Mirage Capital

@HotForMoot Excellent idea- they should distribute it at the Siyum Hashaas to celebrate the completion. Commemorative can each 7.5 years

Red Bull should come out with a kosher version called Red Heifer

@wolfejosh "The American Military power protecting GLP-1s" is a great time. Ranks high on Maslow's hierarchy of needs

4/ The ARSENAL of democracy has become an ARSENALof arithmetic—and the numbers don’t add up EFFICIENCY is just FRAGILITY that hasn’t been stress-tested yet strategic patience, properly framed, (as in what Putin + Russia have been doing) is outsourcing ENTROPY to your ADVERSARY

1/ Our Q1 ‘26 Lux LP letter is about two forces hiding in plain sight: ASYMMETRY + ENTROPY they govern markets, militaries, machines + more the central Q: What did you choose to build and protect—and did you understand what it cost? 🧵

@shaunmmaguire Must be close to Moritz on all-time proceeds returned to Sequoia?

The moment we've all been waiting for!!! 🚀

@tanayj What about the pass-through gross revenue of Anthropic to the named hyperscalers above? Actual net lower

Wild to compare q1 annualized revenue added for Anthropic vs hyperscalers: - Anthropic: $21B - GCP: ~$9B - AWS: ~$8B - Azure: ~$8B Note seasonality effects and hyperscalers based on quarterly revenue × 4, Anthropic based on monthly run-rate.

@alexrkonrad $2bn pref stack for SSI. In line with other AI researcher bounties. Not even the highest, Google/Windsurf at $2.4bn

Smart to crack down on those Anthropic SPVs first 👀

"Rogers is unfailingly described by friends and foes as a master tactician with a long record of behind-the-scenes accomplishments, yet his indispensability stems in large part from how little he cares about being recognized for those accomplishments." bloomberg.com/news/articles/…

@jaltma @ericvishria “It was the most bizarre offer letter I’ve ever seen,” Vishria said. “The terms were simple — you’ll be an equal partner and that’s it.”

Huge congrats to Andrew and the Cerebras team. What an insane accomplishment. Proud to be in the same room as my partner @ericvishria who I think is one of the best to ever do it.

@jakeottiger @neuroswish OpenAI hasnt done a good job releasing products outside the ChatGPT surface, mainly because of thier first mover advantage in chat / brand identity

@jakeottiger @neuroswish Codex is not in ChatGPT because OpenAI doesnt have enough compute to give all the consumers the ability to run background agents, spin up VMs etc. Once they do have enough compute, they will integrate the two. It goes well beyond just coding

openai will merge codex with chatgpt when they can move all this to cloud. it will be the biggest moment in consumer ai since chatgpt. the gap to usefulness will then strictly be building custom tools and deployment.

Atlassian, Cloudflare..

@blakeir How do you win in CPG? Create distribution. I think they figured that one out

feels like Soylent would absolutely rip if they relaunched it today.

@JiffyLu We calling top here?

First rule of private market brokerage club is that you don’t talk about the club

Hot potato in the private markets!

@nikhilvnamburi Data center is the flavor of the month. Its more clear than ever that lower cost of capital is the moat here. See coreweave chip loans. So many private neoclouds will struggle to get lower cost of capital to compete and ultimately won't be able to go public

@P_Remarks Art of the Deal to be doing this right under the nose of the Musk vs. OpenAI trial

@matt_slotnick Think the original acquisition was more for the ex Meta talent led by Fidji. Can't help that OpenAI Ads product is taking forever. Kudos to Spencer for being in the arena and trying to AI ify a public company- one of the few trying

OpenAI selling Statsig to Amplitude... super interesting. in a roundabout way Amplitude is now one of the more AI native companies in the public markets?

Very profound, well said They will back founders whose first 4-5 years are embarrassing. This is harder than it sounds, because looking foolish is genuinely costly. The investor who backs 10 weird founders and waits 7 years for one of them to break out spends 7 years being roasted at dinner parties. The investor who backs 10 safe, flashy founders and produces a 1.5x fund spends those same 7 years getting invited to more dinner parties.

Nobody is talking about the Sama acquiring TBPN just ahead of the Musk trial to help sway public opinion

@akramsrazor niche but gold

Aubrey McClendon would be proud

@JoshuaKushner GP stakes next and infra too?

Today we announce Thrive Eternal, a permanent capital holding company that will be concentrated in a small number of assets that we can own and steward over many decades. Across Thrive Capital and Thrive Holdings, we are building and investing through a moment of exponential change; backing emerging technologies, the infrastructure that powers them, and the businesses they can transform. Increasingly, we see a fourth category. These are assets with qualities that cannot be replicated by technology. Iconic franchises and cultural institutions rooted in tradition, identity, and shared experience. In a world shaped by abundant intelligence where creation scales and distribution fragments, we believe they will matter even more. Thrive Eternal is built on the belief that the most enduring of these assets share common characteristics: they benefit from long-term stewardship, they compound through cultural resonance, and they are enhanced by technology rather than displaced by it. Our work at Thrive has always been informed and inspired by a deep appreciation for product, brand, and the ways in which consumers form lasting relationships with the things they love. We have been building towards this for a long time. Our first partnership is expected to be with the San Francisco Giants - an institution built on more than a century of shared identity and community, and among the most iconic sports franchises in America. We have reached an agreement, subject to league approval, to acquire an ownership stake. We feel privileged by the opportunity to be long-term partners to the Giants.