Jonatan Raknes retweetledi
Jonatan Raknes
3K posts

Jonatan Raknes
@jbraknes
Investments & Venture Capital. Economics, megatrends & politics. Retweet’s are not endorsements.
Oslo, Norge Katılım Şubat 2014
899 Takip Edilen1.1K Takipçiler
Jonatan Raknes retweetledi
Jonatan Raknes retweetledi
Jonatan Raknes retweetledi

As labor becomes increasingly automated by ai and robotics, wages lose relevance relative to asset ownership.
Wealth will not be defined by income. It will be defined by control of infrastructure like energy, compute, collateral, distribution, and coordination systems.
In this environment, Bitcoins role strengthens for three fundamental reasons:
1. it preserves value in a world of declining marginal production costs
2. it enables settlement between sovereign actors and machines without reliance on a central issuer
3. it serves as pristine collateral for credit creation and long-duration capital formation
Its role as a medium of exchange expands where it matters most: machine to machine commerce, treasury reserves, cross-border settlement, and autonomous trade. Human consumption may remain abstracted from base units, but underlying systems increasingly rely on neutral settlement layers.
The structural implication is a layered monetary system:
- reserve collateral = Bitcoin
- transactional liquidity = credit systems and local rails
- productive assets = energy, compute, robotics, and land
In an automated economy, the system that settles value without trust becomes the system everything else builds on.
Bitcoin can be that layer.
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Jonatan Raknes retweetledi
Jonatan Raknes retweetledi

"Our head count in Manhattan when I got to JPMorgan was 35,000 and now is 26,000. Our head count in Texas started at 11,000, now it's 33,000. That's what happens."
Jamie Dimon on why companies are leaving New York:
"Highest individual taxes, highest estate taxes, highest corporate taxes, anti-business sentiment."
"When I grew up as a kid in New York City, there were 120 of the Fortune 500 headquarters there. In the 1970s, 60 of the 120 left, including Exxon, GE, IBM, Union Carbide. They're all going to Texas."
The Hill & Valley Forum 2026
@HillValleyForum @jpmorgan @ChairmanG
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Jonatan Raknes retweetledi

This is the best part from Pierre Poilievre appearance on the Diary of a CEO podcast;
"Those who push a socialist ideology have a gross contradiction in their view of human nature.
They say that human beings are wretched, self-interested, greedy when they’re in the private voluntary economy, but they’re angels when they’re in the governmental economy.
They argue that the government should just control everything because then we have all these angels that will decide for us."
🎯
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Jonatan Raknes retweetledi

Mens vi venter på kjernekrafttreneringsutvalget: "er Europa igjen i en energikrise. Det er bare fire år siden den forrige, og likevel står kontinentet på ny påfallende uforberedt. Belgias statsminister har åpnet for igjen å kjøpe russisk gass. Samtidig har EU-kommisjonen omsider erkjent det som burde vært åpenbart lenge: Skal Europa ha et robust og utslippsfritt energisystem, kommer man ikke utenom en betydelig satsing på kjernekraft."
riksnytt.no/latest/mer-av-…
Norsk
Jonatan Raknes retweetledi
Jonatan Raknes retweetledi

Europe is on a path to destroying itself.
Unchecked immigration of millions of immigrants that burden their welfare states, bring violence and terrorism to their shores, and take over local governance, one city at a time.
Anti-capitalist policies that make it difficult for businesses to adapt their workforces to a rapidly changing competitive environment now accelerating due to AI.
A business environment and tax regime that is antithetical to startups.
The absence of any progress or innovation in AI and limited access to the compute necessary to compete.
Energy dependence due to the green movement at a moment when energy demands are rapidly increasing.
And now, the abandonment of the U.S. when we have asked for limited assistance — base access and flyover rights — in the midst of our efforts to eliminate Iran’s nuclear and ballistic threat which is already within striking range of Europe, after we have invested nearly $200 billion in helping Ukraine.
NATO is about to be toast. Europe’s defense burden is about to rise massively while their economies continue to fall further and further behind.
In short, Europe needs to wake up before it is too late, and it may very well be too late.
Bill Ackman@BillAckman
An important read on Europe and NATO.
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Jonatan Raknes retweetledi
Jonatan Raknes retweetledi


Europe need the U.S. for deterrence against Russia. So until they get there own defense act together they need to play along to some degree, irrespectively what they thing about Trump and Kushner. Refusing these small gives make any discussion with US regarding Ukraine meaningless - which is a huge mistake when Russias ally Iran is severely militarily degraded and the Russia are activate helping Iran (to Pentagon huge frustration). By joining the fight against Iran Europe could turn the momentum around Ukraine. Instead we have leaders which seem prioritized virtue signaling Trump hate over any strategic thinking.
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@jbraknes But aren’t all complicit? If one nato member gets attacked all gets attacked vice versa, so, why let Trump’s uncrowned foreign minister Kushner & Co dictate with American foreign affairs in the Middle East?
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Jonatan Raknes retweetledi
Jonatan Raknes retweetledi
Jonatan Raknes retweetledi
Jonatan Raknes retweetledi

Saw some people panicking or asking about quantum computing's impact on crypto.
At a high level, all crypto has to do is to upgrade to Quantum-Resistant (Post-Quantum) Algorithms. So, no need to panic. 😂
In practice, there are some execution considerations. It's hard to organize upgrades in a decentralized world. There will likely be many debates on which algorithm(s) to use, resulting in some forks.
And some dead project may not upgrade at all. Might be a good to cleanse out those projects anyway.
New code may introduce other bugs or security issues in the short term.
People who self custody will have to migrate their coins to new wallets.
This brings to the question of Satoshi's bitcoins. If those coins move, then it means he/she is still around, which is interesting to know. If they don't move (in a certain period of time), it might be better to lock (or effectively burn) those addresses so that they don't go to the first hacker who cracks it. There is also the difficulty of identifying all his addresses, and not confuse with some old hodlers. Anyway, it's a different topic for later.
Fundamentally:
It's always easier to encrypt than decrypt.
More computing power is always good.
Crypto will stay, post quantum.
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Jonatan Raknes retweetledi

@udiWertheimer @satsbaconmoto @saylor Nuts if you think you gonna pay 6% interest in a traditional margin loan, viable in a preferred share structure with 11%+ cash rate and attractive taxation…
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if elon tried to borrow $100 billion dollars in cash, collateralized by his TSLA shares alone and no other form of collateral, he’d be laughed out of the room
saylor hopes to collateralize $25B worth of STRC with what would be around $75B-$100B worth of BTC which would be like 6%+ of the supply
that’s nuts
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strategy holds $50 billion worth of btc
the problem: it's not really worth $50B
if @saylor ever tries to sell, he'll get no more than $20B for it. probably less
every additional dollar he puts into btc from now on is lost forever. he already has more btc than he can ever sell

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