Owning a home in America has never been more expensive:

The average annual cost of homeownership has surged +39% since 2019, to a record $28,596/year in 2025.

This outpaced the +26% increase in CPI inflation over the same period.

Interest payments are now the largest single cost, rising +35% since 2019, to over $10,500 last year.

Emergency repairs and home maintenance soared +175% and +85%, respectively, over the same period.

Meanwhile, property taxes are up +31%, to $5,900/year, making them the 3rd-largest component of homeownership costs in 2025.

The US housing affordability crisis is in full-swing.

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In Vienna people are ratting neighbours who installed Midea Portasplit out to the government

AC did become political

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You cant make this sh&t up they are talking about planting moss on buildings walls to cool them down....

freaking MOSS

mention of ACs? ZERO

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We have Africans in the UK touching telephone poles claiming "the trees are melting"

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The cardiac unit of the Düsseldorf University Hospital, where people recover from heart surgery, is currently measuring 38°C/ 100.4°F. As you can see, the building is only about 15 years old. And built without central air-conditioning

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We are reaching levels of ridiculousness that I didn't even think were possible

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NEW FRONTIER

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"A Republic, if you can keep it"

Merry Friday gents--

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"Europe explained for Americans."

Pretty good.

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AI startups with no revenue have found a way to inflate their valuations. They raise funding in two tranches at wildly different prices. Ineffable Intelligence raised $11 million from Sequoia at a $55 million valuation, then raised $1.1 billion from other investors at a $4 billion valuation weeks later. The headlines reported the $5.1 billion number. Over 63 AI neolabs are collectively valued at $300 billion and have raised $48 billion.

My Take

Sequoia gets a 70x markup on paper before the company does anything. The founder pitched AI in toasters with no deck and no memo, and raised $1.1 billion. One VC on the call said he left with more questions than answers. Sequoia invested anyway.

This is how the bubble works. VCs inflate valuations with tranched rounds, startups use that headline number to recruit employees whose options price off the top, and those employees take on more risk for less upside without knowing the lead investor paid a fraction of the sticker price. One VC called it a "pump and dump" round. Another called it the "Sequoia Scam."

Meanwhile enterprise customers are capping AI spend, communities blocked $130 billion in data center projects, and 16% of the public thinks AI will be positive. The Nasdaq dropped 4% this week because the market is starting to ask the same question the investors on that Zoom call should have asked. Where does the revenue come from? 63 neolabs valued at $300 billion and not one of them has an answer yet.

Hedgie

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This is how an F-15 gets fed before it goes to war

Just crews loading a massive belt of ammunition by hand under one of America’s most iconic fighter jets.

Modern airpower has a human loading dock.

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BREAKING: US military begins emergency AC airdrops over Britain after temperatures exceed 'quite warm'

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TGV broken down in a tunnel: 50°C heat, babies fainting, staff exhausted. A five-hour delay. This is the reality of French transport under Macron.

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It's that time of year again!

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A group of Asian American university friends in San Francisco.

All the girls in this picture are hooking up with White guys and all the guys are single & celibate

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