Insane work ethic is still a competitive advantage.

Startup idea: cut (or melt) ice for less than $3.5B.

We have officially started drilling the first borehole for our data acquisition well in Parsons, Kansas -- a major milestone as we move from planning and engineering into active field development. Check out our website for the full announcement.

We’ve raised $80 million in new financing to accelerate commercialization of our advanced nuclear technology. Blue Owl Capital’s Real Assets platform is a new strategic relationship, and a Blue Owl managed fund participated in the round. Full announcement on our website.

DAT preferreds are quietly creating a new asset class. @apyx_fi is built to capture it. @defidevcorp (DFDV) was the first non-Bitcoin DAT in the US, and we've filed to issue our own variable rate perpetual preferred. Running a DAT is what got me so excited to work on Apyx. A year ago, there were a handful of DATs. Now there are nearly 200. The initial flywheel was: trade at a premium to NAV, issue stock, buy more crypto, grow crypto per share. That flywheel has slowed. NAV premiums have compressed and capital raises have gotten harder. Enter variable rate perpetual preferred stock. @MicroStrategy and @saylor pioneered this with STRC — a preferred that targets a $100 price and pays a variable monthly dividend. When STRC drifts from $100, the board adjusts the rate to push it back. It's essentially an algorithmic stablecoin backed by Strategy's entire balance sheet. @strive followed with SATA. DFDV has filed on similar terms. These preferreds extract volatility from the price and push it into the dividend rate, which transfers that volatility to the common stock. DATs want this — more vol means better convertible debt pricing, more opportunity to sell stock at premiums, and more opportunity to buy back below NAV, all of which are accretive for the DATs. I expect many DATs will issue instruments like these. As long as treasuries are managed carefully and crypto grows over 5-10 year horizons, these preferreds will be very successful — and there will be a lot of them. This is where Apyx comes in. Apyx is a stablecoin protocol backed by a basket of DAT variable rate perpetual preferreds, which currently yield 11% . Diversifying across issuers reduces concentration risk while capturing higher yields from smaller DATs. Apyx uses a two-token model similar to Ethena's USDe/sUSDe: apxUSD is a non-yield-bearing stablecoin designed as collateral across CeFi and DeFi, while apyUSD captures yield from all the backing assets — providing leveraged exposure to pref yields, potentially well above 11% APY. Apyx is my bet that this trend has legs — and that crypto-native infrastructure is the best way to unlock the value in these instruments. Blog: blog.apyx.fi/introducing-apy… Website: apyx.fi Docs: docs.apyx.fi/

If you live close to Boca/Delray and are playing with Ollama and building in DeepSeek, QWen, Kimi, or the more patriotic Llama and are looking for PT or internship work (you're in college, highschool, w/e), drop me a DM; and if you know someone that sounds this nerdy, tag them.

This seems broadly correct; and if it is, then perhaps we can expect rates at the long end of the curve to at some point at least be temporarily reined in by the hand of the fed in lieu of the invisible hand.

iv) take action; v) measure results; vi) back to step (i).

Your use of AI wont give you a competitive advantage for much longer. As AI becomes ubiquitous, your competitive advantage will arise not from total usage (though that's table stakes at this point) but from asking better questions. Better questions are always the source of better answers.

Great way to end the week with @defidevcorp. We put on our best suits and rang the closing bell at the @Nasdaq today… in true DFDV fashion. Great fun, with a great community. More to come!

$SOL: The Nasdaq of crypto $DFDV: The crypto of Nasdaq

The obstacle in the path becomes the path. Never forget, within every obstacle is an opportunity to improve our condition.

This is the base case - but ASI eats it. If we don’t hit ASI then this should be the situation; massive increases in productivity and per capita GDP. The panic is that there is no model or framework for how to think about ASI besides anthropomorphizing it (which is inherently dark).

🤯

Basically, the dumber you are, the smarter you think you are and vice versa.

Velocity is and always will be a competitive advantage

Everyone watching employment, tariffs, deportations and inflation as leading indicators to treasury yields and it’s a $5M model spun up in China that turns the 10YT on its head. @realDonaldTrump owes a thank you to Xi for bringing rates down (today).

Damn right!