Partner @FactionVC. Advisor @LightspeedVP. Previously @DCGco. Fascinated by all things Crypto ∪ AI. Views are my own and posts never investment advice.

Joined June 2014
79 Photos and videos
Tim Khoury retweeted
I would like to make a few brief points; - Opensource ai is not the same thing as opensource software. The models cost tens to hundreds of millions to make. This is not gonna be a volunteer effort from people doing stuff after work for free. - the second you release a weight set, you lose any ability to make money serving your own model and recoup the training cost. This very simple property means open-weights is unsustainable. - the things you ACTUALLY want from opensource ai is: transparent behaviour, dispersed ownership and control, a guarantee of access, the ability to build on it/modify it, and privacy. protocol learning gets you all 4 and is the only alternative to closed models that makes any kind of sense. By protocol learning I mean a very specific, novel thing; collaborative training and development of the models without anyone ever being able to see the complete weight set.
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Tim Khoury retweeted
Replying to @bourscheid
No, you don't get it. He does not have $1 trillion sitting in cash, it is 99% stock in his companies. To make that wealth liquid would mean selling all that stock which would swiftly destroy *both* the companies (Tesla, SpaceX, others) and the wealth. If he sold it all, he'd end up with maybe $100b max, several hundred thousand people would be out of work, the companies ruined and many of their suppliers also ruined. Okay, but now Elon has $100b in cash, and can "solve the world's problems". $100b divided by the world's 8 billion people is $12 If you were in charge, several of the most innovative industrial companies in the world would be destroyed, hundreds of thousands out of work, and space would again close to human civilization for another generation. But everyone on earth could have one nice meal and you could revel in your altruism.
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Tim Khoury retweeted
This is a great acquisition for @Figure. Key points on the Kiavi deal: - Massive TAM in first lien RTL and DSCR loans - first lien 25x larger than 2nd - Kiavi 2025 numbers: $7B of volume, $250M revenue, $100M EBITDA - $100-$200M of starting volume to Democratized Prime, majority of volume trading on Connect - Cash $538M transaction, ~4 year unlevered payback - Launch of AI adapter to standardize assets into Connect, Democratized Prime with Kiavi loans first to onboard - Figure model - direct and repurposing engine for partners - should supercharge growth - Figure maintaining 60% blended EBITDA margin target figure.com/newsroom/company-…
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Tim Khoury retweeted
Jun 10
Exciting news: We entered into an agreement to acquire Kiavi, bringing the country's #1 Residential Transition Loan (also known as "fix and flip”) platform into the leading home equity marketplace. The deal marks a deepening of our relationship with Sixth Street. We are purchasing Kiavi’s technology platform, and a new JV between Figure and Sixth Street will originate RTL loans off Kiavi’s balance sheet and sell them via our blockchain-native marketplace, Figure Connect. This is big news for our network of 380 partners. We're also introducing Adaptor, our newest AI feature with agent-to-agent capability, built to eliminate months of administrative headaches as we onboard new partners. A big day at Figure! Check out this story with Figure CEO @MBTannenbaum and Bloomberg's @pat_clarkbloomberg.com/news/articles/…
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Tim Khoury retweeted
Fable 5 is state-of-the-art on nearly all tested benchmarks, with exceptional performance in software engineering, knowledge work, scientific research, and vision. The longer and more complex the task, the larger Fable 5’s lead over our other models.
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Tim Khoury retweeted
Each time we release a model, we run the same test: give it code that trains a small AI model, ask the new model to speed it up. It takes a skilled human 4-8 hours to reach 4x faster. In May 2024, Claude Opus 4 averaged a ~3x speedup. This April, Mythos Preview achieved ~52x.
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Tim Khoury retweeted
The next evolution of Hermes Agent is here! Introducing Hermes Desktop: everything you love about Hermes, now native on your machine. First demoed in Jensen's GTC keynote, it's now in public preview.
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Tim Khoury retweeted
We have been working closely with @nvidia to ensure Hermes Agent works smoothly on their new @NVIDIARTXSpark superchip and integrates with the new OpenShell runtime, which connects Hermes to @Microsoft's security primitives. Watch our feature in the big announcement at Computex:
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Tim Khoury retweeted
It's a big week for Hermes Agent.
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RT @The_DTCC: DTCC and the Stellar Development Foundation announced today plans to enable the tokenization of DTC‑custodied assets on the @…
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Tim Khoury retweeted
AI has now solved a major open problem -- one of the best known Erdos problems called the unit distance problem, one of Erdos's favourite questions and one that many mathematicians had tried. openai.com/index/model-dispr…
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Tim Khoury retweeted
Today we're releasing Agora: the first ever pretraining stack that allows non-collocated consumer GPUs to be competitive with centralized clusters Agora is 15x faster than Megatron-LM in this setting and is only 1.5x less efficient in terms of tokens per unit compute than TorchTitan on H100s, despite running on devices that have no NVLink or InfiniBand support.
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Tim Khoury retweeted
Hermes Agent v0.14.0 - “The Foundation Release” Changelog below
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Tim Khoury retweeted
May 17
Over half a billion has been deployed into the Ethena Market on Kamino. Solana DeFi szn.
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Tim Khoury retweeted
Thrilled to announce a $12.5M strategic investment to meet accelerating demand for crypto wallets and verifiable computing. With participation from @circle_ventures, @archetypevc, and existing investors @BainCapCrypto, @FactionVC, @galaxyhq, @sequoia, and @variantfund.
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Tim Khoury retweeted
Replying to @mikebelshe
Blockchain securities don’t need DTCC…
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Tim Khoury retweeted
JUST IN: 🇺🇸 Senate officially confirms pro-crypto Kevin Warsh as Federal Reserve Governor.
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RT @MBTannenbaum: Q1 results are in @Figure / $FIGR . We’re a Rule of 140 company, which I am proud of bc it captures our ability to scale…
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