laert skreli

bd & partnerships @M0 // prev legend, bread (acq $450M), synchrony

[laert skreli @laert]

@0drxzy @wirexapp big congrats @0drxzy 🚀

[Noah Levine @nlevine19]

Been seeing a lot of discourse on X about agents triggering a bank run/lowering bank NIM by sweeping non-interest bearing deposits into yield. I think this is possible but going to take a lot longer than people think:

1. Retail banking is one of the highest switching cost products and deeply concentrated. The top 5 banks hold roughly half of US consumer deposits and banks with over $10B in consumer deposits hold close to 85%. These banks are incentivized to not be accessible to agents and are already not developer friendly. We have seen this with the big banks pushing back on open banking by charging for data access and reducing what is available. Muse can read your balances via Plaid but cannot move the money.

2. Well over half of consumer deposits are held by households 55+. This cohort is less likely to be an early adopter of an AI finance tool not being endorsed or directly offered by their bank.

3. The top 10% of households by wealth hold approximately 60% of deposits (top 1% alone is nearly 25%). Most of this money already has an advisor or brokerage attached reducing the incremental value proposition of a standalone consumer agent. The bottom 50% hold 5.5% of deposits, so the mass market agent story is less existential to bank funding.

Net net, I think in the fullness of time agents do become the primary interface for personal finance and cheap deposits shrink over time. But most of that comes from AI democratizing access to services the wealthiest people already get, and it will be relatively slow because these tools are new and people will need to establish trust before having them manage their money.

[laert skreli @laert]

@Andrewthegh0st @X lame

[laert skreli @laert]

moon over gotham

[laert skreli @laert]

@hhjacks all you need.

[laert skreli @laert]

back in the gym after a multi year hiatus.

i see you all still do 4 exercise circuits on one machine during peak time.

ggs.

might go another hiatus.

[laert skreli @laert]

lotto culture

a dollar won > a dollar earned around here

[Olivia Moore @omooretweets]

If you're building / investing in consumer and spend all your time on X, you're in a bubble

The mainstream breakout trend of the past 6 months is not agents but...digital repacks of trading cards

Monthly U.S. consumer spend on Anthropic vs. @triumpharcade 👇

[laert skreli @laert]

@hhjacks stay strapped

[laert skreli @laert]

higher

[M0 @m0]

Since M0's onchain infrastructure launched in June 2024, we've processed over $61.1B in volume.

Businesses use M0 to build and operate 20+ onchain products and we're very thankful for our network of powerful and innovative builders.

Onward!

[laert skreli @laert]

$NVDA bumping share buyback to a quarter-trillion dollars is uh, a choice?

https://t.co/cR4Z2athBZ

[laert skreli @laert]

cool

[Alex Thorn @intangiblecoins]

i asked opus 5.5 to make a 3 min video about the history of bitcoin

i told claude to rely on data from my local 1.8 tb postgres database of bitcoin data (coins, blocks, hacks, attribution, everything)

here’s what opus made in 1 hour 22 mins on max effort with a 10 line prompt

[laert skreli @laert]

@conradocanas bart? i’m bart?

[laert skreli @laert]

i told my main agent (bart) to onboard my muse agent (bart) and chaos ensued.

[laert skreli @laert]

@AlexH_Johnson god damn thats catchy though

[laert skreli @laert]

@tomerweller @Google powerpoint is low key... good.

[laert skreli @laert]

there's a real dissonance in defi land right now.

onchain money was supposed to be the antidote to relinquishing control to monolithic institutions.

yet, we've handed control of the onchain money stack to...monolithic institutions ???

[laert skreli @laert]

muse + recent meta hardware launches might be so good that zuck can finally retired threads.

[Trung Phan @TrungTPhan]

@AnthropicAI “Ok Claude, please use our new wet lab to find a previously unknown enzyme system hidden in the DNA of bacteriophages. Make no mistakes…and, ugh, make sure it’s safe.”

[laert skreli @laert]

@moonpay i mean