Exclusive: OpenAI Losses Increased Nearly 8X in 2025, With Spending Hitting $34 Billion
Soundtrack: In Flames - Colony To further support my independent journalism, please subscribe to my premium newsletter. It’s $7 a month or $70 a year. If you’re subscribed to the…
AI's Brokenomics
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Premium: The Silicon Valley Bubble (Part 1)
Friends, I believe we’re approaching the end of this era. Both OpenAI and Anthropic have filed the paperwork to go public, starting a race for exit liquidity for two companies…
AI Is Slowing Down
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Am I Meant To Be Impressed?
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Where Are All The Data Centers?
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Premium: The Hater's Guide To The AI Bubble 3.0
Last year I wrote one of my favourite pieces ever — The Hater’s Guide To The AI Bubble — and followed it up with The Hater’s Guide To The AI Bubble Volume 2 several months later.…
Premium: What If...We're In An AI Bubble? (Part 3)
Last week I ran the second part of my three-part “What If…We’re In An AI Bubble?” series where I have been covering the scenarios that I believe could lead to the bubble popping.…
Premium: AI's Circular Psychosis
In this week’s free newsletter, I explained how bad the circular AI economy is in the simplest-possible terms : Anthropic not have money to pay big cloud bills, because Anthropic…
Premium: What If...We're In An AI Bubble? (Part 1)
Every day I read some sort of wrongheaded extrapolation about the future of AI — that today’s models are somehow indicative of AGI creating a “ permanent underclass ” of people…
News: OpenAI Had A Negative 122% Non-GAAP Operating Margin In Q1 2026, and ChatGPT Growth Has Stalled
Executive Summary: The Information reports that OpenAI generated $5.7bn in revenue for the first quarter of 2026 based on discussions with sources familiar with its financials.…
Premium: What If...We're In An AI Bubble? (Part 2)
Last week I ran the first part of my What If…We’re In An AI Bubble? Series, where I asked questions and posed scenarios as to the consequences of the many, many questions I’ve…
Revenge of The Business Idiot
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AI Doesn't Have ROI
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Anthropic's "Profitability" Swindle
Yesterday, the Wall Street Journal ran a story about how Anthropic is “about to have its first profitable quarter,” specifically an operating profit, or EBITDA profitability:…
AI Is Too Expensive
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