2025 Year in Review: 2024-2025 YoY: 45.8% Since tracking (Feb 2013): 2,676% or 31.1% CAGR Max drawdown: 12.3% (Jan 24 to April 11) Calmar: 3.7 Sortino: 3.1 Sharpe: 1.5

$QURE $CLPT The funny thing is that with the AMT-130 BLA, a new FDA and progress in the UK approval risk has been materially reduced and it’s an even stronger buy today at $47 than it was yesterday Keep me honest @peter_mantas and @Biohazard3737

Some good news for a welcome change $QURE $CLPT

Dude was more right than he realized at the time.

Beyond violating civic liberties for all, this will be a near extinction event for the Canadian tech sector, especially those that work in the security or online sector. Carney’s government policies are making Canada more autocratic and strengthening the already too powerful oligopolies. The message being sent to young smart Canadians is go work for a domestic oligarch and say thank you for the depressed wage you will get if you’re lucky enough to be hired. Ambitions of grandeur via entrepreneurship? In technology of all places? That reminds us too much of Elon Musk, sorry.

Say what?

To the victor go the spoils? Sick to my stomach.

Danny says it well but I will also add that it means that a much more dangerous war is coming for Israel. Trump swept it under the rug but anyone who understands even a little bit about the regime in Iran knows that they are fundamentalist and will never give up their desire to literally destroy Israel. From what we can tell so far about this agreement is that it makes a future conflict extremely likely and probably not too far away.

I’ve had a number of conversations with folks inside and outside government about the current situation with Anthropic, and here is what I believe to be true: — As we know, Anthropic publicly released its Mythos class models earlier this week under the commercial name Fable. — Fable is Mythos with guardrails. But if those guardrails fail, then you’ve exposed Mythos and its advanced cyber capabilities to people who shouldn’t have them. (Keep in mind that Anthropic itself widely promoted the idea that Mythos was a cyberweapon and needed to be regulated as such. They asked for government regulation of Mythos and championed the guardrails on Fable. If there is a vulnerability — big or small — it is Anthropic’s responsibility to patch.) — A highly credible trusted partner of both Anthropic and the USG who was testing Fable came forward with a jailbreak of those guardrails. The Admin asked Dario to fix the jailbreak or de-deploy the model. Dario refused. — In their blog post, Anthropic defended its decision by saying the jailbreak isn’t serious. That is not what the trusted partner and the USG believe; nor is that kind of minimizing language consistent with Anthropic’s brand as the AI safety company. It’s difficult to fathom how they could claim a jailbreak allowing operability of a cyber weapon could be defined as not “serious.” — In the past, Anthropic has always said that safety must be top priority and taken super seriously. In this case, Anthropic prioritized the continued offering of the consumer model over safety. — In reaction, the Admin issued the export control. The Admin did this reluctantly. It’s been very surprised that Anthropic hasn’t wanted to cooperate with a reasonable safety request (ie fixing the jailbreak issue). Anthropic’s reaction is very much at odds with their branding and ethos as a safe AI research community. — The Admin’s hope now is that Anthropic remediates the safety issue, the export control is lifted, and Fable goes back into general release. The Admin wants all of this to happen as soon as possible. It is frankly bewildered that Anthropic hasn’t wanted to comply with safety requests that it previously said were its highest priority. — Those trying to misdirect and tie this action to the prior DoW/Anthropic issues are wrong. The Admin values Anthropic’s technical capabilities and feels that this issue, while serious, should be easily resolved. The ball is in Anthropic’s court.

Think Anthropic’s Amodei is one of the dumbest CEOs I have ever seen. He thinks he lives in a bubble of EA devoid of real world constraints like the USG. He thinks he lives in a truly free country where he can do what he wants and tell the frickin’ USG “no” and be done with it because he has the best goods out there. What he seems to not realize is that 1- a free country does not exist anywhere when the stakes get high enough (which he helped create with his AI doomerism hyperbole) and 2- BECAUSE he has the leading product it makes the USG have to be able to use it unfettered otherwise they wouldn’t care as much. This is the shakedown of shakedowns timed pre-IPO for a reason.

This is unsurprising if you view Canada for what it is structurally. An oligopoly that sees any single success as a threat to the status quo to the current Canadian cartels and a “don’t get any ideas, fellow Canadians” reminders from the elite and governments.

So here’s the thing with $SPCX IPO tomorrow and $SATS Assuming it opens mid-day, there is the first half of the day where price discovery of opening price will occur and $SATS can play the part of a vehicle participants trade ahead of the open. The same applies if it opens and gaps up further and hits circuit breakers. So, I’m not saying or expecting theatrics per se as we all know the IPO valuation, but there IS a scenario where the whole thing gets stupid and $SATS goes for a wild ride to the stars.

3 years ago, an "American" Youtube channel pops up attacking me. Odd. America loves Nas Daily. Today, @EllaTravelsLove investigation shows this channel is based in Qatar. When will the West wake up.

*DATA CENTER DEVELOPER CRUSOE PAUSES AI PROJECT IN WYOMING Crusoe, a data center developer for hyperscalers, announced they’re pausing development activities of a 1.8GW campus in Wyoming at the request of its customer. “Crusoe was working with Blackstone Inc.-backed energy company Tallgrass to develop a 1.8-gigawatt campus in Cheyenne, Wyoming, for an undisclosed tenant. “At the request of our customer, Crusoe has paused its development activities” on the site, the company said Tuesday in a statement.”” Customer likely a hyperscaler hitting the pause button. At least partially being attributed to tech dump

Just a thought on tops and bottoms and cycles. Lots of talk about IPOs sucking liquidity out of the markets which would make sense if they were raising cash to hoard it. But what do you think SpaceX, OpenAI and Anthropic are going to be doing with a good chunk of that cash? All roads lead to semicap (for now).

If you’re looking for an interesting risky punt on a SPCX proxy, $SATS looks interesting to me. Very high short interest and a bit of a shitco holdco but sum of the parts nav significantly higher than market cap on SPCX valuation at 1.75T or higher (they own equivalent 2% thru spectrum deal) and has some potential for a stupid short term outcome starting June 11 when they’re supposed to sell off spectrum to $T and then the SPCX IPO the next day. Depending on how SPCX liquidity looks like on day one, I can see $SATS potentially catch a bid. Most likely not but I have a small bet going in my shitco account.

You can't say "A is exponentially <x>er than B". I know lot of people say things like that, but it makes no sense. You could say that A and B are on a growth curve that appears (locally) exponential. But you need more than two points on the curve to identify it as exponential. And in the real world, every growing exponential eventually turns into a sigmoid, once the friction terms start dominating the dynamics.

Canada’s public AI will start every session with a land acknowledgement mapped to which data centre is being used to compute the response. Depending on your minority and/or gender status, you will either get the small model or the large model, you know, for equalization.