Is Wall Street falling out of love with Silicon Valley? Because right now, it's giving…lovers' quarrel.

CoreWeave shares have taken a beating over mounting debt concerns, Meta shares plunged over ballooning AI spending, and even the Nasdaq took a hit last week.

Here's the tea: Silicon Valley is racing to build AI infrastructure. Wall Street wants to know when all that spending will translate into returns.

And we're talking trillions of dollars.

What's fascinating is that we're witnessing an entirely new, capital-intensive business model emerge. Tech companies are pouring unprecedented sums into compute and infrastructure today, betting that tomorrow's AI economy will justify it.

Look, that's what we do in SF. We love a big vision and some unmanageable capex.

With just a few hundred million in venture funding in our pockets, we're off on a journey. Take a hit of that good stuff and watch our technological dreamscapes appear vividly before us in the Indian summer sunshine at Dolores Park. Bi-Rite after, unless we're biohacking.

Those New Yorkers don’t care to partake.

My Tea? Color me biased, but I'm not sounding the alarm just yet. Demand for AI compute is through the roof. If anything, we're facing a shortage of supply.

I see this as a recalibration, not a collapse.

But Wall Street's question is fair: At what cost does the AI transition arrive, and who's footing the bill?

Something to brew on. 🫖