Offshore
Photo
The Transcript
Klarna CEO @klarnaseb: "The number of our banking consumers has doubled in the past year, generating more than three times the revenue of our average consumers."
$KLAR: -15% Pre-Market https://t.co/ejFVtsAzhJ
tweet
Klarna CEO @klarnaseb: "The number of our banking consumers has doubled in the past year, generating more than three times the revenue of our average consumers."
$KLAR: -15% Pre-Market https://t.co/ejFVtsAzhJ
tweet
Javier Blas
Paraphrasing a senior energy official attending the IEA ministerial meeting:
‘…We’re meeting at a time of huge political upheaval for oil: Venezuela, Iran… And, amazingly, oil prices aren’t a big concern for everyone here. It’s $70 a barrel and not $100-plus a barrel…’
tweet
Paraphrasing a senior energy official attending the IEA ministerial meeting:
‘…We’re meeting at a time of huge political upheaval for oil: Venezuela, Iran… And, amazingly, oil prices aren’t a big concern for everyone here. It’s $70 a barrel and not $100-plus a barrel…’
tweet
Offshore
Photo
The Transcript
Wayfair CEO: "We had our third consecutive quarter of new customer growth, on top of healthy growth in repeat orders, all in the face of a category that contracted in the low single digits for the final quarter of the year. "
$W: -7% Pre-Market https://t.co/6sQbMZdabc
tweet
Wayfair CEO: "We had our third consecutive quarter of new customer growth, on top of healthy growth in repeat orders, all in the face of a category that contracted in the low single digits for the final quarter of the year. "
$W: -7% Pre-Market https://t.co/6sQbMZdabc
tweet
Offshore
Photo
The Transcript
Lemonade CEO: "Our first quarter results were strong, headlined by accelerating growth alongside healthy loss ratios and stability in our expense base."
$LMND: +12% Pre-Market https://t.co/a7NIXOaIm9
tweet
Lemonade CEO: "Our first quarter results were strong, headlined by accelerating growth alongside healthy loss ratios and stability in our expense base."
$LMND: +12% Pre-Market https://t.co/a7NIXOaIm9
tweet
Offshore
Photo
God of Prompt
RT @godofprompt: 🚨 Holy shit… Google just published one of the cleanest demonstrations of real multi-agent intelligence I’ve seen so far.
Not another “look, two chatbots are talking” demo.
An actual framework for how agents can infer who they’re interacting with and adapt on the fly.
The paper is “Multi-agent cooperation through in-context co-player inference.”
The core idea is deceptively simple:
In multi-agent environments, performance doesn’t just depend on the task.
It depends on who you’re paired with.
Most current systems ignore this.
They optimize against an average opponent.
Or assume fixed partner behavior.
Or hard-code roles.
Google does something smarter.
They let the model infer its co-player’s strategy directly from the interaction history inside the context window.
No retraining, separate belief model and no explicit opponent classifier.
Just in-context inference.
The agent observes a few rounds of behavior. Forms an implicit hypothesis about its partner’s type. Then updates its own strategy accordingly.
This turns static policies into adaptive ones.
The experiments are structured around cooperative and social dilemma games where partner types vary:
Some partners are fully cooperative.
Some are selfish.
Some are stochastic.
Some strategically defect.
Agents without co-player inference treat all partners the same.
Agents with inference adjust.
And the performance gap is significant.
What makes this paper uncomfortable for a lot of current “multi-agent” hype is how clearly it shows what real coordination requires.
First, coordination is not just communication. It’s modeling the incentives and likely actions of others.
Second, robustness matters. An agent that cooperates blindly gets exploited. An agent that defects blindly loses cooperative gains. The system must dynamically balance trust and caution.
Third, adaptation must happen at inference time. In real deployments, you cannot retrain every time the population changes.
The most interesting part is that this capability emerges purely from structured context.
The model isn’t fine-tuned to classify opponent types explicitly. It uses behavioral traces embedded in the prompt to infer latent strategy.
That’s belief modeling through language.
And it scales.
Think about where this matters outside toy games:
Autonomous trading systems reacting to different market participants.
Negotiation agents interacting with unpredictable humans.
Distributed AI workflows coordinating across departments.
Swarm robotics where teammate reliability varies.
In all these settings, static competence is not enough.
Strategic awareness is the bottleneck.
The deeper shift is philosophical.
We’ve been treating LLM agents as isolated optimizers.
This paper moves us toward agents that reason about other agents reasoning about them.
That’s recursive modeling.
And once that loop becomes stable, you no longer have “a chatbot.”
You have a participant in a strategic ecosystem.
The takeaway isn’t that multi-agent AI is solved.
It’s that most current systems aren’t even attempting the hard part.
Real multi-agent intelligence isn’t multiple prompts in parallel.
It’s adaptive belief formation under uncertainty.
And this paper is one of the first clean proofs that large models can do that using nothing but context.
Paper: Multi-agent cooperation through in-context co-player inference
tweet
RT @godofprompt: 🚨 Holy shit… Google just published one of the cleanest demonstrations of real multi-agent intelligence I’ve seen so far.
Not another “look, two chatbots are talking” demo.
An actual framework for how agents can infer who they’re interacting with and adapt on the fly.
The paper is “Multi-agent cooperation through in-context co-player inference.”
The core idea is deceptively simple:
In multi-agent environments, performance doesn’t just depend on the task.
It depends on who you’re paired with.
Most current systems ignore this.
They optimize against an average opponent.
Or assume fixed partner behavior.
Or hard-code roles.
Google does something smarter.
They let the model infer its co-player’s strategy directly from the interaction history inside the context window.
No retraining, separate belief model and no explicit opponent classifier.
Just in-context inference.
The agent observes a few rounds of behavior. Forms an implicit hypothesis about its partner’s type. Then updates its own strategy accordingly.
This turns static policies into adaptive ones.
The experiments are structured around cooperative and social dilemma games where partner types vary:
Some partners are fully cooperative.
Some are selfish.
Some are stochastic.
Some strategically defect.
Agents without co-player inference treat all partners the same.
Agents with inference adjust.
And the performance gap is significant.
What makes this paper uncomfortable for a lot of current “multi-agent” hype is how clearly it shows what real coordination requires.
First, coordination is not just communication. It’s modeling the incentives and likely actions of others.
Second, robustness matters. An agent that cooperates blindly gets exploited. An agent that defects blindly loses cooperative gains. The system must dynamically balance trust and caution.
Third, adaptation must happen at inference time. In real deployments, you cannot retrain every time the population changes.
The most interesting part is that this capability emerges purely from structured context.
The model isn’t fine-tuned to classify opponent types explicitly. It uses behavioral traces embedded in the prompt to infer latent strategy.
That’s belief modeling through language.
And it scales.
Think about where this matters outside toy games:
Autonomous trading systems reacting to different market participants.
Negotiation agents interacting with unpredictable humans.
Distributed AI workflows coordinating across departments.
Swarm robotics where teammate reliability varies.
In all these settings, static competence is not enough.
Strategic awareness is the bottleneck.
The deeper shift is philosophical.
We’ve been treating LLM agents as isolated optimizers.
This paper moves us toward agents that reason about other agents reasoning about them.
That’s recursive modeling.
And once that loop becomes stable, you no longer have “a chatbot.”
You have a participant in a strategic ecosystem.
The takeaway isn’t that multi-agent AI is solved.
It’s that most current systems aren’t even attempting the hard part.
Real multi-agent intelligence isn’t multiple prompts in parallel.
It’s adaptive belief formation under uncertainty.
And this paper is one of the first clean proofs that large models can do that using nothing but context.
Paper: Multi-agent cooperation through in-context co-player inference
tweet
Offshore
Photo
anon
EBRAIN $6599.T - ¥4.5bn ($30mm) mcap; 2.7x ev/ebit 12.5% ebit margins with exposure to SPEs via backplanes, etc.; rail signals; and defense. 1H defense rev up 35.8%, power infra up 38.7% y/y = inflection. rail signals also likely to inflect due to JR price hike -> capex ramp. https://t.co/4bEZ6R4a1E
tweet
EBRAIN $6599.T - ¥4.5bn ($30mm) mcap; 2.7x ev/ebit 12.5% ebit margins with exposure to SPEs via backplanes, etc.; rail signals; and defense. 1H defense rev up 35.8%, power infra up 38.7% y/y = inflection. rail signals also likely to inflect due to JR price hike -> capex ramp. https://t.co/4bEZ6R4a1E
tweet
Offshore
Photo
The Transcript
$CVNA: -10% Pre-Market
tweet
$CVNA: -10% Pre-Market
Carvana CEO: "In 2025, Carvana grew 43% Y/Y, delivered record unit economics, and passed significant value back to customers through better selection, faster delivery times, and lower cost"
$CVNA: -23% AH https://t.co/8zPj06f1l8 tweet
Offshore
Photo
The Transcript
Deere CEO: "“While the global large agriculture industry continues to experience challenges, we’re encouraged by the ongoing recovery in demand within both the construction and small agriculture segments"
$DE: +6% Pre-Market https://t.co/WKdwkGo1H1
tweet
Deere CEO: "“While the global large agriculture industry continues to experience challenges, we’re encouraged by the ongoing recovery in demand within both the construction and small agriculture segments"
$DE: +6% Pre-Market https://t.co/WKdwkGo1H1
tweet
Offshore
Video
memenodes
Her: "Babe I'm not lying, for real I was with Sarah last night"
Him that spent the night with Sarah: https://t.co/o2indDH9x3
tweet
Her: "Babe I'm not lying, for real I was with Sarah last night"
Him that spent the night with Sarah: https://t.co/o2indDH9x3
tweet
Offshore
Video
Dimitry Nakhla | Babylon Capital®
Bill Ackman on navigating adversity:
“I learned this method for dealing with these kind of moments, which is you just make a little progress every day… And progress compounds a bit like money compounds… Just keep making progress.”
The Lesson: In periods of real difficulty, make a little progress every day — on the problem, the work, your health, your relationships, your life. Early on, it feels like nothing is changing until one day you look back and realize you’ve moved a mile.
___
1️⃣ Family & Good friends
Ackman mentions walks at night with a friend. Support from his sister and parents. This part is deeply underrated. Many people take for granted the power of unconditional love, friendship, and genuine human connection.
In the most difficult moments of life, these relationships provide a layer of warmth & comfort that nothing else can replicate. Not success. Not money. Not intellect. Just knowing there are people who love you, who anchor you, who stabilize you when your own mind and body is under pressure.
___
2️⃣ Exercise & Weightlifting
Physical stress is one of the most reliable regulators of mental stress. Movement improves mood, cognition, resilience because it directly impacts brain chemistry.
When life feels mentally overwhelming, working on yourself physically is often one of the most practical, grounding interventions available.
___
3️⃣ Meditation
Ackman specifically references Transcendental Meditation (TM).
Mechanism aside, the benefit is clear: reduced stress, improved clarity, quieter mental noise.
In environments of uncertainty, mental stillness becomes a performance advantage.
___
4️⃣ The Beauty of Life
What’s striking is that many of the most powerful stabilizers are things money can’t buy.
Naval Ravikant said it best:
“A fit body, a calm mind, a house full of love. These things cannot be bought — they must be earned.”
That’s the beauty of life — wealth doesn’t shortcut what truly matters. The most valuable variables are earned, not purchased.
___
5️⃣ Progress Compounds
Small daily progress feels invisible at first. Then undeniable in retrospect. The compounding effect applies to life just as it does to capital.
The critical part is simply to start. Even small progress counts.
___
6️⃣ Let the Past be the Past
This is a deeply important psychological insight — especially for entrepreneurs.
Psychologically, you need to let the past be the past. Focus on moving forward. Many people anchor their emotions or attach them to prior highs — and that shouldn’t be the case.
Staring at where you “used to be” creates frustration, friction, and hesitation. Progress requires forward orientation. The past is reference — not an anchor.
___
7️⃣ Mental Fortitude Under Extreme Pressure
Perhaps the most inspiring — and least appreciated — part of Ackman’s story.
It’s one thing for your professional life to be under extraordinary stress. It’s another for your personal life to be doing the same.
Both combined?
That is a level of pressure most people will never fully understand.
The responsibility to LPs. The firm’s reputation. Public scrutiny. Marriage falling apart. Divorce. Career pressure. Facing several highly sophisticated billionaire fund managers aggressively betting against you. Team morale.
The psychological weight of that environment is immense. At times, it can feel crippling.
Doubts naturally creep in. And if left unchecked, doubt can metastasize — causing you to question everything, robbing you of clarity, confidence, and ultimately your full potential.
Unlike most individuals who would fold under that degree of pressure, Ackman powered through and rose above it all.
___
Final Thought
“The huge drop that felt like a complete disaster looks like a little bump on the curve.”
Whatever you may be navigating today, time has a way of compressing pain.
Years later, this chapter too may look far smaller than it [...]
Bill Ackman on navigating adversity:
“I learned this method for dealing with these kind of moments, which is you just make a little progress every day… And progress compounds a bit like money compounds… Just keep making progress.”
The Lesson: In periods of real difficulty, make a little progress every day — on the problem, the work, your health, your relationships, your life. Early on, it feels like nothing is changing until one day you look back and realize you’ve moved a mile.
___
1️⃣ Family & Good friends
Ackman mentions walks at night with a friend. Support from his sister and parents. This part is deeply underrated. Many people take for granted the power of unconditional love, friendship, and genuine human connection.
In the most difficult moments of life, these relationships provide a layer of warmth & comfort that nothing else can replicate. Not success. Not money. Not intellect. Just knowing there are people who love you, who anchor you, who stabilize you when your own mind and body is under pressure.
___
2️⃣ Exercise & Weightlifting
Physical stress is one of the most reliable regulators of mental stress. Movement improves mood, cognition, resilience because it directly impacts brain chemistry.
When life feels mentally overwhelming, working on yourself physically is often one of the most practical, grounding interventions available.
___
3️⃣ Meditation
Ackman specifically references Transcendental Meditation (TM).
Mechanism aside, the benefit is clear: reduced stress, improved clarity, quieter mental noise.
In environments of uncertainty, mental stillness becomes a performance advantage.
___
4️⃣ The Beauty of Life
What’s striking is that many of the most powerful stabilizers are things money can’t buy.
Naval Ravikant said it best:
“A fit body, a calm mind, a house full of love. These things cannot be bought — they must be earned.”
That’s the beauty of life — wealth doesn’t shortcut what truly matters. The most valuable variables are earned, not purchased.
___
5️⃣ Progress Compounds
Small daily progress feels invisible at first. Then undeniable in retrospect. The compounding effect applies to life just as it does to capital.
The critical part is simply to start. Even small progress counts.
___
6️⃣ Let the Past be the Past
This is a deeply important psychological insight — especially for entrepreneurs.
Psychologically, you need to let the past be the past. Focus on moving forward. Many people anchor their emotions or attach them to prior highs — and that shouldn’t be the case.
Staring at where you “used to be” creates frustration, friction, and hesitation. Progress requires forward orientation. The past is reference — not an anchor.
___
7️⃣ Mental Fortitude Under Extreme Pressure
Perhaps the most inspiring — and least appreciated — part of Ackman’s story.
It’s one thing for your professional life to be under extraordinary stress. It’s another for your personal life to be doing the same.
Both combined?
That is a level of pressure most people will never fully understand.
The responsibility to LPs. The firm’s reputation. Public scrutiny. Marriage falling apart. Divorce. Career pressure. Facing several highly sophisticated billionaire fund managers aggressively betting against you. Team morale.
The psychological weight of that environment is immense. At times, it can feel crippling.
Doubts naturally creep in. And if left unchecked, doubt can metastasize — causing you to question everything, robbing you of clarity, confidence, and ultimately your full potential.
Unlike most individuals who would fold under that degree of pressure, Ackman powered through and rose above it all.
___
Final Thought
“The huge drop that felt like a complete disaster looks like a little bump on the curve.”
Whatever you may be navigating today, time has a way of compressing pain.
Years later, this chapter too may look far smaller than it [...]