TheBitCast

Your Twenty Dollar Employee Is Running On Borrowed Money

Podcast: AI Breakdown ยท Varun Sirohi

Opublikowano: 2026-10-06

๐€๐ง๐ญ๐ก๐ซ๐จ๐ฉ๐ข๐œ ๐ญ๐ฎ๐ซ๐ง๐ž๐ ๐ฌ๐ฅ๐ข๐ ๐ก๐ญ๐ฅ๐ฒ ๐ฉ๐ซ๐จ๐Ÿ๐ข๐ญ๐š๐›๐ฅ๐ž, ๐š๐ง๐ ๐ข๐ญ๐ฌ ๐›๐š๐ง๐ค๐ž๐ซ๐ฌ ๐ ๐จ๐ญ ๐ฆ๐จ๐ซ๐ž ๐ง๐ž๐ซ๐ฏ๐จ๐ฎ๐ฌ, ๐ง๐จ๐ญ ๐ฅ๐ž๐ฌ๐ฌ. ๐“๐ก๐ž ๐ˆ๐๐Ž ๐ฌ๐ฅ๐ข๐ฉ๐ฉ๐ž๐ ๐ญ๐จ ๐๐จ๐ฏ๐ž๐ฆ๐›๐ž๐ซ. ๐Ÿ˜ณ A former Nasdaq executive said the listing went from a no brainer to not a no brainer. When a business improves and the appetite shrinks, the market has stopped pricing the company and started pricing the thing underneath it. This week on ๐“๐ก๐ž ๐€๐ˆ ๐๐ซ๐ž๐š๐ค๐๐จ๐ฐ๐ง: ๐“๐ก๐ž $๐Ÿ๐ŸŽ ๐„๐ฆ๐ฉ๐ฅ๐จ๐ฒ๐ž๐ž. The thing underneath it is debt. The cheap tokens on your desk are paid for with borrowed money, and the lenders started asking for more. Nothing this week made the tool worse. The risk is that the price stops falling, or quietly stops being twenty dollars. Inside the episode: ๐Ÿ”ด A data centre's bonds issued at ๐Ÿ–.๐Ÿ—% in August now trade at ๐Ÿ๐Ÿ.๐Ÿ‘% ๐Ÿ”ด Oracle debt quoted as low as 89 cents on the dollar against 18 billion of exposure ๐Ÿ”ด Meta's first junk bond: 2.3 billion, borrowing like a company in difficulty Your move: open what you spend on AI and write next to each line what you would do if...