ben barren (@benbarren) header
ben barren (@benbarren) profile picture

i twitter therefore i am, till i don't.

Mornington Peninsula. Founder
Joined November 2006
Photo by ben barren (@benbarren)Photo by ben barren (@benbarren)Photo by ben barren (@benbarren)Photo by ben barren (@benbarren)Photo by ben barren (@benbarren)Photo by ben barren (@benbarren)Photo by ben barren (@benbarren)Photo by ben barren (@benbarren)Photo by ben barren (@benbarren)
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ben barren retweeted
HERE'S THE ANTHROPIC MODEL: Anthropic will go public at $2T in Oct '26 and will be a $1T ARR company and $10T+ company Dec' 2030 as the winner of AI. Here's how Anthropic gets to $1T ARR in 2030: - 2026E: $125B ARR +14x YoY w/ 5 GW live - 2027E: $266B ARR + 114% YoY w/ 10 GW live - 2028E: $462B ARR +73% YoY w/ 16 GW live - 2029E: $700B ARR +52% YoY w/ 23 GW live - 2030E: $1T ARR + 42% YoY w/ 30 GW live I'm dropping my full Excel model modeling out: - ARR by business model (e.g Consumer, B2B, Enterprise, API) - API business broken down by model type (e.g Fable 5.1, Mythos, Opus, Sonnet) - Training costs and inference cost as a % of revenue - Gross Margin ($ ARR per MW and Cost of Compute per MW) as well as forecasting GW secured. - Net ARR (vs Gross ARR reported by trackers) removing marketplace pay out, Meta, Chinese AI labs - and more I also share the @artemis thesis for WHY Anthropic is the AWS of AI and winner of AI in the enterprise (and open source and ANT / OpenAI can win) Get the full model here: artemis.ai/anthropic-thesis Full Disclosure: I don't have inside information. I took what's publicly available from the July '26 @SemiAnalysis_ model and added my own judgement based on public information and my own world views. I've spent a life time modeling as a former HF and VC analyst. I'll update the model as soon as the S-1 drops.
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ben barren retweeted
'The Australian' tried a gotcha on new Greens leader David Shoebridge and it didn't go as planned 😎
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🏆 MELB CUP KEY RUNNER STAT 📊 🇯🇵 STINGER GLASS 🐎 The Melbourne Cup form stats that no-one has mentioned ⬇️ Days since last start = 143 ❌ Days since 2nd last start = 256 ❌ On existing form, Stinger Glass may well be the best stayer in the field, however I question why he didn't have a lead up run like 90% of the JPN horses that came before him. SG has 4 "Red" negative markers across the KEY prep data points. Below I highlight the first negative marker ⬇️ Every Oseas horse that has run Top 3 in The Cup Vs Stinger Glass
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ben barren retweeted
Now all the scans are done these are the odds I have taken for this years Cup. Will now hold off until the draw although I do see Defiantly at some value at $11.00 plus. Was interested in Stinger Glass although the weather luckily had held me off. Lots of smoke around.
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ben barren retweeted
The vets have been busy going through the Melbourne Cup horses. Racing Victoria has released details of those examinations.
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ben barren retweeted
Really even and open Victoria Derby this year. Worth noting that 8 of the runners have had 4 or less starts leading into Saturday, including some of the more favoured runners. Here is a list of how many starts each winner had leading into the Derby for the last 25 years. 🧐
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If you’ve ever wondered how major Hong Kong racing syndicates generate multi-million dollar returns season after season, the answer rarely boils down to "they just pick winners better."
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🏇 COSMIC CRUSADER’s Cox Plate win stamps him as the best middle-distance horse in Australia. His 106 WFA Performance Rating ⏱️⚖️📊📊 was his third new peak this preparation: • 2nd Underwood Stakes: 102.3 • 1st Turnbull Stakes: 104.2 • 1st Cox Plate: 106 He keeps thriving on racing, and Saturday was a serious stamina test with nowhere to hide. ⏱️ The field almost inverted. The first five home were all 7th or worse at the 800m, while every runner in the front half at that point finished in the back half, apart from Sir Delius, just over that boundary in 6th. Open the TopRate screenshot and note the early pace, +18L faster than standard, then follow Cosmic Crusader’s sustained strength over the last 800m. His final 200m was still +2.9L above standard. After such a strongly run race, he still finished full of running. That stamps serious quality in the win. 📊 My first impression as they crossed the line left a few doubts about how strongly the race would rate. Reviewing the meeting in full put any doubts to rest. The fast early speed helped set up a fast time, but they matched what should be expected of an elite race over this trip. 🗓️ Cosmic Crusader’s 106 compares favourably with recent Cox Plate winners: • Via Sistina: 104.5 in 2025 • Romantic Warrior: 105 in 2023 • Anamoe: 105.8 in 2022 Aside from Via Sistina’s freakish 116 in 2024, this win sits very well among recent editions. The performances behind him add substance. Birdman rated close to his Underwood win, while Aeliana’s 104.5 was clearly her best in this preparation. Ceolwulf ran about as well as I could have expected, right up to his better mile ratings. I don’t see it as a failure to stay 2000m. The level required was just beyond him. Cosmic Crusader clearly relished the seven-day backup from the Caulfield Cup. Perhaps the fitness from that longer trip, followed by a quick backup, was a defining factor in such a tough 2040m. 👏 Andrea Leek deserves enormous credit for taking a horse rated 101 in WA and elevating him to the elite level of Australian middle-distance racing. Assuming he remains well, there’s every reason to press on to the Champion Stakes. He’s run three new peaks this preparation and shows no signs of having had enough.
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When is a Cox Plate not a Cox Plate? When it's run at Flemington ... as for the field quality ... where's the stars? #CoxPlate
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Today @RVStewards have concluded their inquiry into Saturday’s Caulfield Cup fall.
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Replying to @O_McIntyre_
Correct, referring to speed ratings, which is the time it takes a horse to cover a given section (or overall), compared against a normalised standard for that track & distance, adjusted for conditions on the day. You can't use raw times, as every track layout is different, e.g., uphill, downhill, the number and tightness of bends, straights, etc. On the TopRate speed ratings he went +3.9L vs standard to the 800m on Saturday. His previous fastest was +3.6 lengths, where he led.
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🏇 Would going forward have helped Ka Ying Rising? Tempted was brilliant in winning The Everest, posting a new peak WFA Performance Rating of 106.5 ⏱️⚖️📊. That improved on her last start 105.2 and, coincidentally, matched the 106.5 Ka Ying Rising ran to win the race last year. Much of the discussion has naturally centred on the beaten $1.35 favourite and the ride by @zpurton . I think the criticism is unwarranted. The early speed and post-race data give me little reason to think pushing Ka Ying Rising harder to secure a more forward position would have improved his result. 🔹 What would going forward have cost? The early speed was hot. From the overhead footage, it was clear Ka Ying Rising’s natural speed on the day wouldn’t get him across without additional urging. Purton had to decide in a split second whether asking for that effort was in the horse’s best interests. Afterwards, it’s easy to identify a preferred position outside the leader and think that if he pressed forward, he would have won the race. The more important question is what it would have cost to get there. Even from where he settled, Ka Ying Rising travelled +3.9 lengths above the TopRate standard to the 800m, exceeding his high from 24 previous starts of +3.6. So, relative to standard, he travelled faster to the 800m mark on Saturday than he ever has before. While his reputation as an exceptionally fast horse is well earned, his elite overall times have historically come largely from a controlled early pace, then blistering speed over the final 800m. He rated 112 on the occasion he ran that previous +3.6 figure to the 800m mark, so this doesn’t mean Saturday’s early speed was beyond his capabilities. A repeat of that 112 would have seen him win comfortably. He managed 106. What the comparison does show is that settling behind the leaders didn’t mean he was travelling too slowly and could have simply gone faster without consequence. Asking him to exceed his natural speed to join the battle up front could arguably have left him finishing further behind. 🔹 Purton backed his horse’s ability Before Saturday, Purton had ridden Ka Ying Rising 22 times for 20 wins. He knows the horse exceptionally well and was best placed to judge how he was travelling at that moment. He was riding one of the highest-rated sprinters we’ve seen, with a clear edge over his rivals on established times, sectionals and overall performance ratings. There’s a familiar saying in racing: “Ride it like the best horse.” I think that is essentially what he did. The last thing a jockey wants is to compromise a horse’s chances by doing too much in the first 300–400m, especially when its ability gives it a clear advantage. Sometimes you have to accept an imperfect position, “take your medicine”, as jockeys say, and trust the horse’s superiority to carry it through. On this occasion, it didn’t. That alone doesn’t make the decision wrong. 🔹 There wasn’t a powerful finish suggesting unused energy Ka Ying Rising’s final 200m sectional was +1 length above standard. He worked steadily to the line, while Tempted deteriorated slightly to -0.6, and others behind him finished similarly. He wasn’t powering through the line like a horse with plenty of unused energy. His finishing data offers little support for the argument that he could have spent considerably more early and still produced enough late to win. He covered some extra ground, encountered a soft track for the first time (or at least one that wasn't firm), and was racing away from home. Those are variables to consider when explaining why he regressed below his best. I wouldn’t automatically treat the soft ground as an excuse, but the combination of circumstances may have contributed. Even allowing for those factors, his 106 was disappointing against the 110 - 114 level he had consistently shown since last year’s Everest, with a last start peak of 119. Three races later, Cross Tasman carried 60kg, sat four-wide without cover and won. That is a different race and horse, but it is a useful reminder that a difficult trip doesn't automatically cost a horse the opportunity to win. Given Ka Ying Rising’s exposed talent relative to his rivals, saying the decision to take a sit and not press forward cost him the race goes too far. My assessment is that Purton made a reasonable decision in real time, and the subsequent data supports it. Ka Ying Rising wasn’t good enough on the day, under those circumstances. Tempted deserves full credit for reaching a new peak and beating him. Even an exceptional horse starting at $1.35 still has to produce the performance to win. History shows time and time again that racing offers no certainties.
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📊 MELB CUP STAT OF THE DAY🏆 GEELONG CUP LEADUP = more Top2 finishes in the Mel Cup than 2x other key leadup races combined! Since 2000, the Geelong Cup has had an extremely powerful impact on the Melbourne cup placings including - 3 wins 6x 2nds 9x Top 2 finishes Compare that with ⬇️ Lexus/Archer Stakes: 2 wins 1x 2nd 3x Top2 Moonee Valley Cup: 2 wins 2x 2nds 4x Top2 See video ⬇️ ⬇️ where I breakdown: - strength of the Geelong Cup for finishing Top4 in the Melbourne Cup - how the raw race time can be used as a future indicator - Comparison against the Moonee Valley Cup & Lexus/Archer (ex Hotham Hcp)
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OMFG! This response from @AbdulElSayed to a completely bigoted question is probably the best thing I’ve heard all year. Every bigot in America needs to listen to this three times.
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ben barren retweeted
To compare like-with-like you need to compare KYR yesterday with Black Caviar when she was shipped away and fell-in at Ascot, whatever the excuses may have been. A more reasonable comparison is home-ground BC vs home-ground KYR … now that would be a match-up, were it possible.
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a 50-person company’s slack and email data is selling for $300-400K right now, and the labs are calling brokers on fridays saying they don’t care what it costs. here’s everything from our conversation with data broker ryan lock (sponsored by Ahrefs): ryan sold his solar company ($35M revenue, 1,000 reps) last year and stumbled into data brokering when someone told his co-founder he could license his company data. the first offer gave him two days to accept or it exploded. his co-founder negotiated it up 4x. that gap is the whole business: the labs are desperate, business owners have no idea what they’re holding, and nobody’s advising the sell side. he launched in july, went viral once, and was doing 15 meetings a day with business owners. team of 13 now. every single lab reached out to him inbound through X. the model is simple: buy data assets from companies, package them into training sets for frontier and mid-tier labs. what they want is operational data: email, slack, drive, accounting, shopify, klaviyo. raw text, not photos or video. the part nobody understands: it’s not volume, it’s context. a customer email that gets pinged into slack that gets resolved in a ticket is a complete story a model can learn from. switch from slack to discord two years ago and lose the chain? the data’s worth a fraction. ryan’s own solar data was nearly worthless because everyone just picked up the phone. his co-founder’s remote slack-native team got the full ask. the numbers: average deal is $300-400K for a 50-100 person company, deals go up to $2-4M for the big ones. quick valuation proxies are number of software tools, years of full-context data, and headcount, because a hundred people generate idea-discussion-approval-feedback loops that five people in one office never write down. the de-identification alone costs $10-50K per terabyte, done by a third party who never lets ryan touch the raw files. and don’t try to scrub it yourself: tony becomes “employee six” everywhere consistently, or the whole set is destroyed. ryan’s analogy for margins: raw data is oil at $100 a barrel, the labs turn it into jet fuel at $2,000, and the broker takes the risk that the barrel has no engine inside. the spirit airlines bankruptcy sold its data to google for $10M, which he thinks is low for the largest public deal. the data companies are all talked about as very profitable, but the real edge is procurement on demand: he forecasts what the labs will want next and ranks his pipeline by acquisition priority. current requests: circuit board CAD files, architecture firms, heavy construction, and video game 3D development. the gotchas before you sell: never sign a perpetual exclusivity. perpetual use is standard (nobody can track files down the chain), but exclusivity should be termed, usually two years, or you’re locked out of a future revenue stream forever. and if you’re selling your business in the next year or two, a $500K data deal can become a due diligence landmine on a $20M exit. tom’s referrals keep saying exactly that. micro one pays $50-75K referral fees because they’re playing a different game. ryan pays 6% and tells brokers to charge the seller for running the process instead. where it goes next: ryan thinks the buyer pool expands past the frontiers to enterprises training their own models. a 20-person HVAC company only knows what it knows, but add 150 years of industry data and you’ve got a vertical model, the harvey-for-law playbook in every trade. the video side is wilder: labs pay $10-20 an hour for people to wear headcams doing manual work, and there are state-sponsored warehouses in china and every low-cost country where workers rotate through sewing and dishwashing stations for robot training. jacky’s fraud prediction: 500 fake chinese companies with active linkedin pages. ryan’s answer: if the simulation is that good, the data’s probably valuable anyway. bonus: jacky’s own slack community, 500 people and 20K messages a month, has already gotten offers. “no amount of money, well, that’s a lie, I’d take my pants off for seven figures.” the over/under for ryan’s next 12 months was set at $300M gross, and micro one just passed a billion annualized. tom asked to become a master affiliate and jacky immediately called it master and slave. tony’s response: “the white guy’s still on top. we went back a hundred years.” the industry is a gold rush and the shovels are already being sold. NGMI with @itstonyyu and @tomwang24, guest @RyanLockAI. watch/listen ↓
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مصورة الواشنطن بوست التي تعرض لهجوم من الوحوش الصهاينة في الضفة الغربية المحتلة. "رسالة واحدة إلى أهاليهم: لا أعرف كيف يمكن لأب أو أم أن يربّيا مثل هؤلاء الوحوش. حقًا، وبكل صراحة. لقد شهدت بنفسي سلوكهم وهم يعتدون على العائلات، وقد نشرنا مؤخرًا تقريرًا عن ذلك. وأشعر بخجل شديد، وبصفتي أمًا، لا أستطيع أن أفهم كيف يمكن لأهل أن يربّوا أفرادًا بهذه الوحشية. إنهم ليسوا بشرًا حتى. ونعم، إنهم إرهابيون يهود، وهم يسيئون إلى سمعة الجميع في هذا البلد بصورة مروّعة. وللأسف، أصبح الجميع يرون حقيقتهم على ما هي عليه. وهل تعرفون ما الأمر المحزن؟ أنا متأكدة من أن أحدًا منهم لن يُلاحَق قضائيًا، للأسف."
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I know America. I know that, in America, we believe in a country big enough for all of us. So, JD Vance, don't you dare come from Ohio to lecture me. You don't know a damn thing about America.
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David Hayes deserves full credit, has turned up to every media call, every tv show, interview and so on. A fantastic ambassador for the game and even more so after the defeat of Ka Ying Rising.
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This is what Jillian Segal is defending. This is what the Albanese government's continued political and diplomatic support facilitates. The IDF covered for a group of thugs who were bashing a woman journalist to death. This is Israeli terrorism - this is why the world loathes them.
“Let me die,” American photojournalist Heidi Levine repeats to journalists Jasper Nathaniel as they try to outrun masked Israeli settlers who attacked her on Friday while she covered the olive harvest in the West Bank village of Abu Falah, near Ramallah. Around 80 settlers attacked Palestinian olive harvesters in the village, AP reported. The Palestinian Red Crescent said it treated six people injured in two attacks in Abu Falah. Levine, a freelancer for the Washington Post, told the Committee to Protect Journalists that the settlers knocked her down and kicked her for at least 10 minutes, even after she identified herself as an American journalist. They stole her camera, phone and bag. She was eventually taken to a hospital in Ramallah. "The IDF provided cover, with tear gas and machine guns, while the settlers beat" Levine "nearly to death," Nathaniel wrote, adding that soldiers then shot a Palestinian bystander and aimed their guns at and shoved paramedics trying to treat him. AP photos and circulating videos show Israeli soldiers standing over a wounded Palestinian man after they shot him. Andrey X, an activist also at the scene, said a Palestinian man "saved our lives from the settler-terrorists who attacked the olive harvesters and journalists” armed only with a slingshot.
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