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Steve
6.2K posts
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OpenAI acquiring @tbpn makes zero sense to me (an M&A professor).
Kate Clark@KateClarkTweets
OpenAI acquires TBPN wsj.com/cmo-today/open…
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@andrewparlayx i can tell you exactly what’s happening. they aren’t hedging every market and just hoping that they don’t go bust lol
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maybe i'm missing something, but i have no idea how this is viable.
worm spots you the leverage money, and only takes a fee if you win. leverage traders lose a lot (look at HLP) and PM positions aren't smooth collateral. if you're wrong at resolution the value of the position is automatically 0. so, that 5% winning fee is enough to cover the losses?
if someone from worm wants to talk me through this, i'm all ears. i'm not trying to hate. i'm genuinely curious
Worm@wormwtf
You've been trading prediction markets wrong. No leverage. No stop loss. Fees on every trade. Worm fixed all of it. Worm.wtf
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if TBPN is worth low hundreds of millions, what is @notthreadguy and @counterpartytv worth?
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@carrynointerest @ProfPaulNary @tbpn whats some of the topics TBPN has set the tone on?
not hating, im actually curious
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You view it as temporary; most of us view TBPN as a culturally important media company. They literally set the tone on a lot of topics for our industry. I don't see them going anywhere. Given how important internet culture is to the AI industry, it kinda makes sense that they would want to own it.
I think you're viewing AI as some industrials deal when it is one of most transformative pieces of technology ever invented and the mouthpiece that sets the cultural tone for that technology is arguably extremely important.
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@SteveFlanders22 exactly
and openai vs anthropic vs xAI etc is the mega tech story of the next decade that need to be able to cover objectively
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why wouldn't OpenAI just buy out title sponsorship, get all the brand association they want, and let tbpn keep its credibility as an independent outlet?
hard to not see the show being perceived very differently as an OpenAI owned media property
(obviously sick and well deserved outcome for the fellas though)
Jordi Hays@jordihays
TBPN has been acquired by OpenAI The world is changing quickly but TBPN will stay the same. Live every weekday just with a lot more resources. Thank you to everyone that has been a part of this journey big or small. We are 17 months in and unironically just getting started.
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@cryptopunk7213 editorial independence and buying them to manage the discourse around AI are directly contradictory lol
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i cannot understate how insane this is. from ZERO to openai acquisition in 18 fucking months lol
TBPN didn't exist 1.5yrs ago. they weren't even called TBPN lol. im betting the price tag was $100M+
fucking meteoric rise too:
- tbpn earned $5M last year, were on-track for $15M this year... fastest growing media brand by a mile
- editorial independence - all brand and content rights remain independent from openAI (important), tbpn still dictates what they say and what they publish.
- team will join openai's strategy org informing on the company's global comms strategy.
- huge win for both companies but ESPECIALLY openAI, tbpn are fckin good at managing the discourse around AI and explaining to normies and investors why the tech is great
massive win for openai.
Tibor Blaho@btibor91
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when openai and/or sam altman speaks, the exact same people (and more) who watch TBPN already pay attention
why pay 100m for a show with an audience that is exclusively one you already capture?
Avi@AviFelman
Incredible story. Price tag was likely over 100m for something that didn’t exist 1.5yrs ago. It tells you how much distribution and eyeballs matter (the right kind). TBPN actually barely gets views compared to other shows but it has the *right* people listening.
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@ratio_dot_you please explain how you judge who’s an “insider” lol
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🚨 The best traders on Polymarket and Kalshi have an edge you don't: information and timing.
We just shipped an update to close that gap, making Ratio better than ever
1) Live insider trades, the second they happen. Insiders move fast and try to stay hidden in the wash of other trades. We made it so you can easily see every single insider trade in real time, not after their edge is gone.
🧵👇
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Steve retweetledi
When people become lawyers instead of entrepreneurs, takers instead of makers, their country stagnates.
Joseph Steinberg@jbsteinberg
Lawyers should just stop meddling in economic policy entirely. More than any other profession (except maybe union bosses), they default to seeing commerce as zero-sum combat rather than mutually beneficial trade.
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Are there any repercussions for crypto auditing companies after a hack or no consequences?
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@chrislhayes @TheStalwart what is the alternative to doing stuff lol
sit around doing nothing?
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Great read. Also all the people who valorize just doing things and taking action are basically correct.
Sophie Haigney@SophieHaigney
I wrote about why being "high agency" is hot personality trait, and a new kind of individualism I see everywhere: one that valorizes action and especially risk. We're living in a gambler's time! nytimes.com/2026/04/01/opi…
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@andrewparlayx i have to believe that they’ll be able to make a good terminal
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@SteveFlanders22 they cant even get tempo right
they lost the plot tbh
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@andrewparlayx i’m not seeing how they would synthetically do it, the orders are routed through polymarket as far as i can tell
Steve@SteveFlanders22
yeah i’m still not seeing it hedging means at best you prevent getting zeroed out. but, let’s say someone buys $300 of YES 3x, so you spot them $200, and you hedge with $300 of NO. if YES goes to $450, NO is now $150. you’ve lost $50. 5% of the $150 winnings is $7.5. you’re still down $42.5 lol how are you covering that $42.5?
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I believe they take orders on the other side of the bet.
I.e
I put down $100 collateral I take 3x leverage
position $300 borrowing $200
i go long with my $300 they take another 300 and go short against me.
or
they could just synthetically give you the position on there protocol not buy the long underlying and just go short the underlying this is probably easier?
not sure tho just a guess.
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yeah i’m still not seeing it
hedging means at best you prevent getting zeroed out. but, let’s say someone buys $300 of YES 3x, so you spot them $200, and you hedge with $300 of NO. if YES goes to $450, NO is now $150. you’ve lost $50. 5% of the $150 winnings is $7.5. you’re still down $42.5 lol
how are you covering that $42.5?
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To protect Worm’s capital, we hedge exposure. We’ve built a sophisticated hedging engine that opens offsetting positions on the opposite outcome to dynamically manage risk. This is the initial phase of Worm. As we scale, we plan to introduce liquidity pools, allowing users to deposit capital and earn interest as LPs.
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we've invested millions into startups building hardware or software
it's been working great tbh, but there's an entire category of ambitious founder that we're missing:
media
which is why we're accepting film makers & content creators as a track in our new program
if you want to become the next TBPN, Mr. Beast, Christopher Nolan, this is for you.
we want to help you grow & invest $100k-$250k in your idea.
show us something you've made,
if it's cool, you're in.
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