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Starship transiting the Sun this morning during Flight 14 — prior to this morning's mission, this has never been captured before with the world's largest and most powerful rocket. I’ve ached over this shot for years, mainly for two reasons: what does methane exhaust look like silhouetted against the Sun, and how violent are the acoustic energy waves from 33 Raptor engines on the Super Heavy booster? Well...now we have an answer. 📸 - @NASASpaceflight

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Bo Xilai and the Red Aristocracy’s Illusion of Power 薄熙来与红色贵族的权力幻觉 Recently, a post by Bo Guagua, son of the disgraced red aristocrat Bo Xilai, trying to resurrect his father’s reputation made waves on X. Here is my take on Bo Xilai, based on my own understanding and experience — and, by extension, on China’s red aristocracy. I wrote in Chinese in this piece. 薄瓜瓜最近重新开口，让我又想起了他的父亲薄熙来。 关于薄熙来的政治生涯，外界已经写得很多。但我对这个人的判断，并不是2012年倒台以后才形成的。从大连、辽宁、商务部到重庆，我自己看到的、朋友分享的几件事，串起来，反而很能说明薄熙来这个人，也很能说明中国一种特殊的政治阶层——红色贵族。

President Trump hosts the 16-year-old lifeguard, Ryder Williams, who saved a 10-year-old boy from rough waves, and shares what he hopes people take away from Ryder's act of heroism. "You brought tremendous grace and experience... it's so amazing to see this happen." ❤️

This is the most important chart to understand right now as an AI investor There are 3 waves of token consumption. Each wave is bigger than the last, and we're only just starting wave 2 Wave 1: Chat Wave 2: Agents Wave 3: Physical AI (humanoids, robotaxis) Token usage is expected to multiply 24 TIMES by 2030, with enterprise agents alone burning ~120 quadrillion tokens/month The growth in chat is limited from here, but that's ok because wave 2 has already kicked off and its accelerating extremely fast right now Wave 2 is Agents that work continuously instead of answering one prompt at a time, enterprises deploy them by the thousand, and consumer agents (the new Siri, Gemini on Android) haven't even shipped at scale yet. That's the 24x, and it's why compute, memory and power demand keeps accelerating through 2030 But wave 3 is the real kicker and it crushes everything else. This is the part that isn't in many of the models today. Physical AI: Humanoids, robotaxis, autonomous machines. Expected to be the biggest consumer by 2030 and reach 400 quadrillion tokens a month by 2040, the biggest of every category on the chart And here's why wave 3 is different for infra investors: it pays the infra stack TWICE. Every robot runs inference around the clock (tokens), and every robot IS hardware itself too. A humanoid carries roughly 10x the memory of an advanced car, plus the sensors, chips and power systems. Wave 3 demand shows up in tokens AND in physical components As I've said many times before, the demand for compute and AI infra is infinite becuase the demand for intelligence is infinite. As the form factors we use intelligence continue to grow, the demand does too The sooner you understand this, the sooner it becomes easier to learn how to invest in it. or to make it even easier, you can track my real-time portfolio and 4 other analysts' with live trade notifications and research inside Milk Road PRO. It's just $1 to try it out right now, learn more here: If you enjoyed this, give me a follow @kylereidhead for more insights on AI and markets