On TCAF this week Josh and Michael spoke with Ed Elson, co-host of the Prof G Markets podcast. They discussed the massive AI spending boom and whether we’re in an AI bubble, the race between OpenAI and Anthropic, sky-high private market valuations, Waymo and the future of autonomous driving, the growing divide between young Americans and previous generations, housing affordability, sports betting and financial nihilism, and what it will take to give Gen Z a better shot at building wealth. (Listen)

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A lot has been made about weakening stock market breadth. One way to measure this is new lows. Matt Cerminaro at Chart Kid Matt shows that by some measures breadth is weakening. He goes on to show that new lows are not happening in the market’s most important sectors: technology and financials.

A new Compound-Tropical Bros. collab just dropped. The Compound x Tropical Bros. Par-Tee Polo brings together everything we love about the game and the island lifestyle. Featuring a clean white backdrop with palm trees, golf clubs, golf balls, and The Compound logos throughout, this polo is built to stand out. A women’s version is available as well!

Next week on TCAF, Josh and Michael will speak with returning guest Jurrien Timmer, Director of Global Macro at Fidelity Investments.