🇮🇱 I work with people who try to bend reality | Partner @ColliderVC.
Ideology is the mistaken belief that your beliefs are neither beliefs nor mistaken
So apparently people don't know the Mossad created Bitcoin, and the April 5th birthday thing is a hat tip to one of the most influential people in jewish history
https://t.co/n9fUQXDZUC
An awesome event with the @kpk_io team!
Really interesting discussion on the future of finance, with a big question mark on whether it will be permissionless, decentralized, and censorship resistant.
(The was no agreement amongst the panelists)
A few moments from last night in Tel Aviv with @ColliderVC. 🇮🇱
Really appreciated the conversations, the different perspectives shared, and everyone who joined us throughout the evening.
Special thanks to: @Utila_io, @addressableid, @chainalysis, @HypernativeLabs & @StarkWareLtd.
Full panel sessions coming soon on YouTube.
A few moments from last night in Tel Aviv with @ColliderVC. 🇮🇱
Really appreciated the conversations, the different perspectives shared, and everyone who joined us throughout the evening.
Special thanks to: @Utila_io, @addressableid, @chainalysis, @HypernativeLabs & @StarkWareLtd.
Full panel sessions coming soon on YouTube.
The age of permissoned DeFi is upon us.
To be completely honest fully decentralized / permissionless was a nice, romantic idea that simply does mot survive contact with reality (eg Lazarous) it was true before AI, but now it’s undeniable.
If we want finance to run on programmatic 24-7 rails, instant and global, it will not be open to everyone. A prerequisite is to keep terrorists out.
Tomorrow’s Champions League final between Arsenal and PSG will be played in Budapest.
Meanwhile, stores are boarding up in central Paris, expecting major riots and looting no matter whether Paris loses or wins the title.
Arthur Hayes: the thing that ends this bull market isn't a recession or a Fed pivot...
It's AOC.
"I think she is going to be the Democratic nominee for 2028. And I think investors are going to freak the f*ck out."
If she starts polling well, investors holding AI stocks at 100x revenue will have to start asking what a 50% AI tax will do to valuations.
"And once you start asking questions about the future like that - it's over."
FT @CryptoHayes@ilblackdragon@andyyy@robbieklages@therollupco.
English Version:
🧵In September 1995, dozens of upper-middle-class Iranians boarded a domestic flight from Tehran.
They packed swimsuits, readied the Rials in their wallets for some shopping, and imagined a chill weekend of lounging and sunbathing in the "Las Vegas of Iran."
A few hours later, they found themselves surrounded by IDF soldiers at the Ovda base in the Negev.
So this time we will tell the story of Kish Island, an island (literally) of hedonism and capitalism that hid on the fringes of the Islamic Republic as a "pressure release valve," and for various reasons, its history became intertwined with the frontline of Iran's conflict with Israel and the US.
In terms of ancient history, the island, situated in the Persian Gulf (Arabian, if you're one of those), was a trading post at least since the ancient kingdoms of Assyria and Media, and also appears in the descriptions of Alexander the Great's conquests onwards.
In the two thousand years since, it was known mostly as a source of pearls (similar to many other islands in the Gulf), but everything changed when in the 1970s the Iranian Shah wanted to build, using oil money, a glittering Riviera for the world's wealthy, as part of modernization and secularization efforts.
He poured millions there, built a giant casino, and runways long enough to accommodate Concorde jets straight from Paris.
The "refinement" of Las Vegas meets the wealth of the Persian Gulf (long before Dubai).
And then came the 1979 revolution. The Shah fled, the Ayatollahs took over, alcohol was banned, the casino was abandoned. But the potential remained.
The Iranian regime understood something very deep about mass psychology: a totalitarian dictatorship cannot choke its citizens 100% of the time, and certainly not the elites. It must have a pressure valve.
Thus, Kish was reborn as a "special economic zone," with duty-free exemptions and no visa requirements. A parallel universe to which Iran's elite and upper-middle class fled to taste a bit of "normalcy."
Luxury malls, jet skis, and a hijab that gradually loosens the closer one gets to the beach, even if those are still gender-segregated. A small, temporary golden cage.
And here we arrive at that "Kish Air" flight in '95.
During the flight, an Iranian flight attendant named Reza Jabbari pulled out a gun and took over the cockpit.
He diverted the plane westward and demanded political asylum in Europe, but to his great misfortune, he didn't take into account that the Boeing 707 didn't have enough fuel to get there. A problem.
And when Jordan and Saudi Arabia refused landing, the problem worsened.
Left with no choice, he continued to Israel.
Then-Prime Minister Yitzhak Rabin had to decide quickly whether to shoot down the passenger plane or watch it crash in/near Israel out of a lack of fuel—and decided to authorize its landing in our territory, but at the Ovda base in the Negev rather than at Ben Gurion Airport.
Thus, about 200 stunned Iranians found themselves surrounded by IDF soldiers, who treated them nicely overall.
In the anecdotes corner, the late Batya Arad, Ron's mother, was invited to speak with the passengers, and sent back stickers regarding her son with them.
Jabbari the hijacker was not returned but was tried in Israel according to international law, served a few years in prison, and ultimately converted to Judaism and moved to live in Eilat!
I recall an article about him from a few years ago, but I couldn't find evidence of whether he is still alive today.
And a quick jump to our days.
After the sanctions crushed the tourism industry in Iran, it seems that the wars of 2025/6 finally wiped out the Kish bubble.
The island that was a symbol of escaping reality became its nerve center, when, as part of the blockade on Hormuz, a container ship took a direct hit about 25 nautical miles off the shores of Kish a month ago.
So there are no special military targets on the island, but the luxury resorts have become mere observation points over a blocked traffic route.
In conclusion, Kish is a good metaphor for the entire Iranian tragedy.
You can try to engineer an artificial quiet, but over time, there is no pressure valve that will stop an inevitable explosion.
You are welcome to elaborate and share :)
And until next time,
The age of permissoned DeFi is upon us.
To be completely honest fully decentralized / permissionless was a nice, romantic idea that simply does mot survive contact with reality (eg Lazarous) it was true before AI, but now it’s undeniable.
If we want finance to run on programmatic 24-7 rails, instant and global, it will not be open to everyone. A prerequisite is to keep terrorists out.
PSA: I now consider *all* of DeFi unsafe.
Coding agents are superhuman at finding vulnerabilities, and smart contract security is too asymmetric: defenders need to fix every bug while attackers need just one exploit to steal funds.
haters say limitless volume is farmed
real ones know polymarket spent $44m in cash on rewards last month alone, which is more than the lifetime amount of capital limitless has raised. we have spent $3.7m SINCE INCEPTION on cash rewards
tokens are the most effective, asymmetric distribution tool in the world. by being the first prediction market to launch a token, we are proving this thesis
in the last 3 months limitless volume grew +345% vs polymarket +13%
Chutzpah per capita remains undefeated.
Israel’s doing that thing again where it’s over represented at the forfont of tech.
This time its in AI usage
Anthropic’s data says Israel is #1 in the world in Claude usage per capita.
The Israeli operating system shines once again. Expect much of future innovation in the space to come from here