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Premium: The Hater's Guide To Blackstone, the world's largest asset manager that grew through exploiting financial crises and rental markets. With $200bn in AI data centers and investments, it may be the first time Blackstone is left holding the bag. www.wheresyoured.at/premium-the-...

Blackstone founder Stephen A. Schwarzman likes to portray himself as a uniquely prescient investor - which makes his obsession with AI even more puzzling. www.wheresyoured.at/premium-the-...

Blackstone has invested in just about everything, from becoming the world's largest property owner, to endless private equity deals, to buying a sanitization firm that hired 13-year-olds to clean slaughterhouses. www.wheresyoured.at/premium-the-...

Take, for example, its 2010s flirtation with residential property, where it spent big on foreclosed homes and buying out existing landlords, jacked up rents, neglected repairs, and even made the UN so mad it send it a sternly-worded letter. www.wheresyoured.at/premium-the-...

Blackstone's largely wound down his residential property business, in part because it's realized that there's far more money to be made in private credit and equity. It's now focused both of them on sinking hundreds of billions of its capital into AI. www.wheresyoured.at/premium-the-...

Blackstone's data center assets have swelled to over $200bn (larger than its traditional infrastructure holdings) and it has become an investor and lender to neoclouds and model labs alike, meaning its exposure to the AI bubble is likely much larger. www.wheresyoured.at/premium-the-...