Do data centers really drink the water table dry? Pierce breaks down the three ways they shed heat, why the scary viral stats are less lies than motivated framing, and how tax breaks lure these things into the country's most parched counties. Then: Midjourney becomes a healthcare company, SpaceX buys Cursor for $60B in stock, and the Fable 5 export-ban saga rolls on: the Lutnick letter, the SK Telecom-China angle, Anthropic's new KYC-and-biometrics policy, and the unsolvable problem of telling 70% of your own staff they can't touch the model. Get hyped on some data centers.