Zachary Schwartzman

Co-founder & CEO, Stabyl. z19 Capital. 2x Founder & Internet Analyst. Oxford. Emory. Incentive alignment is paramount.

[Stabyl @StabylCoin]

Open USD is live today, and Stabyl is proud to be one of 200+ companies building with it.

We’re honoured to be alongside names like BlackRock, Google, Visa, Stripe and Coinbase, and excited to be one of the few companies in the cohort with a primarily African market focus.

[Zachary Schwartzman @z_schwartzman]

So when does CTO officially rebrand to Chief Token Officer?

[Zachary Schwartzman @z_schwartzman]

Funny that nearly the entire “crypto” industry has pivoted its investments to a digital version USD, as it’s pretty much the only structural shift this industry has created that has grown across all market cycles.

Bitcoin and digital USD.

Everything else is picks and shovels.

[David/Dovid Bashevkin @DBashIdeas]

An apology from American Jewish Parents

A powerful letter written by David Magerman.

[Zachary Schwartzman @z_schwartzman]

Interesting thought and analysis

[Dan Gray @credistick]

Databricks could have gone public in 2020 at a comparable scale to Snowflake.

Instead, it stayed private and raised an estimated $28B across seven subsequent rounds.

Consider two scenarios based on public comps:

- A hypothetical 2020 listing, resulting in a public company worth ~$200B in 2027.

- The current trajectory, where Databricks goes public at a valuation of ~$200B in 2027.

The difference between these scenarios is the 7 years of private capital at a cost of around 18%, versus public capital at a cost of 12%.

As a result, 2020 shareholders have sacrificed ~$30B of present value in order to stay private, and venture capitalists expanded their fee income by ~$6B.

Even the carried interest from a much larger 2027 IPO is lower, if you factor in the time value of money.

Unfortunately, it's easy to grandstand with the TVPI on earlier investments and obscure the damage done to the company by injecting more capital.

[Zachary Schwartzman @z_schwartzman]

Many people reposting @cremieuxrecueil today. I actually published his exact findings several months ago.

https://t.co/acM1ZRVlLu

You can dig deeper into a more substantive report on investing in Israeli founders relative to the rest of the world here: https://t.co/ArHz7258jI

[Crémieux @cremieuxrecueil]

Relative to native-born Americans, several countries' immigrants to America have produced vastly greater rates of unicorn founders.

In particular, Israel: with shockingly few people in the U.S., Israel is the #2 origin *in total* for foreign Unicorn founders.

[Zachary Schwartzman @z_schwartzman]

@dee_bosa I doubt any smart public investor would decide not to invest in SpaceX for the reason that Elon is a “litigious and distracted CEO”…

For ANYONE but Elon Musk, you could make this argument, though.

[Zachary Schwartzman @z_schwartzman]

@mikeeisenberg The Analysts and IR functions are just as much if not more at fault for propagating this!

We added SBC expense back to EBITDA in all our models 8 years ago.

IR teams called & asked us to change back because we were the only team on the Street doing this and fudging consensus 🤯

[Conductor Quantum @conductorquant]

128 double quantum dots, the building blocks that become qubits, tuned automatically across a single silicon chip.

64 devices. No human in the loop.

A future quantum computer needs millions of qubits. Automation isn't optional. It's the only path.

https://t.co/JO35v3FcgS

[Zachary Schwartzman @z_schwartzman]

רק עליתי לפני שנה וזה הפוסט הראשון שלי בעברית, אז אם את/ה מייסד, יזם, או עובד בהיי-טק, בבקשה לפרסם את הפוסט לרשתכם אם מותאמים לכם. תודה רבה!

[Zachary Schwartzman @z_schwartzman]

בתור אמריקאי שנמצא בארץ רק שנה, ובאמצא מלחמת שאגת הארי, רציתי לפרסם מחקר שעשיתי על תרומות כלכלית מישראל לארה"ב, כדי להוכיח שבניגוד למה שמאמינים, האמריקאים לא "רק עוזרים לישראל."

"Unicorns Founded by Nationality🦄"

הדו"ח המלא: https://t.co/ArHz7258jI

[Zachary Schwartzman @z_schwartzman]

- ישראלים שבונים יוניקורנים בוחרים להקים את חהחברות שלהם בארה"ב מול הארץ ביחס של 2:1; יש הזדמנויות לממשלה לתמרץ יזמים להקים את החברות שלהם בארץ

[Zachary Schwartzman @z_schwartzman]

@ttunguz This is because there is too much money in venture and growth which is skewing GP and founder incentives. Also, many of these 830 private unicorns may be valued less in public, price-discovery efficient markets…

[Zachary Schwartzman @z_schwartzman]

@sweatystartup Only an American who thinks they are the only people in the world could make such a statement

[Zachary Schwartzman @z_schwartzman]

Many $100M-$200M+ “Series A” investments announced recently… interesting!

[Zachary Schwartzman @z_schwartzman]

Waymo was valued at $126B yesterday.

7.5 years ago, my former colleagues and I published a report on Alphabet projecting Waymo's future valuation. I dug that up this morning to see how we did.... 🥁

Our 2025 Valuation: $119B

While some assumptions were off, we came darn close!

[Zachary Schwartzman @z_schwartzman]

@Grokipedia overtakes @Wikipedia
@moltbook overtakes @Reddit

Which other crowdsourced internet platforms are at risk?

[Zachary Schwartzman @z_schwartzman]

President Trump should mandate all payments for Venezuelan Oil in the form of USD stablecoins. May help stabilize the Bolivar as well!