Alpha

whenever you feel like you're taking too much risk recall that as PayPal was running out of cash 33-year-old Peter Thiel tried to transfer what remained to his LARP hedge fund so he could go long Treasuries

You don’t need VC or PE to reindustrialize. Neither are fit for purpose. You need a State Bank—run by private sector domain experts—with unlimited fiscal authority, independent of congress or the Fed, built on MMT principles (crucial). Watch this: say USG creates a new American Industrial Renaissance Bank (AIRB). To capitalize it, it makes a deal with US treasuries holders: swap $500B of your treasuries for shares in AIRB in exchange for more yield. Boom, AIRB can instantly deploy at least $5T in capital, with trillions more that can be created if resources are there to match. No VC, no PE, no new “debt” issued (in fact on paper the debt has been “reduced”), no appropriations debates nonsense. Because the “national debt” isn’t debt. It’s fake. In fact it’s an asset. You’ve been duped by bullshit fiscal hawkishness—the worst of all mind viruses. The biggest irony is that the tools needed to reindustrialize America are all anathema for fiscal hawks and market fundamentalist tech libertarians who make the bulk of the founders/VCs in this space (Elon is a perfect example). The reality is capital isn’t scarce. Never has been. America is the world reserve currency. It cannot default, it never will. No sovereign issuer of a free floating currency has ever defaulted, ever, not even Japan in the 80s. Also, inflation isn’t caused by money printing. Too much money chasing too few RESOURCES causes inflation. If you can resource it, you can print it. And right now America has tons of both human and natural resources sitting idle, underutilized, misallocated. There’s a lot of SLACK in the US economy. Tariffs are a loser side show. The question is: do you have the political will to kill the Austrian fiscal demon on your shoulder, embrace MMT, and take reindustrialization seriously? Clock’s ticking.

America has the world's best financial markets, and this can be rapidly converted into industrial capacity if the will exists. JPMorganChase's announcement today is a great signal of that will materializing.

I’ve been rejected by YC 7 times. In that time: - i built and sold a startup - i built a following of over 400k devs - i learned what i enjoy doing and what i don’t - i’ve learned more about building, business, and marketing than any job or school could have ever taught me - talked to and learned from some of the greatest minds of our time normalize failing in public, and normalize finding a way through even when the people you look up to don’t see what you see

NEW: The new National Defense Strategy has been delivered to SecDef Hegseth for review, and places homeland security over deterring China has the Pentagon’s primary mission. Not everyone in the Pentagon thinks that’s a good idea.