You see a trillion dollars. Gavin sees 3/4 of a mile of high speed rail.

Reminder for all young parents: You only get: - 1 Summer with your baby - 3 with your toddler - 9 with your child - 5 with your teenager This time is precious. Don’t rush it.

I'm one of the people most directly responsible for this outage. I take Sui outages extremely personally and am incredibly disappointed that this happened. I'll echo what @EvanWeb3 said: Moving fast is no excuse for outages. This outage was caused primarily by an edge case in gas smashing introduced by address balances. However, we did not ship this feature carelessly. We spent over 6 months testing address balances and tried as hard as we could to exercise every edge case and combination of features we could think of. Unfortunately, we were bitten by an edge case that we did not discover during testing. Again, this is not an excuse - it shows that our testing strategy was inadequate, despite how much effort we put into it. We did not have a systematic way to enumerate or discover all possible edge cases. We will be re-examining our approach in light of this. But I do want to emphasize that we did not ship this feature carelessly or in a rush. We made mistakes, but we were absolutely not operating in "move fast and break things" mode. One more thing: Address Balances is by far the biggest change to Sui's execution model that we have shipped, and we don't have any plans to ship anything this large and disruptive again. It was a necessary change to make Sui into what it should be, but we don't seek out huge disruptive changes like this for the sake of it. Now that the feature is out we will be redoubling our efforts to make Sui the most reliable L1. We have a lot of work to do, I'm excited to start on it!

Even ignoring the formal verification angle, "AI is good at finding bugs so software will always be insecure" is fundamentally a very weird idea that stops making sense if you think about it for 2 minutes

Postel's Law (Be conservative in what you emit, liberal in what you accept) is bad advice. It's infinitely harder to make your software stricter in the future than to make it looser, so start out as strict as you possible can be.

Something people don't understand about LLMs and security: It's not an arms race. Once you fix all the bugs, you win. Defender has the advantage! There is no AI model powerful enough to find bugs that don't exist.

We've been working on a more scalable read and write layer for @SuiNetwork. Our solution, codenamed Hikari, is a near-parity drop-in replacement for Sui gRPC nodes, and unsupported requests automatically fall back to a full node. On the read side, we designed a custom storage backend that's fronted by multiple layers of caching, each serving a unique purpose. In our benchmarks for GetCheckpoint and GetTransaction requests conducted in 5 regions around the world, we're seeing the following p90 results: - Baseline Full Node: 400ms - Hikari (Origin): 54ms - Hikari (L3 Cache): 42ms - Hikari (L2 cache): 37ms - Hikari (L1 cache): 28ms - Hikari (L0 cache): 20ms That's a 22x improvement in latency. For writes (transaction submission), we implemented a lightweight service that's edge-deployable. Furthermore, unlike full nodes, Hikari can be horizontally scaled up in seconds. We benchmarked Hikari against fullnode.mainnet.sui.io across 5 regions, and achieved a 15-25% faster p90. We are working closely with the @CodaNetwork team to pilot Hikari. After a successful testing period, we will make Hikari available for the broader ecosystem.

The Pacific Ocean is so vast it could hold 16 Polands

Almost 6% of all @SuiNetwork activity come from @AftermathFi perps.

I love that I can't tell if in advance if the socialist position is going to ban the chain grocery stores from opening or ban them from closing. Could be either. Could be both!

Huge repository of information about OpenAI and Altman just dropped — 'The OpenAI Files'. There's so much crazy shit in there. Here's what Claude highlighted to me: 1. Altman listed himself as Y Combinator chairman in SEC filings for years — a total fabrication (?!): "To smooth his exit [from YC], Altman proposed he move from president to chairman. He pre-emptively published a blog post on the firm's website announcing the change. But the firm's partnership had never agreed, and the announcement was later scrubbed from the post." "...Despite the retraction, Altman continued falsely listing himself as chairman in SEC filings for years, despite never actually holding the position." (WTAF.) 2. OpenAI's profit cap was quietly changed to increase 20% annually — at that rate it would exceed $100 trillion in 40 years. The change was not disclosed and OpenAI continued to take credit for its capped-profit structure without acknowledging the modification. 3. Despite claiming to Congress he has "no equity in OpenAI," Altman held indirect stakes through Sequoia and Y Combinator funds. 4. Altman owns 7.5% of Reddit — when Reddit announced its OpenAI partnership, Altman's net worth jumped $50 million. Altman invested in Rain AI, then OpenAI signed a letter of intent to buy $51 million of chips from them. 5. Rumours suggest Altman may receive a 7% stake worth ~$20 billion in the restructured company. 5. OpenAI had a major security breach in 2023 where a hacker stole AI technology details but didn't report it for over a year. OpenAI fired Leopold Aschenbrenner explicitly because he shared security concerns with the board. 6. Altman denied knowing about equity clawback provisions that threatened departing employees' millions in vested equity if the ever criticised OpenAI. But Vox found he personally signed the documents authorizing them in April 2023. These restrictive NDAs even prohibited employees from acknowledging their existence. 7. Senior employees at Altman's first startup Loopt twice tried to get the board to fire him for "deceptive and chaotic behavior". 9. OpenAI's leading researcher Ilya Sutskever told the board: "I don't think Sam is the guy who should have the finger on the button for AGI". Sutskever provided the board a self-destructing PDF with Slack screenshots documenting "dozens of examples of lying or other toxic behavior. 10. Mira Murati (CTO) said: "I don't feel comfortable about Sam leading us to AGI" 11. The Amodei siblings described Altman's management tactics as "gaslighting" and "psychological abuse". 12. At least 5 other OpenAI executives gave the board similar negative feedback about Altman. 13. Altman owned the OpenAI Startup Fund personally but didn't disclose this to the board for years. Altman demanded to be informed whenever board members spoke to employees, limiting oversight. 14. Altman told board members that other board members wanted someone removed when it was "absolutely false". An independent review after Altman's firing found "many instances" of him "saying different things to different people" 15. OpenAI required employees to waive their federal right to whistleblower compensation. Former employees filed SEC complaints alleging OpenAI illegally prevented them from reporting to regulators. 16. While publicly supporting AI regulation, OpenAI simultaneously lobbied to weaken the EU AI Act. By 2025, Altman completely reversed his stance, calling the government approval he once advocated "disastrous" and OpenAI now supports federal preemption of all state AI safety laws even before any federal regulation exists. Obviously this is only a fraction of what's in the apparently 10,000 words on the site. Link below if you'd like to look over. (I've skipped over the issues with OpenAI's restructure which I've written about before already, but in a way that's really the bigger issue.)

afLP has deployed almost half of its TVL into 4 markets in it's first 10 days and is the largest market maker on @AftermathFi. We just deployed our first epoch of incentives and APY is looking great at 30% on top of the trading PnL and liquidations it's collected. Expect more markets this week! Trade & deposit today: aftermath.finance/perpetuals

The true size of Portugal compared to Spain

With all due respect to Chris, I completely disagree with this take. Chris argues that "web3," particularly crypto-powered gaming and media, failed due to scams and regulation, and that better regulation will unlock these non-financial cases. OK, think about this for a second. Does this pass the smell test? Do you think web3 gaming failed because of Gary Gensler? Do you think web3 media plays failed because the scammers crowded out the honest media innovators? Really? If this is true, why didn't they kill financial crypto, which had WAY more of both? Financial use cases were right in the crosshairs of the regulatory harassment, and they also attracted way more scams. Why shouldn't we instead accept the more obvious answer: non-financial use cases for crypto have failed because no one wants them. Let's just admit it. They were bad products. They failed the market test. It was not Gensler or SBF or Terra that caused these things to fail, it was that no one wanted any of it. Pretending otherwise is cope. Enormous sums of capital and talent explored these ideas, and we should acknowledge what we learned. That lesson is not "if we just had better laws, then finally people would finally be using decentralized Spotify" or whatever. Call a spade a spade. Every single use case in crypto that has worked at scale has been financial in nature. 2008: Bitcoin - non-sovereign store of value 2014: Tether - stablecoins 2015: Ethereum - programmable money 2017: ICOs - capital formation 2018: Prediction markets (Augur, later Polymarket) 2020: DeFi - literally finance is in the name 2021: NFTs - non-fungible financial assets (to the extent they worked) 2024: RWAs (the year BUIDL took off) All this stuff was adopted bottoms-up. We as investors discovered that people wanted to do these things with crypto. The web3 consumer stuff, on the other hand, was primarily conjured up by investors and pitch decks, ZIRP accelerationism, and "wouldn't it be crazy if" blog posts. This was the opposite of the "what smart people are doing on their weekends" thesis. In fact, if you go back to the Ethereum white paper from 2014, almost every single Ethereum use case Vitalik describes is financial in nature: token issuance, stablecoins, derivatives, on-chain treasuries/DAOs, on-chain savings, insurance, price feeds, escrow, gambling, prediction markets. It's all in there. This is nothing to be ashamed of. Finance is almost 10% of GDP. It's an enormous part of the world economy, and banks are some of the lowest NPS score companies in the world. People hate their banks and the outdated financial architectures their money runs on. It's literally why Bitcoin was created. There is so much to innovate in the realm of finance, and I truly believe we are only at the beginning of that displacement. You don't need to assume anything more to project the next 10x in crypto. The old saying goes "crypto will do to finance what the Internet did to every other industry." I respect Chris's optimism. But 18 years in, we should not be propagating this meme about consumer web3 use cases as though they're inevitable. If you are hanging around the rim hoping that crypto is going to disrupt media and gaming, you should know the history and look at it with clear eyes. Now if you as a founder believe that despite that, you know the secret to cracking this market--I respect that, and I certainly don't begrudge anyone to follow their convictions. But I think it's important that investors be honest that all the evidence points the other way.

1/ High-throughput blockchains are hitting the physical limits of LSM trees. While RocksDB is great for general workloads, it chokes when storing terabytes of hashed data (transactions/objects).

The only thing that is special about SF/SV is that everyone is already there. Most can't leave unless everyone else does too! If you are the running the place, the last thing you want to do is create Schelling points / common knowledge that everyone is going to leave!

Current type safety discourse: People who have only ever used Go, C , or Java opining on why types aren't very useful.