Niftical

maybe that's why they're so concerned about "model welfare"

Hermes will actually run an RNG in python by default

yes - this is always true on some level but also is the antithesis of the goal of most VC backed startups and what Buffet teaches and what PT describes in 0-1 etc... the goal that all investors and founders strive towards is for the business to have a moat so defensive that a monkey could run it, and as we've seen with facebook, uber, ebay, etc. such a moat is possible, because they have all at some point suffered egregious failures of governance and yet all are enormously valuable and durable businesses. this is the dream and also the basis for tech companies to be worth trillions. none of this is to say that you can't build a great business on the back of continuous innovation. it has been done many times before and will undoubtedly be done many times again. but it is much harder to do well and harder still to sustain over long arcs of time. there are exceptions of course but they are few and far between. as @nikitabier stated (much more concisely) - in today's world AI has removed much of the barrier to developing new products and thus the avenues by which moats can be established are arguably fewer than they have been in the past. going forward, many of the businesses who drive unique and differentiated outcomes will do so by generating and leveraging proprietary data and imo their ability to maintain that edge will often depend on the sovereignty of their AI systems. you are also seeing this view expressed in the market with funds such as USV publicly stating they'll be focused on "data at the edge" or @derekedws last two posts touching on the significance of privacy and sovereignty enabled by local inference and open source harnesses, respectively. the internet freed information, blockchains freed capital, LLMs freed intelligence. new technologies tend to democratize access to previously scarce resources but eventually new forms of scarcity rise to the surface and the moats get rebuilt.

crypto companies are, for the first time since I joined this industry, considerably cheap relative to non-crypto companies

people should have Actual Computers @actualinc

Sometimes I wonder how people outside of NY are able to survive without their state governments protecting them from dangerous crypto scams such as ETH-backed loans or trading on Kraken

people who value privacy do not post about their $ZEC positions on X

simple mental health tricks for men: - be part of a self-managing network for venture capital - join @ADINonline as a network member - join @ADINonline as an investor - go from superagency to superventure - submit deal to @ADINonline - have deal approved by @ADINonline - receive autonomous venture funding from @ADINonline - receive carried interest from a deal you submitted to @ADINonline - wear online ceramics @ADINonline tee Apply here → adin.online/waitlist

"Machines of Loving Grace"

mitzvah maxxing

It will soon be generally accepted that democratic judgments of prediction markets are vastly more trustworthy and unbiased than expert opinions.

Sell it all

Welcome, class of ‘23

Follow the leverage.

When is the last time you googled something and browsed through the search results?

me: can we build a moat? mom: no, we have moats at home the moats at home:

Ponzinomics as a bootstrapping mechanism