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LLMs cannot & will not ever be useful for scientific reasoning. LLMs will be useful in exposing non-scientific pseudo reasoning. Put another way probabilistic chains of thought cannot build & understand abstractions.

Stablecoin thought for the day (US). The cost to a merchant to accept a debit card is fixed at $0.21+5bps (for non exempt). Some merchants process at $0.06-$0.10 (Pinless PIN). These credentials are with every US banked consumer and accepted by every merchant. Consumers don't

Saying LLMs can be intelligent is like saying pigs can fly. LLMs are good at probabilistic retrieval the same way pigs are a good source of pork.

Will some AI’s ever be ‘intelligent’? Probably, once we can define intelligence & build systems to a specification. Anyone who tells you LLMs are intelligent / sentient are either lying or cult leaders.

good lord

Trump Says Iranian Nuclear Deal Isn’t Necessary After U.S. Strikes - WSJ "We want no nuclear," he said, but he added: "We destroyed the nuclear." once more with feeling ... jesus, we deserve all of the bad things that are going to happen to us.

The majority of people care more about their reputation than their integrity; they are scared of being labeled. This is the trick used by that "certain lobby group" to terrorize them into submission. But the trick fails with right wing excentrics such as Marjorie Taylor Greene 🇺🇸.

People keep asking me how this can happen, as Bezos has all the money in the world. It's not surprising to me that a culture that devalues clothing, makes it hard for artisans to survive (e.g. skyrocketing rents in big cities), and worships celebrity, luxury, brand names, and

Super post.

hah

exactly this!

Don't get too angry abt class privilege & get blocked here; people from aristocratic background (or modern patrician class) can take positions that reflect their conscience, & have no fear for their reputation (Russell, Wittgenstein, & of course our William Dalrymple).

All of financial ‘innovation’ - all of it! - is designed either to securitize something or apply leverage to something. Stablecoin ‘innovation’ securitizes the ~2T in $100 bills in circulation, mostly outside US, and creates a politically palatable CBDC by wrapping it in various

Tokenization isn’t progress if it doesn’t do something better. Stablecoins didn’t win because they were new. They won because they actually worked. If your RWA doesn’t reduce cost, add access, or add functionality, it’s just a worse version of TradFi.

The problem of waiting too long for revenge is seeing your enemy's downfall without your involvement.

You’re so close.

so low bar then.

Over-generalizing, but in a start-up: First 10 employees looking to do it their way First 51-100 employees looking to be part of something great 100-500 just don't want to work at a Big Company 501+ want to work at a more nimble Big Company. they just don't know it.

We just lived through most consequential 24 hours in financial services law for the past two decades. And it will bring the biggest transformation of financial technology since the 1970s. Here's what happened and why it matters 👇

Long blog - Why Stablecoins represent the biggest card network growth opportunity in the next 10 yrs. Both network expansion and volume. V/MA are already leading the way. Today's blog is focused on how stablecoins solve cross border with an overview of what is happening and