YieldFinder

@Molson_Hart Did you wipe?

Story of how I got nasty at chess and won $16,000 in a tournament in 2008: My aunt taught me how to play chess when I was 5. My parents signed me up for an after school class and they put me in the middle section. Despite no practice, I started smoking everyone in middle section and I got upgraded to the top section where every kid had an outside tutor. My parents brought me to 1-2 tournaments on weekends and I was pretty bad, rated 900. At one point my father even beat me in chess and refused to play me again. They didn’t think much of it and even though I loved chess, they didn’t want to invest in it, so that was it. 12 years later I am at a friends house and am now 17 and this guy beats me at chess. It lit a fire in me and I bought some books and started playing online. I would figure out how to go to tournaments and just destroy people mainly because I had that 900 rating from when I was in kindergarten. I would win smallish tournaments get $400 or whatever and they wouldn’t want to pay out, but it was legit. I had a low starting rating and had improved a lot. Then I heard about “the world open” a tournament in Philadelphia held every year which had $16,000 first prize for sections. I had shot up to 1500 or so by this point so I was going to play in the under 1600 section. I went to the world open and I lost. My parents who paid for the trip mocked me asking me if I had “enjoyed my vacation” meanwhile I was trying to win money. Very irritating. I’m in college now and instead of going to class I would just play chess in my room. I once paired with an international master but really had to shit. It was blitz chess (<5 minutes per side) and pre cell phones so I couldn’t run to bathroom and run back to finish the game, so I grabbed a bag I found in my dorm shat in the bag and beat the guy. I kept getting better but I stopped playing in any official tournaments because I wanted to win the world open. Instead I would find cafes with guys literally named scary Gerry and play them for money. 2 years later I went back. In these tournaments, every time you win you face someone else who won so each round gets harder and harder. The games can go 6 hours long. It’s intense. After 8 rounds I haven’t lost. I face @sethbannon. If he beats me he wins $16k. All I need is a draw. Crazy double edged game where he was winning for most of it. I finally defend to the point of taking the initiative and offer him a draw. He takes it winning I think about $7k himself. I get first prize! I am sooooo happy first time I have accomplished basically anything in my life. I call my ex girlfriend. 😊 I call my girlfriend. 😊 I call my mom. “Mom I won.” “Yeah sure. Just come home safe.” 2 weeks later my parents got the check in the mail and got so excited. They didn’t believe that I had won money. When they saw the check the blew it up and printed it out so it was the size of a door. A family friend heard and realizing I wasn’t useless got me a job at a hedge fund. That little tournament really made my life come together. Anyways, I never got good enough to be titled but I can beat anyone without a title and many titled players particular in blitz. I love chess. It teaches you to learn from your mistakes, to not give up, you can play it anywhere on your phone today, and it’s a great mental workout. Highly recommend and my kids may end up being really good because my wife has freakishly good visual pattern recognition like me. We’ll see. And one last thing, never take shit from your parents. Make them eat their words lol

@Molson_Hart Did you wipe?

@EricBalchunas I may in fact, be buying a new book…

@EricBalchunas I will buy your book, if he comes to Philly. There is no way.

Please no. Of course he’s a legend (was never a fan personally but have to respect his longevity) and it would add sizzle but he’s old and media sucks up to him too much eg if we win it’ll be bc of his greatness and if we lose it’s bc he didn’t have enough help. No thx.

@yaacov Where in Europe did you find this place?

More of this please

@ThinkFinance999 @Molson_Hart China subsidizing Tesla in China is not the U.S. subsidizing Tesla to enter China. Why say stuff without reading?

$TSLA was literally the 2nd largest recipient of EV subsidization in China. It also got free land for the factory, lower rate debt to finance it and tax credits for a few years, reducing taxes on profits. Tesla was not unique, either. Why say stuff without knowing? It's obvious most people make claims, especially on China, based on, basically, nothing but vibes.

This is true for the US too. American car companies printed money in China for years while complaining incessantly about how hard it was to do business there. When Chinese car companies got good, the US just banned them from the US market altogether.

@thesamparr The clips will continue until morale improves. ✌️

Mark Pincus told us how he handed his money to wealth managers and funds for 10 years. They got him 2.2% a year. Very consistent. They nailed 2.2% every single year, no volatility, while he massively underperformed the market. So he fired them all and started managing it himself.

@thesamparr “Claude, carpet bomb my followers with new clips every 30 minutes”

On My First Million, Mark Pincus told us about the day Sean Parker walked a 19-year-old Zuckerberg into his office in 2004. Zuckerberg had on basketball shorts and Hawaiian flip-flops, put his feet up on the table, and handed Mark a business card that read "I'm CEO, bitch."

@dread_numen @Molson_Hart Maybe that will change, but historically it has been…

@Yield_Finder @Molson_Hart What do you mean of course they do. You think IP theft is a one way street? lmao

@Molson_Hart In all fairness, the US brands were not subsidized to go into China. And maybe I’m wrong, but I don’t see OEM’s stealing Chinese IP.

@Molson_Hart They took capital to avoid bankruptcy, not sell below cost in international markets… I don’t think Jim Farley driving an SU7, is comparable to forcing all (almost all) foreign OEMs into JVs.

@Yield_Finder 2 out of 3 of the US major carmakers received a huge injection of capital from the federal government. they are absolutely copying Chinese cars. Ford's CEO talked about how he uses them all the time. What else would he be driving a banned car for?

@cartermcclung Yikes. Why leave this up?

Nobody funding a Trump account for their kid is thinking about gift tax returns. The IRS is. Quick backstory: Trump accounts launched this July (6 days ago). Nearly 6 million families have already opened one. You put money in for your kid, it grows like an IRA, and they can't touch it until 18. Sounds simple. Contribute, move on with your life. Then on June 29 the IRS dropped Revenue Procedure 2026-25 and quietly confirmed what most people never considered: Contributions to these accounts are gifts and gifts have rules. And falling outside the new safe harbor means you owe the IRS a gift tax return (Form 709, the form that reports gifts so the IRS can track them against your lifetime exemption). Here's where business owners and retirees get caught. The safe harbor only protects you if your total gifts to that child stay under $19,000 for the year and you have no other reason to file a gift tax return. So if you contributed $10,000 to a Trump account, put $12,000 in a 529, and gifted your kid some appreciated stock from your brokerage account, congratulations. You exceeded $19,000 and you now have a filing requirement most CPAs won't catch because they don't know what your advisor did, and your advisor doesn't know what your CPA filed. This easily becomes a gap in communication between planner and accountant. Also - unreported gifts can keep the statute of limitations open indefinitely. The IRS can come back 15 years later and ask questions (not someone you want poking around in your business). Key here is being mindful of gifs above $19k across all accounts to one person.

@VeganMarine_ @TRGrossman @EWErickson No, a custodial IRA requires earned income. These do not.

@TRGrossman @EWErickson You can do that with a traditional custodial IRA right now.... These accounts are dumb af. You have zero control as to what the investment is as opposed to an IRA where you can control it. Just open up an IRA for your kid....

Trump Accounts are a good idea with a fatal flaw that Congress needs to fix. Unlike normal retirement accounts, you put in money after taxes and when you take money out, it gets taxed. In a normal retirement fund, you put in pre-tax dollars that get taxed at withdrawal or post-tax dollars that don't get taxed at withdrawal. Trump Accounts get funded with post-tax dollars that are then also taxed at withdrawal. Congress needs to fix this.

@ankurnagpal @pitdesi @grok Most people will still be a dependent at this point, but there will be opportunities to convert advantageously at some point in the future.

@pitdesi @grok you can only ever contribute earned income to a roth ira, regardless of age (excluding non-working spouse) so depends how much money your kid makes at 18 (if any) the trump account conversion to roth ira is a nice little backdoor to that general principle

The smartest way of using a Trump account for your kids: 1 - Contribute as much as you can every year when they are growing up 2 - At the age of 18, it automatically becomes a Traditional IRA At that point, you can start converting it to a Roth IRA Part of the converted amounts (the investment gains) are subject to taxes, but you can stagger the conversion over a few years to keep it tax-efficient 3 - Now, you unlock two big benefits: First, the amount converted is something your kids can access 5 years after conversion both tax-free and penalty-free... at any time, for any reason Secondly, your children now have a massive base in a Roth IRA at a very young age that keeps growing and compounding Left alone, even with no new dollars after age 18, your kids Roth IRA can compound to 8-figures by the time they retire And since it's now in a Roth IRA, they would owe no taxes

Alex Karp never used cheaper subagents controlled by a big expensive agent. “I was too poor,” he said. “And then I was too rich

@BitcoinCarni @EricBalchunas He is #2 all time in assists and steels…. Mid is slander

@Yield_Finder @EricBalchunas *pulls up literally every CP playoff performance*

My NBA to soccer comps: Mbappe is a badass player, earned swagger like Anthony Edwards. Messi is genius clutch magician will get you what you need to win à la Jalen Brunson. Ronaldo is LeBron, amazing physical longevity but so self-aware. How’d I do?

@EricBalchunas I thought you knew ball… how is he mid?

@Yield_Finder Idk man Chris Paul is pretty mid. Messi higher regarded imo. Maybe Steph ?

@DadInvest I believe the correct written formatting is “Jeb!”

How much better are we as a country because Washington had no children? We certainly have dynastic political families (Jeb, please run again!) today but it may have been a curse had the 19th century featured a series of nepo Washingtons over meritocratic top tier people like Lincoln, Polk, and Grant.

@Bouch_X_ @theo It was in limited preview for while and then companies still need to whitelist it.

@theo Isn’t gpt available on Bedrock now?

It's insane how many people I know that mostly use Claude models because their company is on AWS and they're using Bedrock

@ShanuMathew93 @jxnlco 💯

@jxnlco Pro for research leads to way better outputs than codex Even high sometimes on research questions Codex way better at agentic tasks and coding but for raw research and explanation it feels like it rushes through tasks

If you use Codex, is there any reason you still use ChatGPT? what do you use it for? how has it been better or critical for you?