Vol 28 – The Dog Year Speed
- Ann Yu
- 13 minutes ago
- 7 min read
June 8, 2025
🎙️ New Podcast Episodes Incoming! We're stacking up fresh content on our Spotify podcast channel - have you gotten your weekly dose of Mandarin financial humor yet? 😃🔥
What’s in the newsletter this week?
1️⃣ AI Revolution in Cool Charts! AI is spreading like wildfire, but how does its rise compare to other big tech shifts in history? Legendary tech analyst and VC investor Mary Meeker just dropped a killer report with some jaw-dropping charts!
2️⃣ Mag7 Reality Check: The Most Valuable vs. The Most Expensive - Nvidia snatched the throne as the world’s most "valuable" company from Microsoft for a few days this week. But that's just market cap. Valuation-wise, can you guess which Mag7 stock is the most "expensive" in terms of P/E, and which one is the lowest? 🤔
Category | Contents for this week |
|---|---|
1) Charts of the Week | |
2) Market Buzz |
Key things to watch for the upcoming week:
US - Earnings | Jun 11 (Wed) - Oracle (ORCL) |
US - Eco Data | Jun 11 (Wed) - May CPI |
Other Major Events | Jun 9 (Mon) - Japan 1Q GDP |
Charts of the Week – AI Revolution in Charts!
Meet Mary Meeker, the legendary “Queen of the Internet” 👑. She’s famous for her days in Morgan Stanley when she spotted game-changing tech trends before the rest of the world catches on. Think Apple, Google, and the rise of the digital economy - she saw it all coming before us! Last week, she dropped the report for 2025, and (of course) AI was the star of the show!
I've gathered some eye-opening charts from the report that vividly illustrate the AI revolution - contrasting it with what we once knew.
1) Seem Like Change Happening Faster Than Ever? Yes, It Is!
Back in 1999, Internet pioneer Vint Cerf famously said: "A year in the Internet business is like a dog year - equivalent to seven years in a regular person's life."
Well, turns out, that dog-year speed is still way too slow to describe what’s happening with AI! Let's see below comparison:
Ford Model T (1908) 🚗 – The first mass-produced car took 2,500 days to hit 1 million users.
TiVo (1999) 📼 – The digital video recorder (where you could finally record your favorite shows!) took 1,680 days to hit 1 million users.
iPhone (2007) 📱– No introduction needed… it took 74 days to get to 1 million users.
ChatGPT (2022) 🤖 – Hold onto your seat… it sprinted to 1 million users in just 5 DAYS. 🤯
When stacked against other major Internet breakthroughs, ChatGPT’s growth was also off the charts. It reached 100 million users within 0.2 years (or 2.5 months), leaving past tech giants in the dust.
2) The Future of Search?
Google search revolutionized the way we find information. But now, it might be history in the making. Here’s my personal take: Google can find you raw information, but you still have to sift, summarize, and refine the results before they make perfect sense.
ChatGPT? It provides instant answers that are clear, concise, and ready to use. No extra effort required… well, except for a quick fact-check, just to be safe. The numbers can tell:
🔎 Google took 11 years (2009-2020) to build up to 365 billion annual searches. 🚀 ChatGPT hit that scale in just 2 years (2022-2024).
3) Costs Fall, Performance Rises, and Usage Grows, All in Tandem. AI inference costs for users are plunging at a pace much faster than historic breakthroughs like electricity and computer memory, accelerating AI’s accessibility for everyday developers and users like never before.
This 340-page report by Mary Meeker is packed with even more insightful charts. Reach out to us anytime for an in-depth discussion! For your reference only. Not investment/product recommendations.
Market Buzz – Mag7 Reality check
Nvidia shot to the top this week, briefly claiming the throne as the world’s most valuable company with a jaw-dropping $3.46 trillion market cap. But before it could settle in, Microsoft came roaring back, closing out the week with an even heftier $3.50 trillion.
Yet, market cap only scratches the surface. To see the full picture, we turn to the Price/Earnings (P/E) ratio.
🚀 Quick challenge! 🚀 Among the Mag7, which stock do you think boasts the highest P/E ratio? And which one holds the lowest?
For the following comparison, we will use this formula: P/E = [Closing Level as of June 6, 2025] / [Estimated EPS for Current Year Based on Bloomberg Data]
The Highest P/E in Mag7
Some of you may have guessed it already - the P/E crown among Mag7 goes to...... Tesla (153.72x P/E)!
Ironically, it’s not because the "P" is sky-high, but more because its "E" have plummeted.
Tesla has always had choppy earnings, but things worsened dramatically when Elon Musk got wrapped up in government work. Now, freed from that role - though not entirely unburdened💔😢 - he’s back, but the damage is done. Tesla’s earnings plunged nearly 50% in the most recent quarter and sent the P/E ratio surging.
The Ones with >30x P/E
Putting Tesla’s drama aside, the next in line are Microsoft (35.10x P/E), Nvidia (32.80x P/E), and Amazon (31.09x P/E).
No surprises here - these are the biggest AI beneficiaries, thriving with fewer noises and distractions (not none, but fewer). Among them, Microsoft holds a higher valuation (for now) thanks to its broader and more diversified revenue streams than the other two.
However, AI’s future is still a canvas for imagination. As we've seen from the chart above, inferencing costs are plummeting at an incredible pace, developers - whether solo creators or ambitious pioneers - now have the tools and affordability to turn bold ideas into reality.
And Nvidia isn’t letting this trend slip away!
This year, Nvidia unveiled DGX Spark - a palm-sized supercomputer priced at just $4,000, designed to empower everyday developers to innovate and monetize AI using Nvidia’s technology. Because the next big AI breakthrough might not come from a tech giant but from someone like us - just as the gaming world never expected Angry Birds to become a global sensation! 💡
The Ones with 25x-30x P/E Moving down the list, we have the more "troubled" names - Apple (28.47x P/E) and Meta (26.45x P/E).
Apple is facing headwinds on multiple fronts - Trump’s tariff uncertainty on iPhones, a slowing China market, and ongoing legal battles over its App Store fee structure. To add to the pressure, Apple is feeling the heat in the AI race. Last year at WWDC 2024, they unveiled Apple Intelligence, but for many iPhone users, the excitement fizzled fast. Now, with WWDC 2025 kicking off tomorrow (June 9), the pressure is on. Will Apple finally deliver something truly groundbreaking - or will it be another round of hype without the punch?
Meanwhile, Meta’s grip on digital advertising is being shaken by fierce competition from TikTok and YouTube, along with intensifying global regulatory scrutiny. Its massive AI investments also lack a clear monetization strategy, unlike other tech giants.
And the Winner for the Lowest P/E is...
That's right, the only one that hasn't been named yet is Google (17.68x P/E).
Referring again to Mary Meeker's charts, we saw how ChatGPT searches have rapidly scaled up to rival "traditional" Google search, creating a major headwind for Google. This challenge was a big reason why Google hesitated to fully embrace AI early on - remember 2023, when Google rushed out Bard, leading to jokes and a $100 billion drop in market value?
But that was the past. Google is now moving fast to reclaim its AI edge, for example:
🔍Google search results now prioritize AI-generated responses over ads
⚡Google's custom AI chip (TPU) enhances efficiency across services like Maps, Gmail, Drive, and YouTube. (🤖 = 🗺️+📧+📁+🎥+✈️+🏨+🍽️)
At Google I/O (Google's annual conference) two weeks ago, they even introduced an AI Operating Layer - not just an Operating System on your laptop or mobile, but a powerful AI assistant designed to integrate seamlessly into daily life.
Still, AI isn’t the only challenge on Google's plate. The ongoing antitrust lawsuit with the U.S. Department of Justice looms large, with potential structural changes ahead.
But as they say - the first step to solving a problem is admitting there is one. And Google seems ready to make that leap.
To wrap up, here’s the complete list of P/E related ratios, based on
current-year earnings (the numbers we talked about above),
next-year earnings (shifting the "E" to "next year" could spark a surprising change in rankings!)
PEG (P/E ratio divided by growth rates) - Google holds the lowest P/E, but Nvidia takes the crown for the lowest PEG! What does that signal about valuation and future growth??
I'm running out of space here la! If you're interested in further discussion, feel free to reach out to Jadewell Family Office today or follow us on Spotify, Facebook and IG!
For your reference only. Not investment/product recommendations.
About Jadewell Family Office
Jadewell is committed to offering proactive, customized services akin to a “single-family office,” yet within the ease of a “multi-family office” environment.
Ann Yu
Co-Founder and CEO
Jadewell Family Office
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