Wall Street Analysts Are Comparing This To Enron — We Had To React

The gist

1. OpenAI and Anthropic manipulate chip amortization schedules, claiming 5 to 6 year lifespans instead of 3, hiding an estimated $72 to $76 billion in losses.
2. Banks push high-risk AI debt into public portfolios through shadow banking, credit risk transfers, and collateralized loan obligations similar to 2008 mortgage-backed securities.
3. AI companies need $1.6 trillion in annual revenue to justify planned data center capacity, but current revenue is far below that and growth is slowing.
4. Zitron recommends Ray Dalio's diversification approach, noting Dalio returned positive 9% during the 2008 crash by spreading risk so no single sector collapses a portfolio.