<![CDATA[Open Fieldbook: Chart of the Day]]>https://openfieldbook.substack.com/s/chart-of-the-dayhttps://substackcdn.com/image/fetch/$s_!GWh4!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faf399953-c4f3-4455-929d-e15609abe41b_256x256.pngOpen Fieldbook: Chart of the Dayhttps://openfieldbook.substack.com/s/chart-of-the-daySubstackThu, 21 May 2026 21:10:08 GMT<![CDATA[S&P 500 first quarter earnings growth]]>https://openfieldbook.substack.com/p/s-and-p-500-first-quarter-earningshttps://openfieldbook.substack.com/p/s-and-p-500-first-quarter-earningsWed, 06 May 2026 00:41:24 GMT

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]]><![CDATA[Hyperscalers' continued capex expansion]]>https://openfieldbook.substack.com/p/hyperscalers-continued-capex-expansionhttps://openfieldbook.substack.com/p/hyperscalers-continued-capex-expansionMon, 04 May 2026 22:53:38 GMT

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]]><![CDATA[Alphabet's Cloud Growth: 2022-Q1 to 2026-Q1]]>https://openfieldbook.substack.com/p/alphabets-cloud-growth-2022-q1-tohttps://openfieldbook.substack.com/p/alphabets-cloud-growth-2022-q1-toFri, 01 May 2026 10:45:49 GMT

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]]><![CDATA[The "Atoms and AGI" Epoch]]>https://openfieldbook.substack.com/p/the-atoms-and-agi-epoch-2026-03-29https://openfieldbook.substack.com/p/the-atoms-and-agi-epoch-2026-03-29Tue, 31 Mar 2026 02:33:31 GMTIf you want to understand where elite capital is actually flowing, you have to look past the thousands of startups fighting for scraps and examine the apex predators. Looking at the chart of the Top 10 Unicorn Valuations, a staggering $3.11 Trillion is concentrated at the very top.

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]]><![CDATA[One company is propping up the carbon removal market ]]>https://openfieldbook.substack.com/p/one-company-is-propping-up-the-carbonhttps://openfieldbook.substack.com/p/one-company-is-propping-up-the-carbonMon, 23 Mar 2026 16:13:12 GMT
These two charts together tell a compelling story about Microsoft’s dominance in the permanent carbon removal market.

Microsoft’s Carbon Removal Growth (Image 1)

The bar chart shows explosive growth in Microsoft’s annual carbon removal purchases from 2022–2025:

  • 2022: ~1M tonnes (a modest starting point)

  • 2023: ~5M tonnes (a 247% jump, noted in the footnote)

  • 2024: ~21M tonnes (roughly 4× the prior year)

  • 2025: ~45M tonnes (signed agreements, more than doubling again)

The trajectory is not just growth — it’s accelerating growth, which is unusual and signals a very deliberate, aggressive corporate commitment rather than incremental progress.

Big Tech Market Share (Image 2)

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]]><![CDATA[Reddit’s $RDDT monetization engine hits its stride]]>https://openfieldbook.substack.com/p/reddits-rddt-monetization-enginehttps://openfieldbook.substack.com/p/reddits-rddt-monetization-engineSun, 22 Mar 2026 16:12:42 GMT

If there were any doubts about Reddit’s ability to turn community into cash, the latest growth and profitability metrics put them to rest. The platform is firing on all cylinders, delivering revenue growth while building a formidable cash cushion.

The Profitability Profile

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]]><![CDATA[The ETF boom: record growth & one issuer steals the show]]>https://openfieldbook.substack.com/p/the-etf-boom-record-growth-and-onehttps://openfieldbook.substack.com/p/the-etf-boom-record-growth-and-oneSat, 21 Mar 2026 16:12:39 GMT

If 2025 was a strong year for exchange-traded funds, 2026 is shaping up to be an explosion. New data reveals a dramatic surge in total ETFs, alongside an issuer race that has one clear winner.

By the Numbers: A Market in Hypergrowth

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]]><![CDATA[The number of software tools the average American organization uses between 2015 and 2024]]>https://openfieldbook.substack.com/p/the-number-of-software-tools-thehttps://openfieldbook.substack.com/p/the-number-of-software-tools-theFri, 20 Mar 2026 16:13:11 GMT

It measures the average number of Software-as-a-Service (SaaS) applications used by U.S. organizations. SaaS refers to cloud-based software you subscribe to (like Salesforce, Microsoft 365, Slack, Zoom, or Shopify) rather than software you install on a single computer.

The Trajectory: From a Few Tools to a Stack

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]]><![CDATA[The largest U.S. banks are tied to the booming world of private credit]]>https://openfieldbook.substack.com/p/the-largest-us-banks-are-tied-tohttps://openfieldbook.substack.com/p/the-largest-us-banks-are-tied-toThu, 19 Mar 2026 16:12:32 GMT

Traditionally, if a medium-sized company needed a loan, it went to a bank. Today, many companies borrow from private credit funds (managed by firms like Blackstone, Apollo, or Ares) instead. These funds raise money from large investors (like pension funds) and lend it directly to companies.

So why are banks on this chart?

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]]><![CDATA[A sudden and dramatic drop in the number of ships leaving the Strait of Hormuz]]>https://openfieldbook.substack.com/p/a-sudden-and-dramatic-drop-in-thehttps://openfieldbook.substack.com/p/a-sudden-and-dramatic-drop-in-theWed, 18 Mar 2026 16:12:52 GMT

This chart shows a sudden and dramatic drop in the number of ships leaving the Strait of Hormuz, a narrow waterway between the Persian Gulf and the open ocean, starting on March 1st.

Think of this strait as the world’s most important energy faucet. It is a narrow channel connecting the oil-rich Persian Gulf to the rest of the world. A significant portion of the world’s crude oil and natural gas (LNG) passes through this single point.

The Key Finding: The Cliff

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]]><![CDATA[Who has money left over after paying for their massive spending sprees?]]>https://openfieldbook.substack.com/p/who-has-money-left-over-after-payinghttps://openfieldbook.substack.com/p/who-has-money-left-over-after-payingTue, 17 Mar 2026 16:12:44 GMT

The Core Concept: Free Cash Flow After Spending

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]]><![CDATA[OpenAI’s ambitious revenue roadmap]]>https://openfieldbook.substack.com/p/openais-ambitious-revenue-roadmaphttps://openfieldbook.substack.com/p/openais-ambitious-revenue-roadmapMon, 16 Mar 2026 16:12:48 GMT

Breaking Down the Four “Pillars” of Revenue

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]]><![CDATA[Alphabet (Google’s parent company) is planning a massive increase in spending]]>https://openfieldbook.substack.com/p/alphabet-googles-parent-company-ishttps://openfieldbook.substack.com/p/alphabet-googles-parent-company-isSun, 15 Mar 2026 16:12:36 GMT

Alphabet’s Capital Expenditures (CapEx) from 2016 through 2026.

  • What is CapEx? It’s the money a company spends on physical assets like building data centers, buying servers, real estate, and research hardware. Think of it as the company reinvesting its profits back into itself.

The “Hockey Stick” Growth

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]]><![CDATA[Wyoming is the most popular choice for LLC incorporation]]>https://openfieldbook.substack.com/p/wyoming-is-the-most-popular-choicehttps://openfieldbook.substack.com/p/wyoming-is-the-most-popular-choiceSat, 14 Mar 2026 16:10:13 GMT

The Big Picture: The “Wyoming Boom”

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