Trader reflects on Astra launch and the ARR debate in buy-side chats
A month after OpenAI launched Astra, a trader describes two days of arguing across five buy-side group chats about lab ARR, the bogey, and how portfolio managers will react.
Humans are amazing. A little over a month ago OpenAI launched Astra and I remember feeling a little emotional realizing how profoundly humanity was about to change. The last 48hrs I haven’t moved from this chair as my thumbs have incessantly argued across five different buyside group chats re what lab ARR is likely to be and what the bogey is and how are boomer PMs going to react while they wait for spec sales to tell them if the interpolated ARR ex five different adjustments is actually bearish or bullish SOXX and if every neocloud deserves to die a fiery death. Humans are infinitely adaptable and literally could wake up with aliens on the White House lawn tomorrow and the next day would just argue over what kind of waffles they should make. We’re a fucked up species man ❤️