Finance — research notes and discussions

Finance — research notes and discussionshttps://podcompanions.com/topics/finance/feed.xml2026-10-23T00:00:00ZPodCompanionsurn:podcompanions:discussion:m-shawn-ryan-show-the-leah-files-discussion-nonprofit-financial-recordsLeah describes examining nonprofit filings and vendor relationships while separating that financial investigation from claims about an assassination.

Leah describes examining nonprofit filings and vendor relationships while separating that financial investigation from claims about an assassination.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-shawn-ryan-show-the-leah-files-discussion-full-31Leah describes her understanding of defence legislation and voting; they discuss their distrust of federal politics.

Leah describes her understanding of defence legislation and voting; they discuss their distrust of federal politics.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-shawn-ryan-show-the-leah-files-discussion-full-22Leah makes claims about paid foreign influence and registration disclosures; Ryan asks for proof of the alleged payments.

Leah makes claims about paid foreign influence and registration disclosures; Ryan asks for proof of the alleged payments.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-shawn-ryan-show-the-leah-files-discussion-full-21Ryan relays a Claude-generated summary of a Time report about an alleged influencer campaign, including a denial.

Ryan relays a Claude-generated summary of a Time report about an alleged influencer campaign, including a denial.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-shawn-ryan-show-the-leah-files-discussion-full-19Leah argues that payments shape political messaging; Ryan discusses examples before they pause to locate a report.

Leah argues that payments shape political messaging; Ryan discusses examples before they pause to locate a report.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-shawn-ryan-show-the-leah-files-discussion-full-18They debate whether political influencers are motivated by payments, status or access to prominent officials.

They debate whether political influencers are motivated by payments, status or access to prominent officials.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-shawn-ryan-show-the-leah-files-discussion-full-17Leah speculates about political-media revenue, while Ryan challenges her advertising explanation and asks about the audience.

Leah speculates about political-media revenue, while Ryan challenges her advertising explanation and asks about the audience.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-shawn-ryan-show-the-leah-files-discussion-full-16Leah questions fees and related entities; when Ryan asks about a death, she says she does not think the financial questions explain it.

Leah questions fees and related entities; when Ryan asks about a death, she says she does not think the financial questions explain it.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-shawn-ryan-show-the-leah-files-discussion-full-15Leah questions nonprofit expenses and vendor payments, presenting figures and interpretations from her investigation.

Leah questions nonprofit expenses and vendor payments, presenting figures and interpretations from her investigation.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-shawn-ryan-show-the-leah-files-discussion-full-14Leah recalls learning of a request to review Turning Point USA’s finances and operations, and explains why it prompted her investigation.

Leah recalls learning of a request to review Turning Point USA’s finances and operations, and explains why it prompted her investigation.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-shawn-ryan-show-the-leah-files-discussion-full-13Ryan raises concerns about oil, currencies and international power; Leah says she has not investigated the current issue.

Ryan raises concerns about oil, currencies and international power; Leah says she has not investigated the current issue.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-shawn-ryan-show-the-leah-files-discussion-full-12Ryan and Leah criticise political promises and discuss declining trust in government and online political messaging.

Ryan and Leah criticise political promises and discuss declining trust in government and online political messaging.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-shawn-ryan-show-the-leah-files-discussion-full-11Ryan introduces an election prediction market, and Leah predicts political outcomes while discussing divisions within the Republican Party.

Ryan introduces an election prediction market, and Leah predicts political outcomes while discussing divisions within the Republican Party.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-shawn-ryan-show-the-leah-files-discussion-full-10Leah describes corporate due diligence, political clients and using financial records to investigate narratives.

Leah describes corporate due diligence, political clients and using financial records to investigate narratives.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-shawn-ryan-show-the-leah-files-discussion-full-07Leah describes financial modelling for intelligence budgets and the incentives she associates with government spending.

Leah describes financial modelling for intelligence budgets and the incentives she associates with government spending.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-shawn-ryan-show-the-leah-files-discussion-full-06Leah recounts entering defence contracting, obtaining clearance and moving between modelling and intelligence-related roles.

Leah recounts entering defence contracting, obtaining clearance and moving between modelling and intelligence-related roles.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-shawn-ryan-show-the-leah-files-discussion-full-01Ryan introduces Leah, who describes her financial-investigation work, clients and a case she says ended with a client’s death.

Ryan introduces Leah, who describes her financial-investigation work, clients and a case she says ended with a client’s death.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-volatility-and-demandSacks argues that market volatility need not signal weaker demand, pointing to compute scarcity, build-out constraints and the role of customer credit.

Sacks argues that market volatility need not signal weaker demand, pointing to compute scarcity, build-out constraints and the role of customer credit.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-takeoff-conditions-and-influenceHorowitz questions runaway self-improvement scenarios, and the panel speculates about media incentives, philanthropy and Gates’s influence.

Horowitz questions runaway self-improvement scenarios, and the panel speculates about media incentives, philanthropy and Gates’s influence.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-startup-growth-and-ipo-demandThe panel discusses rapid startup growth and prospective demand for major AI listings, while Palihapitiya warns about higher interest rates.

The panel discusses rapid startup growth and prospective demand for major AI listings, while Palihapitiya warns about higher interest rates.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-software-moats-and-powerHorowitz and Sacks discuss evolving software advantages, while Palihapitiya argues that access to power could become a critical constraint.

Horowitz and Sacks discuss evolving software advantages, while Palihapitiya argues that access to power could become a critical constraint.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-security-anecdote-and-specialist-modelsHorowitz recounts an agent-security test, while the panel discusses specialist models, customer data and proposed uses of AI for defensive research.

Horowitz recounts an agent-security test, while the panel discusses specialist models, customer data and proposed uses of AI for defensive research.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-power-and-paybackThe panel discusses energy and geopolitical constraints, then Sacks compares reported payback periods under contracted and spot pricing.

The panel discusses energy and geopolitical constraints, then Sacks compares reported payback periods under contracted and spot pricing.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-payback-and-contract-tradeoffsThe panel debates payback periods, operating penalties and whether shifting capacity from fixed contracts to spot sales would improve financing outcomes.

The panel debates payback periods, operating penalties and whether shifting capacity from fixed contracts to spot sales would improve financing outcomes.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-pandemic-analogy-and-ai-warningsThe panel uses allegations about pandemic research to criticise AI warnings and speculate about Bill Gates’s motives.

The panel uses allegations about pandemic research to criticise AI warnings and speculate about Bill Gates’s motives.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-moment-1A CoreWeave interview excerpt explains the financing “box”: customer contracts, GPUs and data-center commitments supporting a prescribed cash-flow sequence.

A CoreWeave interview excerpt explains the financing “box”: customer contracts, GPUs and data-center commitments supporting a prescribed cash-flow sequence.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-model-replication-and-distillationThe hosts describe Anthropic’s device experiments; Sacks criticises its warnings and argues that providers should address distillation through their own technical controls.

The hosts describe Anthropic’s device experiments; Sacks criticises its warnings and argues that providers should address distillation through their own technical controls.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-model-constitutions-and-agencyAfter jokes about device risks, Sacks discusses a study of model-written constitutions and argues that encouraging moral agency could create alignment problems.

After jokes about device risks, Sacks discusses a study of model-written constitutions and argues that encouraging moral agency could create alignment problems.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-market-reactionThe hosts introduce a sell-off in cloud-computing shares and CoreWeave debt, then set up an earlier interview about its financing structure.

The hosts introduce a sell-off in cloud-computing shares and CoreWeave debt, then set up an earlier interview about its financing structure.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-market-concentration-and-governanceThe panel discusses compute commitments and model-market concentration, then offers views on OpenAI governance, executive equity and early contributors.

The panel discusses compute commitments and model-market concentration, then offers views on OpenAI governance, executive equity and early contributors.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-late-stage-investment-and-conflictsHorowitz discusses investing in competing large AI companies and distinguishes late-stage financing from early venture rounds, criticising the shift toward private markets.

Horowitz discusses investing in competing large AI companies and distinguishes late-stage financing from early venture rounds, criticising the shift toward private markets.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-ipo-uncertainty-and-competitionThe panel weighs uncertain Anthropic revenue reports and IPO expectations; Sacks criticises its regulatory posture, while Palihapitiya praises its products.

The panel weighs uncertain Anthropic revenue reports and IPO expectations; Sacks criticises its regulatory posture, while Palihapitiya praises its products.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-ipo-announcement-and-projectionsThe hosts discuss reported Anthropic investor figures and IPO expectations, acknowledging uncertainty about adjustments and secondhand revenue estimates.

The hosts discuss reported Anthropic investor figures and IPO expectations, acknowledging uncertainty about adjustments and secondhand revenue estimates.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-financing-and-bespoke-softwareThe panel considers financing vulnerability, then debates whether cheaper coding will undermine software businesses or expand demand for bespoke applications.

The panel considers financing vulnerability, then debates whether cheaper coding will undermine software businesses or expand demand for bespoke applications.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-device-security-debateSacks contrasts existing device malware with proposed model-assisted attacks and argues about performance tradeoffs and possible defensive tools.

Sacks contrasts existing device malware with proposed model-assisted attacks and argues about performance tradeoffs and possible defensive tools.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-default-risk-and-fundingPalihapitiya interprets credit-market pricing and charts as signals of refinancing risk, contrasting fixed customer commitments with future borrowing needs.

Palihapitiya interprets credit-market pricing and charts as signals of refinancing risk, contrasting fixed customer commitments with future borrowing needs.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-coupon-and-market-yieldSacks distinguishes CoreWeave’s existing bond payments from secondary-market repricing, while the panel debates borrowing costs and customer credit.

Sacks distinguishes CoreWeave’s existing bond payments from secondary-market repricing, while the panel debates borrowing costs and customer credit.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-concentration-and-financing-costsPalihapitiya links borrowing costs, customer concentration and GPU lifetimes to his assessment of CoreWeave’s financial resilience.

Palihapitiya links borrowing costs, customer concentration and GPU lifetimes to his assessment of CoreWeave’s financial resilience.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-company-and-project-debtThe panel disputes a CoreWeave bankruptcy prediction by invoking separate project vehicles, then turns to wider AI-market risks.

The panel disputes a CoreWeave bankruptcy prediction by invoking separate project vehicles, then turns to wider AI-market risks.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-cloud-infrastructure-lessonsHorowitz discusses infrastructure complexity, contrasts current demand with the internet bubble and recalls Loudcloud’s exposure to falling bandwidth prices.

Horowitz discusses infrastructure complexity, contrasts current demand with the internet bubble and recalls Loudcloud’s exposure to falling bandwidth prices.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-closing-advice-and-reputationThe panel closes with advice to keep building companies rather than prioritising reputation, then jokes about inviting Gates onto the show.

The panel closes with advice to keep building companies rather than prioritising reputation, then jokes about inviting Gates onto the show.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zurn:podcompanions:discussion:m-all-in-coreweave-ai-anthropic-discussion-cash-reserves-and-computePalihapitiya advocates a larger fundraising cushion at a lower valuation, and the panel debates compute costs, financing risk and resilience.

Palihapitiya advocates a larger fundraising cushion at a lower valuation, and the panel debates compute costs, financing risk and resilience.

2026-10-23T00:00:00Z2026-10-23T00:00:00Zhttps://podcompanions.com/up-first/2026-10-20-russia-midterms-voting/#t-moment-1Research note: Campaign spending records need careful comparisons

Campaign spending records need careful comparisons

2026-10-20T00:00:00Z2026-10-21T00:00:00Zhttps://podcompanions.com/shawn-ryan-show/the-leah-files/#t-nonprofit-financial-recordsResearch note: A public filing is not an independent audit

A public filing is not an independent audit

2026-10-20T00:00:00Z2026-10-21T00:00:00Zhttps://podcompanions.com/all-in/coreweave-ai-anthropic/#t-moment-1Research note: Inside CoreWeave’s financing box

Inside CoreWeave’s financing box

2026-10-20T00:00:00Z2026-10-21T00:00:00Zhttps://podcompanions.com/all-in/coreweave-ai-anthropic/#t-ipo-announcement-and-projectionsResearch note: An IPO announcement is not an agreed valuation

An IPO announcement is not an agreed valuation

2026-10-20T00:00:00Z2026-10-21T00:00:00Zhttps://podcompanions.com/all-in/coreweave-ai-anthropic/#t-coupon-and-market-yieldResearch note: A bond’s coupon and market yield are different

A bond’s coupon and market yield are different

2026-10-20T00:00:00Z2026-10-21T00:00:00Zhttps://podcompanions.com/all-in/coreweave-ai-anthropic/#t-company-and-project-debtResearch note: Project debt is only one part of the balance sheet

Project debt is only one part of the balance sheet

2026-10-20T00:00:00Z2026-10-21T00:00:00Z