Open
- Gov of Illinois Pritzker. $1.4m in gambling.
- BlackJack winnings.
- Sen Jon Fetterman making “based” comments.
- Now rumors that Dems are pissed!
Up Next
- Palmer Lucky on Joe Rogan
- Breaking 50 with Steph and Bryson
Security
- US Bank Sharing:
- Coinbase
- Carta
- Intuit.
Markets
Yes there could be a crash. But remember economy is not same as Stock Market
Gold/Silver/Bitcoin
- Debasement of Fiat?
- Sign of mania!?
- Foreign governments buying.
TSMC
Year-over-year, third quarter revenue increased 30.3% In US dollars, third quarter revenue was $33.10 billion, which increased 40.8% year-over-year. Gross margin for the quarter was 59.5%, operating margin was 50.6%, and net profit margin was 45.7%.
International ETF’s. VXUS.
Nvidia
- Jensen Huang 50 direct Reports. From 2023
- Every employee should have AI agents. Multiplying productivity by 10 to 100 X.
Crypto
Bitcoin vs Fiat
At its core, Elon's point boils down to Bitcoin's fundamental design: it's secured by proof-of-work (PoW), a consensus mechanism where miners worldwide compete to validate transactions and add new blocks to the blockchain. This isn't just busywork—it's computationally intensive, requiring massive amounts of real-world electricity to power specialized hardware (like ASICs). In essence, every Bitcoin transaction or block is "stamped" with proof of energy expenditure, making it extremely hard to fake or manipulate the network without burning even more energy.
Contrast that with traditional fiat currencies (like the USD or EUR), which governments can print endlessly, leading to inflation and devaluation over time—Elon calls this "fake" because it's not backed by anything tangible beyond trust in the issuer. Bitcoin's fixed supply cap (21 million coins) and energy-backed security make it more resistant to that kind of debasement. It's like digital gold, but instead of mining from the earth, you're mining with electricity, turning energy into scarcity and value.
Leverage in Crypto
Last Friday: Bitcoin dropped ~$121k - 110. So 10%.
$19b wiped out.
2 Accounts made $160m placing bets minutes before Trump News of China.
Deposit $10,000. Lever by 10x to $100,000. Debt is $90,000
Crypto currency down 10%. $100,000 to $90,000
Account gone.
Leverage Example:
Regular brokerage account.
| Regular | Leverage | ||
|---|---|---|---|
| Investment | $1000 | $1000 | |
| Loan/Borrow | - | $800 | |
| Investment | $1000 | $1800 | |
| Investment | $500 | $900 | 50% crash |
| Loan | 0 | $800 | Force Liquidation to pay loan |
| Investment | $500 | $100 | |
| Loss | $500 or 50% | $900 or $90% |
Leverage in Crypto Exchange
- Coinbase 10X
- Binance 100x !!?? 30-50x. !!! WTF
- Example:
-
- $10,000.
- Lever to $500k.
- Market up 1% = $550. $50k profit.
- Market down 1%... you can’t even cover. YOU’RE LIQUIDATED.
Reports: Specifically, around 1.6 million traders across major exchanges (including Binance) got wiped out on their leveraged positions, with over $19 billion in total liquidations in just hours
Tesla
Delaware Incorporation
From TeslaBoomerMom on the Court proceeding on Wed Oct 15.
$345m in legal fees!
With the help of some AI (ahem Grok) it seems about 27% or ~$2B of Delaware's state revenue is derived from "incorporation" related fees. Another ~$2B at least to the private sector (law firms, etc...) to support. So if companies lose faith in the predictability of the legal landscape and continue fleeing or going elsewhere to incorporate, it will have material financial ramifications to the state and its people.
EV Adoption Globally
China EV Sales
This is significant.
$270,000 yuan is ~$38k. #1 seller is 40,000 Yuan or $6000.
General Motors
General Motors issues profit warning - $1.6 billion hit from EV overcapacity. @GM GM just filed a form 8-K informing that it "approved charges of $1.6 billion in GM North America in the three months ended September 30, 2025".
GM expects it will be unable to sell its EVs after policy changes.
This $1.6 billion charge comes only 10 months after GM recognized $5 billion in charges in China.
Tesla FSD
- MadMax mode. OMG
Recommendations:
Joe Rogan: John Kiriakou is a former CIA counter-terrorism officer and the first U.S. official to confirm the agency's torture of detainees. Punished for being a whistleblower, he served nearly 2 years in a federal prison.
