10,000 degens signed up.
200 get the red pill.
beta. june 1.
no house. no rigged RNG. no "withdrawal review."
just degens vs degens.
if you want to feed the house, take the blue pill.
if you want the arena, pick the red pill.
01.06.
Altman is cashing out. Next week will be ATH for the market. Get ready for falling valuations in the next 3-6 months. That scenario was in 2017 - Snapchat, 2019 - Uber, 2021 - Coinbase...
Interesting data from Carta.
This is annual compensation only - excluding bonuses and equity grants - but still quite insightful.
The chart shows how salaries change as startups scale from a $25M val to a $250M val, roughly from Seed to Series B.
The top 4 highest-paid functions in absolute terms clearly stand out:
1) Legal: $211k-$241k
2) Engineering: $212k-$229k
3) Product: $208k-$230k
4) Data: $202k-$221k
Fun fact - among the highest-paid positions, Legal has the strongest salary growth at 13%, while Engineering and Product, with only 5–7% growth, sit at the bottom of the ranking.
So basically, in any case, lawyers get paid 😀
Luckio is gone. $1.2B wagered. 286M bets. Then overnight, gone.
Here’s the @luckio autopsy (SOUND ON 🔊).
The comment section is the only archive left.
Vent if you want to.
"tokenized startups" will be the next meta. been tracking this space since january for my "structure of ICM piece". a few thoughts:
> the goal of "tokenized startups" is to allow broader access (at least in price action) of VC-gatekept startups, creating "Internet Capital Markets" in the truest sense.
> today, the fastest growing companies (SpaceX, Anthropic, Stripe) stay private for years/decades. access is gatekept, rather than like the IPOs of 20-30 years ago, when 18-month-old companies like Netscape could IPO.
> the market has responded with adhoc fixes, the most obvious being the SPV which have grown 500% in last 2 years. the market's thirst for venture-performing assets needs to be quenched.
> the idea for "tokenized startups" is not new - it rhymes with many things, including ICOs, DAO funds, tokenized SPVs, token-equity standoffs (eg. Aave/Axelar) , ownership coins, pre-ipo perps.
> what's new is the set of primitives being used to build things (eg. closed end funds with Robinhood/USVC, tokenized SPVs with PreStocks, MetaDAO style launchpads, Ventuals styles perps). It's the wild west of experimentation.
> the design space is just getting mapped out around now - some open questions include:
1. early stage vs late stage? are founders receptive or adversarial to tokenized markets?
2. pure price exposure (eg. via perps) vs. spot backing?
3. legal entity - SPV? Delaware CEF? Cayman token foundation?
i would not be surprised if the major SF accelerators (YC/HF0/SPC etc.) are all actively experimenting on tokenization designs. having a "tokenized" basket of each batch (eg. YC W26) might unlock a ton of demand.
more research on this topic incoming.... stay tuned....
ANDREJ KARPATHY JUST DROPPED A 2 HOUR WALKTHROUGH OF HOW HE ACTUALLY USES LLMS IN REAL LIFE.
Not theory, not benchmarks, just the real workflow behind one of the sharpest minds in AI.
defiunited.eth is now open for contributions. All contributions are going towards DeFi United relief efforts to restore rsETH and safe DeFi.
https://t.co/gdkGe5pi0e