For many, work replaced religion as a major source of meaning, and soon AI will displace much of that work -- leading us back to the most important question, once again.

A trend Lekker Capital has been calling out for months now (slide is from our February investor update) is that institutions are selling into retail. It is troubling to see this continue and retail comprise an even larger % of buy flows as of late. This has negative implications.

ELIZABETH WARREN JUST NOW ON CNBC: "Trump should not be calling for Powell to lower rates and say he wants him fired. This is hurting the nature of democracy and will ruin the stock market." Also Elizabeth Warren 8 months ago:

Alternative translation: “if even a vassal state is dragging its feet on whatever the admin is proposing behind closed doors, by god it must be a draconian ask”

Or maybe CBs know something that the Street doesn’t

It's Jain Street now

A farmer watching the Irish Open surrounded by his cows. When people talk about being effortlessly cool, this is who they're talking about.

This is an excellent post from Tomasz. I’ll take it a step further: it doesn’t have to be IPO and tokenization. It will increasingly be just tokenization. Why? • IPOs are expensive (~$20M) • The IPO bar keeps rising median software IPO now needs ~$200M ARR* • M&A is

what war are we training for 😭 WHAT ON EARTH

Very good read, despite the apologetic bias and chatgpt output.

But Washington knew this going in which is why the game theory incorporates two critical elements: 1) there is no deal to be made with China. At all. The strategy is to ignore China even as you make believe you are attempting to engage. 2) you push as much of the pain away

x.com/i/article/1921…

fucking insane how we started with dirt and rocks and dead trees and somehow built all of this shit. empty planet of nothing and now look at us glass skyscrapers cutting through clouds digital networks spanning continents. we took useless ancient plants crushed under dirt for

I’m pretty bullish for a while here but I think things could get super sketchy in July

End state of Ethereum DATs is competition forcing them to deploy capital onchain. As this plays out, DATs may become one of the largest new sources of DeFi inflows, channeling institutional money across the capital structure into the onchain economy. Same goes for other L1s

capitalism is beautiful

wild how elon owns more of all the companies he built than bernie sanders. this is not fair. we should steal the companies he built and give them to bernie sanders.

The Big Rug Gooning is well covered in the Doom thesis. Elon's "Imagine" is digital crack cocaine being given out for free. So that's in progress. But, GPT5 shows us that enterprise / tool calls is where companies are converging This mirrors the rest of the economy. Consumer

I see SBET/BMNR combined buying $20-40bn of ETH in 25', most of which will be placed into onchain borrow markets, drawing stables to loop or farm This will be the most meaningful active capital injection in DeFi ever Future of france

a very freeing realization is that most people are complete narcissists if you mess up your life terribly nobody will think about you very much if they do they probably don't have much going on so if you fucked up, don't worry. nobody cares. just fix the situation.