KG

Energy & Separation of Money and State

[jack @jack]

we're launching BUZZ!

a new groupchat platform for teams of people and agents of all sizes, built to reduce our dependency on slack and github. model-agnostic, decentralized, self-sovereign, and open source. 🐝

https://t.co/8IaMVeTQNo

[corsaren @corsaren]

Local minima are extremely rare in high dimensional spaces, so if you ever feel stuck in a rut it’s probably just because you aren’t considering a wide enough set of orthogonal options

[Geogristle @geogristle]

You can get LLMs to write good non-AI-slop-sounding technical documentation by requiring them to adhere to ADS-STE100 Simplified Technical English

[Bit Paine ⚡️ @BitPaine]

Sometimes I pause and reflect on the fact that my entire financial portfolio is currently composed of 1) an imaginary Internet ponzi coin and 2) the stock of a company famous for having the largest peak-to-trough drawdown in the history of financial market bubbles, and whose CEO is currently leveraged to the tits on the same Internet Ponzi coin (which he refers to as “the goddess of truth”), and that I consider this a sound financial strategy with a virtually 100% chance of retiring my bloodline.

[KG @AnalystKody]

@MartinShkreli this is important work @MartinShkreli. appreciate this

[Joey Politano 🏳️‍🌈 @JosephPolitano]

the strait of hormuz is in a quantum superposition of open and closed that only collapses when you try to take a tanker through yourself and see if you get shot at

[moneyfetishist @moneyfetishist]

I am not going to motivate you because if you need motivation from a stranger on a plane the answer is stay

but I will give you the game theory

your corporate M&A gig is a repeated game with diminishing marginal returns. year 1 you learn everything. year 2 you refine it. year 3 you are executing pattern recognition. year 4+ you are being paid more to do the same thing with slightly larger numbers. the learning curve flattens but the golden handcuffs tighten because every year the comp goes up and the opportunity cost of leaving gets more painful on paper

this is a classic status quo bias trap. the payoff of staying is known and comfortable. the payoff of leaving is uncertain and scary. so you stay not because staying is optimal but because the asymmetry of regret is lopsided. you can imagine regretting the leap. you cannot as easily imagine regretting the years you stayed too long because that regret builds slowly and never hits you in one moment

here is where game theory actually helps:

in your M&A seat you are playing someone else's game. the firm sets the rules, the deal flow, the comp structure, the promotion timeline. you optimize within their framework. you are a very well-compensated player in a game you did not design. your upside is capped by whatever the partnership or MD economics look like. your downside is protected by a salary. that is the trade

owning a local business flips the entire payoff matrix. you design the game. you set the rules. the downside is real and unprotected but the upside is uncapped and compounds in ways a salary never does because you own the equity. a $2M EBITDA business bought at 4x and grown to $3M EBITDA over 3 years is worth $12-15M on exit. no M&A salary trajectory produces that kind of wealth creation in that timeframe unless you are a founding partner

the Nash equilibrium of your current situation: you and every other M&A professional are competing for the same promotions, same deal credit, same bonus pool. the competition is fierce because the players are identical. same schools, same skills, same hours. you are in a crowded equilibrium where everyone works 80 hours to stay in the same relative position

local business ownership is a different game with different players. the competition is a 62-year-old owner who stopped innovating in 2014 and a 35-year-old who inherited the business and does not want to be there. you walk in with financial sophistication, deal structuring experience, and the ability to read a balance sheet faster than anyone in the room. you are overqualified for the game which is exactly where you want to be. the best strategy in game theory is to play games where your existing skill set gives you an asymmetric advantage over the other players

the timing question is about optionality. every year you stay in M&A your financial optionality goes up slightly because you save more. but your operational optionality goes down because you get further from the reality of running anything. the M&A guy who leaves at 28 adapts to operations in 6 months. the one who leaves at 38 has a decade of habits built around delegating to analysts and reviewing decks, and managing a P&L feels foreign in a way it would not have 10 years earlier

but again. if you need me to motivate you, stay. the people who actually do this do not need motivation. they need a spreadsheet that shows the math works and then they cannot NOT do it. if you have the spreadsheet and you are still asking strangers for motivation the spreadsheet is not the problem

[laurence @functi0nZer0]

Claude, repair the LNG facilities before market open, make no mistakes

[KG @AnalystKody]

@CashApp PLEASE MAKE IT WORK WITH PLAID.

[omgitsgio @Gioluz_]

This is a stock Bitaxe in a fully 3D printed enclosure which can be plugged directly to any wall outlet in the world.

It can be put together in 10 minutes with parts you can find in any major electronics distributor around the world.

It can be orange and bright or it can go dark and discreet, you choose.

This is my contribution to make mining more decentralised by bringing more Bitaxes in places where they wouldn’t normally go.

Once it's refined and reliable, the project will be fully open-sourced. In the meantime, you can contribute to its development by pre-ordering a kit, a full device or just donating.

If you have any suggestions, DMs are open.

Check out all the details here: https://t.co/Ym7jiRAdsl

[KG @AnalystKody]

@pnwguerrilla we are all @DOGE now

[KG @AnalystKody]

@nvk i hear you, but i think it’s a good gateway for normies. there’s value in that.

[Alex Emidio | #FreeSamourai @AlexEmidio7]

#PardonSamourai

[KG @AnalystKody]

@mattbramanti @KNLCBD that’s actually not a bad price. i promise the profit margin for the charger is smaller than you’d think.

also your residential house electric rate is probably more than double that.

[KG @AnalystKody]

@MelechThomas it’s a shame this has so many likes because it’s just not true.

[J.K. Rowling @jk_rowling]

If you believe free speech is for you but not your political opponents, you're illiberal.

If no contrary evidence could change your beliefs, you're a fundamentalist.

If you believe the state should punish those with contrary views, you're a totalitarian.

If you believe political opponents should be punished with violence or death, you're a terrorist.

[KG @AnalystKody]

@TRHLofficial 2oz is a dealer’s amount. her punishment is harsh but her fault.

[KG @AnalystKody]

@MartinShkreli make a video walkthrough

[KG @AnalystKody]

@souljagoyteller there are too many colleges. 30% of them can go.

[KG @AnalystKody]

@CashSupport can you please make cash app integrate with plaid?