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Today’s Animal Spirits is brought to you by Grayscale and Janus Henderson Investors:
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Paul Tudor Jones says the US is more dependent on equity prices than ever, and explains what a 35% correction would trigger in the economy:
“We’re 252% of stock market cap to GDP. In 1929 we were 65%. In 1987 we got to ~85-90%. In 2000, 170%.
If you think about the periodicity… https://t.co/GL8sBwNXZt pic.twitter.com/jYmWcOHw69
— Patrick OShaughnessy (@patrick_oshag) April 28, 2026
Earnings boom really accelerating.
Forward estimates now up >25% YOY.
Passing through the first part of Q1 reporting, forward estimates are leveling up.
Updated chart below…Unprecedented. https://t.co/YfXRfvfy0T pic.twitter.com/ATSLX6PPaN
— Warren Pies (@WarrenPies) May 2, 2026
BofA: Hyperscalers’ capex as % of operating cash flow was 70% in 2025 and is expected to be >90% in 2026 pic.twitter.com/vRZ88BZXwb
— Mike Zaccardi, CFA, CMT 🍖 (@MikeZaccardi) May 3, 2026
These stats on Anthropic’s rate of growth are wild. https://t.co/r4b9i8b8gX pic.twitter.com/yZLspL7bX1
— nxthompson (@nxthompson) May 1, 2026
$10T or bust
— Elon Musk (@elonmusk) May 3, 2026
Stripe data shows
(A) startups incorporations way up, and
(B) startups in AI seeing faster-growing revenue than is historically normalFor now, AI agents are better at creating firms than destroying jobs https://t.co/MBSae8OkfZ
— Derek Thompson (@DKThomp) May 2, 2026
This is an email I sent earlier today to all employees at Coinbase:
Team,
Today I’ve made the difficult decision to reduce the size of Coinbase by ~14%. I want to walk you through why we’re doing this now, what it means for those affected, and how this positions us for the…
— Brian Armstrong (@brian_armstrong) May 5, 2026
The housing “bubble” in the late 2000s looks quaint by comparison now pic.twitter.com/VdfaGgeqJm
— Alec Stapp (@AlecStapp) April 26, 2026
WSJ came to us with a profitability analysis of public Kalshi profiles. Which was inaccurate, because the majority of traders keep their profiles private. So we did the analysis ourselves and gave it to the WSJ. Our analysis showed that Kalshi traders win more than they do on day… https://t.co/aJ4oG0XB7H
— Elisabeth Diana (@ediyork) May 4, 2026
we have a new “get a load of this guy” meme pic.twitter.com/lGJ4dQo7JC
— claire de lune (@ClaireMPLS) May 2, 2026
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