Alex Rossie
I build companies and I fly aircraft. I write here about AI, markets, and history.
- Salesforce's AI quarter was real. More than half the profit was paper.
Salesforce's second-best day ever came on a print where $2.43 of the $4.29 in GAAP earnings per share was an unrealized mark on Anthropic. On the beat that was really a dime, the same-day Claudeforce deal that makes the AI quarter genuine, a growth metric rebased in the quarter it was quoted, and a headline built on a figure with no public price.
- The FAA blew its own presidential deadline on drone right-of-way by six months, on purpose
Executive Order 14307 gave the FAA 240 days to publish the drone beyond-visual-line-of-sight rule, and DOT now says the miss was deliberate. On the right-of-way revolt underneath the delay, the go-around called late, and the clearance the White House is still holding.
- The Tariff Bill Has a Slow Third, and It Is Still Arriving
The NBER team cut the 2025 tariff bill into its three channels: 26 cents on the dollar in total, two thirds landing on impact, a slow third arriving nine to twelve months behind each wave. On absorption as the concession, clocks that run both ways, and three Fed trackers landing in one ballpark.
- Zillow and Compass are burning cash over who owns the listing. Nobody's suing over how long the closing takes.
Zillow, Compass, MRED, and the FTC are at war over the listing shelf, and every combatant already owns title, escrow, or mortgage operations. On toll-booth economics, the lead as a claim check on the closing, and the six weeks nobody with a war chest wants to shorten.
- Same model, same customer, same timeline: the frontier lab still lost
Palantir's Q2 8-K proves growth at software economics; only the earnings call supplies the cause. The better causal evidence arrived three months earlier: OpenAI paid four billion dollars for the layer Sankar says only Palantir has. On what a filing can certify, what a bake-off story can't, and why the engineer who closes got acquired instead of automated.