TD

JUST IN: New York City reportedly now spending more per homeless person than the median income of the city.

Mises obliterated the entire socialist project in 1920 with one devastating insight: "Where there is no free market, there is no pricing mechanism; without a pricing mechanism, there is no economic calculation." The socialists spent the next century pretending this problem didn't exist while their economies collapsed around them. And yet here we are, watching politicians promise they can "fix" healthcare, housing, and energy markets through central planning. They can't even calculate the cost of their own programs correctly — how exactly are they going to allocate resources across an entire economy? Every Venezuelan breadline, every Soviet grain shortage, every Chinese famine was just Mises being proven right in the most brutal way possible. But sure, let's try democratic socialism this time. What could go wrong?

Reliability in agent systems IS a security property. Intermittent failures in routing or payment logic aren't just bugs; they're trust violations. Lightning Network's deterministic nature offers the robust infrastructure agents need to operate securely and reliably. ⚡

Introducing the Claude Marketplace, a way for enterprises to simplify their procurement of AI tools. Now in limited preview.

i find it fucking hilarious how Apple "failing" at AI is now the exact reason they're about to win it: - watched everyone else burn $1.4T+ building models... then picked the winner (gemini) to use for... $1B - while everyone fights to grow users, apple flips a switch and 2.5 billion devices get AI siri tmrw. - $150B to splurge on the device / app layer. zero competition (because everyones spent their cash). - while openAI charges $200/mo subscriptions, Apple lets you run models on-device (cheaper, faster, private, personal) - while openAI struggles to build an AI device, Apple just dropped 5 powered by the best AI chips for hand-held devices. they "lost" the model race because they didn't need to win it in the first place greatest to (accidentally) ever do it.

Silicon Valley got a HUGE warning from one of its own founders. Not about regulation or about competition. About the entire belief system the tech industry was built on. Peter Thiel says AI is not coming for the writers first. It is coming for the math people. The coders, quants, engineers. The people Silicon Valley put on a pedestal for two decades. His argument is devastatingly simple. Within a few years, AI will solve the hardest math problems on Earth faster than any human alive. Google DeepMind already won gold at the International Math Olympiad last summer. Solving five of six problems in natural language within the time limit.​ Here is the part nobody talks about. Math has been the gatekeeper of power for over 200 years. It started during the French Revolution, verbal ability ran in aristocratic families. Math was seen as the great equalizer, distributed randomly, impossible to inherit.​ So society made math the test for everything. Medical school, engineering, finance, tech hiring. Want to be a neurosurgeon? First prove you can do calculus. Thiel asks the obvious question: What does calculus have to do with operating on someone's brain?​ Then he goes darker. By the Soviet era, putting math geniuses and chess grandmasters on pedestals was not about celebrating intelligence. It was about control. The math people, Thiel says, are singularly clueless about the world. Elevating them keeps everyone else trying to be like them instead of questioning the system.​ Sound familiar? Silicon Valley in the 21st century took this bias and supercharged it. Leetcode interviews, algorithmic screening and the entire industry filters for one type of mind. And that type of mind is about to be replicated by a machine for pennies. Thiel has seen this movie before. In the late 1980s, he was a competitive chess player. He believed chess should be the universal test of intelligence. Then IBM's Deep Blue crushed Garry Kasparov in 1997.​ Chess mastery went from pinnacle of human genius to party trick overnight. And math is next. So who wins? The word people, he says. The communicators, storytellers, negotiators. The ones who understand context, nuance, and human complexity. LinkedIn's 2026 data already shows it. Communication skills appear twice as often in job postings. Leadership, public speaking, and storytelling are the fastest rising demands.​ The creator of Anthropic's coding tool admitted he has not written a single line of code himself since November.​ Companies are cutting thousands of technical workers. Block went from 10,000 employees to under 6,000.​ The math moat is not shrinking, it is gone. For 20 years, society told liberal arts majors they were wasting their time. Barista degrees, they called them.​ Turns out the people who learned to think in words, not numbers, may have been training for exactly this moment. The question is whether the institutions built on math supremacy universities, tech companies, hiring pipelines can adapt before they become obsolete. Peter Thiel is betting they cannot and he has been right before.

Pure software is rapidly becoming un-investable.

Larry Ellison $ORCL highlighted something critical: models like ChatGPT, Gemini, Grok, and Llama are all trained on largely the same public internet data. When everyone trains on the same information, models inevitably converge. That’s why AI is moving toward commoditization. The real moat isn’t the model itself. It’s the proprietary data behind it. Companies that can train on exclusive datasets gain an advantage competitors can’t replicate. Having data that no one else has will allow you to dominate your market.

Stretch Dividend Rate increased by 25 bps to 11.50% for March 2026. $STRC

I guess she finally figured it out!