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chart doesn’t say 2027 nor have an y-axis that makes sense to me ($600B might work vs $6B)

Seems sustainable.

The next banking crisis would be Armageddon. The pile of debt on these Tech companies balance sheets is unsustainable. Something has to give, especially when things fall apart.

But but but they’re going to pay it from cash flow!

Ed Zitron, is that good?

What could possibly go right?

Is this inclusive of data center capex or is it everything except data centers?

Yikes. Just, like, yikes.

Seems to be a worry. When the music stops, how many will get chairs?

This is the money that remains after operating expenses and interest payments—which must be settled—have been deducted.