Just a quick update between some recent travel: I was on Derek Thompson's Plain English podcast this week. I expanded on various data center ideas, while also discussing the role of "check size" in creating a financing flywheel¹, a concept that many observers overlook.
¹ The more money an asset manager has under management, the more motivated they are, all else even somewhat equal, to find projects for which they can write large checks. Billion-dollar funds do not want to write one thousand checks for $1-million; $100--billion funds don't want to write a thousand checks for $100-million. This causes large funds to gravitate to projects that need a lot of money, which can have malign consequences.
You can have a listen here.
Lots more in the queue, with two things coming next week. One piece is on Monday for premium subscribers, and then someone else for everyone later in the week. I also have a few other interviews coming out, and I'll let folks know as they do.