Jay

2.6K posts

Jay

Jay

@jaypatel

cofounder of @lygosFinance | ex @anchorage bitcoin, markets, credit, interesting things

Katılım Ekim 2013
1K Takip Edilen320 Takipçiler
Jay
Jay@jaypatel·
@dlawant Structural bid from inclusion in indices, insiders/pre-ipo investors who are not planning on dumping (unlike most TGEs), a growing (albeit expensive) business underlying
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David Lawant
David Lawant@dlawant·
Fam, help me out here: Imagine a company IPOs at a $1.75–2.00 trillion fully-diluted valuation, but raises only $80 billion and has potentially 40% of total shares unlocking within the first 90 days. How does that not trade like the high FDV / low float TGEs?
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Jay
Jay@jaypatel·
@max_spero_ I remember thinking CAS was a cheat code. Times have changed
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Max Spero
Max Spero@max_spero_·
legendary pull on facebook marketplace
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Jay
Jay@jaypatel·
@pitdesi How does the SpaceX discount/ramp up effect the cost for Anthropic
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Sheel Mohnot
Sheel Mohnot@pitdesi·
For every $1 OpenAI made in Q1 ($5.7B), it lost $1.22. For every $1 Anthropic makes in Q2 ($10.9B), it expects to make 5 cents in operating profits. (don't have OpenAI Q2 data nor Anthropic Q1 to compare apples to apples)
Sheel Mohnot@pitdesi

Anthropic exp $10.9B Q2 revenue, up from $4.8B in Q1, and $559M of operating profit for the Q. Compute is 56 cents per dollar of revenue, lower than I expected. Q2 projection: $10.9B revenue -$6.1B compute -$2.7B sales & marketing -$1.5B other costs =$559M operating income

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Jay
Jay@jaypatel·
@YIMBYLAND Kalispell is up there
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Jay
Jay@jaypatel·
@Leishman @jlppfeffer I’m confused why all the Ethereum supporters are so sad. They built a distributed network that allows anyone to transact at low cost. Now all of a sudden they are upset that ETH the asset, that has little value capture and limited moneyness vs bitcoin isn’t increasing in price.
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Jay
Jay@jaypatel·
@pcshipp Inject with 1pass
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pc
pc@pcshipp·
Is it safe to share .env file with AI coding tools like Codex or Claude Code? How do you handle secrets in your projects?
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Jay
Jay@jaypatel·
how can you "not have time" to cook, but have time to spend 10+ hours a week on social media. do you really believe the average low income doordash consumer is working 80+ hours a week? almost every successful hardworking person I know manages to eat well and exercise (many while having multiple kids)
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Taylor Lorenz
Taylor Lorenz@TaylorLorenz·
@janecoaston I know this is hard to grasp Jane, but the same poor people ordering food are also often delivering it!! Believe it or not, many poor people do not have the free time that a Crooked Media Podcaster has to leisurely concoct home cooked meals for their whole family.
Taylor Lorenz@TaylorLorenz

The poorest ppl often don’t have the capacity to make home cooked meals for many reasons, but that’s not stepping “leftists” for advocating to deny poor people access to pre cooked meals and things like rotisserie chicken. They cannot ever imagine a better world! It’s incredible

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Jay
Jay@jaypatel·
@jonwu_ this is the truth
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Jon Wu
Jon Wu@jonwu_·
idk who needs to hear this but stop trying to get into film just buy a fujifilm camera it's cute to tote around a vintage nikon. it's not cute to spend $2 or $3 a shot when you're just getting into photography get a fujifilm. it doesn't matter which one, if you like it you can upgrade later x100 x-t5 x-t50 target $1,000 for camera + lens. sounds like a lot but that's only 300 shots on a film camera. 10 rolls. add a few film simulation recipes. start with "Reggie's Portra" (google it). follow the steps. punch it into the camera. set it to auto and just blast away. you'll see immediately that it's vastly superior to the iPhone camera fujis are especially good for people photos, the color rendering on skin is magical your wife will especially appreciate this purchase. this is an approved hobby good luck
Jon Wu tweet mediaJon Wu tweet mediaJon Wu tweet mediaJon Wu tweet media
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Jay
Jay@jaypatel·
@0interestrates Code is an abstraction, writing is directly consumed
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rahul
rahul@0interestrates·
why do people (including me) have an aversion to AI writing but not as much to AI code? if a piece of text smells AI i stop reading it but i use things coded entirely with AI every day
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Jay
Jay@jaypatel·
Once public, SpaceX would be the 7th largest bitcoin treasury ahead of Coinbase
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L0la L33tz
L0la L33tz@L0laL33tz·
While you weren't paying attention, Trump just signed an Executive Order to expand the Bank Secrecy Act. The order will likely disproportionately affect green card holders, naturalized citizens, and low income households. Take this as your monthly reminder that the BSA is a piece of garbage that should burn in hell along with Richard Nixon.
The Rage@theragetech

🚨NEW: TRUMP EO EXPANDS BANK SECRECY ACT Donald Trump has signed an Executive Order to expand the BSA that is likely to disproportionately affect naturalized citizens, green card holders, and low income households. Full story👇 therage.co/trump-executiv…

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The New York Times
The New York Times@nytimes·
Breaking News: James Murdoch is buying New York magazine, Vox Media’s podcast network and the Vox website for more than $300 million, a dramatic expansion in U.S. media for the younger son of the media mogul Rupert Murdoch. nyti.ms/4fxHkF6
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Jay
Jay@jaypatel·
I don’t control the algorithm. But yes it’s a bad look for both Swan and Strike, because even a semi-competent risk team would have shut down any relationship with Prime, let alone one that had insider info months predating the bankruptcy. Unfortunately like many treasury companies they put marketing over substance
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Hobart
Hobart@starkandlime·
@jaypatel Imagine tweeting this and not looking at your own cofounders tweets :-/
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Jay
Jay@jaypatel·
My guess is Swan and Strike will try to play revisionist history saying that customer assets were assumed to never be part of the bankruptcy estate (for a state chartered trust), even though that was a hotly debated and generally ambiguous point in 2022.
Will Foxley@wsfoxley

.@SwanBitcoin is now on the unfortunate end of bankrucpty law, with nearly $1 billion of former customer funds in the balance. Per the litigation, Prime Trust is seeking to clawback ~12K $BTC that left the custodian days before the company began to wind down operations. Now the estate behind Prime Trust's Chapter 11 wants those assets back as part of its Chapter 11 process. 🥶

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Eric Yakes
Eric Yakes@ericyakes·
Oh you follow current events let’s hear you pronounce Qatar
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Jay
Jay@jaypatel·
@Melt_Dem “prediction markets”
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Meltem Demirors
Meltem Demirors@Melt_Dem·
need thematic ETF - permanent underclass - Costco - Campbell’s soup - Bob’s discount furniture - Dollar General - Carvana - Klarna - Predatory payday lending what else
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Rob Hamilton
Rob Hamilton@Rob1Ham·
Custody Tier List: S Tier: Self Custody A Tier: Segregated Account or Proof of Reserves F Tier: Anything Else At @AnchorWatch, we can do accounts and PoR. If someone custodies your bitcoin, get commitments on timelines to upgrade to A tier, or move. No shortcuts on custody.
🏔Adam🏔@denverbitcoin

@TFTC21 @Nneuman I just had to put a red line here so people could understand that when above the red line they DID have enough on-hand for deposits…and it’s only maybe 15% of the time lol

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Jay
Jay@jaypatel·
@Rob1Ham Agreed, which is why self custody or at the very least segregated custody where you can conduct your own audit are necessary
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Rob Hamilton
Rob Hamilton@Rob1Ham·
@jaypatel No regulators anywhere do this stuff, technology is always decades ahead of legislation
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Rob Hamilton
Rob Hamilton@Rob1Ham·
Why is prime trust below reserves for their bitcoin years before the $80M ETH loss incident in 2021? What is that wick being short 1200 btc about?
🏔Adam🏔@denverbitcoin

@TFTC21 @Nneuman I just had to put a red line here so people could understand that when above the red line they DID have enough on-hand for deposits…and it’s only maybe 15% of the time lol

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Keşfet

@dlawant @max_spero_ @pitdesi @YIMBYLAND @Leishman @jlppfeffer @pcshipp @janecoaston