A summary of the Gensler era by the United States Courts of Appeal: D.C. Circuit: "arbitrary and capricious" Third Circuit: "arbitrary and capricious" (new) Eleventh Circuit: "arbitrary and capricious" 1/2

tldr: AI democratizes the baseline for builders. But taste + capital is still a moat. Quality x speed wins. ---------------------------------------------- Product teams with "nothing left to build" are pure fiction. Yes, LLMs make v0 cheaper. Yes, everyone can ship now. No, this doesn't mean anything for being world-class. As @diogomonica mentions, more entrants → distribution costs go exponential. Everyone has the same stack. Differentiation is dead unless you truly excel. While others celebrate their codegen MVPs, teams with genuine taste will use freed bandwidth to build truly high-craft applications. @instagram, @facebook, @YouTube = millions of engineering hours. That level of polish used to be reserved for big tech only. Now a 5-person startup can achieve the same craft density if they execute properly on areas with impact. The nuance: Yes, some startups won't need heavy capitalization anymore. But the very best teams understand capital as leverage, not just runway. They'll use it to move faster, hire specialized talent, and build experiences that still require serious resources.

Update: have made a dozen intros from this tweet. Some loose takeaways on the market right now: 1. top talent being re-priced as we speak: staff+ TC up 30-50% from 2y ago 2. Design engineers at big premium. Engineers who design even higher. 3. SF in person premium so back

Delighted to have Mark join us at @HaunVentures. He brings hands-on experience as both a founder and early crypto builder, with a history of launching products and helping internet-native communities scale from the ground up. Welcome!

"A prosecutor can 'cut a subpoena'—demanding all your bank records for the past 10 years—with no judicial oversight or limitation on scope, and at no cost to the government. The burden falls entirely on the bank. In contrast, a proper search warrant must be narrowly tailored, with probable cause and judicial authorization." - @katie_haun in a piece titled "The Bank Secrecy Act is failing everyone. It’s time to rethink financial surveillance." for @techreview. (link below)

It's weird to live in the Bay Area and know that out there in America summer is happening for a lot of people.

E131: @diogomonica: Why DEFI will NEVER WORK, unless these two things change! Diogo Monica is the General Partner at @HaunVentures, President at @NEARFoundation, and the co-founder of @Anchorage. Join me for this captivating 2-hour conversation with Diogo - a crypto founder turned VC, now backing the next wave of blockchain innovation and driving mainstream adoption through Anchorage Digital, the first federally chartered crypto bank in the U.S. Timestamps: 0:00 Introduction 1:54 Partnerships: @JupiterExchange, @KASTcard, @BitwiseInvest, @SuiNetwork, @Mantle_Official, @ForzaBitcoin 2:44 Beauty Privilege Is Real 3:26 Why Fitness Builds Trust 8:30 Who is Diogo Mónica? 9:56 Self-Custody with @Trezor 10:48 Silicon Valley Changed Everything 12:03 Why I Left San Francisco 15:52 The Crypto Traveling Circus 18:31 Stablecoins & FinTech Founders 20:36 Ambition Through Discomfort 23:17 Retirement Is a Myth 25:25 The Evolution of Jack Dorsey 27:37 The Cost of Working Sundays 29:10 Working Sundays & Culture 33:51 Missionaries vs. Mercenaries 36:26 The Loneliness of Founders 38:09 Why Starting Is Easier Now 40:32 Watching Your Team Disappear 43:13 Hiring Self-Starters Only 45:29 Why Most Startups Fail 51:56 Is Life a Single-Player Game? 53:28 The Struggles of Solo Founders 55:43 The $1.5M Bitcoin Mistake 58:13 The Magic of Zero to One 58:50 Why Zero to One Needs In-Person 1:00:02 Scaling From One To Hundred 1:00:54 From Employee To Multi-Founder 1:05:10 Proactive Mental Health Care 1:06:24 Starting Couple Therapy Early 1:07:24 Founder Burnout Is Common 1:09:33 Entrepreneurs Becoming VCs 1:10:35 Founder Vs. Venture Investor 1:12:41 Why VCs Seem Arrogant 1:15:13 Why Founders Make Bad VCs 1:16:20 VCs Have Higher Expected Value 1:19:01 The Accountability Gap In VC 1:21:19 Why I Joined Haun Ventures 1:23:39 Balancing Work And Family Life 1:26:42 When Family Changes Priorities 1:28:26 What Does Enough Mean? 1:30:24 Balancing Happiness and Anxiety 1:32:35 Contrarian Views on AI 1:34:04 Changing Minds Through Debate 1:37:41 The New Default Career Path 1:39:07 Crypto’s Incentive Problem 1:42:07 Prediction for the Next 12 Months 1:43:30 Concluding Remarks

About to make "I take red eye flights" my entire personality.

I guessed Wordle in two tries today I feel unstoppable.

Robinhood chose violence today (aka a hyphen) - but maybe this is the way???