A 24 year old wrote an essay. It became a $1.45 billion hedge fund. Then it fell apart in a week.
This Week's Briefing
A 24 year old wrote an essay. It became a $1.45 billion hedge fund. Then it fell apart in a week.
The Situational Awareness story, and what it says about the state of the AI trade.
Worth a swipe.
For the full episode, click one of the links below:
Key Takeaways
- From a viral essay to Silicon Valley royalty backing a fund
- Up over 400% by June
The Bigger Picture
- Memory stocks wobbled. The leverage did the rest.
- Leverage cuts both ways
Why it matters
“One of the wildest weeks in the AI trade so far.”