Facundo Werning

Agents can now do almost anything a human can do with a computer. So what happens when they start spending money on your behalf? @eddylazzarin, @samrags_, @nlevine19, and @rhackett on the open agentic commerce stack, and why the internet's business model is about to get rewired. 00:00 – Intro 01:33 – Two flavors of agentic commerce 04:30 – What is an agent, actually? 12:57 – The headless merchant thesis 17:17 – What happens to existing friction? 24:45 – The economic contract of the web is broken 27:46 – Will agents get distracted by ads? 35:15 – Stablecoins vs. credit cards 41:54 – Sam's bear case on interchange 49:11 – The killer app for agentic commerce

Today, @withAUSD filed its application for Agora National Trust Bank with the Office of the Comptroller of the Currency. Securing this charter would enable Agora to operate in the United States under a unified federal framework and expand its product suite beyond stablecoin issuance. In a few months, Agora will hit its two year anniversary of operating its stablecoin issuance business. Recently, however, we've been heads down to prepare for launching a suite of feature-rich products that go beyond simply issuance. More on that soon. We've long believed that if you want to change the world you need to do the hard things and be the metal. That's why we started with our own stablecoin and it's why we're aiming to secure a bank charter. We recognize the importance of a direct relationship with regulators and management over the infrastructure. Without it, your ceiling is someone else's floor. We're determined to own the entirety of the rails, because you either are the metal, or you lose.

Anti Fund is hiring a Senior Investment Associate. Join @geoffreywoo @jakepaul @loganpaul and help us identify the rebels building tomorrow's category-defining companies. Apply: antifund.com/careers

In honor of 50 years of Apple, we're sharing - for the first time ever - Don Valentine's original 1977 memo for Sequoia's investment into Apple Computer. #Apple50