money - EJ Says

A colorful vector illustration of a person feeling overwhelmed while facing a complex geometric labyrinth, symbolizing the challenges and confusion of navigating software installation.

English

Xiaomi Smart Band 10 Pro: A Product That Expects the Unreasonably Persistent

I accidentally made the China-market model work in the United States. This says more about my habits than Xiaomi’s design.

English

The Snake That Ate Itself

The market saw a 5 percent bruise. Apple saw a chance to move the price list. The AI companies wrote the alibi. The memory suppliers stamped it. Cook collected it in retail, with the expression of a man who had no better choice.

A silhouette of a person reaching up toward a cascade of gold coins falling from above, against a deep blue background.

money

The Option Musk Never Had to Ask For

These pieces were drafted before June 12. The IPO happened. Cursor closed at $60 billion. The analysis below did not need updating. That's the problem.

artificial intelligence

SpaceX IPO (SPCX): You're Already In

If you hold QQQ, you might end up owning SPCX. You do not get a vote. Here is what to do about it. What Every Retail Investor Needs to Know Before June 12, 2026

artificial intelligence

SpaceX IPO Valuation: Am I Missing Something?

From $18.7 billion to $3.4 trillion in 15 years. That is 41.3% CAGR. For fifteen consecutive years. No company in history has done it. Maybe Alexander the Great, if he remembered to incorporate. I must be missing something. Maybe you can tell me

A room filled with a herd of elephants of all sizes, rendered in soft blue sketch style, with warm light coming through the window.

artificial intelligence

The Room Is Smaller and Busier Than It Looks

The queue is becoming rather crowded with companies that have, by conventional measures, better financials and much simpler structures. Yes, you hear me all right. I am saying OpenAI's structure is simpler.

A man walks alongside a bull through a haze of golden dust. Neither knows what is on the other side.

artificial intelligence

SpaceX's S1 Is Out

SpaceX's S-1 is public. The valuation is high. The audit is gone. The disclosure window just got longer. The party has begun. Read the footnotes.

A weathered merchant sits against a stone wall, holding a spear in one hand with an ornate shield beside him, looking into the distance with a conflicted expression.

artificial intelligence

You Write Like a Machine. That's Good.

I spent ten minutes fixing the logic of an article. The AI score jumped from 31% to 67%. Churchill failed the same test. Welcome to the Failurors Club.

An ornate illuminated book open with golden particles rising from its pages against a dark background.

artificial intelligence

Open CloseAI

OpenAI is this company that always puzzles me. The more we know about it, the more puzzling it would become. I am not rooting against it. I am just doing the math.

Three monkeys crowded around a red typewriter, papers flying everywhere, looking bored and chaotic — an illustration of the infinite monkey theorem.

artificial intelligence

The Bitter Lesson Was Right. Then the Sun Got Involved.

The bitter lesson was most true in 2019. It is slightly less true today. And it will be less true still in the future. Not because scaling stopped working. But because the assumptions underneath it are quietly falling apart

A medieval castle with a completely dried and cracked moat, leaving exposed mud and fissures where water once surrounded the fortress.

artificial intelligence

Google's Grand Moat Is Drying Up. Nobody Is Attacking It.

I spent two years arguing Google has the grandest moat in the AI era. Then I launched a small site, submitted 51 URLs, and watched 18 of them disappear in silence. No error. No explanation. Just absence. This is a case study in what a drying moat looks like up close.

A man in a suit walks alone as resumes and documents scatter into the air around him, illustrating mass white-collar job displacement.

artificial intelligence

The UBI Math Doesn't Work. The Math Was Always There. Now It's Arriving.

In 2018, I wrote two articles nobody wanted to think about. Eight years later, Elon Musk and OpenAI are proposing solutions. That should worry us more than it reassures us.