GAWDE Awful AI

TechGods love to imitate.  In this case, they may be going all out as Anthropic workers are rumored to be worshiping Claude AI as a deity.  

In Biblical times they were called slaves and fed gruel.  Today they are employees doing "grueling work,"  twelve hours a day, six days a week.  

Abusive work environments cause people to worship all kinds of ungodly things and horrible people.  TechGods, as a whole fall, into the horrible people camp.

There's always an angle with these guys.  Why would Palantir CEO Alex Karp suggest nationalizing AI companies on CNBC?  

Is it a concerted effort to make AI sound really dangerous while AI firms are at stratospheric prices?  Sell to Uncle Sam and lock in those monstrous valuations.  It sounds like something schemed up by Peter Thiel/Alex Karp at a Bilderberg Group gathering.  AI has been on their agenda for many years and Palantir cut its teeth protecting global tamperers.

Politicians Red & Blue love private equity underwriters (PEU) and their new TechGod brethren.  TechGods have the AI companies, while PEUs finance their data centers.  

Lock in the insanity, lock in the profits!  It's perfectly diabolical and abusive to the U.S. taxpayer.

TechGod Family Office Beats PEUs for Insurance Firm

The Dell Family Office and Sequence Holdings plan to take insurance broker The Baldwin Group private for $7.7 billion.  The play is multifold.  New owners can leverage reinsurance capital pools, increase profits via AI and broaden access to high net worth individuals needing specialized insurance products.  

Baldwin's CEO wrote:

The only thing changing is the capital structure around the firm, and we are changing it because the moment in front of us demands it. 

With the ownership and partners now behind us, we intend to lean further into that advantage than we have been able to as a public company in the current environment: in recruiting, in development, in the tools we place in colleagues' hands, and in the ownership opportunities we extend to the people who build. We plan to be the destination for the most talented and ambitious professionals.

As for the AI transformation the "sell out" CEO has an AI vision:

This is not only about efficiency and faster cycle times. The same technology is producing predictive pricing that reflects risk in real time, claims analytics that prevent losses before they happen rather than just processing them after the fact, sharper appetite matching between risk and capacity, better insights for continued development of proprietary products, and claims servicing that resolves faster and more fairly for the people who count on it.

Does that sound like more than a capital structure change (the only thing changing)?

It's hard to trash a public company in real time with AI disruption.  Shareholders have expectations that executives aren't going to destroy their investment.  Patient private capital has a long history of replacing people with incapable technology.  The greed and leverage boys have a new tool for doing that very thing.

One owner is the new kid on the block, Sequence Holdings.  Six months ago management introduced the firm on LinkedIn:

Today, we’re introducing Sequence Holdings, a permanent holding company to bring AI and engineering to the core of great American businesses. 

We've raised $75M, with our seed round led by Conviction and 8VC and our Series A led by Lux Capital, joined by Definition, Avenir, Chris Ré, and other leading institutional partners. 

Our team brings experience from Palantir, Scale AI, Silver Lake, Apple, and other excellent companies.

As for the "take private" it will work like this:

Agreement and Plan of Merger, by and among the Company, The Baldwin Insurance Group Holdings, LLC, Square Acquisition Parent, Inc. (“Buyer”), Square Acquisition Merger Sub I, Inc. and Square Acquisition Merger Sub II, LLC (the “Transaction”)

Dynamic crapification, here we come.  I believe that is the sequence.

Trump Boys All-In on Dominari

Don Jr. and Eric exercised the rest of their Dominari warrants and now hold nearly 1.4 million shares apiece.  

Together they hold 11.5% of Dominari which:

focuses on unique and compelling opportunities in the ever-emerging American technology and AI-verse. Through its various subsidiaries, the Company is currently engaged in wealth management, investment banking, sales and trading and asset management. In addition to capital investment, Dominari provides management support to the executive teams of its subsidiaries, helping them to operate efficiently and reduce cost under a streamlined infrastructure. In addition to organic growth, the Company seeks opportunities outside of its current business to enhance stockholder value, including in the AI and Data Center sectors.

Does this explain some of Trump II's aversion to setting the most basic boundaries on AI and data centers? 

 

I would state it directly but then I would be accused of doing some unwarranted. 

ChatGPT Unfamiliar, Gemini Gets Close

What is PEUReport?  ChatGPT is unsure.  Gemini should know as PEUReport is on Blogger, which is part of Google's product offerings.

The blog itself makes clear what PEU stands for, private equity underwriter not private equity underground.

It's been around since July 2007 and a few business writers have found it over the years.

"Readership", people and scrapers, have varied over the decades.  The initial boost from AI is over for this blog, although one of my other blogs is getting "millions" of views a month.  

So why the bloom off the PEU rose?

It's smart not to say bad things about your financier, especially as a politically connected TechGod.

Politicians Red & Blue love PEU and their new TechGod brethren and increasingly, more are one.

Attacking the YES PEU Train

If anyone was wondering what had former British Prime Minister Boris Johnson and former CIA Chief David Petraeus on trains in Ukraine when Russia attacked one nearby, here's your answer.  They all had attended the annual Yalta European Strategy (YES) meeting in Kiev.  

Boris Johnson, Prime Minister of the UK (2019-2022), commented that: “The great advantage Putin has, and always has had, is clarity of purpose. He knows what he wants out of this thing. He wants to stop Ukraine ending up in the Western camp, one way or the other, and we’re failing to be clear ourselves. Only clarity will fix this thing.” 

“(Putin) is a creep, added Johnson. “He’s a thug. He’s a KGB man and he’s a bully. This is fundamentally an imperial war. It’s about Russia’s sense that there’s no possibility of a Russian future, or a Russian empire, or Russian dignity without Ukraine, and that is an absolute disaster.”

Johnson advises Bia Advisory as Principal and Petraeus holds lots of titles with KKR, the first of which is partner.

David Petraeus, Partner, KKR: “ His (Putin) theory of victory is fundamentally that time favours him. He thinks that he can out-suffer the Ukrainians and the West. He is hoping for the exhaustion of Ukraine and the West, and he wants to see political change in Europe and the United States so that elements start to question whether to continue to support Ukraine.” 

“I am very confident that Ukraine can withstand this winter,” added Petraeus “The question is: how painful will it be? The entire society of Ukraine is stepping up to meet this, but the question is whether there are knock-on effects that start to undermine the national resilience that has been on display so impressively until now.”

I doubt many people in this room have issues staying warm and fed this winter.  

  

Other private equity underwriters (PEU) and TechGods attended (see picture at the top of this post).  Former Army Chief and Flex Capital COO Dan Driscoll was there, as was Eric Schmidt, former Google CEO turned high tech military supplier.

White House special envoy Jared Kushner, himself a PEU with Affinity Partners, reached out to Petraeus' KKR and Apollo (of Jeffrey Epstein fame) for recovery funds.  

Will they change the country's name to U-KKR-aine?

I'm sure CNN's Fareed Zakharia will let us know.  He has a long history of fawning over global tamperers of the PEU variety.

As for Ukrainians staying warm this winter that will depend on their natural gas supplies, increasingly PEU owned.  It turns out the greed and leverage boys love carbon emissions.  Only four large countries stand in front of them in carbon emissions.

Politicians Red & Blue love PEU and their new TechGod brethren.  Increasingly, more are one and for that the little people suffer.

Buying Pardons from Trump II: "Strategery"

A pardon broker told 60 Minutes that their $1 million fee purchased his firm's "strategery."  I hope he pays a royalty to Saturday Night Live and actor/comedian Will Ferrell who coined the term in a 2000 skit.

The broker shows the clownish nature of the insider money funnel that has wound out of control the last few decades.

Politicians Red & Blue love private equity underwriters (PEU) and their new TechGod brethren.  Increasingly, more are one and they are insulated from following laws that apply to most Americans.  

On the rare case greedy miscreants are held to account for their evil deeds, pardon brokers stand to wipe out any blemishes in return for massive fees.  Strategery!

Sweeney Goes PEU for NOVIG

Sydney Sweeney joined the private equity underwriter (PEU) family by becoming a strategic advisor and equity holder in NOVIG, a 21-plus sports prediction market.  The ad has her saying "Just sports."  

The greed and leverage boys have been all over pro and college sports for the last few years.  They brought their ethical lapses with them in the case of LA Lakers owner Mark Walther.

Sweeney's boyfriend partnered with The Carlyle Group on Taylor Swift's music rights and that saga went on for quite some time.  An obsession for money can make people very ugly.

Just SPEURTS!  Beware the dividend....  It's coming, baby.  For you, they might make a special distribution.

Update:  This non-gambling site happens to have a gambling term in its name, vig.