Josh

Founder and CEO of NextMD. A modern approach to Medicine

[Jarrad Grigg @jarradgrigg]

This is what entrepreneurialism feels like.

[Josh @JoshBobrowsky]

@kiwicopple Smart model

[Ryan Petersen @typesfast]

For whosoever commands the sea commands the trade; whosoever commands the trade of the world commands the riches of the world, and consequently the world itself. - Sir Walter Raleigh

[Andrej Karpathy @karpathy]

One pattern I find useful for working with LLMs is a nice long ramble session. Sometimes the LLM needs more bits to understand what you're trying to achieve, but you're too lazy to type them. In these cases I like to lean back, switch to /voice and just ramble for like 10 minutes, total mess, anything goes, full stream of consciousness. Sometimes I declare it up top, something like "switching to speech recognition sorry for any typos...". Sometimes I turn it into a small interview of a few turns. But I find that the LLMs are somehow very good at reconstructing long incoherent rambles and often their echo of your own tangle of thoughts comes out quite a bit cleaner than what you started with. The result is that you improve the mind meld and have to correct things less from that point on.

[Peter H. Diamandis, MD @PeterDiamandis]

The first phone call across the Atlantic, in 1927, cost about seventy five dollars for three minutes, more than a thousand in today's money. Right now you can see a face on the other side of the planet, in real time, for free.

[Joe Pompliano @JoePompliano]

Fanatics Fest is spending ~$10 million on appearance fees for 500+ athletes and celebrities. Those athletes and celebrities are then required to sign autographs and take pictures, with prices ranging from $100 to $1,000+.

The total event budget is $80-$90M, and Fanatics will likely be profitable.

Here's a full breakdown of the numbers: https://t.co/4HQyWGDEXs

[Josh @JoshBobrowsky]

@StumpGuyTy There are no guarantees in almost anything

That said most of the time when someone sells a biz that is small there is a carryover period

But someone can fast track 5 years of startup work and get to place you spent years to develop

[Anthony Cumia @AnthonyCumia]

To think how upset he was when he was booted from SNL. It was probably the best thing that could have happened to him.

[Jon Erlichman @JonErlichman]

On this day in 1995: Amazon launched.

[Chris @ChrisGPT]

Kimi K3 just 3 shotted this CS:GO × Portal clone for me using around 600,000 tokens.

$3.24 in API usage. The same token cost would be $10.80 with Fable 5 & $6 with GPT-5.6 Sol.

The era of free indie game development is closer than you think anon!

[Josh @JoshBobrowsky]

@tobi Ironically the same is true of writing

[Josh @JoshBobrowsky]

Pretty impressive stats

[Arena.ai @arena]

Big news: Kimi-K3 by @Kimi_Moonshot is now #1 in the Frontend Code Arena with 1679 pts, surpassing Claude Fable 5.

This is a 17-place jump from Kimi-k2.6 (#18 -> #1).

In Frontend, Kimi-K3 ranked #1 in 6 of 7 domains: Brand & Marketing, Reference-Based Design, Data & Analytics, Consumer Product, Simulations, and Content Creation Tools, landing #2 only in Gaming behind Fable 5.

The full model weights will be released by July 27.

Congrats to the @Kimi_Moonshot team on this major milestone!

[Josh @JoshBobrowsky]

@hosseeb Facts

[Josh @JoshBobrowsky]

@BillAckman @Alphaschool Super impressed with what they have built

[Josh @JoshBobrowsky]

@Elialbrecht Not uncommon

[Josh @JoshBobrowsky]

@gdb Let 1000 inbound emails bloom

[Alfred Lin @Alfred_Lin]

Hope may not be a strategy, but hope plays an important and central role in any winning strategy.

[Josh @JoshBobrowsky]

@Hadley Feels logical people want to own their data and not give away trade secrets

[Simon Taylor @sytaylor]

Wow: Stripe and Advent have bid more than $53 billion to take PayPal private. 🤯

This is the biggest story in payments I can remember, and I write about payments for a living.

The details, per Reuters:

- $60.50 a share
- a 28% premium, backed by roughly $50bn in committed bank financing.
- Stripe and Advent would own PayPal 50/50 and keep the company whole.
- The first approach was April. PayPal hasn't responded yet.

The timing is poetic.

Last year was the first year Stripe's payment volume passed PayPal's. $1.9 trillion vs $1.79 trillion. The challenger passed the pioneer on volume, then went straight for the whole company.

Same volume, wildly different price tags. Stripe's tender offer in February valued it at $159bn.

PayPal peaked at $360bn in 2021 and just got bid at $53bn.

The gap is the growth rate: Stripe grew 34% last year, PayPal grew 7%. Growth is everything.

Advent's name in this deal tells you as much as Stripe's does. PayPal generated ~$6.4bn in adjusted free cash flow last year, so $53bn is roughly eight times cash flow.

That is private equity maths. Advent takes on the turnaround of a 23,800-person company.

And Stripe? Stripe spent 15 years building the merchant side of the internet. PayPal hands it the consumer side: 439 million active accounts, Venmo, and the yellow checkout button consumers know on sight.

If this closes, one company touches $3.7 trillion in annual payment volume. Around 3% of global GDP and would be by far the largest US merchant acquirer by volume.

My questions

- Can anyone fix the back end mess of PayPal?
- It's employee heavy, I image a lot of layoffs would be required?
- Is this actually a distraction for a very healthy growing Stripe?
- Would you keep bits and jettison others?

I get the attraction to the raw volume and assets. But underneath is a mess of company M&A and systems that never got fully integrated. Doing that is hard and not for the feint of heart!

There is no certainty it happens.

But someone just put $50bn of committed financing behind the idea that PayPal is worth more off the stock market than on it.

Discl: Stripe sponsors my podcast, opinions 100% my own