Bits + Bips

With European gas prices running 50-70% above normal, Steven Ehrlich sits down with Sean Murray, Head of Special Projects and Crypto Lead at Fuse Energy, to map the cascade: why gas, not oil, drives what consumers pay for electricity; how the Strait of Hormuz closure and the attack on Qatar's LNG processing facility are rippling through fertilizers, jet fuel, and copper markets; and why Sean argues the long-term supply disruption is being badly underpriced by markets worldwide. Multi-billion dollar facilities don't come back in months. This clip is from a longer conversation on energy markets, DePIN, and Fuse Energy's token launch on Solana. Full episode here: https://youtu.be/RMXJsFT15UA We go live every Monday at 4:30 PM ET — subscribe to catch it live.

Jeff Bezos is raising $100 billion for Project Prometheus to acquire manufacturing companies and transform them with AI. Mark Zuckerberg is building a personal AI CEO agent to bypass management layers at Meta. The question: where does AI value actually accrue? Ram Ahluwalia argues the consumer wins. Venture capital is subsidizing the real economy through tools like Claude that lose money but deliver massive productivity gains. Chris Perkins says people are resilient and will adapt the way influencers emerged from the internet era. The conversation takes a darker turn when Ram warns that declining birth rates combined with cheap robots lower the cost of conflict. When soldiers cost $8,000 at scale, the calculus for war changes entirely. This clip is from a longer conversation on Iran, the Fed, and AI. Full episode here: https://www.youtube.com/live/8Pr-oa4N0Bo?si=rfIKIOHRIjYQSWIh Follow @bitsandbips

Elon Musk announced TeraFab, a $25 billion joint chip fabrication venture between Tesla, SpaceX, and xAI targeting two-nanometer process technology. Ram Ahluwalia calls the entire thing bullshit. TSM has invested hundreds of billions to build chip fabs. Tesla generates $3-6 billion in free cash flow. The math doesn’t work without massive dilution. Jensen Huang himself has said data centers in space don’t make sense. Meanwhile Chris Perkins argues that AI layoffs across crypto and tech are a “beautiful excuse” for companies that need to restructure. Ram counters that net engineers are actually being hired, and the companies cutting the most are spending the most on Nvidia GPUs. This clip is from a longer conversation on Iran, the Fed, and AI. Full episode here: https://www.youtube.com/live/8Pr-oa4N0Bo?si=WWmYw2LcxkOS9DAV Follow @bitsandbips

Coinbase x402 has processed $34M. Tempo just launched its mainnet. Steven and Laurens discuss how the agentic commerce war is shaping up, why stablecoins are the infrastructure layer underneath it, how to tell real adoption from inflated metrics, and what happens when AI agents start getting scammed.

Ram calls industrials a bubble that's already popped — Caterpillar at 35x PE, hedge funds still deleveraging, and no real capitulation yet. Austin and Chris push back.

General Spider Marks has a brother-in-law who's Iranian — and what he says about why 93 million Persians won't rise up should reframe how investors are reading this war.

A retired U.S. Major General just explained why Iran's navy is at the bottom of the Gulf — and why the Strait of Hormuz was never actually at risk.

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