Bob Dewey

Dear COLDCARD attackers, Congratulations. You successfully found a bug, exploited, and have collectively gathered around 1,500 bitcoin. Now you are sitting on one of the most blacklisted coin stacks in history. It will be nearly impossible for you to exchange for currency or deal with any institution. Every move you make will be highly scrutinized and tracked. Presumably for the rest of your lives, you will be looking over your shoulder. I suggest you plea with CoinKite to return all stolen funds in return for an audit fee of 5% of the loot. This way your work is rewarded and you are able to enjoy the fruits of your labor. Respectfully, hodlers worldwide

🚨 New York Democrats introduce bill requiring 10% discounts on all items at self-checkout.

SITUATIONAL AWARENESS 13F Leopold Aschenbrenner’s 13F gets the most views on the Lumida Invest app. Let’s take a look at his factor exposures. You can see on the attached that Leopold has a whopping 3 standard deviations of Animal Spirits in his portfolio. Add to that boat loads of momentum. And the AI theme. That’s the recipe. That’s it. Note: We simulate the portfolio assuming quarterly positions are maintained. The volatility on this portfolio is not unlike a 3X levered bet on Semis. This portfolio, put simply, is really a giant bet on high beta AI stocks.

WHEN AI EMPLOYEES? We’re still early. The browser started as a web browser … in 5 years it opened. new markets: SaaS, e-commerce, online dating, social media, real estate, etc. We still don’t have an AI chief of staff that’s always on. (You can build one…still nothing out of the box.) The AI CoS watches Slack, Asana, Github, and your CRM. It remembers yesterday. It follows up. It wakes up on its own. The fact this obvious tool does not exist yet tells you how early we are. The breakthrough isn’t a smarter model. It’s persistent memory, continuous observation, and autonomous execution. *The real unlock is when AI can do the work, not just create more work for human review.* We are gradually exiting the age of AI slop. The next gen of software isn’t apps. It’s co-workers. Co-workers that need compute, memory, storage, and energy.

I've made more money from long-term trends than anything else. And the one I have the most conviction in is L1s. People can't understand how I hold through drawdowns like this. How can you ignore it falling this much? Simple. I'm not looking at the price. I'm looking at what these networks actually become. The economy is about to change shape completely. Billions of AI agents, transacting constantly, at a speed no human system was ever built for. They can't run on the old banking rails. Three-day settlement, correspondent banks, closed on weekends... none of it works for machines. They need rails that are programmable, instant, always on. That's what L1s are. The settlement layer for the machine economy. We just invented them a decade too early. And they're trading at a fraction of the NASDAQ and the semis... for the thing the whole next economy runs on. Wild.

AMERICAN BANKERS ASSOCIATION CEO ROB NICHOLS SAYS HE SUPPORTS THE CLARITY ACT BUT WANTS ITS STABLECOIN YIELD BAN EXTENDED TO AFFILIATES AND EXCHANGES TO PREVENT DEPOSIT FLIGHT FROM BANKS AND CREDIT UNIONS