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Buffett, in a moment of uncharacteristic exuberance (for him, anyway – a slight nod counts as a rave), declared Abel could manage his money better than anyone. Anyone! That’s a bold statement. I mean, has he seen my portfolio? Just kidding… mostly. But it does suggest Abel has the green light to shake things up. And shake things up he might. Now, I’ve been staring at spreadsheets and financial statements for longer than I care to admit, and I’m predicting two things. Two glorious, potentially lucrative things.

As of 2:25 p.m. ET, the stock had relinquished 13.4% of its value. A sum, incidentally, that could purchase a rather respectable collection of antique telescopes—or, failing that, a moderately sized asteroid.

Viking Therapeutics (VKTX 1.91%) and PayPal (PYPL +1.95%) represent, in their respective spheres, a gamble. One a speculative flutter on the whims of pharmaceutical approval, the other a slightly bruised, but still substantial, titan of the digital transaction. Both, however, offer a prospect of return that exceeds the tedium of a savings account.

Nvidia, once content to amuse with digital worlds, now powers the engines of calculation that shape our realities. They feed on data, and the hunger is insatiable. OpenAI, Microsoft, Meta, even Google – they all kneel before the altar of Nvidia’s GPUs. It’s a comfortable position, a monopoly built on silicon and CUDA, a proprietary language that locks customers in like serfs to a lord. AMD attempts to challenge, but it’s a slow climb against a fortified wall. The big companies build their own, of course, but even they find it cheaper to rent the tools than to forge them anew.

Let’s be clear. Mr. Abel isn’t Warren Buffett. A rather obvious statement, wouldn’t you agree? But the notion that Berkshire is about to veer wildly off course is simply dramatic. The gentleman spent decades under the old regime, absorbing the… eccentricities. He’s not likely to dismantle a perfectly functional, if somewhat antiquated, system overnight. And, rather crucially, he’s still answerable to the Oracle himself, who remains on the board, presumably to ensure things don’t become too terribly modern.

The impatience of the market is a familiar affliction. Investors, ever seeking immediate gratification, have questioned the magnitude of Amazon’s capital expenditures, a sum exceeding one hundred and twenty-five billion dollars for the past year. Such a commitment, unprecedented in its scale, has been viewed by some as reckless, a dissipation of resources. Yet, it is precisely this willingness to invest beyond the immediate horizon that defines Amazon’s character. While others reap the superficial rewards of readily available technologies, Amazon is constructing the very foundations upon which the future will be built. The difference is subtle, but profound, like the distinction between harvesting fruit from an existing tree and cultivating an orchard for generations to come.

By the close of 2025, however, the narrative began to shift. Roblox didn’t suddenly discover the virtues of austerity, but it performed a far more subtle feat: it reset expectations. Growth, like a well-bred horse, found its stride again. Monetization options, once limited, began to bloom. And the creator ecosystem, that hive of digital industry, deepened in ways that clarified both the potential and the inherent limitations of the enterprise. It is always the limitations that prove most diverting, don’t you think?

The recent pronouncements – the quarterly earnings, the projections – were, by conventional measures, sound. A growth of seventeen and six-tenths percent in revenue, earnings per share exceeding expectations. Yet, the stock retreated. A curious thing, isn’t it? To offer fruit and receive a stone in return. It suggests a deeper current at play, a disquiet that numbers alone cannot assuage.