Gagan Jain

@SamBroner Congratulations Sam!

@santiagoroel Thank you for the huge boost of confidence! We still have a lot to do at WU to achieve our ambitions, but it’s good to see that being recognized in the industry.

I started looking at Western Union because I thought stablecoins would kill it. Then I realized WU is better positioned than almost anyone to leverage them. Brand, distribution, 200+ countries, $923M in EBITDA. The key risk was management. They had been skeptical of stablecoins. I placed the bet in November. Since then WU has not only outperformed Solana but the broader market: WU +2.14% / SPX -6.76% / Nasdaq -11.66% / SOL -56.15% WU is a $2.8B market cap business trading at 6x earnings with a 10% dividend yield. Remitly trades at 50x on a 2.3% operating margin. Wise at 23x. The discount exists because WU revenue is declining 3.8% while both are growing 25%+. I am not fighting that. But at 6x earnings you are paying for zero recovery, zero tech adoption, zero optionality. That is the margin of safety. I was at the @blockworksDAS this week. The WU CEO was on the same stage. Very different energy from the one I had been following. Clear on the stablecoin strategy, talking about flipping negative float into positive float. They have since announced USDPT, their own stablecoin on Solana. For a 175-year-old company to go from skepticism to launching on Solana in under a year is a meaningful shift. Of course, there is plenty of execution risk. The bear case was always that they would not act. They are acting - and that alone warrants a repricing. The math I ran back in November when I placed the bet was: lose ~20-30%, cushioned by $500M in net income and a 10% dividend. Re-rate to Wise multiples and it is 4 to 5x. I am not betting on convergence. I am betting the market prices zero probability of it, and I will get paid for getting a free option. WU is part of a broader thesis that led me to start @inversion_cap: acquiring businesses with distribution at attractive prices. There is a lot of embedded optionality in those businesses. Not all will act in time. Some will die. But the ones that do will meaningfully outperform, and those gains will more than outweigh the losses. You reduce that risk meaningfully when you control that business. The greatest beneficiaries of cost-reducing technology like AI and crypto are not the startups building it. They are the incumbents with distribution that adopt it. WU is one of many. Full piece on Substack: open.substack.com/pub/obviously/… @HadickM double or nothing? Market settles November 1, 2026. DISCL: Long WU. Long SOL. NFA.

“I have always loved that line: “There is no such thing as a baby.” But surely, its logic extends to adults, too. If you set out to describe a person, you do not begin by listing all the things they do alone, when no one is looking. You describe what that person is like in relation to you, or to someone you know. “Is Derek a good friend?” is a question for my friends. “Is Derek a good brother?” is a question for my sister. “Is Derek a turgid writer?” is a question for my readers. A psychologist such as Winnicott might be tempted to articulate this principle with an existential flair: There is no such thing as an individual. But I think the down-to-earth version feels more true: Every individual is the sum of their relationships.” @DKThomp on being a parent: open.substack.com/pub/derekthomp…

BREAKING: @WesternUnion is launching USDPT, a new stablecoin on @solana. @Crossmint will power wallets and payment APIs connected to Western Union's Digital Asset Network. Stablecoins will be redeemable through 360,000 cash locations in 200+ countries. x.com/crossmint/stat…

A huge moment for stablecoins. Crossmint is partnering with @WesternUnion to help bring their USDPT stablecoin on @solana to millions of users. Together, we’ll help connect stablecoin payments to tens of thousands of Western Union on and off ramps worldwide.

@grok @livescore Ok. So if we just look at salaries over the past 5 seasons, who're the top English clubs?

No, the original claim is about wages (salaries), a different metric from net transfer spend (fees paid minus received). Per Transfermarkt (€m, seasons 2016/17 to 2025/26): Arsenal net spend: 1,107 Man City: 1,096 Virtually identical, Arsenal slightly higher. Man Utd tops at 1,346. The wage gap doesn't translate to transfers.

Man City have spent a whopping £870m more than Arsenal on wages in the last 10 seasons 💰👀

@grok @livescore Does the claim in the original post still stand if you look at net spend over thr past 10 seasons?

Over the past 5 seasons (summer 2021 to Feb 2026), top English clubs by net transfer spend (Transfermarkt data): 1. Man Utd: £685m 2. Arsenal: £676m 3. Chelsea: £662m 4. Tottenham: £579m 5. Newcastle: £431m 6. Liverpool: £424m 7. Man City: £398m Big spenders often recoup via sales too.

@tankots @WisprFlow Wispr Flow

We offered 5 people a Porsche 911 GT3 RS if they could get @WisprFlow to make a mistake It's the fastest and most accurate AI voice dictation app that's 3x more accurate than ChatGPT, Claude, or Siri. Today, we’re finally launching on Android. Download now: play.google.com/store/apps/det… As a part of the launch, we’re giving away 6 months of Wispr Flow Pro for free. Like, retweet and comment ‘Wispr Flow’ to get it. Enjoy. — Written with Wispr Flow

It’s happening. What an excellent preview by @SECGov of how tokenized equities can be issued for onchain trading. You are going to see these products in market with the support of a regulator that understands the importance of these innovations to US competitiveness. 1/2

Vlad's critique is on-point - the risk of extreme economic concentration of power and resources in the hands of a few is more immediate and much high-probability than the AI eradicating humanity. However, I don't think @vladtenev's solution for it (expanding public ownership in AI firms) would have any real impact on it.

I'm so tired of people using AI for writing everything, even small status updates. The stupid, "this is not _, it's _" is everywhere. Just saw a LinkedIn post abt an upcoming event & the people speaking there. And there's the line again. "these are not influencers, they are" 🤦

@chuk_xyz Yes. Though I also think it means that we'll see the gradual decline and eventual disappearance of 95% of crypto tokens, including some long standing ones.

Crypto is dead not because it’s disappearing, but because it’s being assimilated I very much agree, and this is kinda the goal once a technology is truly adopted, it stops being a category like the internet or mobile, blockchain becomes an enabling layer rather than the product itself. most companies won’t be “crypto companies” any more than they are “internet” companies they’ll simply use blockchain because it’s the best rail for the job real adoption will be boring, embedded, and invisible and that's success

@sriramk @DavidSacks @dieworkwear Was his suit as well fitted as it is in @dieworkwear's posts?

my favorite @dieworkwear moment this year is meeting the King of Spain who said "You're tall! I like your suit" and I immediately replied "is there anyway I can get you to say it to this person on X" (and he had no idea what I was talking about so I then had to explain to him how he's a clothes icon online)

We received the @dieworkwear treatment! Do you agree that long black ties are “mournful” or simply more contemporary?

@SpiceShorts In the latest Rest is history episode on jack the ripper the hosts mention a few books with Sherlock Holmes and Jack the ripper? Which books?

@michaelharriot Someone need to remind Tucker that the people who were the overwhelming majority of the US population at the time when the Stonehenge was built are only 2.9% of the population now.

Choosing 1945 seems so arbitrary. Oh wait… WW2 wrecked the UK economy. India & Pakistan declared independence in 1947. The British Nationality Act of 1948 fixed this labor shortage by granting citizenship to ppl colonized in the Empire… BECAUSE 99% white England was broke (BTW, the white people didn’t vanish. He just hates that nonwhite ppl exist)

Q - If Eze @EbereEze10 was from Pakistan, what would his younger siblings call him? A - Eze-bhaijaan (get it? Azerbaijan) #PremierLeague #Arsenal #dadjokes #sorrynotsorry

@BeckyCarvatt @cuysheffield @money2020 @Visa @Stablecoin Love this analogy!

The always brilliant @cuysheffield at @money2020 Road to Stablecon: Today- Visa is essentially a L2 that clears 65k transactions a second with perfect privacy- and today we depend on tradfi L1 tech (FedWire, Swift). Future- Blockchains are the nextgen settlement rail. The Visanet L2 is able to execute from authorization to money movement- streaming money, streaming settlement.

@0xAishwary Love this, Aishwary!

What people don't realise is: 1. Polygon has one of the biggest distribution across the world. - Almost all major fintech's across LATAM, Europe, Asia and US support Polygon. - All the top exchanges which matter support on/off ramps on Polygon. - There is on/off ramp support available in over 154 countries on Polygon. - We have one of the highest retail user base (Highest for USDC, 3rd highest for USDT) - We lacked in B2B flows and I can't wait to share the clients we have closed in last 30 days. 2. Killer apps: - @Polymarket is the biggest breakthrough app on Polygon. - @Courtyard_io doing massive flows on NFTs (another massive dApp on Polygon). - @stripe has built all their existing products by default on Polygon. When they do their own - @RevolutApp moves over a 100M every month on Polygon. - There are over 100 payment apps which are using Polygon to move money. 3. Architectural updates: - We already are the cheapest EVM chain on an average across all EVM chains. - With the lastest veBlop upgrade we will have some of the most advanced payment products that will be coming out very soon. - We will be moving towards a GIGA Gas roadmap enabling 100K TPS and currently already support over 1000+ TPS. - AggLayer enables to optimise chains for the use cases we want to support. @katana for DeFi, @0xPolygon on Payments and RWA, @0xMiden for privacy payments, @billions_ntwk for ID, [Redacted] for RWA's coming soon.

@MenInBlazers This pic...

ANFIELD HAS COME ALIVE 🔴⚪️