RazorSharpDNA 🧬

In the last year, the world has printed 9.3% more money. Global M2 money supply has reached $141T in 2026. When inflation starts to run hotter again, they will blame it on Iran and other proximate factors. But the root driver is the money printer has been running hot for the last year. Where? China increased their money supply by 13.6% in the last 12 months. Their M2 is now $50T, making it the largest global driver of fiat inflation. US growth in M2 is just 4.6% over the last 12 months, making the US comparatively responsible. (But make no mistake, this means your dollars have been debased by almost 1/20th of their value in just a year.) Since we live in a global economy, we're subject to the aggregate impact of GLOBAL money printing. The US has been accustomed to being the largest monetary base and therefore largely controlling global debasement. But China's money supply is now 2x as large as the USA's. Your savings are being debased by Chinese monetary policy decisions and you have no control. Nobody asked your permission. Nobody told you it was happening. But your savings just got diluted by 9.3% in one year. Note: I'm currently updating the Global Asset Landscape for 2026 (see prior tweet). It will be out in the next few weeks, stay tuned!

$ETH.

Ex-Google CEO Eric Schmidt got booed at a graduation for hyping AI to 10,000 fresh grads. These kids are walking into a job market already being eaten by the very thing he was cheerleading. Tough crowd. Tougher job market. (clip from WSJ)

LEAKED AUDIO FROM META ALL-HANDS AHEAD OF LAYOFFS TOMORROW Mark Zuckerberg, in his own words, told Meta employees their devices are being tracked to train AI models. His reasoning? Meta employees are smarter than the contract workers the rest of the industry uses for data labeling. So instead of hiring outside help, Meta is turning its own workforce into training data. "The average intelligence of the people who are at this company is significantly higher than the average set of people that you can get to do tasks if you're working through these contractors." He wants the AI to learn how "really smart people use computers" by watching employees work. He says the content is "stripped out" and none of it is used for surveillance or performance tracking. Then he admitted the rollout was botched but said Meta intentionally kept employees in the dark because leaking competitive AI strategy would help rivals. "It is not strategically in your interest for us to communicate everything in all the detail that we normally would on this." Translation: We're watching you, we told you as little as possible, and we did it on purpose. AI is replacing the contractor. Then the employee trains the AI. Then the AI replaces the employee. This story and this company keeps getting weirder.

BREAKING: Trump and sons to be ‘forever’ exempt from tax audits, per FT

In Toronto, a man pulls up to stop a bike thief from getting beat up, then the bike thief tried to steal his scooter and he had to beat him up.