PowerStrugglePowerStruggle

Power Struggle in PA

More than any other interconnection, PJM is feeling the squeeze from the explosion in use of AI engines like ChatGPT.

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TaxReturn

Beware Four “Gotcha” Taxes

Seriously, the Big Beautiful Bill couldn’t address any of the “gotcha taxes” sprinkled throughout the tax code?

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Trump’s New Tariff Deadline

The Trump administration’s tariff clock that was set to run out on Wednesday has been reset by another 23 days. Kinda-sorta.

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Countdown to Liberation Day 2.0

That 90-day tariff pause closes next Wednesday, July 9. To date, the Trump administration has come to terms with exactly… three countries.

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Trump’s Crypto Pivot

Did the crypto lobby help get Trump over the finish line on Election Day?

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The End of Visa and Mastercard

What’s the advantage of using stablecoins versus actual dollars?

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One Billion Users

In 2005, the internet reached 1 billion users — 36 years after its launch. Cryptocurrency is on track to achieve the same feat in less than 20 years.

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Atomic IPO

One of our long-standing themes (the demands of AI on the power grid) is intersecting with one of our themes this week (the resurgence of IPOs).

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Not Since 1980…

Circle Internet Group (CRCL), the company behind the USDC stablecoin, just pulled off one of the most explosive IPOs in decades.

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It’s a Rigged Game

The problem we’ve lamented in these daily missives for years: The best time to get into an IPO… is before it goes public.

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3 Million Acres

A recent Senate proposal is a small part of the Trump administration’s plan to tap into the mineral wealth on federal lands, valued at up to $150 trillion.