This week on The Higher Standard, we break down hotter inflation, Warsh’s awkward Fed handoff, housing cracks, rising delinquencies, and why “resilient economy” may be the new “transitory.” Then we get into the big one: AI may be destroying the moat that terminal valuations are built on. If innovation moves so fast that no company can confidently project cash flows five to ten years out, venture capital math starts looking less like investing and more like praying with a spreadsheet. Also, apologies in advance: we had to silence the Big Boi interview with Kid Cudi due to a copyright restriction, which is tragic because Big Boi talking Pokémon deserved its own emergency Fed meeting.
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🔗 Resources:
Awkward! Kevin Warsh May Hike Interest Rates as Fed Chair, Not Cut Them (247 WallSt)
Zillow now expects 309 of 894 U.S. metro housing markets to see price declines by 2027 (Chris Naghibi via X )
13.1% of credit card balances in the US are now 90+ days delinquent, the highest since 2011 (Charlie Bilello via X)
The Death of Terminal Value — AI Disruption Repricing Framework (Chamath Palihapitiya via X)
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