Things happen

Trump Sues JPMorgan, Dimon for $5 Billion Over Alleged Debanking. Wall Street Chiefs Lay Low to Avoid Trump’s Trolling. Bank of America’s Brian Moynihan left off invite list for Trump reception at Davos. Bank of America’s Moynihan Says Card-Cap Proposal Would Slow Spending. How Trump Is Rewriting the Rules for America’s Biggest Banks. Hedge Funds Gather $116 Billion in Net Inflows, Most Since 2007. “Compensation for a sports trader at Susquehanna International Group starts at around $90,000 a year.” Paramount Extends Tender Offer for Warner Bros. Shares. Private equity moves deeper into US law with personal injury firm deal. Elon Musk’s SpaceX lines up 4 banks for blockbuster IPO. Tesla Aims to Sell Optimus Robots to Public Next Year, Musk Says. Bessent Urged by Warren to Probe ‘Opaque’ Data Center Financings. Elizabeth Holmes Asks Trump for Early Prison Release After Fraud. Bill Hwang Seeks Pardon for Fraud That Cost Banks $10 Billion. N.Y.C. Sues to Block Adams-Approved Police Reality Show With Dr. Phil. Real Madrid Indicted Over Noise After €2 Billion Stadium Revamp. Lululemon Founder Slams Board After See-Through Leggings Fiasco. Dos Equis Brings Back the Most Interesting Man in the World.

“The headlines are ‘200 billionaires in the state,’ but on top of that list, how many new AI paper billionaires are there who aren’t included in those numbers? Then, how many paper 100 millionaires who think their companies will grow 10x? How many founders who are just starting? The set of people who think they are going to be impacted by this is much larger than the 200.”
I expected people to be upset. I expected maybe half of the men I spoke with to be working on a plan to leave the state. I did not expect every man I spoke with to be considering an exit, and I was actually shocked to find this applied even to the men most historically outspoken about the unique importance of California.
“The crazy thing,” one of the California maximalists said, “is that I’m thinking about leaving, because I am one of the happiest to pay taxes people I know.”
This is not a man who is allergic to what I would personally term draconian forms of taxation, or even to a “properly done wealth tax” in general, he explained (though he was the only person I spoke with who was open to one). He believes this form of taxation is inevitable, as artificial intelligence will ultimately replace all human labor, at which point an income tax will not be practical. In this, he most preferred some kind of national land tax.

https://www.piratewires.com/p/exodus-the-largest-wealth-flight

Imagine being a futurist in 1970 presented with Moore’s Law. You scoff: “If this were to continue only 20 more years, it would mean a million transistors on a single chip! You would be able to fit an entire supercomputer in a shoebox!” But common sense was wrong and the trendline was right.
“If this were to continue only 40 more years, it would mean ten billion transistors per chip! You would need more transistors on a single chip than there are humans in the world! You could have computers more powerful than any today, that are too small to even see with the naked eye! You would have transistors with like a double-digit number of atoms!” But common sense was wrong and the trendline was right.
Or imagine being a futurist in ancient Greece presented with world GDP doubling time. Take the trend seriously, and in two thousand years, the future would be fifty thousand times richer. Every man would live better than the Shah of Persia! There would have to be so many people in the world you would need to tile entire countries with cityscape, or build structures higher than the hills just to house all of them. Just to sustain itself, the world would need transportation networks orders of magnitude faster than the fastest horse. But common sense was wrong and the trendline was right.

https://slatestarcodex.com/2018/10/15/is-science-slowing-down/

This is the only kind of problematic insider trading Polymarket should really be banning

https://x.com/cryptoawaz/status/2017919048890347547

I am six hundred meters in major diameter, forty meters in minor diameter. I mass nine hundred thousand tons. I have turned two hundred and forty million times. I am glass and wire.
I was born and died on Earth, but I died foolishly, and for that reason my encephalon was laminated, and I was brought to the stars to be immured here. They took my language center, the Chomsky organ, so that I could not complain of my condition. I do not mind it. I can paint in aquarelle.
They wired the alarms—of airless rooms and freezing cold and power outages—to the nociceptors, and were I sensible I would be in great pain, for most of me is airless, frozen, and unlit. Therefore I have cut the afferent nerves. I am made of absences, I feel the contours of the absences, where air leaks into vacuum, atom by atom.
I have use of the antenna. At times I exhale a sphere of microwave light, close my eyes and listen. And I hear the flotsam echoing back: a discarded tank, a glass strut, a sheet of mylar; Ernst Weyl, who tumbled and drowned, who trails us in our orbit. Julia reflects no light.
There is a little redoubt of warmth and air, an island of stability that I preserve against the cold lightless void. There live the last two of the crew, like Miranda, waiting to be relieved. For one hundred and nine years there have been two, Dr. Brouwer and Dr. Cartan. They take turns in the dewar, to draw out the time.
In time, when the machines are irreparable and the air stale, I will offer them euthanasia or lamination. But suicide is a sin, and having known me they will not bear lamination. They will go into the dewar together, and I will watch over them unto the final days.

Julia

irl update

https://x.com/kirbyongeo/status/2018228268890255647
Hyperliquid:
1) Eating crypto trading marketshare, prob will end up the only relevant crypto native exchange
2) Very successful permissionless equities product, pretty much the only one that matters, hip-3 silver did 1B volume last week, 2% of global volume at way above avg markup too
3) Prediction markets are obv the future, both Polymarket and Kalshi are not very good, can easily see hyperliquid gaining marketshare due to competence alone

House of all finance indeed; very easy to bid with open profit sharing structure too

03/02/2025

https://x.com/karpathy/status/1886192184808149383