPVs — and the market will likely forgive them.
The Special Forces of Demand: How Nvidia Manufactures Demand Through Neoclouds
Let me present to you the Special Forces for Demand of Nvidia - the Neoclouds.
Jensen, a veteran of the dot-com era, knew exactly what he had to take care of and control in order to maintain Nvidia’s position for as long as possible. You need to diversify your base of clients, keep your competitors from gaining any stake in the game, and above all, control the demand if you want to keep the “Beat and Raise” cycle going as long as possible. Once you control the demand, you control the numbers, who gets what, and how much they get.
To achieve all of this, beyond becoming one of the top venture capitalists with investments in over 120 AI companies and startups, Nvidia made sure to create, push, and promote the “Neoclouds” in the AI industry. Since the end of 2022, Nvidia has led investment rounds, participated as an investor, and provided GPUs for cloud credits or equity stakes in today’s leading Neoclouds. Jensen made sure to promote these Neoclouds among investors as the “next hyperscaler” that you wouldn’t want to miss.
By creating a sense of FOMO, Jensen ensured that the Neoclouds received all the funds they needed including Nvidia’s own, to buy more GPUs, secure demand and dominate the GPU-leasing industry.
Looking to rent AMD GPUs from any of the leading neoclouds? Coincidentally, none of them offer those. Oh, I’m sorry, there’s only one that offers some AMD GPUs, Crusoe, with a deal Jensen didn’t like.
These Neoclouds, along with the hyperscalers, dominate the GPU-leasing market. Nvidia, both as an investor and as a GPU supplier, made sure to control the demand. And if there is any concern about demand, don’t worry. Nvidia will make sure to cover it (e.g. CoreWeave) or rent for its own use (e.g. Lambda). And if you don’t have a client yet, Nvidia will make sure to find one for you (e.g. Microsoft for Nscale).
Demand must exist. Chips must sell. The "Beat and Raise" machine must continue. If that requires providing cash, leading IPOs, buying stakes in vendors, or funding investment rounds, whether ten billion or one hundred billion dollars, it will happen. When genuine demand is not enough, it is manufactured. Barter transactions, equity-for-revenue swaps, and cloud credits for GPUs become the tools.
Whatever it takes to keep the manufactured demand engine running, Nvidia will make sure it does with its Special Forces for Demand, the Neoclouds.
Luis Moreira retweeted
Pedro Sánchez, el pasado mes de marzo:
“Apoyamos a la universidad pública con la misma convicción con que queremos combatir el avance de centros privados que priman el negocio sobre la calidad”
Ahora matrícula a su hija en una universidad de élite en Madrid.🤦🏻♂️
🔴 #EXCLUSIVA | Sánchez matricula a su hija en una universidad privada de élite de las que llama "chiringuitos"
Informa @paco_cobosg
libertaddigital.com/espana/2…
