nbonga
831 posts
General Catalyst just co-led a $31.5 million seed round into a blatant rip-off of my company, Kled.
(skip to 40 seconds if you want to skip context)
I would typically not speak on things like this, but this level of blatant copycatting is egregious and completely unacceptable, and needs to be made an example of.
This is one of hundreds of YC startups who have conducted this disgusting behavior. Unimaginative slop that continues to get rewarded due to nepotism.
Yuri Sagalov@yuris
Super excited to colead @LuelCompanyAI’s $31.2M seed round. There are certain teams you meet where you know within 5 minutes that you want to partner with them Luel is one of those team. William and Inigo are incredibly ambitious founders who understand the human data bottleneck from the inside out. They've built Luel to create a scalable, reliable supply of that data — something that will be foundational to the next generation of AI.
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@Robotbeat smart move. flips some of the insane capex into revenue and is proof of concept
bull case will be more and more obvious as the challenges with terrestrial data centers compound
he's gonna do it again
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A huge part of the Xai acquisition was ending the cash bonfire of scale-up… by pivoting the beyond-Gigawatt-scale stuff to orbit, meanwhile renting out capacity not strictly needed. Elon is good at wiggling out of jams, and Gwynne is VERY good at keeping cashflow under control.
Emad@EMostaque
This likely costs about ~$500m a month, ~$6bn a year to rent blended Which is about the run rate net loss of xai end of q1 Anthropics revenue run rate was $9bn end of 2025, $30bn a month ago
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BlackRock CEO Larry Fink predicts a compute futures market.
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Read the Market Wizards chapter on Kristjan Kullamägi this weekend. The one section that really stood out was when he discussed his drawdown off of his 2021 peak.
"I started 2020 with $3.5 million and ended the year at $36 million. It was a thousand percent year. Then I ran that $36 million to a high of $105 million, and the last portion of that move from $65 to $105 million occurred in just a month and a half. For a brief period, just a few days, I was over $100 million. You have to understand what that did to my psyche. It made me feel completely detached from reality. I thought, “I’m going to get to $200 million in six months.” I was completely sure of that. I started seeing trading as a video game, which I kept winning.
Measured from my $105 million peak in November 2021 to my mid-2022 low, I lost approximately $60 million. About half of that loss represented the late 2021 retracement of the large open profits at the November peak to the stops on those positions. The initial retracement loss was so large because I was leveraged long at my peak. My long exposure was $150 million—a number I recall because I remember bragging about it to a friend"
These boom and bust type tales are as old as time. Look at Jessie Livermore as the classic example. Net worth of $0 in 1906 to a peak of $1.6 billion (inflation adjusted to 2021 dollars) in 1929. Just 5 years later he blew up and owed $104 million dollars to his brokers...
Or look at Paul Tudor Jones. Hit one of the most legendary trades in history, making roughly $200 million dollars during the 1987 crash. It cemented him as a legend. His mental coach Tony Robbins said that Jones consistently lost money for the next 4 years after that peak.
Dan Zanger parlayed $10,000 into $42 million during the late 90's. Then in late 2000 he took a 70% drawdown when he was 200% long 3-4 fiber optic stocks as the dot-com bubble was popping.
Charles Harris reached 8-figures status after he ran up his account over 4,000% from 2020-21, then experienced a -80% drawdown, mostly due to his big TSLA bet in 2021-2022.
I have seen a few people speculating on Kristjans story from the outside. Saying "I would have stopped trading at $100 million" or "I would have just taken that money and started investing". To those people I ask if you have ever experienced a real euphoric run in your trading account, let alone turning 5k into 100mil? Extreme winning streaks like the ones above breed overwhelming euphoria and overconfidence. The mind shifts its focus from process to outcomes, with ego-driven decisions overriding risk parameters and rules. From my experience I have found it near impossible to be aware of this at the peak of the run. It is almost like you are blacked out and the greed/ego completely takes over your trading.
Then the drawdown begins. The emotions shift from euphoria and greed to revenge, fear, and doubt. This is where things can really start to spiral out of control. It is only after the drawdown has run its course that you finally come back to your senses and your emotions drift back towards baseline levels. Then all you're left with is regret...
Few people ever talk about what a big winning streak can do to you. It can literally change the way you think and operate. Often the ability to achieve super returns is also its biggest drawback—a true double-edged sword. To be able to conquer both sides is the holy grail...
From the Hour Between Dog and Wolf by John Coates:
"When traders enjoy an extended winning streak they experience a high that is powerfully narcotic. This feeling, as overwhelming as passionate desire or wall-banging anger, is very difficult to control. Any trader knows the feeling, and we all fear its consequences. Under its influence we tend to feel invincible, and put on such stupid trades, in such large size, that we end up losing more money on them than we made on the winning streak in the first place. It has to be understood that traders on a roll are traders under the influence of a drug that has the power to transform them into different people."
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My mom just told me she paid for ChatGPT
This shouldn't be legal
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today is a turning point for $PUMP and pump fun
I want to give more context on the bigger picture and where we're actually going.
over the past ~9 months, 100% of revenue went into buybacks. basically no other platform in crypto has done that at this scale.
however, we received ongoing feedback specifically on the feeling of a lack of trust - in the certainty of buybacks, in what would happen to the bought-back tokens, even in whether the business itself would be here in a year.
today, we’re changing that.
it started with burning ~$370M worth of $PUMP purchases. ~36% of the circulating supply removed from circulation, forever.
but that isn’t enough. we’ve also allocated 50% of our next year of revenue to programmatic buybacks & burns. no more uncertainty for those who believe in us & those we’re proud to call our community.
but why not 100%? the short answer is the business simply needs the other 50% to grow.
a large treasury gives us the flexibility to make big bets over the next 5-10 years, and 50% of ongoing revenue enables us to build better products, infrastructure & reinvest into the ecosystem. I am extremely confident that 50% of the business we're building toward will dwarf 100% of the business we have today.
Pump.fun@Pumpfun
The future of $PUMP We have burned ALL bought back $PUMP tokens, around $370M worth of purchases (~36% of circulating supply), to gain trust with our community. On top of that, we have initiated a programmatic buyback *and burn* scheme at 50% of revenue for the next year to instill trust, predictability, and sustainability for the underlying ecosystem - and to remove as much of the supply from circulation as possible. $PUMP is changing; for the better of token holders, the team and the ecosystem. Learn more about why we’ve made these decisions and where we’re headed next 👇
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nbonga retweetledi
*TESLA 1Q FREE CASH FLOW $1.44B, EST. NEGATIVE $1.86B
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