Sunday links: ambiguous terms

StrategyLanguage matters when it comes to market analysis. (tker.co)Gambling is a better business than stock brokerage. (trendlabs.com)Does valuation matter any more? (giftarticle.ft.com)CompaniesBerkshire Hathaway ($BRK.A) put some cash work in Q2 including share buybacks. (cnbc.com)Elon Musk needs to keep the hype machine going at SpaceX ($SPCX). (wsj.com)Private SaaS companies are scrambling for exits. (wsj.com)Why Pfizer ($PFE) is struggling. (giftarticle.ft.com)AIJust how badly did OpenAI mess up? (thezvi.substack.com)AI is now a major election issue this Fall. (newyorker.com)Do we really want AI creating new, novel viruses? (nytimes.com)ImmigrationIt's way too easy for the government to search your phone at the border. (theatlantic.com)It certainly seems that the U.S. Citizenship and Immigration Services is slow walking legitimate applications. (axios.com)H-1B exposure raised incomes for natives and pre-existing immigrants. (nber.org)Be careful criticizing ICE on social medi