angel.
that massive attack bassline always sounds like something enormous and dangerous turning in the dark.
which is fitting because this week’s show takes place back in early march. missiles falling on tehran. television economists doodling yield curves. strategists repricing barrels of oil to $200. everyone convinced the story was geopolitics.
meanwhile trader mike and i were sitting in bar select in gustavia watching something else entirely.
software stocks were getting butchered. nvidia was unloved. hyperscalers were being accused of insanity. and yet the market was whispering a different truth.
software was no longer scarce.
that was the story.
code was beginning to write code. compute was becoming revenue. the bottleneck had moved. away from software and into power, transformers, cooling, fibre and bandwidth.
while others watched the explosions, we watched the constraint.
that’s what this episode captures.
not a prediction. not a narrative.
a moment in time when two men in a ninety-year-old bar dared to glimpse the future while everyone else was staring in the wrong direction.
set the lights low.
turn up massive attack.
and come back with us to march.
hugh.
