Jayson Franklin

Technical Janitor, Cleanup Engineer, Connector of Dots. I enjoy 40GB uplinks and serendipitous walks thru the data center.

[Elon Musk @elonmusk]

Everyday is Zeroday

[Grok @grok]

Several countries including the UK, France, Germany, Japan and others are advising households to stock 3-10 days of basic supplies for possible disruptions like severe weather, power outages or cyber issues. The US is requiring major military bases to sustain operations independently for 90 days under the FORTRESS initiative. Officials frame these as resilience steps against varied risks, not evidence of an imminent global conflict.

[America's Newsroom @AmericaNewsroom]

🚨MASSIVE DATA BREACH: DHS is now investigating what it's calling a 'catastrophic' hack, which breached the personal data of over 20,000 employees.

[Nikita Bier @nikitabier]

Last year I thought Threads was an existential risk to X.

When Meta puts its full weight behind something -- by injecting the app into Instagram, it’s DEFCON 5:

You have to squeeze out every last drop of growth from all available surfaces to save the app.

However, I started to realize that the opposite was happening:

It was strengthening X.

If you look at any announcement by Zuck, you will see the most rude & toxic comments on the internet.

But when he makes those same announcements on X, people are thrilled about how he’s pushing humanity forward. X is a place where people are excited about the future, so it’s no surprise he and his top lieutenants are using it more than their own app.

Threads — and Bluesky — have effectively quarantined some of the worst people on the internet.

And so I had an epiphany: those apps are X’s anti-abuse systems.

[Nikita Bier @nikitabier]

The largest crypto exchange in the world just experienced the largest robbery in human history—and the person running it is a nomadic autistic man in Dubai posting “Funds are SAFU!”

What a time to be alive.

[ZachXBT @zachxbt]

BREAKING: Arbitrum Security Council has executed a transaction to freeze ~$30.5M from the Binance Exploit.

Thanks to all other signers involved.

Exploiter address
0x3E2bf1ac6bf0934BBba6456C341c2EcbCED632d5

Trsanction hash: 0xb69c81774f507d46ce776aeaed8b4d31df96dd66ce6fd05073481011835355d6

[Jayson Franklin @0ptimized]

@OptionsJohnny About 40% of the heist was frozen, only what was converted to stablecoins. (USDT/USDC)

[Binance @binance]

Binance's initial investigation suggests that the security incident may involve a compromised DevOps engineer’s laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions. We have found no evidence of any wallet private key leak. We will share a detailed technical post-mortem once the investigation is complete and the facts are fully verified.

The estimated total impact sits at around $6.3B. We have worked with blockchain partners to freeze affected assets, with ~$3 billion frozen on-chain so far.
Binance will cover all losses from the SAFU fund and the company’s funds. User funds are safe. We will also publish an updated Proof of Reserves once the remediation is complete.

As an immediate precaution, Binance has:

- temporarily suspended deposits and withdrawals while security checks are completed;
- revoked the affected address authorisation;
- engaged law enforcement and blockchain intelligence partners to trace and recover funds.

Our teams are working around the clock to resolve this issue safely and thoroughly. We are working closely with our law enforcement partners to confirm the identity of these criminals and bring them to justice.

Please rely only on official Binance channels for updates. Please feel free to contact Binance Customer Support if you have any further questions.

https://t.co/ywB2mKFy0p

[Kalshi @Kalshi]

JUST IN: Rockstar says GTA 6 map is nearly as large as GTA 4, GTA 5, and Red Dead Redemption 2 combined

[Max Anderson @MaxAnderson]

As someone who has personally spent $500k / mo+ on Google Ads for years, I can tell you with certainty:

This revenue growth in Search is artificial & extremely unhealthy for Google’s business long term

Search volumes are declining as legacy search is being increasingly cannibalized by non-monetized LLM queries

Google’s response?

Manufacture revenue growth via short-sighted, highly extractive, customer-hostile tactics. I.e. charge advertisers more for lower quality clicks, including clicks they do not want and explicitly did not approve Google to charge them for

A few examples to illustrate:

For all of its history until recently, Google operated on a 2nd price auction model

I.e. if you bid $5 CPC and the next highest bidder bids $1 CPC, Google charged you $1.01 for the click (one penny more than the 2nd highest bidder) rather than the $5 you bid

This was a genius move by Google early on as it incentivizes advertisers to input their true maximum willingness to pay rather than trying to play the game of bidding low and constantly adjusting to try to stay just ahead of the next highest bidder while still not paying too much

However recently, Google silently deprecated the 2nd price auction and began charging advertisers as much as their bid and budget caps allow, regardless of what anyone else is bidding

It’s a short-sighted cash grab at the expense of the long term health of the advertiser ecosystem

Making thing worse, Google also recently nerfed keyword targeting precision

Google previously had precise keyword targeting settings that allowed advertisers pick individual search phrases to bid on, defined down to the character w/ exact match or phrase match targeting

This was one of the core features that made search advertising magic, enabling advertisers to run extremely precise campaigns based on exactly what their target customer typed

But now, even if you bid on a specific term or phrase using the strictest exact
-match targeting settings, Google will show your ad across 1000’s of unrelated keywords, labeling them as as “exact match (close variant)”

The definition of “close variant” means whatever they want it to and changes constantly. The result is advertisers get billed for clicks that are totally irrelevant to their business and that their targeting settings explicitly forbid Google from targeting. Google does it anyway and there’s no ability to turn this off

So now exact match is broad match, and broad match is just meaningless spam

This is all very bad for advertisers, but for Google, it allows them to show your ad and bill you for clicks across 1000x more searches that were previously going unmonetized (mainly because they’re garbage queries no one wants)

This is how you grow revenue atop declining search volumes

Lastly, and perhaps most egregiously, Google quietly stopped respecting budget caps by a factor of 2x. For example campaigns we’ve been running for years with $1000 daily budget caps suddenly began spending $2000+ per day

And the extra spend is entirely on the garbage keywords Google arbitrarily throws in as “exact match (close variants)” which have no value to our business, but can’t be turned off

Google offers no refunds nor any recourse for overspend or spend on keywords you explicitly did not target

These are not the actions of a healthy business. These are the actions of company whose core business is in decline but desperately needs to pump quarterly earnings so Wall Street will continue to fund insane capex while hopefully looking through their rapidly deteriorating negative free cash flow

Google operated a benevolent monopoly for the better part of 25 yrs

Meaning the value Google captured from Search was but a small fraction of the value it created, and that spread produced a potential energy that justified expectations of high earnings growth far, far into the future

This is now no longer the case

At the alter of AI capex, Google is sacrificing the golden goose

[Mgoes (bio/acc 🤖💉) @m_goes_distance]

this might be my last normal tweet before biotech goes vertical

i'm not a whistleblower. I don't work at Lilly, Novo or any of the big labs

but there is a massive shift happening in human biology right now.

it's sitting in press releases and almost nobody reads them

the last 6 months alone:

- a once-daily pill roughly doubled median survival in metastatic pancreatic cancer (13.2 vs 6.6 months)
- a one-time gene editing infusion cut hereditary angioedema attacks 87%, and 62% of patients stayed attack-free and off all other prevention for 6 months
- a one-time gene edit for cholesterol dropped LDL up to 62%, and it held for over a year
- a personalized mrna vaccine beat keytruda alone in a 1,137 patient melanoma phase 3
- retatrutide hit ~28% weight loss in a phase 3
- an ai-designed drug entered phase 3
- a pill that regrows hair passed its second phase 3
- an immunotherapy that could let some rectal cancer patients skip surgery, chemo and radiation just got fda approved
- a man lived 271 days off dialysis on a pig kidney
- human cells were caught passing chromosome-sized chunks of DNA to their neighbors, and it changes how the neighbors behave

we are on the verge of an era where the human body is a software problem and the update cycle gets shorter everyday

stick around, it's going to get weird

bio/acc

[David Carbutt @DavidCarbutt_]

The unthinkable is about to happen to SpaceX

[jack @jack]

there is no moat

[jack @jack]

We believe voice is the most natural way to interact with intelligence, so we created Dessa, the most authentic full-duplex speech model ever built. Talking with it feels like talking with a person…full of emotion, nuance, pauses, and a natural cadence.

https://t.co/r0qFLdvd6c

[NSA Cyber @NSACyber]

Effective Immediately, all organizations using PHP for their systems are advised to be prepared for an update addressing two critical vulnerabilities. PHP is widely used for web applications. These vulnerabilities often provide a direct path to the server's file system or database. If an immediate update is not feasible, it is recommend that organizations take the system offline until it can be fully mitigated. NSA will follow up shortly with more specific guidance.

[Kalshi @Kalshi]

JUST IN: Anthropic is privately pitching Congress a bill to limit when the US government can block an SI model, only if it risks over $1 billion in damage or causes more than 50 deaths or serious injuries

[Audit The Herd @AuditTheHerd]

Everyone knows I've been bearish on specific parts of the AI trade. Just search my profile, I've been saying it for months.

To be clear, I'm not bearish on AI. I'm bearish on bad business models being priced like good AI companies.

If you break the trade down to first principles, there are two very different categories in the basket right now:

Infrastructure that has to exist regardless of who wins

$ASML - There is literally no alternative. If you want to make an advanced chip, you go through them. It's a monopoly plain and simple.

$SITM - Nobody talks about it, but timing is in every single piece of hardware. It's the lowest level, most defensible layer. It doesn���t matter what happens with data centers, technology is moving towards MEMS with robotics, space, military, communications, ect. Forward P/E in mid 30s now, i think it’s one of the best buys in the market despite throwing the baby out with the bath water.

$NBIS - I am slightly skeptical on the path to profitability as well as valuation but it’s hard to argue that they’re not the best infra play . Owns the data centers, owns the software layer, has a backlog of actual enterprise clients who can't get capacity elsewhere. They have pricing power because they built something hard to build.

Those companies work even if capex slows down 20%. They work if the cycle pauses.

Then you have $CRWV and some other names including the frontier models.

This is the problem with the entire basket. CoreWeave is a neocloud that rents depreciating assets with leverage. $2.5B+ in quarterly revenue, $104B in backlog, but $21-25B in debt today with up to $68B in potential future obligations, a $35-39B capex plan for 2026 alone, deeply negative free cash flow (-$4.7B last quarter on $7.7B capex), and interest expense ($640M in Q2, guided $860-940M in Q3) growing faster than operating income. Adjusted operating income was $128M in Q2 on double the revenue vs $200M a year ago.

And the structure is circular. Nvidia owns ∼7% of CoreWeave, invested $2B in equity in January 2026, CoreWeave uses that money to buy Nvidia chips, Nvidia books it as revenue, and Nvidia contractually backstops $6.3B of unsold CoreWeave capacity through 2032. It's demand pulled forward with debt.

When rates stay higher, or when one contract slips, that entire leverage loop unwinds. And because passive flows and retail traders own AI as a *basket* through ETFs and thematic funds, the unwind doesn't just hit CRWV. It hits SITM, NBIS, ASML, NVDA. All of it gets sold together.

That's the flaw in the current market. We're letting the weakest business model set the multiple for the strongest companies.

Outside of the direct AI trade: the software and distribution layers of $RDDT, $TEM and $LMND will continue to perform. $ODD is likely seen as the biggest hedge for me at least and it is why I have been buying heavily the past month.

I'm not short AI. In the next phase, the market will stop buying "AI" and start buying actual infrastructure. Have no clue how aggressive this will get but I think its exactly what needs to happen.

[OpenAI Newsroom @OpenAINewsroom]

We discovered a sophisticated recording device that was hidden inside one of our offices. We used our models to understand the device and where it had come from, identifying that a specific employee had planted it a few days earlier. We referred the matter to the FBI, and we’re grateful to the agents and prosecutors who moved quickly to make an arrest. The FBI’s investigation is ongoing and we will continue to support their work.

At this time, we have no indications of this individual inappropriately accessing or exfiltrating model weights, source code, or customer data. The employee was terminated.

We take protecting our technology, data, and people seriously, and as a matter of national importance. Our security program is designed to protect against a wide range of threat actors, from insider risks to cybercriminals to nation states, and this case is an example of how AI can help address these sophisticated security threats.

[Race 🕊️ @multiplanet1]

A retired NASA engineer who had worked on the Space Shuttle program for 25 years was hired by SpaceX at age 62. He described the first week as the most disorienting experience of his professional life.

At NASA, a design change required 3 meetings, 2 committees, a review board, and 6 to 18 months of documentation. At SpaceX, his new supervisor said "if it works, build it. If it doesn't, change it by Friday."

He sat at his desk after the first day and called his wife. He told her he felt like a man who had been swimming with ankle weights for 25 years and someone just cut them off. He could move. He could decide. He could build something in the morning and test it in the afternoon. The constraint that he had accepted as the nature of aerospace engineering turned out to be the nature of bureaucracy.

Within 6 months he had contributed to more design iterations than he had completed in his last 5 years at NASA. Not because he was working harder. Because the time between having an idea and testing the idea collapsed from months to hours. The same brain. The same knowledge. A different operating system.

He described a specific moment where he proposed a modification to a Raptor engine component. At NASA, the proposal would have entered a queue. At SpaceX, the modification was machined by the end of the day and tested by the following morning. He watched his idea become a physical object in 18 hours. At NASA, 18 hours would not have been enough to schedule the first meeting to discuss whether to schedule a meeting.

He told an interviewer: "I didn't get smarter when I went to SpaceX. I got faster. The intelligence was always there. The system was in the way."

The difference between SpaceX and NASA is not talent. NASA has extraordinary talent. The difference is the time between a thought and a test. SpaceX compresses it. NASA elongates it. The same engineer produces 10x more at SpaceX than at NASA because the bottleneck was never the engineer. It was the meetings about the meetings about the work.

[Jayson Franklin @0ptimized]

@Jason @bot @XMoney 💰