ST retweeted
“Companies have $40-60 billion market caps and they're paying 16-18% for their debt, one of those things is wrong.”
I wonder which one history would say is wrong...
I wonder which one history would say is wrong...
Apollo’s CEO Mark Rowan: “Companies have $40-60 billion market caps and they're paying 16-18% for their debt, one of those things is wrong.”
“I think we have yet to focus on it in energy but we have certainly seen it in chips and ai and data. There's only two sources of debt anks or investors.”
“Most of what we're building is long dated and complex. What you see is businesses like ours who were at sub $40 billion AUM pre-2008 and now were at $1.1 trillion. I'd like to attribute it to good management, but let's face it, a trend is dragging us in that direction.”
“It is not possible for banks and public credit to do the job with financing, private credit must step in.”
“In the credit business, you are not paid to be concentrated because you only get your interest and your principal. If someone wants you to be concentrated they need to give you more return and more safety. More return is not enough because you can never make up for losses in credit, the scale of capital demand is starting to put pressure on firms with chip financing and AI.”
“Companies have $40-60 billion market caps and they're paying 16-18% for their debt, one of those things is wrong.”
“You’re starting to see even the largest companies start to crowd out other markets, even the government. We're going to see that in energy as well.”
1
1
13
4,551
ST retweeted
Advertising might be one of the only industries where you can still come in with a completely unrelated degree from a whatever-tier school and still do really well for yourself in the long run imho.
i’m going to say something brave.
talent pipelines should die. not every career needs a feeder school, feeder job, etc. people should be able to try things, learn on the job, and change direction as they grow.
we’ve optimized the serendipity out of professional life.
12
12
198
8,573
new?
New casino-like apps promise to reward users simply for playing games or even watching TikTok. Is getting paid to scroll a symptom of the economy or its entire future? nymag.com/intelligencer/…
0
0
4
976
ST retweeted
Reading the latest pieces by @scottew and @vigstar1 made me think we should pay more attention to the network token approach that @Visa and others are pursuing, alongside virtual cards. Not to discount virtual cards at all, but network tokens feel like an equally critical piece of the puzzle.
When an intermediary becomes the MoR and replaces the user’s chosen card with its own virtual card, rewards and purchase protections can change, while refunds and payment failures can become harder to resolve. Both pieces are well worth reading.
Wouldn’t network tokenization be a more practical way to preserve the user’s chosen card and existing issuer relationship? Combined with agent authentication and consumer recognition through TAP (Trusted Agent Protocol), it could offer a much more compelling approach to interoperability across agents, merchants, and existing payment infrastructure than substituting the user’s card.
If you’re curious about how network token payments work, take a look at this Visa-authored technical draft:
paymentauth.org/draft-card-cha…
When an intermediary becomes the MoR and replaces the user’s chosen card with its own virtual card, rewards and purchase protections can change, while refunds and payment failures can become harder to resolve. Both pieces are well worth reading.
Wouldn’t network tokenization be a more practical way to preserve the user’s chosen card and existing issuer relationship? Combined with agent authentication and consumer recognition through TAP (Trusted Agent Protocol), it could offer a much more compelling approach to interoperability across agents, merchants, and existing payment infrastructure than substituting the user’s card.
If you’re curious about how network token payments work, take a look at this Visa-authored technical draft:
paymentauth.org/draft-card-cha…
4
4
6
761
not convinced structure is the problem; we just don't know how to retrofit ai into our existing work culture. heck, we've barely figured out how to do remote.
i’m not convinced that “context” is the real bottleneck here.
for lots of orgs, all the meetings are captured in granola. all async comms are in slack. all docs are in notion. I’ve even seen teams check their agent logs into shared repos.
all of these have ample MCPs and CLIs that all agents can access. the context is there, everything is legible, and yet—
the problem is that it is stored, retrieved, and acted on non-deterministically. it’s unstructured and out of date and there’s way too much of it. it’s an unreliable mess. the agents (and humans) can only do so much with that, and the result isn’t at all what people imagine when they design agentic systems, because nobody can trust it.
4
1
17
1,773
ST retweeted
wildcard for the markets is is Anthropic chickens out and pulls IPO because of ‘market conditions’ especially one they helped create. I think markets would hate that.
they need to take one for team and accept whatever haircut the public markets give them
they need to take one for team and accept whatever haircut the public markets give them
16
8
111
23,363
people keep asking how things like agentic payments are going to work.
my sibling in christ, capital always finds a way.
my sibling in christ, capital always finds a way.
4
0
32
2,180
fascinatng.
.@Mastercard ceo on yesterday's q3 call, about one-time virtual cards for ai agents: "a bridge", "not a long-term solution that we will support"
> the network wants its own token all the way to the merchant
> shop pay already runs on it, inside muse from meta, claude duet and instine-use cards: "that fundamentally breaks a transaction"
every agent card startup built on single-use virtual cards just got a deadline.
0
0
2
1,245
ST retweeted
Is everyone okay?
A modern-day police procedural take on ‘THE GREAT GATSBY’ is in the works at NBC.
The series follows Jay Gatsby, a charming investigator with a gift for reading human behavior, and Nicole “Nicky” Carraway, a cop with dreams of becoming a writer.
(Source: Deadline)
0
1
1
391
