Hal Jam

@doh_in They’ve had twenty years to tweak graphite batteries, and they’re maxed out, the next twenty years will be silicon. He thinks it’s all over on day one. Total idiot.

$ENVX This fool keeps bragging about 985 Wh/L while dismissing AI‑1’s 935, but that figure refers to dual‑cell density. On a single‑cell basis it drops by about 10%. Once you account for the extra space for 32% silicon content, the effective density ends up well below 935 Wh/L.

It's not hard to do this It is just a lot of people lack any form of courage.

@AlperenMic83107 @Richard_X_Roe His $6 puts expired worthless. This is why he’s so desperate and lies and makes stuff up.

@Richard_X_Roe Why the fuck do you care? You don’t own it then why bash it?

$ENVX imbeciles are back to claiming that 100% silicone has 9x the energy potential to unlock. Their poor mistresses... In the mean time, HONOR is touting TDK's ultrathin 985 Wh/L, 32%-percent silicon, having totally forgotten about the fraud Enovix.

“We should ashkually let Congress commit insider trading so they can supplement their incomes.” Have we lost our minds?

🤣🤣

@2percentisfair Still a huge opportunity.

$ENVX I imagine anyone who wanted a meme stock pop is no longer patient here. That’s not what ENVX is. But methodical progress was made 1. Great mfg update/progress 2. NDAA compliant drones will be a huge near term tailwind with no Penang risk at all 3. Glasses in production

@mcinnes_danny The outlook hasn’t changed. They are executing at a glacial pace, but if they succeed the reward remains the same. Sure, the old batteries are doping and getting improvements, but that strategy will reach a limit and 100% silicone has 9x the energy potential to unlock. $ENVX

$ENVX Random thoughts on the Q1 earnings call here, in no particular order. 'It's the hope that kills you' There was enough in the call to keep the bulls interested, but wherever this company is headed it is a very long way from being the vision Enovix had even 2 or 3 years ago. Back then the talk was of ubiquitous demand, 'Agile Manufacturing' and how lasers were an integral part of this. Now, not so much. Their ambitions are diminished: fewer markets and fewer customers. It looks like they can make some money from drones (serendipity is a wonderful thing) but in large part this is because demand has exploded and the market just needs more batteries (CEO said as much himself). Several comments from the CEO wrt Enovix's vertical integration being a strength in drone batteries (as opposed to $AMPX who however has a better product). When is a moat not a moat? Funny how we don't hear about that any more, isn't it? The market has moved on, competitors have improved, Enovix has gone backwards. Meaningful smartphone revenue now confirmed as not happening till 2027 (as predicted). Yields improving but not yet good enough. If you can't hit high 90% region then it messes up gross margins and throughput. Not yet a huge issue since Enovix is still 🤦 a low volume manufacturer. Overall pace is still glacial and the outcome very far from certain. The current valuation is extremely generous. Yes, there are plenty of stocks out there with crazy multiples but they have dreams underpinning them (that enough people still believe in). Too many folks who have been on the Enovix journey are in varying stages of disillusionment. Nothing in here yet to tempt me back.

@Bleacherbum If you want to be cynical you might say we’re invested in drone battery company with a call option for silicone phone batteries.😂. But yeah, if phones don’t work out this stock is still going to be worth something at least.

$ENVX Routejade was the best thing the company has ever done. Only thing making money.

@Richard_X_Roe We’re talking 100% silicon not a blend. You know this but you’re intellectually and factually dishonest, which is why I can’t take anything you say seriously. $ENVX

@hal_jam You don't know much about batteries, do you? Silicon has been used in flagship phones cells since Mar 2023. HONOR was the pioneer, and $ENVX even put that first phone in a Nov 2023 presentation to investors... HONOR knows how to test silicon batteries, but $ENVX is a fraud.

We need clarification on cycles. WTF is TJ saying? $ENVX Based on this they should easily pass the adjusted Honor testing? He must mean they are still trying to pass the old 800 .7c test for other customers? They better clarify this ASAP!

Sounds like they are still trying to hit the old test for other customers, but this is HORRIBLE communication. $ENVX

@gordonliao1997 I think this is correct, but wtf man? Why is he chirping in and causing confusion and giving the shorts ammunition.

@Richard_X_Roe That’s not what they’re claiming. They’re claiming silicon is a new material that behaves differently than graphite so the tests need to be adjusted slightly to let the silicon breathe. This is fair and logical. In terms of cycles they just need to explain.

@hal_jam Enovix own datasheets for EX1M stated 800 cycles at 0.7C. Real phone OEMs are required to test at 0.2C for regulatory purposes, but they do their own stress testing too, as they don't want exploding batteries. The claim by $ENVX is that phone OEMs don't know how to test cells!

@Ahmet_TCakir According to this they do?

Looks like even if they agreed on a new qualification framework with the customer, their battery doesn’t satisfy the cycle life requirement. They are still at 500 cycles. Back to square one. This is ridiculous. $ENVX

Damn, this is so bad it’s good 🤣

@brian_armstrong Crypto grift dying => use AI as an excuse for layoffs => CEO cutting edge

This is an email I sent earlier today to all employees at Coinbase: Team, Today I’ve made the difficult decision to reduce the size of Coinbase by ~14%. I want to walk you through why we're doing this now, what it means for those affected, and how this positions us for the future. Why now Two forces are converging at the same time. We need to be front footed to respond to both. First, the market. Coinbase is well-capitalized, has diversified revenue streams, and is well-positioned to weather any storm. Crypto is also on the verge of the next wave of adoption, with stablecoins, prediction markets, tokenization, and more taking off. However, our business is still volatile from quarter to quarter. While we've managed through that cyclicality many times before and come out stronger on the other side, we’re currently in a down market and need to adjust our cost structure now so that we emerge from this period leaner, faster, and more efficient for our next phase of growth. Second, AI is changing how we work. Over the past year, I’ve watched engineers use AI to ship in days what used to take a team weeks. Non-technical teams are now shipping production code and many of our workflows are being automated. The pace of what's possible with a small, focused team has changed dramatically, and it's accelerating every day. All of this has led us to an inflection point, not just for Coinbase, but for every company. The biggest risk now is not taking action. We are adjusting early and deliberately to rebuild Coinbase to be lean, fast, and AI-native. We need to return to the speed and focus of our startup founding, with AI at our core. What this means To get there, we are not just reducing headcount and cutting costs, we’re fundamentally changing how we operate: rebuilding Coinbase as an intelligence, with humans around the edge aligning it. What does this mean in practice? - Fewer layers, faster decisions: We are flattening our org structure to 5 layers max below CEO/COO. Layers slow things down and create coordination tax. The future is small, high context teams that can move quickly. Leaders will own much more, with as many as 15+ direct reports. Fewer layers also means a leaner cost structure that is built to perform through all market cycles. - No pure managers: Every leader at Coinbase must also be a strong and active individual contributor. Managers should be like player-coaches, getting their hands dirty alongside their teams. - AI-native pods: We’ll be concentrating around AI-native talent who can manage fleets of agents to drive outsized impact. We’ll also be experimenting with reduced pod sizes, including “one person teams” with engineers, designers, and product managers all in one role. In short: AI is bringing a profound shift in how companies operate, and we’re reshaping Coinbase to lead in this new era. This is a new way of working, and we need to leverage AI across every facet of our jobs. To those who are affected I know there are real people behind these decisions — talented colleagues who have poured themselves into this company and our mission. To those of you who will be leaving: thank you. You’ve helped build Coinbase into what it is today, and I am sincerely grateful for everything you've done. All impacted team members will receive an email to their personal account in the next hour with more information, and an invitation to meet with an HRBP and a senior leader in your organization. Coinbase system access has been removed today. I know this feels sudden and harsh, but it is the only responsible choice given our duty to protect customer information. To those affected, we will be providing a comprehensive package to support you through this transition. US employees will receive a minimum of 16 weeks base pay (plus 2 weeks per year worked), their next equity vest, and 6 months of COBRA. Employees on a work visa will get extra transition support. Those outside of the US will receive similar support, based on local factors and subject to any consultation requirements. Coinbase prides itself on talent density. Our employees are among the most talented people in the world, and I have no doubt that your skills and experience will be highly sought after as you pursue your next chapters. How we move forward To the team that is staying, I know this is a difficult day. We’re saying goodbye to colleagues and friends you've been in the trenches with. But here’s what I want you to know as we move forward together: Over the past 13 years, we have weathered four crypto winters, gone public, and built the most trusted platform in our industry. We’ve made it this far by making hard decisions and by always staying focused on our mission. This time will be no different – nothing has changed about the long term outlook of our company or industry. And most importantly, our mission has never been more important for the world. Increasing economic freedom requires a new financial system, and we’re building it. The Coinbase that emerges from this will be more capable than ever to achieve our mission. Brian

Saw a UFO above the White House

"The Strait of Hormuz" by Eddie Cochring

This fake trailer for The Shining practically launched the early YouTube trend of creating wildly misleading trailers for well-known films—and in my opinion, none of the imitators ever quite matched it.

I’ve been holding onto to this for a long time. I always knew.