🧵 Stablecoins and the Overhaul of Global Credit Lets explore how stablecoins are helping the US distribute its debt globally — and why stablecoin issuers may become the world’s most efficient credit allocator.

top notch sundaaee

Blocking an AI model access outside US has similarities to US sanctioning out Russia from global dollar flows. Suggests how little control countries have over things they are importing & how US is isolating itself and will see that backfire (like BRICS cancelling swift)

anyone not on obsidian is fucking late to obsidian (including me)

new assistant loaded, what should I do with it?

amazing deep dive into end-to-end brand design process! figma.com/proto/fSeQqlIw4aZp…

love the quote

Introduces the most uninteresting thing, only to say "this is where things get genuinely interesting"

A good reminder from graham on how stocks have not been an obvious bet against inflation. Infact the rightmost part of the chart is the most interesting - the higher the inflation, the more erratic and mostly underperforming markets.

what did people do before fans were invented??

need a roller skating ring in blr

The MVL analysis in the article provides a strong case for information as the end product for PM platforms as opposed to them being just a speculative engine. The article presents a case on how with time, most prediction markets will have a low liquidity requirement for participation as the cost of predicting would have parallely also reduced. We wont need the depth in individual PMs that we think we'll need. How things might change as information becomes the product: 1 - First set of uninformed users (noise) and subsidies from existing platforms will fuel information prediction agents - such as people building CPI prediction tools - such that eventually cost for predicting goes lower. 2 - There'll be smaller markets like sports, weather forecasting - where cost of coming with a prediction would be low and thus low liquidity need. 3 - This shift in overall cost of expertise (cost of placing a calculated bet), will lead to PMs focusing on bringing more markets live as expected to the initial focus on market depth. More volume of thin markets will be the new normal. 4 - Information becomes the product. Companies and institutes ask and incentivise PMs to list their questions. The market outcomes help companies eliminate uncertainties in their internal decision making - they know how much revenue they might generate, the number of phones they might sell or the expected CPI. We will start seeing various new second order effects of information becoming readily available. Essentially a future where prediction markets commoditise information generation and the cost of resolving uncertainty. Their use within corporates is probably the tip of the iceberg then of what's be possible.

indians tend to not fully commit to jobs or career paths, and tend to keep options open a startup founder might keep two products running as he explores the third one, an employee might keep an eye out for openings outside his company, and an artist might part time as a corporate employee primarily because we’ve grown up in a competitive environment where doing one thing absolutely right might still end up as a disappointment takes inner engineering to flip the switch and go all in, but perhaps better to feel happy that you gave it all than regret over not doing enough

10y old and unbeatable, pure work of art youtube.com/watch?v=Mh5LY4Mz…

I used to think these article dictations are AI generated. But check 1:45 of this script?? I’m so confused.

was reading about fractals and self organised criticality today and the relation between the two. fractals show up everywhere in nature - tree branches, river deltas, leaf veins, blood vessels, snowflakes. And the more you look, the more you realise that they're nature's solution to distribute or acquire resources across a complex system as efficiently as possible. meanwhile self-organised criticality - where the fractal pattern isn't in a physical structure but in how a system arranges its components over time - forest fires, earthquakes, disease spread, stock market crashes - these systems sit perpetually at the edge of order and chaos, and when they tip, they cascade. the standard reading of cascades is that they're failures - things going wrong. but I think that gets it backwards. These systems probably organised themselves this way for the same reason trees did: to maximise coordination and information transfer across the whole network. And the cascade is a consequence of the same. the destruction is probably a side effect of the coordination working as designed.

I believe that the next defi wave will be captured by protocols that can provide risk management systems. Aave's V4 design, Morpho's yield vaults, and Pendle's fixed yield markets are all examples of this. @axcess_finance is a natural addition to this broader market shift - they aim to provide undercollateralised private credit through a novel onchain risk management engine. Excited for the team!

steve jobs would have had a stroke if he saw all your iphones today

Wow, pretty strong correlation.