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But we saved everything 🙂.
Edward Dowd, founding partner at OceanSquare Asset Mgmt, ex-BlackRock executive, warns that there is no path to profitability in the situation referenced and suggests that losses may need to be socialized.
His comments highlight concerns about financial sustainability and the potential need for collective management of losses.
Dowd has previously raised concerns about disclosure practices in the technology sector, noting Anthropic’s reluctance to share financial details with potential debt financiers during funding talks. He has also highlighted how subsidies accelerated AI model adoption for IPOs, while customer demand may be slowing. His recent warning builds on a pattern of skepticism regarding financial sustainability in new market entrants.