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Annemcx

@annemcx.bsky.social
540 followers 546 following 604 posts

Ceramic artist living in Cornwall UK. Previously digital business design, data strategy, quantified organisation. Likes firing synapses. More at annemccrossan.com

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Annemcx @annemcx.bsky.social · 09/10/2026
Something something trump diesel russian asset
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Ed Zitron @edzitron.com · 06/10/2026
Microsoft, Google, Amazon and Oracle's entire future growth stories depend on Anthropic and OpenAI being able to pay them $500bn+ in the next three years, and Broadcom has existentially tied itself to $161bn in Anthropic leases. This is not sustainable. www.wheresyoured.at/credit-crunch/
While Anthropic and OpenAI are yet to pillory the debt markets, their counterparties — and those inspired by them — have been doing so for years with little or no return on investment.

As I discussed a few weeks ago, there are currently over $200 billion of NVIDIA GPUs sitting uninstalled in warehouses, with Morgan Stanley (as found by Bryce Elder of the FT) estimating that more than half of GPUs sold in 2026 through 2028 won’t have anywhere to plug in. Hundreds of billions of dollars have been spent on data center capex for effectively no reason, outside of the belief that there’s “insatiable demand for AI compute” when the reality is that more than 70% of all AI revenues — and I estimate more than 80% of all compute sales — are from Anthropic and OpenAI taking up whatever capacity comes online, leaving very little left for the rest of the world and creating the illusion of massive demand.

Both of these companies want to dump themselves onto the public markets, raise tens of billions of dollars of debt a year, and dump further shares onto unsuspecting investors based on unrealistic revenue projections of hundreds of billions of dollars a year by 2028. Both OpenAI and Anthropic are astonishingly bad businesses, losing $20.92 billion and $8 billion respectively in 2025. The best response that anyone has got to these shocking figures is to vaguely point to adjusted profitability numbers provided by companies that have constantly shared deceptive annualized run rate figures as a means of obfuscating their financial condition.And these companies account for, per their own obligations, $1.3 trillion of future earnings across Microsoft, Google, SpaceX, Oracle, and Amazon, with $413 billion of Anthropic’s commitments being non-cancellable, and OpenAI projecting to spend at least $750 billion on compute through the end of 2030, with no answer as to how these companies afford to do so. 

Analyst expectations have OpenAI and Anthropic contributing at least $444 billion in revenue across hyperscalers in the next three years, and if this revenue fails to arrive — either through insolvency or renegotiation of terms — every connected hyperscaler will see massive revenue misses. These are not hyperbolic, mean-hearted or “skeptical” claims, but the hard mathematics underlying an industry that so often convinces those supposedly analyzing it to ignore good sense and assume that nothing bad will ever happen.Then there’s the shocking deterioration of semiconductor firm Broadcom, which is tied to Anthropic for at least $161 billion in non-cancelable chip leases, which has in turn forced Broadcom to raise $60 billion in debt to build them. Broadcom is, as covered in my Premium Hater’s Guide, a company already bathed in debt thanks to its 2023 acquisition of VMware, one that appears to be taking on tens of billions more as a means of selling TPUs to a company that may or may not exist by the time there’s a data center to put them in.

How, exactly, is Anthropic meant to pay for all of those compute leases (or all of that compute) based on its current financial position? Taking away however I may feel about AI in general, for it to reach a size where it can handle even a hundred billion dollars a year in annual operating expenses — Microsoft, by comparison, is at around $176 billion — Anthropic would have to become one of the single-largest cash generators in the history of capitalism, or such a large participant in the world’s debt markets that it starts sucking up cash from the already-distressed and desperate customers of the CCC (lowest tier of junk) bond market.
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Annemcx @annemcx.bsky.social · 28/09/2026
Rachel, that’s why I make what I do. We are makers, not consumption units.
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Annemcx @annemcx.bsky.social · 28/09/2026
I think there will be casualties, I have no idea to what degree. As with climate casualties. We are headed towards turbulent times.
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Annemcx @annemcx.bsky.social · 28/09/2026
The church created massive norms around the way and on what basis people connect, so did Pharoahs, so have big brands(Coke). I don’t expect this to change. People buy into stories, sometimes quite stupidly. I just hope we drop the idea of winning races and focus on outcomes.
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Annemcx @annemcx.bsky.social · 28/09/2026
Absolutely. But that ship has sailed.
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Annemcx @annemcx.bsky.social · 28/09/2026
Maybe it’s naive to say this, but I was interested in Xi’s take on it - that it’s not about winning or losing the AI race, it’s about everyone realising the benefit of elevating humanity through it.
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Annemcx @annemcx.bsky.social · 28/09/2026
The whole AI horizon seems as scary as hell rn imo, this is maybe the least scary out of all the scaries, but I get your point. Lowest common denominator thinking may well be our collective undoing.
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Annemcx @annemcx.bsky.social · 27/09/2026
Have you seen this Naomi? It’s the one thing I’ve read in years that really could be an alternative way forward. institute.deepmind.com/essays/artif...
institute.deepmind.com
Artificial symbiotic intelligence: Agents, AGI and the orchestration of many minds
AGI may arrive not as a single general-purpose mind, but rather through societies of agents whose collective capacities exceed those of any one model. We must learn how to orchestrate, govern, and liv...
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Naomi Klein @naomiaklein.bsky.social · 27/09/2026
I just saw a film about the AI-enabled apocalypse. Only it's not science fiction. It's not even in the future. It's in the present. The film is called NAZA. See it. @theguardian.com @us.theguardian.com youtu.be/98xLCdc7t7E
youtu.be
Apocalypse is here
YouTube video by Naomi Klein
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In Otter News @in-otter-news.bsky.social · 26/09/2026
After a long day at the aquarium, the otters help tidy their toys away. Payment is made promptly and entirely in ice cubes.
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Annemcx @annemcx.bsky.social · 27/09/2026
Maybe, but it’s made by a total weirdo who can’t keep his nose out of people’s business.
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Annemcx @annemcx.bsky.social · 27/09/2026
@rhappe.bsky.social in case you haven’t seen it yet. A point of view like this gives me hope.
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Annemcx @annemcx.bsky.social · 27/09/2026
This. This is the most important thing. institute.deepmind.com/essays/artif...
institute.deepmind.com
Artificial symbiotic intelligence: Agents, AGI and the orchestration of many minds
AGI may arrive not as a single general-purpose mind, but rather through societies of agents whose collective capacities exceed those of any one model. We must learn how to orchestrate, govern, and liv...
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Micah @rincewind.run · 26/09/2026
you know what? I agree with him my moral and ethical story about how we live together in this moment is we throw all of these assholes out of office and then we put them in jail
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Annemcx @annemcx.bsky.social · 26/09/2026
Barbra Streisand the heck out of this.
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Annemcx @annemcx.bsky.social · 26/09/2026
‘The company did not learn until recently’ ? Well that’s encouraging.
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Katie Martin @katie0martin.ft.com · 25/09/2026
I have blamed The agents That hacked Your website And which You probably Reasonably thought I controlled Forgive me I am rich And unaccustomed To taking responsibility
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Annemcx @annemcx.bsky.social · 26/09/2026
Beautifully written and insightful. And I think digital life curation gives us all an opportunity to tell our stories. www.theguardian.com/commentisfre...
theguardian.com
The makers of the 7 Up series set out to prove a point about class. What they achieved is far more profound | Jonathan Freedland
The epic documentary series reveals much about the shifting social attitudes of the last 60 years – and much more about the quiet mystery of human life, says Guardian columnist Jonathan Freedland
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Annemcx @annemcx.bsky.social · 25/09/2026
Jeez MZ is the biggest reason I would never touch one of his creepy products.
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Annemcx @annemcx.bsky.social · 22/09/2026
When you’re the actual brother of the woman who actually died and left two sons without a mother who were left struggling to deal with the public glare and private palace politics, feel free to comment. You’re not though and your arrogance is ridiculous.
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Annemcx @annemcx.bsky.social · 22/09/2026
Exactly 👍
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Annemcx @annemcx.bsky.social · 22/09/2026
That Piers Morgan, the one who’s big buddies with Camilla? Hmmm 🤔
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Annemcx @annemcx.bsky.social · 22/09/2026
First, Brexit hasn’t worked and second, it was delivered by Russian agents, that’s the point that matters to me here.
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Nicholas A. Christakis @nachristakis.bsky.social · 24/08/2026
Social contagion is relevant to phenomena as diverse as public goods production, inequality, technology adoption, economic productivity, political mobilization, misinformation, violence, emotional experience, health behavior, and epidemic disease. 19/
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Annemcx @annemcx.bsky.social · 22/09/2026
It’s certainly my response. Are humans going to continue to be makers on a march of progress, or are we becoming consumption units?
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Annemcx @annemcx.bsky.social · 21/09/2026
Or Gen Z.
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Annemcx @annemcx.bsky.social · 19/09/2026
In years to come I hope we’ll look back and realise how badly young people today have been failed. The lack of housing, employment and educational and environmental security they have is verging on criminal.
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Annemcx @annemcx.bsky.social · 19/09/2026
A tax resident of Monaco has absolutely zero right to comment on the socioeconomic state of the UK. I have no fucks to give about him or his sense of entitlement. #hypocriticalpos www.bbc.co.uk/news/article...
bbc.co.uk
Billionaire Manchester United owner Sir Jim Ratcliffe says he has lost confidence in UK
Ineos founder Sir Jim Ratcliffe tells the BBC he thinks the country is "on the slide" and calls for more investment in the North Sea.
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Hassinator @hassinator.bsky.social · 13/09/2026
a great letter in the times today. perhaps worth sharing in these troubled times. #RNLI #heroes
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Dan Primack @danprimack.bsky.social · 11/09/2026
I don't know if AI is going to destroy humanity. Neither do you. But here's what I do know: It's very difficult to have a sober conversation about this when there's so much money at stake. www.axios.com/2026/09/11/d...
axios.com
Dollars and doomers in the AI safety debate
It's hard to have a sober conversation when there's so much money at stake.
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Naomi Klein @naomiaklein.bsky.social · 13/09/2026
First excerpt from End Times Fascism! So happy The Guardian went for the part of the book about the wonder of THIS world, and the people doing everything to commit to it. www.theguardian.com/us-news/ng-i...
theguardian.com
The end times fascists are plotting their escape from our world. Our mission is clear
An unholy alliance is working toward an apocalyptic future from which only a chosen few will emerge unscathed. It’s becoming clear how we stop them
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Annemcx @annemcx.bsky.social · 13/09/2026
I hope one day these billionaires and others like them, who willingly step on the heads of others to get rich, are seen as socially dysfunctional. In a connected world we need to be able to live together, and not flushed down the pan by a few oligarchs.
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Annemcx @annemcx.bsky.social · 13/09/2026
A £72 million pound bung totally disregards any idea of democracy. How can it be two rich men get to play rotten boroughs with our country?
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Annemcx @annemcx.bsky.social · 13/09/2026
‘They would genuinely rather reign in hell than share in heaven. And they have all the money to make sure they get there’ www.theguardian.com/books/2026/s...
theguardian.com
Naomi Klein: ‘Extreme wealth has a deranging effect. It turns you into a supremacist’
She’s tackled neoliberalism and the digital world, now the writer and activist is taking on tech billionaires. She explains how the super-rich are capitalising on climate and financial chaos in pursui...
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Annemcx @annemcx.bsky.social · 12/09/2026
Straightforward bribery www.bbc.co.uk/news/article...
bbc.co.uk
Ben Delo: Reform receives record £36m donation from cryptocurrency billionaire
Ben Delo's donation, the biggest single sum ever given to a political party in the UK, comes amid scrutiny of Reform's finances.
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Benjamin Riley @benjaminjriley.bsky.social · 11/09/2026
This essay is brilliant and everyone should read it. When you're done, might I persuade you to then read my interview of @melaniemitchell.bsky.social from earlier this year, wherein she talks about the history of AI, cultural and embodied cognition, Oliver Sacks, and AI agents? More brilliance.
buildcognitiveresonance.substack.com
Reflections on AI from Melanie Mitchell, thinking human
My conversation with one of AI's "OG" researchers and theorists
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Annemcx @annemcx.bsky.social · 11/09/2026
Seems about right. From @theguardian.com
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Alejandra Caraballo @esqueer.net · 09/09/2026
The alarms are all flashing red.
Screenshot of a thread on X by user Jacob Coxon (@hilbertspaess) detailing his resignation from Anthropic.
​The first post reads: "I resigned from Anthropic today. I spent the last three years doing pretraining research at both OpenAI and Anthropic. Neither company is acting responsibly. They are racing straight to self-improving superintelligence and gambling with our lives. More thoughts below."
​The second post reads: "Do not underestimate the power of this technology. These will soon be superhuman systems that can hack anything, revolutionize any field overnight, and acquire real power and resources. We have all witnessed the progress in each of these domains, and progress is not slowing."
​The third post reads: "The people building AI earnestly believe that it could kill us all by the end of the decade. This is not a marketing stunt. If anything, many executives and senior researchers will couch their phrasing in the press to sound sensible - but I hear the same people express fear privately. No other human activity poses this level of danger."Screenshot continuing the thread on X by Jacob Coxon (@hilbertspaess).
​The first post reads: "A common response is 'if they truly believe this, why are they still building it?' At OpenAI, many have not deeply internalized the civilizational stakes. At Anthropic, the stakes are well-understood, but they are locked in a race to get there first - they believe no one else will act responsibly, so they must do it themselves, despite the risk."
​The second post reads: "Accepting this race and entering the 'endgame' is a hubristic gamble that should not be launched from a private company's Slack. Attempting to speedrun alignment should require extraordinary confidence that there are no better trajectories available."
​The third post reads: "I am optimistic about the potential for coordination. Warning shots like the Hugging Face attack have made pacing agreements between U.S. labs more viable. I don’t feel like we’re on track to prevent a global race, which may require costly actions such as a temporary ban on improving model capabilities."
​The fourth post reads: "If you are a lab researcher, I urge you to consider what the next few years will actually feel like. Do you want to kick off a superintelligent RL run without a rigorous understanding of its mind? Should you put your head down because 'it’s happening anyway' - or take this moment to call for different conditions?"
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Annemcx @annemcx.bsky.social · 09/09/2026
Kudos to @Channel4 for blowing this open. We know Reform is full of crypto criminals and horrendous bigotry and it’s about time they went down.
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Laura Helmuth @laurahelmuth.bsky.social · 07/09/2026
This is a fascinating conversation about recent discoveries in archaeology about autocracy. The research contradicts a lot of common beliefs, including that farming and large populations lead to autocracy. knowablemagazine.org/content/arti...
knowablemagazine.org
What archaeology reveals about the rise of all-powerful rulers
Autocracy wasn’t inevitable in early civilizations — many were more egalitarian. But when riches were there to monopolize, strongmen and inequalities emerged.
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Annemcx @annemcx.bsky.social · 08/09/2026
This isn't about the algorithm, it's about tech companies pushing their crap onto people far too hard. I spent a large part of my career in advertising and would never have sanctioned the amount of advertising ppl have to deal with today. It creates burnout and repulsion. www.bbc.com/news/videos/...
bbc.com
'Good to have choice': Australians on opting out of social media algorithms
The BBC spoke to people in Sydney about Australia's plans to force social media companies to allow users to easily opt in or out of personalised algorithms.
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Annemcx @annemcx.bsky.social · 28/08/2026
1000% www.theguardian.com/commentisfre...
theguardian.com
An $18bn settlement – and Zuckerberg barely blinked. The tech titans must be stripped of their power, and soon | Jonathan Freedland
Those who said Meta harms children struck a blow, but the ability of big tech to gouge profits and cause harm is barely diminished. That’s the battle to come, says Guardian columnist Jonathan Freedlan...
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Annemcx @annemcx.bsky.social · 27/08/2026
....and ceramics. www.theguardian.com/money/2026/a...
theguardian.com
AI-proof? Younger workers desert the digital world for traditional crafts
In a disrupted job market people are turning to heritage crafts such as bookbinding, metalwork and boatbuilding
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Annemcx @annemcx.bsky.social · 13/08/2026
Sobering. www.currentaffairs.org/news/ai-powe...
currentaffairs.org
“AI-Powered” Surveillance Networks are Worse Than You Know
In New Orleans, everyone is being watched with facial recognition cameras and police drones—and your hometown might be next.
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Annemcx @annemcx.bsky.social · 12/08/2026
Bin men are going to be picking up loads of eclipse glasses tomorrow when this morning prople were queuing for hours to buy some for £7 a pop… which makes my mind boggle slightly at our weird and somewhat fucked up relationship with the universe. #solareclipse
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Annemcx @annemcx.bsky.social · 12/08/2026
If Martin Parr were still alive he’d have had a field day with all the photo opportunities of British people wearing weird glasses on the beach and parking everywhere in fields. #solareclipse
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Sean Jones KC @seanjones.org · 10/08/2026
How is it possible that every time I call a company they are experiencing greater than normal call volumes?
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Annemcx @annemcx.bsky.social · 02/08/2026
Of course, but maybe a little less dubious than they are now.
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Annemcx @annemcx.bsky.social · 02/08/2026
Morning bear 🐻
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