investing @Collab_Currency / @Dorm_DAO reply guy, dreamer
San Francisco, CA
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1/ SCALING THROUGH DECENTRALIZATION
This piece explores the motivations behind improving model performance in a decentralized setting.
Link in next tweet.
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Ronan retweeted
Crypto networks are great at aggregating supply, especially of compute, but matching it with economic demand has been challenging historically. Platforms like openrouter (x402 enabled) have aggregated AI compute demand while agents eliminate search friction for cheap supply.
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Cloudflare vision is very interesting, but I think there is a few issues with the approach, which roughly boil down to:
it assumes that web information is the end output, not answers/content
I want my agent to buy the answer, not fragmented pieces that may inform the answer
The Internet Needs Crypto to Survive AI: piped.video/watch?v=TKVY4hVA…
One of the most exciting, and underrated, developments in crypto atm revolves around this @Bankless conversation with @eastdakota of @Cloudflare.
~20% of all websites are routed through Cloudflare, and in this conversation Matthew tells us that the business model of the Web is under attack. To put it simply, agentic traffic is exploding, and agents don't click on ads, but ads underpin much of the "free" stuff we get online. The infrastructure is creaking under agent load.
Matthew's assertion is that microtransactions, at a scale not previously seen, will be needed to pay for access to content, as the advertising model of the Web falls apart with agents. Crypto people have talked about microtransactions forever, but it was for people, which never worked, whereas we're now contemplating it for agents.
He says Cloudflare handles ~500M requests per second, and that 1-10% of those requests may be suitable for this microtransaction model. A blockchain environment is the only payment network that could theoretically handle this scale, and it would need to hit 5-50M TPS.
5-50M TPS in prod dwarfs anything yet attempted in crypto, and is far beyond anything TradFi can handle. There are very few blockchain environments that could conceivably provide this throughput.
Just as important as the scale, is the model and trust assumptions. While Cloudflare may roll this out as a solution for its customers first, what's implicit here is the potential for an entirely new business model for the Web.
If Cloudflare walks this path, I hope that what they build has permissionless validation, allowing for anyone to audit the network.
Cloudflare has been a torch bearer for the open Internet, and so it only follows that if they're to pioneer a new business model for the Web, that the architecture be an open network. Doing so will engender the most trust, goodwill, and adoption in the long run.
Web 3.0 is dead, long live Web 3.0.
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Risk/reward of shoving 25% of Fairshake budget into anti-Sherrod ad campaign feels weak and poorly timed IMO
Republicans already outspending dems by $30m in Ohio, Sherrod was in office for 18 years…they’ve already heard everything to hear about this guy. If you are to spend, activating republican base would go further than advertising
‘Bipartisan’ approach is great on paper but taking a big shot here due to republican pressures feels short sighted
🚨Revenge spend: Following the demise of the Clarity Act, Fairshake is gearing up to make its biggest spend of the year: $30 million against Sherrod Brown as he takes another shot at returning to the Senate, where, if successful, he could reclaim his seniority and return as chair or ranking member of the Senate Banking Committee.
First reported by the NYT and confirmed to me by a Fairshake spokesperson.
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Ronan retweeted
Our portfolio company @grass has built one of the largest networks in the world with 3 Million+ real world users that leverage their unused bandwidth to supply critical data to AI labs and others for training and live context
Historically one pushback was that it was hard to understand the off-chain revenue of the business side of the network
Today, Regen Financial, a crypto accounting firm, reviewed every @grass customer work order and covered $32.1M in reported revenue across March–December 2025 and H1 2026
Building a business that serves traditional AI clients and leverages a crypto network with millions of users is the end game and this report helps address transparency questions by the community on their revenue
My take is Grass's tweets also show revenue is flowing to Grass Data Co LTD which is a subsidiary of the foundation that has no equity entity vehicle and is focused on the token. Short term I think Grass is correctly focused on growth and reinvestment which is and has been the correct choice and is driving the revenue growth
I am extremely bullish on @0xdrej and the @grass team in building a very largest and succesful AI infra company underpinned with millions of participants on one side and real paying AI clients on the other
Grass DataCo Ltd., a wholly owned subsidiary of Grass Foundation, provides data infrastructure to leading AI labs training frontier models.
We're publishing an independent attestation of its revenue through Q2 2026, conducted by Regen Financial.
Full report: grass.io/resources/grass-att…
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Grass has been criticized in the past for its comms.
TLDR here - all revenue flows to foundation (no equity), all reported revenue checked by a 3rd party (report attached)
Grass DataCo Ltd., a wholly owned subsidiary of Grass Foundation, provides data infrastructure to leading AI labs training frontier models.
We're publishing an independent attestation of its revenue through Q2 2026, conducted by Regen Financial.
Full report: grass.io/resources/grass-att…
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the CryptoAI bullposting has picked up considerably in recent days
until @0xKNL__ goes on Odd Lots, we are unironically so early team
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the PoUW coins have varying degrees of subjectivity/usefulness, but this idea:
"PoUW was tried for years and didnt work, why would it now"
is uninteresting to me. same thing played out with prediction markets, privacy coins, perp DEXs....many iteration cycles may be bullish!
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I think it's fair to say that over the past year the BTC story was impaired, to some degree, by government coopetition, Saylor, and a bit of quantum. ZEC is seemingly signaling this.
*huffs gas*
if ZEC is as to BTC as SOL was to ETH last cycle, I want to find LUNA/AVAX?
thought provoking, spicy and def a bit sensational
but if you dont subscribe to the idea that tradfi can just clone everything with a regulatory wrapper and win (I dont), it reads more like a BTC + BTC.D bear thesis than an all of crypto one
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my current view of $PRL is that the BTC / vanilla SOV comp is likely wrong, rant below:
it looks similar in that:
they both bootstrap a massive supply side of compute via the mining game
for BTC, it stops there: create large economic security via PoW for an SOV asset
but for $PRL, it directly goes after people already running AI workloads. why? IMO, it is not to be 'AI money' in the traditional sense, or to piggyback on the massive AI infra buildout to get more hashpower for the sake of more hashpower
its to build a decentralized compute marketplace, this is stated in the whitepaper: once large compute providers are earning $PRL for free, they may in turn sell AI workloads in exchange for $PRL.
this is what could incentivize people to hold or hoard $PRL: you own an asset that offers a perpetual claim for completing AI workloads... in a world where demand for reserved compute is up only, this is very valuable!
Today, compute providers earn $PRL at effectively zero incremental cost while running existing AI workloads.
The tougher question is: why would they accept $PRL in exchange for selling compute directly?
The whitepaper points to two benefits:
More efficient settlement: Pearl can verify that a requested amount of computation was actually performed and settle the contract onchain.
More efficient market formation: Pearl can normalize heterogeneous compute - different hardware, precisions, and workloads - into a fungible marketplace.
If those efficiencies create deeper demand and better matching of otherwise idle capacity, providers could achieve higher utilization and monetize a greater percentage of their compute investment. I.e. the Pearl network surfaces demand that was otherwise stuck behind the existing compute marketplace landscape
you have to believe *alot* for this^ to be true, but trying to tease out why or how compute providers would be actually willing to participate in the Pearl marketplace, because this is what ultimately drives holders to hold $PRL as a claim on AI workloads....
I am coming around to the idea that $PRL needs to be re-evaluated in a positive market environment
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appending for viz: SoV with fundamental driver is the bet
Ronan has a great take on Pearl's ability to be valued as guaranteed access to scarce future compute.
My perspective is Pearl becoming a compute reserve asset reinforces its SoV monetary premium, and heightens its comp to BTC.
I write about this in my Pearl research.
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Ronan retweeted
Thinking aloud about $QURE 4yr data again today (I do this most waking hours). On the price action analogue vs. BLA/FDA submission: perversely, I think the odds of material upside on clean catalyst are much higher this time… precisely because the downside is so severe.
"Bad data" (meaningful reversion to mean, complications) would be disastrous and call the whole program into question. Clues suggest otherwise, but small n trial, obviously not negligible. That near-term tail makes stock un-investable for many (FDA circus aside).
"Good data" (anything showing durability; effect widening is cherry on top) is less about proof it works, than removing an existential near-term negative (however remote). Clearing it lets the stock shed most of its “Bayesian risk of ruin discount” and opens it to tighter stopped, more loss averse investors.
tl;dr: the downside case **is** the upside case. Invert, always invert. 🫡
(Will delete if wrong 😬)
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Dan Wilson pinch hitting the worst right-handed hitter you've ever seen to avoid a lefty on lefty matchup
What happens when every NBA team works from the same data?
Former Phoenix Suns Assistant GM Ryan Resch on why dashboards show lagging indicators, and why the edge comes from proprietary questions built on public data.
On Infinite Loops with @jimmyasoni.
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