FSD: Not In My Backyard
Episode publishedPodcast: Lumida Wealth : Non-Consensus...Lumida Wealth : Non-Consensus Invest Beyond the Ordinary
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Hey, guys. Hope you're all doing well. It's Thursday afternoon. What a day. Micron Health Firm doing well. Meanwhile, Max seven stocks, Bitcoin software remains under pressure. We were just listening to David Bowie's Under Pressure. Thought it was fitting for the theme, Under Pressure. My view, not David Bowie's best work, but people seem to love it. So, hey, there you go. Under Pressure. Few observations. If you look at the analyst estimates for free cash flow growth for Microsoft, Meta, and Google, they're essentially zero for the next three years, and then they jump suddenly and dramaticall
look it up in my feed.
It's terrible. It's just they've destroyed capital. The capital base has no reinvestment. There's no owner of capital. Well, there is an owner. Everyone's the owner, which means no one's the owner. It's a classic case of the tragedy of the commons, which you learn in economics one zero one. K? So that's the basic issue. You know, the the great innovation of the American Republic, it's worth talking about in the context of the bicentennial, was the declaration of human rights, that there are inalienable rights that are self evident. That term self evident is a powerful word because what it's sa
how to get
a project going. It's difficult, and, you know, these politicians don't have the best interest in my view of the people. Not always. They're mixed and they're complicated and there's grift. You know, it's they you you help them raise money and you get a permit, that kind of stuff. Right? So or worse or worse. Look at, what Chris Christie did with the George Washington Bridge. Right? I mean, it's just that's just unfortunately what happens when you have non market ways to allocate. Right? That isn't to say that you don't have issues around inequality. Yes. There are issues. Okay? But going in t
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