#semafor — Wealth & Means

Episodes tagged #semafor on Wealth & Means.

Everyone's Watching the Wrong Object — 2026-08-22
We keep staring at the object: the model, the robot, the gold bar, the tradition, the headline. Almost every story in this episode says the same quiet thing back — that's not where the value went. A capable AI model now fits on a graphics card you could buy at a mall, while the switchboard that decides which model gets the job sold for more than seven billion dollars. A public company discovered it can rent robots instead of selling them. A media company found that half its revenue comes from the room, not the reporting. And a rare-earth ticker moved before anybody could explain why. Then we look ahead to Jackson Hole, a new Fed chair's first keynote, personal consumption data, a GDP revision, Nvidia earnings, a trillion-dollar filing on a fifteen-day clock, and a sanctions bill whose real consequence may land in Indian refining margins.

#semafor — Wealth & Means

Episodes tagged #semafor on Wealth & Means.

Everyone's Watching the Wrong Object — 2026-08-22
We keep staring at the object: the model, the robot, the gold bar, the tradition, the headline. Almost every story in this episode says the same quiet thing back — that's not where the value went. A capable AI model now fits on a graphics card you could buy at a mall, while the switchboard that decides which model gets the job sold for more than seven billion dollars. A public company discovered it can rent robots instead of selling them. A media company found that half its revenue comes from the room, not the reporting. And a rare-earth ticker moved before anybody could explain why. Then we look ahead to Jackson Hole, a new Fed chair's first keynote, personal consumption data, a GDP revision, Nvidia earnings, a trillion-dollar filing on a fifteen-day clock, and a sanctions bill whose real consequence may land in Indian refining margins.