← pool · child of DOGE delivers real federal spending cuts under unified Republican control

📈 DOGE lease terminations flood the office market and hit federal landlords

Federal offices are on rolling one-year leases because the government is treated as a risk-free tenant, so DOGE can terminate them almost immediately, and the buildings are already close to empty. Mass termination plus return-to-office consolidation dumps a large block of space onto an already weak office market, marking down landlords with heavy federal exposure and the wider commercial real-estate values sitting in pension and 401k balance sheets.

0 CONVICTION
peaked 55.3 WATCH
DORMANT
band
▼ SHORT JBGS
expression · bearish equities
WRONG
result · return -13.0% · vs SPY -29.3%
2026-01-31
born 2025-01-31 (E213) → window closed

⚖ Why this result

fully deterministic — computed from daily closes on the scoring date; nothing below is editable or hand-set

  1. Window: 2025-01-31 → 2026-01-31 — first mention + 12-month horizon, then the window locks.
  2. The call: ▼ SHORT JBGS (primary play). JBGS rose 13.0% over the window → return (sign flipped for a SHORT) = -13.0% (the call lost money).
  3. Benchmark: holding SPY over the same window returned +16.3% → vs SPY = -13.0 − (+16.3) = -29.3% — what this call made or lost against just owning the index. This is the number the result uses.
    Direction-only read: +3.3% — did JBGS move the predicted way relative to the market. The two only differ on a SHORT: this call was right about direction relative to the index but still cost money versus holding it.
  4. Rule fired:
    · RIGHT — return ≥ +10% AND beat SPY by 5+
    · HALF — return ≥ +5% OR beat SPY at all
    ▶ WRONG — everything else
  5. Credit: supporters of a WRONG earn 0 each, opposers the opposite — this feeds the scoreboard. supported: Chamath, Jason, Travis Kalanick | proxy-sensitive: BXP→PARTIAL (+7.2%)

Conviction timeline

bands: green ≥ 65 · watch ≥ 45 · ember ≥ 15

Plays vs SPY · % since first mention (2025-01-31)

Plays

expressionsymbolkindrelevancerationale
▼ SHORT JBGSstock PRIMARY DC-area office REIT with the most direct federal-tenant and DC-market exposure
▼ SHORT BXPstock adjacent largest US office REIT - takes the supply shock on rents and occupancy
▼ SHORT XLREetf adjacent broad real-estate basket for the pension/401k markdown channel

Mention log newest first

Chamath
Chamath equities 42% · n=163 · E213 (2025-01-31) · explicit_prediction · strength 2 ▶ 1:36:20 SUPPORT
“Well, that seems like the crazy thing that nobody is thinking about, which is in this push, this physical built inventory has so much value built up in the 401Ks of individuals to the balance sheets of huge pension funds. But that value could be very different.”
Jason
Jason equities 49% · n=105 · E213 (2025-01-31) · explicit_prediction · strength 2 ▶ 1:18:14 SUPPORT
“The government is such a reliable client that they're all on one-year leases. So people don't do what they do with startups, which is force them to do five or ten years, because they know, hey, this company could go out of business. They're just like, yeah, yeah, we're just on a rolling year over year lease, so you can actually just cut these. It's going to flood the market.”
Travis Kalanick
Travis Kalanick (regular guest ×1.0) equities: 2 resolved, unproven · E213 (2025-01-31) · explicit_prediction · strength 2 ▶ 1:17:49 SUPPORT
“I mean, what I'm hearing about these buildings is that they are super, super empty, like next level empty. And let's just say, I'm really glad I don't hold it like I'm an owner that has a bunch of leases to the federal government right now.”

Who built this conviction

each voice's total push on the score, in conviction points across every mention — supports and opposes · share = % of all mention-driven movement

Jason
Jason 49%
1 scoring event · 63% of moves
+35.0 → net +35.0
Chamath
Chamath 42%
1 scoring event · 23% of moves
+13.0 → net +13.0
Travis Kalanick
Travis Kalanick regular guest ×1.0
1 scoring event · 13% of moves
+7.3 → net +7.3

⏳ decay drained -46.5 over the idea's life — that's time passing, attributed to no one

Score events

episodekindΔafternote
E213 2025-01-31 init +35.0 35.0 E213 born by Jason (explicit_prediction x2)
E213 2025-01-31 reinforce +7.3 42.3 E213 Travis Kalanick support x2 (new voice) [w=0.50]
E213 2025-01-31 reinforce +13.0 55.3 E213 Chamath support x2 (new voice)
E214 2025-02-07 decay -2.2 53.1 E214 silent
E215 2025-02-15 decay -2.1 51.0 E215 silent
E216 2025-02-21 decay -2.0 48.9 E216 silent
E217 2025-03-01 decay -2.0 47.0 E217 silent
E218 2025-03-08 decay -1.9 45.1 E218 silent
E219 2025-03-15 decay -1.8 43.3 E219 silent
E220 2025-03-22 decay -1.7 41.5 E220 silent
E221 2025-03-29 decay -1.7 39.9 E221 silent
E222 2025-04-05 decay -1.6 38.3 E222 silent
E223 2025-04-11 decay -1.5 36.8 E223 silent
E224 2025-04-19 decay -1.5 35.3 E224 silent
E225 2025-04-26 decay -1.4 33.9 E225 silent
E226 2025-05-02 decay -1.4 32.5 E226 silent
E227 2025-05-09 decay -1.3 31.2 E227 silent
E228 2025-05-17 decay -1.2 30.0 E228 silent
E229 2025-05-24 decay -1.2 28.8 E229 silent
E231 2025-06-13 decay -1.2 27.6 E231 silent
E232 2025-06-21 decay -1.1 26.5 E232 silent
E233 2025-06-28 decay -1.1 25.5 E233 silent
E234 2025-07-04 decay -1.0 24.4 E234 silent
E235 2025-07-11 decay -1.0 23.5 E235 silent
E236 2025-07-19 decay -0.9 22.5 E236 silent
E237 2025-08-01 decay -0.9 21.6 E237 silent
E238 2025-08-09 decay -0.9 20.8 E238 silent
E239 2025-08-15 decay -0.8 19.9 E239 silent
E240 2025-08-22 decay -0.8 19.1 E240 silent
E241 2025-08-29 decay -0.8 18.4 E241 silent
E242 2025-09-07 decay -0.7 17.6 E242 silent
E243 2025-09-19 decay -0.7 16.9 E243 silent
E244 2025-09-27 decay -0.7 16.2 E244 silent
E245 2025-10-03 decay -0.6 15.6 E245 silent
E246 2025-10-10 decay -0.6 15.0 E246 silent
E247 2025-10-17 decay -0.6 14.4 E247 silent
E248 2025-10-24 decay -0.6 13.8 E248 silent
E249 2025-10-31 decay -0.6 13.2 E249 silent
E250 2025-11-07 decay -0.5 12.7 E250 silent
E251 2025-11-14 decay -0.5 12.2 E251 silent
E252 2025-11-22 decay -0.5 11.7 E252 silent
E253 2025-12-06 decay -0.5 11.3 E253 silent
E254 2025-12-13 decay -0.5 10.8 E254 silent
E255 2025-12-19 decay -0.4 10.4 E255 silent
E256 2025-12-31 decay -0.4 10.0 E256 silent
E257 2026-01-10 decay -0.4 9.6 E257 silent
E258 2026-01-17 decay -0.4 9.2 E258 silent
E259 2026-01-30 decay -0.4 8.8 E259 silent