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Blue Owl won’t give your money back. This is fine
(pivot-to-ai.com)
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this post was submitted on 26 Feb 2026
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TechTakes
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Big brain tech dude got yet another clueless take over at HackerNews etc? Here's the place to vent. Orange site, VC foolishness, all welcome.
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There's gotta be a pithy way of talking about this. I propose "Phantom Funds" - money that investors and analysts expect to be there that ends up not existing when the cards are turned over.
Why yes this does largely boil down to fraud but without the legal consequences.
the AI bubble, the private credit bubble (this one), the Wall St Bitcoin thing, etc. are all about writing down a big number with a $ in front on thin justification, then borrowing against it
this runs into issues tomorrrow. but not today!