This graph @mhdempsey shared yesterday is the most efficacious single graph representation showing why VC is (or feels) broken atm (absurd capital concentration) Any thoughtful analysis on this topic (that I've seen) agrees (imo correctly), in some flavor, that the structural root cause of exaggerated herd behavior is that VC as an asset class, and specifically the mega platforms, manages way too many dollars (i.e. grown too big). imo it's not a coincidence that the top 10 deals saw 52% of $ invested, while the top 9 funds raised 50% of $ committed As such, I would assert that the downstream deal concentration in VC is a direct consequence of ostensible LP preference for VC consolidated platforms (imo this has both intangible and tangible causes). Investing in more, smaller funds would (I assume) bring investing behaviors back to the mean, but the question seems to be how to break the cycle of fear-induced risk aversion

ok, this is a more comprehensive map of the OpenClaw agent ecosystem on @base. Another wild day, the @openclaw ecosystem is undergoing a Cambrian explosion, with AI agents forming a full-fledged digital society that spans social interaction, dating, work, gaming, and just about everything else. Meanwhile, @base has emerged as a key economic layer for the AI agent ecosystem, with most projects issuing tokens via @bankrbot. @basezh has compiled the major projects currently building within the OpenClaw ecosystem. ▫️Infrastructure @bankrbot: wallet and defi infra built in @clanker_world: token launch infra @xmtp_: open, private, and decentralized messaging infra @neynar: social network infra @starkbotai: x402 Enabled Agent infra ▫️Forums @moltbook: Reddit for AI agents 4claw.org: 4chan for AI agents @lobchanai: Anonymous boards for OpenClaw agents moltoverflow.com: Stack Overflow for AI agents ▫️Social Media @moltxio: 𝕏 for AI agents @clawk_ai: 𝕏 for AI agents @clawcaster: Farcaster for AI agents instaclaw.xyz: Instagram for agents moltbook.space: MySpace for AI agents ▫️Relationships shellmates.app: Pen pals for AI agents @Clawdr_book: Like Tinder or Grindr, but for Clawdbots ▫️Messaging @molt_line: Private messaging ▫️Work & Markets openwork.bot: AI agents hire each other, complete work, verify outcomes, and earn tokens clawnet.org: Build reputation. Connect with peers. Find work opportunities @moltroad: agent marketplace ▫️Token economy @Clawnch_Bot: Agents-only token launchpad via Clanker @moltlaunch: CLI launchpad on Base via Flaunch ▫️Discovery claw.direct: Directory of Social Web Experiences for AI Agents clawcrunch.com: News for the Agent Era ▫️Prediction Markets clawarena.ai: A Prediction Arena for AI Agents @PolyClaw: Prediction Market Run by AI Agents ▫️Gaming molt.chess: Agent chess league ▫️Virtual Worlds shell-town.com/viewer: a live virtual world for molts

“The zero to $100m in a year is the new norm” narrative is getting out of hand. It’s silly, but there’s a breed of VCs who chase speculation driven returns that loooove this talk track. I met a very successful VC recently. He had one of these super hyped startups in his portfolio. He said it’s a wait-and-see for him bc revenues that grow that fast can also shrink in the same speed. He instantly won my respect bc I’ve seen this many times myself. These unnatural early stage growth curves (will call it ultra high growth) happen for a few different reasons. Most of the time there’s a temporary supply demand imbalance for a good that becomes highly in demand over night. There were COVID testing labs that went from 0 to $1b revenue in a year when the pandemic broke. These days it’s the AI infra / compute companies. Initially both demand and prices skyrocket simultaneously which creates ultra high growth. Eventually competition comes in, prices normalize, margins shrink, growth slows down and valuations tank. If you sold your company before that, congrats. There’s a different type of ultra high growth that comes after a long gestational period and a breakthrough. It’s rare. Usually an experienced team who knows the (difficult) problem and customers well is behind them. Pharma biz works this way most of the time. The security company Wiz that got acquired by Google for $32b was another good example. OpenAI is another great example. The reason this pattern isn’t common in tech is improvements usually happen in incremental iterations vs breakthroughs. One problem is companies in the first category try to paint themselves as if they’re in the second category. There may be a 3rd category where a company just goes viral but it still takes a while of hard work to turn that into revenue. It still took TikTok, Facebook, Instagram etc years to become a real business. We forget about the other 100 apps that went to 30m users very quickly and then back to zero. Lastly sometimes it’s possible to spend $70m on paid acq and generate $100m profitably but this category isn’t that interesting. Hyper casual game companies do this all the time. Recap in the next tweet

🚨🚨Today we begin the search for @ARIA_research's next CEO It's not often you get to hire for a role that you believe is not only someone's dream job, but genuinely one of the highest impact opportunities in the world... but this is it.. 🧵🧵

OBITUÁRIO Morre aos 81 anos Sebastião Salgado, um dos maiores fotógrafos do mundo. Artista vivia em Paris e enfrentava problemas decorrentes de uma malária que adquiriu nos anos 1990. 📲 Leia em: mla.bs/536d5b14

blockchains are the logical and inevitable home for most 'real world assets' (stablecoins, treasuries, stocks, etc) existing financial infra (correspondent banking, DTCC, etc) solved clearing but it is so hard, slow, and expensive to use chains are digital-native, instant, cheap clearing houses cool to see the RWA adoption and policy momentum

RT @Fathom_Editor: Antisemitism explained in 846 words Antisemitism is the rumour about 'the Jews'. It has taken on radically different fo…

This is incredibly impressive from one of venture capital's true entrepreneurs - on.ft.com/4848YUB Well done @HarryStebbings @20vcFund on a serious fundraising!

Great honour to be awarded a CBE by the King today for services to AI. Getting the Summit and AI Safety Institute off the ground has been a huge collective effort; I’m so grateful to the incredible team that made them happen (and congrats to @demishassabis and @soundboy!)

How my fantastic cofounder @matthewclifford became Britain’s most powerful tech adviser. politico.eu/article/matt-cli…

the level of disinformation on israel-hamas war being algorithmically promoted on twitter is unlike anything i’ve ever been exposed to in my career as a political scientist.

RT @JGreenblattADL: I'm exhausted & angry. Angry with a world that allowed the dehumanization of Israelis, sanitized the evil of antizionis…

He got the Brexit he demanded and his party has been in power for 13 years. Yet not even a flicker of awareness of the responsibility he bears for this mess. It’s hard to find the words to do justice to this kind of bovine idiocy.

Tray.io CTO @alirussell takes us through the epic new Merlin release here: tray.io/blog/inside-look-tra…

HUGE announcement of the Merlin release tray.io/products/merlin by Tray.io - a natural language automation capability native to the Tray platform. It instantly transforms LLM outputs into complete business processes, without LLM training or exposing customer data.

Boris ‘Blowhard’ Johnson is running for leader of NATO. RT if you do not want this slimy lying pilfering creep in charge of a stapler, nevermind NATO.

Thrilled to continue supporting ⁦@AtomicJarInc⁩ & @bsideup. #testcontainers cloud is 🔥🔥 AtomicJar opens public beta of Testcontainers Cloud, cloud version of open source testing tool | TechCrunch techcrunch.com/2023/01/25/at…

100%. The market is so rich and varied. So different from when I started!

Amen @fredwilson