Investment Partner and CLO @variantfund
ex software engineer/@ycombinator founder, attorney @Cravath
tweets are not legal advice | I am not your lawyer
Three reasons autonomy is inevitable - not just in crypto.
1. The internet is being rebuilt around agents. Instead of an account with every app, you'll have one agent that acts across services on your behalf. To compose across open APIs, the agent has to hold your assets and identity directly. Self-custody stops being a crypto preference and becomes a structural requirement. Self-custody = autonomy.
2. Technology is solving coordination problems to unlock self-governance. Humans are bad at deciding as a collective, so we've handed decisions to a few fallible people in charge, trading autonomy for efficiency. Technology removes that tradeoff: permissionless markets act as coordination machines that turn participant intents into decisions, and AI can process fuzzy collective context into clean outputs. Self-governance = autonomy.
3. The convenience/control tradeoff is ending. We've always traded relinquished control for convenience - put your cash in a bank so you don’t need to lug it around, sacrifice your privacy for immediate access. But technology is collapsing that tradeoff: clever cryptography can deliver autonomy with no convenience cost. We’ve already seen this with wallets (e.g., Turnkey) and E2EE - it will increasingly be baked in by default, because users will demand it and applications will seek it for faster go-to-market and regulatory arbitrage. More control = autonomy.
$HYPE continues to cement itself as the leading alt on Derive.
Yesterday:
• $182M notional traded
• 35% of the volume was HYPE
• HYPE surpassed ETH
The dominant alt options market continues to grow.
As I've written about before, insider trading = deceptively breaking promises and trading on it.
The promises in this case were formed through standard company polices practically all employees enter into.
That's all the CFTC needed to nail this Google employee.
we went from 1,000 to 10,000 provisioned honcho instances in a month and a half
anyone know killer platform engineers? we can't keep up with the infra demands
Today we're releasing Agora: the first ever pretraining stack that allows non-collocated consumer GPUs to be competitive with centralized clusters
Agora is 15x faster than Megatron-LM in this setting and is only 1.5x less efficient in terms of tokens per unit compute than TorchTitan on H100s, despite running on devices that have no NVLink or InfiniBand support.
Over the past few weeks I've been using an agent daily
However, it's become increasingly clear that it's not a long term solution. I'm decently suited to hack around, but not to manage hosting and security for an always on, extensible agent
What are the best managed agent services ?
Importantly, a month of 🫡Honcho-powered Hermes usage
Perfect for supplementing the local markdown system
Memory is a reasoning task... and Chuck's just beginning to see the benefits 🚀
Through the Looking Glass: Conceptualizing Control and Analyzing Criminal Liability For Unlicensed Money Transmitting Businesses Under Section 1960, by me, @jchervinsky and @dbarabander
https://t.co/rj3hQsD4Io