Wednesday links: shrinkflation and skimpflation

MarketsA look at the state of the bull market. (spilledcoffee.co)A look at return dispersion in the components of the S&P 500. (axios.com)AIRecent hacks show AI companies don't have a great handle on things. (ft.com)Where small language models (SLMs) can substitute for LLMs. (klementoninvesting.substack.com)Patrick O'Shaughnessy talks with Ben Thompson about the binding constraints on the AI buildout. (podcasts.apple.com)Hyperscalers are betting big on natural gas. (techcrunch.com)AppleHow Apple ($AAPL) 'AirPods Vision' could work. (spyglass.org)The Apple ($AAPL) Vision Pro as surgery assistant. (asymco.com)PharmaA Moderna ($MRNA) and Merck ($MRK) mRNA melanoma vaccine proved efficacious. (wsj.com)Eli Lilly ($LLY) is taking cues from Silicon Valley. (economist.com)Why pharmaceutical price inflation is negative. (axios.com)Stay in touchDon't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)Work in wealth management? Sign up for our exclusive Talking Wealth