Coffee and a Mike Jack Gamble host of "Nobody Special Finance" on YouTube #1245
Nov 6, 2025
Jack Gamble, a YouTuber and investigative financial commentator behind Nobody Special Finance, dives into the complexities of the market. He explores Michael Burry's shorting of Nvidia and Palantir, the pitfalls of the AI bubble, and the shaky foundation of tech valuations. Gamble warns about the risks to average 401(k)s from concentrated index funds and delves into circular accounting practices at Oracle. The conversation highlights the potential fallout from the bubble bursting and the broader implications for the economy and investors.
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AI Buildout Masks A Hidden Recession
- AI investment and government spending are currently masking an ongoing recession that began with Fed tightening in 2022.
- Data-center buildout for AI accounts for virtually all recent measured economic growth, making the economy fragile if it stops.
Data Centers Drive The AI Revenue Story
- High-performance compute data centers are the main driver of recent Nvidia revenue growth.
- Independent studies show most companies using AI see no ROI and often incur productivity losses from 'work slop.'
Transformer Breakthrough Fueled A Costly Experiment
- Transformers (Attention Is All You Need) unlocked conversational models but were repurposed into an expensive scale experiment.
- That experiment relied on massive data and compute financed through circular revenue schemes rather than proven productivity gains.