The AI Dongularity Encroaches

AI will "cure cancer" and give everyone "a penthouse."  These are the promises of TechGods.  

The reality may be far different.  

As for the quality of TechGod leadership...it is clearly lacking:

Rushing crappy tech to market has a rich long history for those who've experienced vapor or error-ware.

We now have slop-ware.  Customer support!  Face cleanup on page 7.  

China has nothing to do with my wish to not have a data center nearby.  Actual communications from Beacon Data Centers executives are the cause.  Vague and ever changing answers arose from Canada, not Beijing.

TechGods and their private equity underwriter (PEU) financiers control corporate strategy and steer government attention away from their money making ventures while directly facilitating their further enrichment (already at obscene levels)..

Democracy is supposed to reflect the majority.  That has not been the case for some time.  People have long wanted healthcare costs to go down, for the wealthy to bear a greater tax burden, for the U.S. to not intervene militarily across the globe and for leaders to be honest and not manipulate voters.

The workplace is not a democracy but people expect to be treated decently.  Workers don't like seeing output quality disrupted or incapable processes put in place.  AI does both.  Bonus, it's addictive.  It becomes even more tiresome as TechGods lurch from one priority to another.  

Politicians Red & Blue love PEU and their new TechGod brethren.  Increasingly, more are one and for that the common person suffers.

Update:  Business Insider noted:

Is it a Chinese psy-op? Are Americans ignorant? Or are tech bros just completely out of touch? 

Tech leaders across the country are full of ideas about why Americans are in a furor against data centers, positing theories on social media that range from practical to patronizing.

Maybe we don't like insufferable people who lie, manipulate and deceive.

  

That PEUs, TechGods and elected officials are coalescing into one could be the dongularity.  

Update 8-24-26:  Time ran a piece by a Northeaster University professor showing TechGods are all over the place and "disinterested in philanthropy or profit sharing" while avoiding taxes and taking huge government subsidies.

the future isn’t something we build together. It’s something they get to build on our behalf. 

What makes this eschatology dangerous is that it is held by the people with the most resources to act on it. Musk, Altman, and Thiel aren’t theologians speculating about the end times. They’re building the thing their theology tells them is coming, funding the politics that protects their ability to build it, and treating anyone who asks them to slow down as a luddite or Antichrist rather than a citizen with a legitimate concern. A belief that the present doesn’t matter, held by people with the power to shape it, doesn’t stay a belief. It becomes policy, product, and precedent, with tech bros deciding the future on behalf of everyone else, without anyone else’s consent.

And a pox on all their corporate houses and lobbying firms...

Trump II Clueless & Careless

When PEU executives change an affiliate's operating model, chaos ensures and quality plummets. It's the price of disruption and many U.S. workers have lived through such efforts where tech replaces people.

TechGods imitated the PEU model on behalf of Trump II.  They called it DOGE.  I called it DOUGEBAG.  That stands for Department of Ungodly Greedy Executives Biased Against Government.

Much has been destroyed.  It can be seen in NOAA with less accurate weather forecasting, the Center for Disease Control with environmental surveillance dismantled and various diseases running amok,  as well as our National Parks which serves as the slush fund from which Trump II reshapes Washington, D.C.

For the CDC deterioration Fortune noted: 

Led by then-adviser Elon Musk and the Department of Government Efficiency, the cuts affected researchers, scientists, doctors, support staffers and senior leaders, leaving the government without many of the key experts who long guided U.S. decisions on medical research, drug approvals and other issues.

  

In the case of NOAA Forbes cited:

Experts told Forbes that there are simply fewer weather monitoring instruments being used today than before agencies like the NOAA suffered cuts under the Trump administration. 

According to the report there are fewer buoys measuring wave conditions than in 2024, and fewer weather balloons being launched to collect data on air pressure, temperature, humidity, and windspeed. That data feeds weather models, which is then used to build forecasts by weather apps and local forecasters. 

One program, enacted 20 years ago to measure arctic ice, was recently cut by the Trump administration. 

Plans for a next-generation weather satellite meant to replace two older, faltering structures that may begin to fail in the next several years have been scrapped.

As for National Parks its conservancy stated:

“A cut this massive would be catastrophic. After a year of deep staffing cuts, dwindling resources, and attacks on history and science, park staff are already at the brink. Park maintenance needs are growing, protections are eroding, and visitor experience is declining. This proposal would only accelerate the damage, putting our national parks at even greater risk and further cutting the park staff needed to care for our national treasures. 

“At the same time, the administration appears to be prioritizing a vague set of new construction projects across Washington, DC, proposing $10 billion for this program alone, which is more than three times the annual budget of the National Park Service. We support efforts to modernize and repair park infrastructure but not when it’s paired with massive cuts to Park Service operations."

Trump II's arrogance and incompetence will not be stemmed up by AI, robots or other items paraded about by his PEU supporters and the TechGod cabal who look the other way in return for political power, low taxes, government subsidies and access to Uncle Sam's wallet.

People, i.e. voters, don't like what they see.  

A majority of young adults are now more worried than enthusiastic about the growing role artificial intelligence (AI) has in their daily lives, according to a Pew Research survey released Tuesday. 

Among adults ages 18 to 29, 55% said they were more concerned than excited about AI, while just 11% said they felt the reverse.

We've seen the impacts of Elon Musk's major tampering of government which saved no money and caused actual harm.  

His dangling of AI's ideal future feels like a TechGod manipulation.

We seek Trump II spending like there is no tomorrow on wars and reshaping our nation's capital in his image ad nauseam.  

We see the PEU/TechGod club getting their way (over and over and over) while cretins and creeps "run" federal government operations into a symbolic Death Valley (the lowest place in the U.S.).

Lord help us.  Lord protect us from Old Testament Kings, their Centurions and the many usurpers of your realms.  Hear our prayer.

Ringing the Alarm on PEUnnuities

Bloomberg wrote about Leon Black before he stepped down as head of Apollo due to "health reasons" (translation:  his long term relationship with Jeffrey Epstein).  Their story included:

Apollo was busy building Athene, the insurer that would become its main source of cash. Apollo helped fuel its own growth by funneling Athene’s money into Apollo funds and collecting management fees on the investments. The arrangement drew the two companies even closer together. As Athene assets swelled at the end of 2013, it became clear to Apollo executives they were sitting on a gold mine. Rowan pushed a measure through the insurer’s board to double the fees it paid Apollo, raising them to more than triple what a typical manager would get, according to people familiar with the matter. (Apollo says it has delivered significant value to Athene and that the insurer benefits from its support, including tax, legal, and financial services.) The insurer has made Apollo the envy of Wall Street. Athene now generates a quarter of Apollo’s fee-related income, but it’s also drawn scrutiny from officials. The relationship between the companies is so intricate, says one former employee, that it would take regulators a year to understand it.

Private equity underwriters (PEU) cut their teeth packaging funds for endowments, pension funds, sovereign wealth funds and family offices.  It's much easier when the PEU owns the capital pool, as is the case with insurance companies.  

Many corporate pension funds have outsourced their pension liabilities to PEU owned life insurance companies via the purchase of annuities.  This shifts the liability for guaranteeing that pension from the employer to the state regulated life insurance company (PEU owned).  

Government regulators at the state and federal level are OK with the switch and apparently have no concerns about the quality of investments backstopping those contracts.  

Many financial experts have become concerned about PEU firms loading up their insurance affiliates with their own offerings.  Owner sells to owned insurance company its packaged investment offerings.  There is only one very strong arm in this deal.  Nothing is arm's length.  

Bond guru Bill Fleckenstein of Fleckenstein Capital noted the size of these conflicting relationships: 

Apollo has placed $227 billion of its deals into Athene US Life, its captive life insurance company; KKR has placed $163 billion of its deals into its Global Atlantic; Blackstone has put $209 billion into its Fidelity & Guaranty, Everlake, and Resolution Life; Brookfield has placed $90 billion into its American National, and so on."--Dan Oliver of Myrmikan Capital

Carlyle has Fortitude: Re "to sell" into.  

Their most recent 10-K states:

Carlyle FRL owns a controlling interest in Fortitude and has the right to appoint a majority of its board of directors. As a result, there may be real or apparent conflicts of interest with respect to matters affecting the Company, Carlyle-managed funds, and their portfolio companies and Fortitude, including with respect to the fiduciary duties that our employees that are board members owe to Fortitude in addition to the duties that they have to the Company. In addition, conflicts of interest could arise with respect to transactions involving business dealings between the Company, Fortitude, and each of their respective affiliates. The foregoing conflicts of interest may also arise with respect to subsidiaries of Fortitude.

Recall that this is what got former Lakers owner Mark Walters in trouble.  Walters loaded up his captive insurers with his affiliates' debt, while misrepresenting the size and scope of those holdings.  

Walters is connected so it will be interesting to see how his situation plays out given that politicians Red & Blue love PEU and their new TechGod brethren.  Increasingly, more are one. 

Update 8-24-26:  Bill Fleckenstein summed it up with:

The PE industry really is despicable in so many ways.

Coming Soon: Trump II's World Liberty Trust Bank

 CBS News reported:

The Treasury Department's Office of the Comptroller of the Currency (OCC) on Friday granted preliminary approval to World Liberty Trust Company to establish a bank charter, a move that would allow it to issue and manage its own stablecoins without relying on a middleman.

Trump II co-founded World Liberty Financial in fall 2024 as he ran for a second Presidential term.  

"This creates the awkward situation of the OCC needing to police World Liberty, which has an affiliation with the president's family," said Austin Campbell, a professor at New York University's Stern School of Business. "It is pretty unprecedented."

The Guardian noted: 

World Liberty's bank will not be allowed to pay its depositors, the companies and individuals who buy its stablecoins, any interest. 

The bank, however, can earn interest for itself by putting the cash it collects from those depositors into high-quality liquid investments – US government-backed treasury bonds.

So the Treasury is incentivized to approve a future buyer of its bonds.  Right now Treasury Chief Scott Bessent needs help pressing down interest rates.  Eric and Zach to the rescue.

Trump II's family holds 38% of World Liberty.  A UAE sovereign wealth fund owns 49%.

Banking Dive reported:

The bank will be governed by a five-member board which will include CEO and Chairman Zach Witkoff; Scott Alper, president and chief investment officer at Witkoff Group; Robert Witkoff, former co-chief investment officer of insurance firm Chubb Co.; Jeffrey Weiner, former CEO of accounting firm Marcum LLP; and Erin Baskett, a member of the Financial Industry Regulatory Authority’s board of governors. 

World Liberty Trust will issue and redeem USD1, manage the reserve backing USD1, and conduct digital asset custody services for institutional customers.

The major users of USD1 are also Middle East sovereign wealth funds.   Reuters reported in May 2025:

A stablecoin launched by Donald Trump's World Liberty Financial crypto venture is being used by an Abu Dhabi investment firm for its $2 billion investment in crypto exchange Binance, one of World Liberty's co-founders said on Thursday.

Fortune added: 

When first launched, the company had no products—except for a cryptocurrency that it sold to investors for $550 million. In March, the company launched its own stablecoin, or cryptocurrency pegged to underlying assets like the U.S. dollar. 

The coin got an immediate bump in market capitalization after MGX, another venture firm tied to the Abu Dhabi royal family, invested $2 billion into the crypto exchange Binance with USD1, the stablecoin.

Maybe they can name it Phoenix Bank as it is rising fast towards the sun.  When that Co-founder Emeritus hairpiece catches fire things may get very ugly.  Until then party like its the late 1920's under the Great Trumpsby.

Update:  Reuters found a concerning use of USD1 as payment currency for Chinese AI models identified by the Trump administration as a threat to national security.  

Their review:

... found that 43 of the 90 models available through WorldClaw’s website, or nearly half, were developed by Alibaba, Baidu, Z.ai and other Chinese technology companies the Trump administration says pose risks to national security and intellectual property.

One could go insane looking for consistency under Trump II.  World Liberty's Head of Growth Ryan Fang is an advisor to WorldClaw.  The insider money funnel is spinning cash to connected individuals.

Trump II's Regulatory Pot Boils for Some, Cool Drink for Others

It's getting harder to know a number of things as the globe fractures into continental alliances.  The U.S. is backtracking on corporate ownership disclosures as it facilitates corporate hacking of global entities.  Trump II refers to such hackers as "cyber privateers" and they are to fight:

"any foreign group that conducts cyber-enabled crime against the United States Government, a United States person, or United States interests, and that is not an institutional part of a foreign government or wholly operated under a foreign government’s direction"

Additionally, the Pentagon plans to crack down on the transfer of technology and intellectual property theft.   Once again, this is not a domestic taking of intellectual property without permission, a foundational practice for most AI models.

The former Defense Department is focusing on foreign appropriators of U.S. technology/intellectual property.  Elected officials have long used the military as our global police force.  For the last few decades it took only the President to start or enter an international conflict.

Private equity underwriters' (PEU) political influence soared over that period as they flipped affiliates doing big business with Uncle Sam, hired former public servants in non-lobbying, lobbying roles and preserved their highly unpopular preferred "carried interest" taxation.

TechGods noted and copied the PEU playbook, albeit a bit more brashly.  

The Pentagon identified "suspect entities" in China, Russia and Iran and published a list.  

Pete Hegseth must have used a Ginshu knife when it came to Tsinghua University in Beijing.  Their Master of Global Affairs is OK while their Center for International Security and Strategy is verboten.

Might Blackstone co-founder Stephen Schwarzman have influenced Trump II's thinking?  Schwarzman is the Founding Trustee of Tsinghua University's Schwarzman Scholars.

Trump II disdains knowledge, thus his propensity to attack universities.  He disdains responsibility, accountability and consistency as they interfere with his ability to launch his signature "savage whims."

Trump II does things in each and every present moment that maximize his image and reflect his greatness.  He wants to protect his crony friends and loyal members of the Red Team.  This creates a Swiss Cheese framework to those paying attention.  It's cheese in this instance and a hole in another.

If he can break their minds then Trump II has them.  

To sum up:

Global affairs, supporter/friend/neighbor/PEU - OK  

International Security and Strategy, lacking political Red Team heavyweight - Not OK

And that's why so many tune him out.  This simply adds to the danger as politicians Red & Blue love PEU and their new TechGod brethren.  Increasingly, more are one in a marriage of dark forces.

Offending "Epstein-Junkermann" Post

Google sent a notice that one of my blog posts violated copyright laws in a specific country.  No country was identified.  

The offending post is titled "Epstein's Junkermann PEU."  I posted it in February 2026. 

The piece dealt with the Epstein files and the child sex predator's relationship with Nicole Junkermann, a European private equity underwriter (PEU).  

The communication stated an offending URL but provided none below that line:

Affected URL(s): 

 -----------------

A review of the post showed no remaining links.  The communication included the name of the person filing the complaint against PEU Report.  

I searched for a reporter, author or writer by that name and found none.  A photographer had a similar name but differed in the spelling of their first name.  I did find a trainee solicitor with that name at a London law firm.

I wondered if an image was the source of the problem as I used a photo from a Business Magazine (UK) article and added images of Jeffrey Epstein, NJF Capital and NJF Private Equity.

I also included a graphic with an e-mail communication between Nicole Junkerman and Jeffrey Epstein.  This e-mail was at one time included in the DOJ's Epstein files release, which is how I obtained it.

The content of the post is below (all my words):

(introductory image - compliation as described above)

The Epstein Library has curious functionality.  Yesterday I could search the last name Junkermann and see 4,000 results.  Today it shows zero.  

A search on that person's first name, Nicole, produced over 5,000 results.  I'll venture most belong to Junkermann but there is another Nicole that works for Deutsche Bank.  

Nicole Junkermann founded NJF Capital which invests in various transformative tech ventures.  It also has a sister firm, NJF Private Equity.  That makes her a private equity underwriter (PEU).  There aren't many who can pull off a TechGod/PEU combo.

In January 2014 TechGoddess Nicole Junkermann informed Jeffrey Epstein that she had "split up with mario."  

Junkermann experienced the creep in Jeffrey Epstein.  He lorded over her as ungrateful and ungiving, but she gave it right back.

(image of their communication) 

Jeffrey and his wingman, Donald, missed the part about insiders not speaking badly about other insiders.  Either would trash you in a heartbeat. 

The DOJ's Epstein Library is another window into politicians Red & Blue love PEU and their new TechGod brethren where increasingly, more are one.

Google informed me that I could appeal the decision.  I began the "counter notice" form but was quickly stymied as it required a reference number and none was provided in the e-mail. 

I deleted the introductory photo, which is the only thing that included copyright material.  The post remained hidden from public view.

Google has enabled me to share my thoughts on multiple blogs over the years and for that I am grateful.  But I must say their technology enabled, non-customer service is unparalleled in its complexity and near undecipherability.  

One can see how little information Google shared with me (light yellow boxes) relative to what they provide to Lumen. 

I have no idea how to inform Google that I removed the offending picture which included a portion of copyrighted material (potentially considered fair use for an anonymous, no-revenue blog).  

Why would Google or a London law firm be interested in my post on Jeffrey Epstein and Nicole Junkermann?  I have not a clue.  The post had 299 views, so it was not widely read.

Politicians Red & Blue love PEU and their new TechGod brethren.  Increasingly, more are one and the globe rotates around their axis, maximizing their status, enrichment and pleasure.

Update 8-19-26:  FT noted the rise of the PEU/TechGod class:

Update 8-22-26:  I found a way to submit a "counter notice" informing Google that I had eliminated the offending picture and to please restore the post or inform me of what other copyrighted information remained.  

Batshit TechGods Free Wheeling with Uncle Sam's Backing

The U.S. government once served as a counterbalance to abusive worker treatment.  It now facilitates it.

I watched private equity underwriters (PEU) abuse hospice workers after our takeover by TPG and Welsh Carson Anderson & Stowe.  

Nurses were made salaried and their work hours exploded due to purposeful understaffing, inefficient computer software and hard (unreasonable) productivity targets.  Nurses donated their personal and family time to the corporation in order to complete visit and admission documentation.  

The new "all organization" software (business and clinical) stole mileage reimbursement from workers.  It took hours each week to investigate and correct the shortfall in miles and worked hours. I wrote the Department of Labor in San Antonio.  Crickets.

TechGods took the PEU playbook and ran with it.  They paint a pastoral human future under AI with new free time, everyone having a penthouse and robots doing menial tasks.  

Their present is very different.  Many espouse the Chinese 96 hour workweek and workers are subject to ever changing priorities and irrational management demands.  A Meta worker was recently belittled for asking about the possible return of a former time off benefit called Meta Days.

There is no body of knowledge that they can't ignore or corrupt.  Kalshi's CEO doesn't care about management theory or laws as his gambling site parades around as a "derivatives" play.  

OpenAI's Sam Altman knows "secrets" about all human beings.  All they need to do is "stay busy." This also ignores the tenants of what brings pride in work.  

The model for insane management is Palantir CEO Alex Karp, who has the full throated backing of the U.S. government.  The Pentagon has a $244 million line item simply stating "fund Palantir."

It is a dangerous time with so many powerful people chasing massive returns so cavalierly.  The dangle of an ideal future or the need to beat China is the excuse for them to flout management practices, laws and basic human decency.  

There is no group to hear opposition given politicians Red & Blue love PEU and their new TechGod brethren.  Increasingly, more are one and for that, many suffer.

Lakers Get Quick PEU Flip

ESPN broke the news of Thrive Capital's purchase of Mark Walters' LA Lakers ownership stake.   

SB Nation noted the short time period of Walters' franchise ownership through TWG Global.

Not even 10 full months since Mark Walter officially acquired the franchise, he sold it to Bob Iger and Josh Kushner on Wednesday. If Walter’s purchase of the team was shocking, it’s hard to find a word to describe this transaction. 

 The sale of the team, though, came at the same time as Walter is being investigated by the FBI for loan fraud.

My wise friend had already made this connection:

"What a convenient way to bypass Walters' prosecution by having Bob Iger and Josh Kushner buy a majority stake in the LA Lakers at $12.5 billion valuation. Sometimes you go to jail for violating federal and state regulations, other times you just have to share the bounty.  "JUST - US" is alive and thriving."

Walters may have misrepresented the value of TWG/Guggenheim Partners holdings in a $10 billion investment deal with Mubadala, a Dubai based sovereign wealth fund.

An interesting aside will be the fate of former UVA basketball coach Tony Bennett, known for his ethical principles and squeaky clean image.  The Lakers named Bennett their Draft Advisor. in February 

Walters said he sold because the opportunity came up to flip the team and make a quick $2.5 billion.  Really?  A cash grab outweighed the opportunity to own a rich, storied pro basketball franchise?  

Flashback to his statement in October 2025 at the time of purchase:

The Los Angeles Lakers are one of the most iconic franchises in all of sports, defined by a history of excellence and the relentless pursuit of greatness.  Few teams carry the legacy and global influence of the Lakers, and it’s a privilege to work alongside Jeanie Buss as we maintain that excellence and set the standard for success in this new era, both on and off the court. - Lakers new owner Mark Walter

It was a privilege to briefly and barely work alongside....

This era of greed and the quick flip is brought to you by questionable PEUs and their TechGod brethren.  Both groups' political connections provide regulatory advantage, preferential legal treatment in times of trouble and a tax code all their own.  That deal is not for you.

From "Greatest" to "Greediest"

It was foretold that in the ashes of the greatest generation would rise a class of grifters, conmen and ne'er-do-wells.  Such a time has come to pass, courtesy of elected officials, private equity underwriters (PEU) and TechGods.

A handshake was once one's word, their personal bond.  Entities now have beneficial owners such that the people behind them are unknown.  PEU's can on all sides of a deal, a carnival side show of the multi-armed man in a hall of mirrors, thus giving the impression of being at arm's length in multiple directions simultaneously.

Elections were won by votes based on barnstorming and word of mouth.  The most powerful court in the land negated that practice by awarding money free speech rights.  

Wisdom, knowledge and virtue have been replaced by insolence, sloth and whimsy.  

Christ has been pushed aside for Old Testament Kings.  

Justice turned into "Just Us."

Violence was to be avoided, only a last resort.  Now those in charge look to punch first, seeking an immediate knockout.  

Truth telling was once an obligation of great leaders.  Spin has replaced that, with the greatest fawning aimed at the most powerful.  Mirror, mirror.

Charlatans promise absurd things to divert attention away from their mendacious machinations.  The people are too exhausted trying to get by to challenge any of their nonsense.  The blather floats in the airwaves and bobs around the internet.

Politicians Red & Blue love PEU and their new TechGod brethren.  Increasingly, more are one.  Together they remake the world to fulfill their dark dreams of obscene personal wealth by any means possible.  For that many suffer.

Update 8-13-26:  This post came from these words shared by my wise friend regarding his grandfather.

I think of him and men of his caliber and era often. They believed in the country and sacrificed heavily for it. They were not perfect, of course. But they would never profiteer and betray the principles of the Constitution or their countrymen. 

The current crop of hooligans dishonor their sacrifices and memory. They dismantle what our forefathers defended. Not only do I question their allegiances, but these guys and Trump's crew all dance to the same tune from The Greatest Show on Earth , never enough! 

They do not care what they destroy or who they destroy. Traitorous. I would not be surprised if Palantir CEO Alex Karp Took the playbook from Sheldon Adelson with the news media. Control the data and control the outlets.

Private equity is mankind's "highest calling" according to Carlyle co-founder David Rubenstein.  It is so powerful it has people speaking from the afterlife:

Thus endeth the lesson.

PEU Vultures Circling

Many U.S. voters have worked for an employer that is "sponsored" by private equity.  These voters know the internal distaste from the greed and leverage boys executing their playbook.  PEUs sent jobs offshore.  They often slashed jobs and supply budgets in order to fund deals fees, special dividends and soaring interest expenses.

Private equity underwriters (PEU) long sold their investment wares to public pension funds.  Now they aim to be the one stop shop for most retirement investing needs, 401(k), IRA, retirement annuity, life insurance. etc.

Elected officials, long PEU sponsored themselves (including post public service employment), facilitated this transition.

Many voters are stressed shoppers who regularly experience the impact of higher prices and poorer quality.

Big conglomerates and private equity were buying up "trusted brands and riding that reputation out until it was a husk of what it was". 

"...founders who built brands they love take lucrative offers from big corporations or private equity investors. While they cash in on the decades it took to build their product's brand, the new corporate owners eventually prove they don't have the same emotional investment and are distanced from loyal customers.

"...news industry in the US used to hold corporations more accountable for the quality of their products and service. But consumer-facing business news was decimated when local newspapers disappeared and national news outlets shifted their corporate coverage to focus on investors."

In some cases those PEU investors were their owners. 

The United States has a local journalism crisis, one that is only worsening. Almost 40% of all local newspapers have shut down since 2005, leaving around 50 million Americans with severely diminished access to news and civic information, according to the Medill School’s State of Local News Report 2025. 

At the core of this crisis is the rise of ownership by private-equity firms and corporate chain owners, which are gutting local newspapers.

It's hard to be an educated voter when resources disappear or become conflicted and purposely push a distorted message.  Far more slanted messages are on the way,  intended to get you to put your retirement money in PEU offerings.

Politicians Red & Blue love PEU and their new TechGod brethren.  Increasingly, more are one and frankly, it's killing our federal republic (on top of harming product quality and democracy).

NVIDIA Chip Data Center Financing Goes PEU

Full stack AI infrastructure may soon be an investable asset class and private equity underwriters (PEU) aim to play a big role.  Apollo, Blackstone and KKR will join Brookfield, Goldman Sachs and BlackRock to fund the data center build out.  

KKR may stuff that data center financing into its insurance affiliate, Global Atlantic Financial Group.

References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries.

Global Atlantic Financial Group's products are shown on their website.  They include annuities and pension risk transfer products.

The PEU boys may load up their insurance holdings with risky data center financing.  And who would back those up if they failed?  

Insurance products are state regulated and many states have "guaranty associations" which cover failed products up to a certain limit.  For most states annuities are covered to $250,000, although a few go as high as $500,000.

As for Global Atlantic the fine print on their website states:

Guarantees provided are subject to the financial strength of the issuing insurance company; not guaranteed by any bank or the FDIC. 

This information is written in connection with the promotion or marketing of the matter(s) addressed in this material. The information cannot be used or relied upon for the purpose of avoiding IRS penalties. These materials are not intended to provide tax, accounting or legal advice. As with all matters of a tax or legal nature, you should consult your tax or legal counsel for advice. 

Life insurance products are issued by and all policy benefits are the responsibility of Accordia Life and Annuity Company, 215 10th Street, Des Moines, Iowa. Accordia Life is subsidiary of Global Atlantic Financial Group Limited. 

Annuities are issued by Forethought Life Insurance Company, 10 West Market Street, Suite 2300, Indianapolis, Indiana. Variable annuities are underwritten and distributed by Global Atlantic Distributors, LLC.

Packaging data center debt could produce regularly recurring PEU fees.  

Significant, dedicated pools of capital at attractive rates is the promise to data centers that use NVIDIA chips.  What's the promise to investors, especially those unaware that data center infrastructure debt is backstopping their insurance product?

FDIC bank limits are fairly well known.  State Guaranty limits may need to be as well.   

The boys that helped break the financial system in 2008 and front and center in 2026.  I would not put it past them to do it again.

As for anyone truly protecting the little person, they went AWOL decades ago.  It happened as politicians Red & Blue loved PEU and their new TechGod brethren.  Increasingly, more are one and they know how to further their interests.  Yours?  Not so much.

Update 8-13-26:  Chris Whalen of the Institutional Risk Analyst wrote:

"... there are growing signs of contagion in the insurance sector after years of dubious business practices by insurers controlled by private equity and credit firms."

We believe that the unwind of 777 Partners and the literally hundreds of affiliates involved in this fiasco provides a picture of how the private credit trade is going to end. 

Millions of retirees who depend on life insurance and annuities could be affected by unsound management practices by private credit and equity managers who care only about profits.

Whalen calls it like he sees it, not as PEUs portray it.

Another TechGod Dangle

Meta CEO Mark Zuckerberg committed to building AI super intelligence "with the principles of individual empowerment, invention and balance of power" in a WSJ opinion piece.

Meta's Chief Technology Officer crapped on that vision by hammering an employee who asked about the possible return of a prior time off benefit, Meta Days.  The company offered Meta Days in 2022.  The benefit was a response to overworking staff.

Mark Zuckerberg's yacht was not redirectable when a nearby ship came under duress off the Alaskan coast.  The yacht's crew did not respond to direct hailing calls for assistance.

Recall that TechGods advocate a 96 hour work week to keep up with China.  Also, recall the power that social media put in creeps and criminals hands.  Meta facilitated child predators with its algorithms.

TechGods copied the private equity underwriter (PEU) playbook which leverages capital and political power for obscene profits.  Affiliate employees are simply purchased and divested, garning benefit cuts and layoffs along the way.  

I worked for a healthcare company acquired by two PEUs.  They quickly eliminated half the office staff, cut our floating holiday and reduced holiday pay.  It happened three years before Meta Days disappeared.  I am not alone:

Big conglomerates and private equity were buying up "trusted brands and riding that reputation out until it was a husk of what it was."  

...founders who built brands they love take lucrative offers from big corporations or private equity investors.  

Americans are finding that the quality of many once-beloved name brands is declining (from) ...relentless pressure to increase profits that intrinsically erodes product quality.

Workers know the deal does not favor them, as do voters.  That's because politicians Red & Blue love PEU and their new TechGod brethren.  Increasingly, more are one.  

LIV Golf's Saudi Wind-down

The Athletic reported:

President Donald Trump and PIF Governor Yasir Al-Rumayyan were together before the final round of LIV Golf’s event at Trump National Bedminster on Sunday.

The Saudi sovereign wealth fund pulled out of LIV Golf, "golf but louder", after Trump II attacked Iran alongside Israel in a war of choice.  The conflict began February 28, 2026.  Saudi Public Investment Fund (PIF) withdrew future support for LIV in April.

“The substantial investment required by LIV Golf over a longer term is no longer consistent with the current phase of PIF’s investment strategy. This decision has been made in light of PIF’s investment priorities and current macro dynamics.".

LIV Golf has been a frequent user of Trump golf courses for its professional golf tournaments.  A number of Trump family members were at Bedminster over the weekend.  Ivanka and Eric showed up in pictures.  

Was Al-Rumayyan there for a future PIF investments in Trump II's or one of his kids' projects?  Ivanka is working on an Albanian luxury resort that surely needs capital.

The Saudi SWF Chief may have been there to wrap up PIF's involvement with LIV Golf.

PIF was considering paying off remaining player contracts to settle any potential liability. Multiple players, most notably Jon Rahm, could be convinced to stay with LIV and be given equity in “LIV 2.0” as a result.

Al-Rumayyan may have been there to sell their Saudi equity stake for pennies on the dollar.

As for Trump II's other ventures, there has been much news from his Truth Social company.  A Trump Media and Technology Group press release (of an FT article) stated:

Trump calls Truth Social “his typewriter”, according to the 53-year-old CEO Kevin McGurn.

Trump II's presidential words are being sold for preferential access.  Trump previously called Twitter "his typewriter", while his "human printer" is White House aide Natalie Harp.

McGurn said there are now 10 customers, mostly high frequency traders, (press release of an Axios article).  Are all ten paying $100,000 a month for the service?  

McGurn also said he sees these initiatives:

"becoming a core part of Trump’s business portfolio after the 2028 election when its poster-in-chief stands down."

They've designed an exclusive service and their defense to unfair access to market moving insider information is:

" let the internet and the packet delivery take care of itself."

These people are shameless.  

Trump Media reached a confidential settlement with original DWAC investors Patrick Orlando and ARC Global Investments II.  A 2024 lawsuit challenged the conversion rate of Class B shares.  

"all claims between and among individuals and entities including Trump Media, Patrick Orlando, and ARC Global Investments II LLC have been mutually resolved pursuant to a confidential settlement agreement."

Sometimes the shameless fight amongst themselves.

Update 8-19-26:  Golf Digest reported as LIV Golf limps toward the early end of its season:

The financial uncertainty traces to April, when Saudi Arabia's Public Investment Fund abruptly withdrew its support. Yasir Al-Rumayyan—the PIF governor, architect of LIV Golf and then-chairman of the league's board—stepped down at the same time. PIF had unveiled its strategy for 2026 through 2030, signaling a shift toward domestic priorities as the kingdom confronts mounting commitments tied to World Expo 2030 and the 2034 FIFA World Cup. The war with Iran added to those pressures, with the closure of the Strait of Hormuz cutting Saudi oil exports nearly in half. LIV was conspicuously absent from PIF's stated plans. By then, the fund was believed to have poured between $6 billion and $8 billion into the league.

The Saudis will have to find another way to funnel money to Trump II, that is if they want to keep supporting his wealth expansion.

Ticketing the StubHub TicketMan

Barchart reported:

Baker isn’t only the CEO of StubHub. He’s also the co-manager of a ticket-focused investment fund that buys tickets in bulk and resells them through platforms like StubHub. According to lawmakers, that means institutional ticket resellers are getting a huge advantage and further inflating the costs of an industry that already feels like it’s stacked against ordinary fans.

Stubhub disclosed related party transactions in December 2025: 

Andro Capital (“Andro”) is a seller on the Company’s platform and, in the normal course of business, has engaged the Company to list, price and fulfill its tickets on its behalf. The Company’s CEO has an ownership stake in both the Company and Andro. The Company generated fee revenue from tickets sold by Andro of zero during the years ended December 31, 2025 and 2024 and $0.1 million during the year ended December 31, 2023. As of December 31, 2025 and 2024, $0.1 million was due to Andro in proceeds related to tickets it had sold on the Company’s platform. 

On July 17, 2024, the Company entered into a program agreement (as amended or supplemented from time to time, the “Program Agreement”) with Colloquy Capital LLC (“Colloquy”), an affiliate of Andro. Under the terms of the Program Agreement, the Company refers certain sellers to Colloquy for the opportunity to enter into separate financing arrangements with Colloquy. Under such arrangements, it is anticipated that Colloquy may provide short-term financing to sellers based on those sellers’ existing and/or future expected proceeds generated through ticket sales on the Company's platform. Pursuant to each seller’s agreement with Colloquy, the Company will disburse to Colloquy a percentage of the seller’s proceeds as agreed upon as consideration for the financing provided by Colloquy to the relevant seller. No fees are payable under this agreement by the Company or Colloquy. As of December 31, 2025 and 2024, the Program Agreement resulted in Colloquy obtaining a security interest of $7.9 million and $0.1 million in the seller's proceeds related to tickets sold on the Company's platform, respectively. On March 20, 2025, the Company entered into a separate services agreement with Colloquy, pursuant to which the Company helps facilitate the sale and servicing of tickets owned by Colloquy in return for a fee based on a percentage of revenue collected for the sale of those tickets. Under both agreements with Colloquy, as of December 31, 2025 and 2024, $0.8 million and $0.1 million, respectively, was due to Colloquy in proceeds, related to tickets sold under the services agreement as well as the Company's disbursement of the seller's proceeds under the Program Agreement. The Company generated $3.2 million during the year ended December 31, 2025 and zero during the years ended December 31, 2024 and 2023 in fees associated with the services agreement.

Conflicts of interest are business du jour so it should be no surprise that Stubhub's CEO Eric Baker found multiple ways of cashing in.  If private equity underwriters can be on all sides of a deal, so can Mr. Baker, a former Bain Capital staffer.  

Baker was ably assisted by Declaration Partners, the family office of Carlyle Group co-founder David Rubenstein.  

In early 2020:

Declaration Partners formed a private equity syndication fund, Declaration Partners Opportunity II. All capital commitments were fully funded at closing and were used by Declaration to participate in a minority investment in Viagogo’s acquisition of StubHub

Declaration cashed out of StubHub after the IPO.  I'm sure Mr. Rubenstein was well aware of Mr. Baker's blatant conflicts of interest and possibly admired his ability to squeeze more ka-ching out of every transaction.  

Can anyone say pre-emptive pardon for this Baker boy?  Politicians Red & Blue love PEU and their new TechGod brethren.  Increasingly, more are one.  

Update 8-13-26:  StubHub pulled out their checkbook to lobby against a California proposal to limit markups on ticket sales.  David Rubenstein is no longer a major holder, thus StubHub can't use his non-lobbying political connections to influence legislative outcomes.

Government of, by and for the TechGod

Western TechGods inhabit a unique position according to a Silicon Valley journalist.   

....outlining the connections between these men (and it is all men) and the origins of their often deeply weird beliefs, many of which view everyone outside their circle or opposed to their agenda as expendable.

They are the landed white men of our time and happen to have billions, if not trillions in wealth.   A paralyzed and conflicted political system already ceded power to private equity underwriters (PEU) over the last two decades.  It is wholly incapable of dealing with TechGods given their wanton illegal business models (intellectual property theft), casting aside of drug laws (ketamine) and ability to provide overwhelming financial sponsorship for candidates.

TechGods noticed and copied the PEU playbook with searing and audacious adaptations.  They were ably coached by fellow TechGod J.D. Vance, albeit a junior version in Silicon Valley as well as the White House.

These former libertarians make huge bank off Uncle Sam's wallet and believe they can manage a country better than elected officials or paid bureaucrats.  They occupy multiple full time jobs, skating in and out of CEO, board, advisory and other ownership roles.  

Under management theory they have the skill of Chris Farley on ice skates, yet they own the rink, the building, the block and the city.  They desire no feedback on their performance as they have no peers.  

TechGods are superior in every way and they believe they have to design the future, even if it means taking away rights and turning citizens into rats pressing a bar for a piece of cheese or to avoid an electric shock.  

I removed a reference to TechGods giving payback to jocks and the high school "in crowd" as part of Palantir CEO Alex Karp's disdain of sales people.  What did not fit yesterday finds a home today in The Nerd Reich: Silicon Valley Fascism and the War on Democracy.  

My wise friend noted:

Every time a pension fund buys a stock in an ETF that forces valuations higher, benefiting each of the fellows in the article.  That  ever increasing wealth gives them the fuel to light democracy as we know it.  They use the market mechanism to destroy the public and enhance their security.

Politicians Red & Blue love PEU and their new TechGod brethren.  Increasingly, more are one and the average citizen hates the whole stinking lot.

Update 8-19-26:  A civil trial is underway regarding Meta's predatory design of its products for children.

TechGod Derides Sales Unit

Palantir's Alex Karp attacked his own salespeople yet again in "another case of Palantir ignoring the norms of growing a business."  Long ago Palantir ignored the first rule of business, hiring a sane chief executive.  

Karp's language is so pristinely structured that customers want his products without salespeople. He mostly sells to Uncle Sam and corporate chiefs fearful of missing out on the AI tech imperative.  

Panic can go both ways.  Sales in, sales out (like AI's garbage in, garbage out).

TechGods hate feedback from customers. which is why they structure things so as not to receive it.  But they dislike it even more from underlings.  Take this recent Glassdoor review of Palantir:

Extensive track history of not paying earned sales commission. Karp is open and very public with is disdain for sales. This is felt everyday and the BU is treated as 2nd class citizen. 

Culture is horrendous. Shadow hierarchy, back stabbing, split commissions, and extreme arrogance.

Karp is a role model for shitty, self enriching leadership, so widespread in the halls of government and executive suites of its billionaire sponsors (private equity underwriters (PEU)/and their TechGod brethren).  

You can have "few salespeople" when the game has but a few players enacting "the plan" which you helped craft over decades.  Karp has been a long serving member of the Bilderberg Steering Committee, which also employed Palantir's products.  It's a nice gig when global tamperers help you with product development.

Update 8-5-26:  Karp continued his insult tour by calling frontier AI models "Marxist" and saying they think they "deserve to colonize your enterprise", as well as those labs are "trying to drug addict us."

PEU Life of Walter, Mark

FindLaw reported:

Prosecutors in Manhattan and the SEC are now investigating Delaware Life, Clear Spring, and Guggenheim’s asset‑management arm, including how private‑credit investments tied to Walter’s broader business empire were disclosed and how Guggenheim represented its revenue.

Guggenheim Partners' website states "it conducts its operations with the highest legal and ethica standards."

The issue is a common one for private equity underwriters (PEU), related party transactions which are supposed to be arm's length and disclosure can be required.  Some deals are more of a bear hug (not arm's length) and disclosures inaccurate (from lying).

In response to subps sent to Delaware Life and Clear Spring in February, the insurers say they reviewed their books and found reporting errors in how billions in private‑credit investments backing other parts of Walter’s business empire had been classified. Delaware Life had previously told regulators that about 3 percent of its portfolio was invested in Walter‑linked companies; after re‑checking, it disclosed that related‑party investments were actually at least $17 billion (around 39 percent of its total invested assets), meaning a much larger portion of its book was tied to affiliated entities than regulators had been told.

That's a 1.200% miss for Delaware Life.

Walter’s holding company, TWG Global, links his sports teams with his insurance and asset‑management businesses. It has acknowledged the investigation and says it is cooperating, while the parent of Delaware Life and Clear Spring maintains that its capital and liquidity remain strong.

PEUReport wrote about TWG's purchase of the Lakers in June 2025.  Private equity targeted sports in a big way in the last two years and I speculated about UVA basketball coach Tony Bennett's possible involvements after he stepped down from that job.  

PEUs are all about incentives, do this to get that, money, power, political influence. I can't think of a worse next job for Tony Bennett than employment with the greed and leverage boys. However, that is the tidal wave getting ready to engulf college athletics. They need someone like Tony. The question is does Tony need them?

The Lakers hired Bennett in February.  It's clear Mark Walter needs to raise the ethical bar.

The likely banquet of non-consequences will be served up to Walter by U.S. political leaders as politicians Red & Blue love PEU and their new TechGod brethren and increasingly, more are one.

Note:  TWG Global did a deal with xAI and Palantir so it even has a bit of a TechGod flair.  Add a sovereign wealth fund cap to TWG with its investment arrangement with Mubadala Capital.  That's a lot of get out of jail free cards.

Also, Chris Whalen of the Institutional Risk Analyst  noted problems with PEU owned life insurers.

The American Prospect noted the intersection of private equity, private credit, life insurance companies and AI.  

Add not properly funded reinsurance from offshore insurers (PEU owned) and it seems capital serves every link in the chain except the annuity/policy holder.

Take one private credit fund from Jeffries:

...the fund presented exposure to Walmart Inc. and AutoZone Inc., when it was actually holding invoices those companies owed to First Brands.

...told investors its two biggest exposures were to Glencore Plc and Cargill Inc., when in reality those were invoices owed to Radiant World

First Brands blew up and Radiant World is currently leaking badly.  

The Carlyle Group taught us such things are defensible as puffery.

Update 8-12-26:  Lo and behold, Mark Walter plans to sell the LA Lakers to Thrive Capital for a record $12.5 billion.  Tony Bennett may have to polish the reputations of new owners Josh Kushner and Bob Iger.  

The hypotenuse of private equity rises from its roots in greed and leverage, reaching its apex from political connections and an absence of ethics.