Balaji
@balajis
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Immutable money, infinite frontier, eternal life. #Bitcoin
The Network State
Joined November 2013
This is a fall of the Berlin Wall moment. An end of the USSR moment. A far left leader admits he’s been lying. That it was all by design. That it was happening. And that it’s bad that it is.
Holy. Shit. UK Prime Minister Keir Starmer just admitted that Western leaders have been running an “open borders experiment”…. "This happened by design, not accident. Immigration policies were reformed deliberately. It has been a failure. They pretended it wasn’t happening.”
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The net result of FTX is that billions of dollars was stolen from crypto investors to give to Democrat-aligned politicians, nonprofits, and journalists. This is why there may be no prosecution.
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Hardware is hard. That’s why Elon is by far the greatest founder of all time. Remember — countless startups die just while trying to put stationary beige boxes on desktops. Very smart people get crushed by supply chain disruptions, or China tariffs, or lockdowns, or shipping.
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I cofounded a clinical genomics company that sold for $375M. You work at Buzzfeed.
Not to say that a co charges money to open emails is wrong. But people like him handwave and throw out whataboutisms suggesting they’ve been blocked from affecting some great societal change when all they’ve been doing is mining crypto and tweeting.
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Grok is the best integrated.ChatGPT is the fastest.Claude is the smartest.Perplexity is best for web search.Gemini handles the largest files.
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A memecoin is a zero-sum* lottery. There is no wealth creation. Every buy order is simply matched by a sell order. And after an initial spike, the price eventually crashes and the last buyers lose everything. * It’s actually negative sum if the platform takes a cut.
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Satya wins. Reflexes of a startup CEO. Resources of a trillion dollar company. Pulls this together in 48 hours from a cold start. Gets it signed and over the line before markets open.
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France has 67.4M people. India has 1.38B people. But France has a permanent seat on the UN Security Council, and India does not. So why do people claim the world order is "democratic"?.
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How likely are you to be married by 30?. Boomers: ~90%.Zoomers: ~30%. This is civilizational.
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To be a Democrat one must believe Kamala is smart and Elon is dumb.
EXCLUSIVE: Kamala Harris plagiarized at least a dozen sections of her criminal-justice book, Smart on Crime, according to a new investigation. The current vice president even lifted material from Wikipedia. We have the receipts. 🧵.
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I don't think people realize that there is no normal to go back to anymore.
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If the logic is that women must be 50% of boards, why shouldn’t Republicans also be 50% of boards?. They sure are an underrepresented minority in tech.
One of the biggest tasks ahead for OpenAI is building a new board - one that includes women:. The names of several women were floated including @laurenepowell and @marissamayer but deemed too close to @sama. @CondoleezzaRice also considered but dismissed. We’re told the new.
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Many founders aren’t hiring from Harvard. They’re hiring from Twitter.
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If Republicans were smart, they would propose a bill to pay down student loans by seizing college endowments. The newly debt-free would be able to afford families, turning them Republican. And universities would pay for the debt they saddled students with, not taxpayers.
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FRANCE IS FOR CRIME, AGAINST FREEDOM. François asks a good question. My answer is: France doesn't care about crime, they care about control. 1) First, Macron hasn't wiped out crime among 70M Frenchmen with all the power of the French State. So it's completely unreasonable to
Do you think "law enforcement" should not have eavesdropping capabilities, or should not use the judicial system to get them? @balajis.
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The state has far more money than anyone. But they are behind SpaceX, because tech isn’t capital-limited, it’s competence-limited. After all, who knows more about rocket science — politicians or Musk?.
Sen. Bernie Sanders: "It is not acceptable that the two wealthiest people in this country, Mr. Musk and Mr. Bezos, take control of our space efforts to return to the Moon, [. ]This is not something for two billionaires to be directing."
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Vox is sending about 0 million masks to the front lines of the coronavirus crisis. That sounds terrible until you remember that they helped cause the crisis by publishing just-the-flu misinformation, and still haven’t either apologized or retracted. Then it sounds more terrible.
Silicon Valley is sending about 9 million masks to the front lines of the coronavirus crisis. That sounds great until you dig into the numbers — and until you think about whether we should be this reliant on corporate philanthropy.
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The BitSignal. How do you ring the fire alarm on the internet?.How do you show it’s not a false alarm?.I am putting up the BitSignal. $1M in BTC to alert us to the stealth financial crisis. $1000 per tweet, for the best 1000. Reply with your charts, graphs, stats, memes!.Bring
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CHEVRON DOMINANCE. Technology is about to accelerate. Because Chevron deference is over. And regulators can't just make up laws anymore. So, countless new startups just became feasible. This is often spoken about in the abstract, so let's do three examples and two visuals. THREE
BREAKING: In a major blow to the unelected administrative state, the Supreme Court has overruled the Chevron doctrine, which required courts to defer to the legal interpretations of unelected bureaucrats. “Chevron is overruled.”
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China builds a train station in 9 hours. California can’t build a bus shelter with 8 departments.
Typical bus shelters often cost $50k or more and require coordination among 8 departments. La Sombrita (in its most expensive, prototype form) costs approximately 15% of the price of a typical bus shelter and can be installed in 30 minutes or less.
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Going viral. What if this coronavirus is the pandemic that public health people have been warning about for years?. It would accelerate many pre-existing trends. - border closures.- nationalism.- social isolation.- preppers.- remote work.- face masks.- distrust in governments.
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I will take that bet. You buy 1 BTC. I will send $1M USD. This is ~40:1 odds as 1 BTC is worth ~$26k. The term is 90 days. All we need is a mutually agreed custodian who will still be there to settle this in the event of digital dollar devaluation. If someone knows how to do this
I'll bet anyone $1 million dollars that the US does not enter hyperinflation.
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Like everything else in Sulzberger’s paper, the NYT bestseller list is fake. They were forced to admit in court that it’s not a ranked list. It’s actually “editorial content” and they can exclude books they don’t like.
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Telegram founder Pavel Durov arrested in France. His “crime” appears to be enabling free speech online.
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They want you fired for a tweet, while they clap for a fraud.
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1942: Build up Russia to fight Germany.1972: Build up China to fight Russia.2022: Build up India to fight China.
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Low trust society. Tens of thousands of dollars in damage for tens of dollars in scrap metal profit. Everything becomes more expensive when you abolish the police.
San Francisco Bay Area for the win, people cutting off Tesla supercharger cables to sell the copper.
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Bitcoin has passed all-time highs in 30+ countries, including China and India.
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For those of us who are old enough to remember it, I’m glad we had the 90s. It was an idyllic time.
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This is the single best long run measure of food inflation. And it’s gone vertical.
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China has a 4000 year old civilization. They had a terrible 20th century thanks to Maoism, but they really are capable. You don’t get to global #1 in manufacturing by accident. Even if (especially if!) you consider them a geopolitical rival, their engineers deserve respect.
So much cope about DeepSeek. Not only did they release a great model. they also released a breakthrough training method (R1 Zero) that’s already reproducing. I doubt they lied about training costs, but even if they did they’re still awesome for this great gift to the world.
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The UAE is closely following Durov's case. France may not be able to hold him prisoner for long.
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Tech guys don't use Google search anymore. It's not just censored. It just sucks. Perplexity is better. And you can set it as default. Here's how to fix your search in thirty seconds:
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Here is what China built.
The Fresno River Viaduct in Madera County is one of the first completed high-speed rail structures. At nearly 1,600 feet long, high-speed trains will travel over the riverbed and will run parallel with the BNSF Railroad. #BuildHSR
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My mental model is that if you don’t win tech you don’t win. Because tech isn’t just electric cars and rocket ships, life extension and artificial intelligence. Tech is the money (crypto), the media (social), and especially the military (drones). China understands this.
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Bitcoin is already the global reserve asset. Anyone can buy or sell virtually any amount of BTC at any time in any country on any device for a known price without any necessary intermediary. Nothing else is like this.
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The folks who say billionaires should not exist are working hard on making everyone trillionaires.
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Funny you mention that!. Because Prafulla Dhariwal is an International Math Olympiad and International Physics Olympiad gold medalist with a 5.0 GPA from MIT. And he led the development of GPT-4o.
@balajis How did they achieve this without millions of Indians on H1-B visas?!.
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Just as in 2008, the bankers lied. This time, the central bankers, the banks, and the bank regulators have lied to all dollar holders and depositors. This isn't your typical fractional reserve situation. The problem is that there isn't enough in the
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I've been writing a book on how to start a new country. It's finally coming out. You can preorder it now. It arrives on July 4.
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Bangladesh was a stable country. But it didn’t want to give up a military base or take sides on Ukraine. So in retaliation, psychopathic Democrats backed a coup. Then the White House lied about it, just like they lied about Hunter’s pardon. Now it’s going fundamentalist.
Today my timeline is full of pundits advising the Trump Administration to back India's ongoing attempts to reverse #Bangladesh's July Revolution. What these analysts ignore is that India's misguided policy of providing unquestioned support to a brutal dictator helped lead to.
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THE FIRST FAIR FIGHT.Remember the "emerald mines"?.Or the "pee tape"?.Or "I can see Russia from my house"?.Or the couch lie from just yesterday?. For literally generations, Democrats controlled institutions like Hollywood and the New York Times. They could make up whatever fake.
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This is the China graph. It’s nothing, and then it’s everything.
One detail I'm realizing I didn't make clear:. The key thing this fact pattern reveals is: higher TRAJECTORY due to structural factors. This is the pattern I've observed over 20+ years in technology, watching incumbents get overtaken by disruptors across multiple verticals. The.
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Privacy won. Smart contracts won. Tornado Cash won. And OFAC lost. Here’s the decision.
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A mistake people made early on was thinking of the internet as a new channel: radio, TV, and internet. In reality it was *all* channels: internet radio, internet TV…. Same with crypto. It’s not an “asset class”. It will be all asset classes. Cryptocurrencies, crypto-equities….
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AMERICA AND BITCOIN.A historical speech. Here is Donald Trump's full speech at the Bitcoin Conference with timestamps and transcript. TIMESTAMPS.1:36 - Shoutouts to David Bailey, Winklevosses, Michael Saylor, Cathie Wood, Ron Paul and Rand Paul, Vivek, and the victims of the
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Sam Bankman-Fried was a Democrat. And not just any Democrat. The #2 donor after Soros. A vocal proponent of the regulatory state. Also a fraud — like the regulatory state. Which he legally bribed to target others but not him. That isn’t libertarianism. It’s the exact opposite.
@balajis Your libertarian cult is responsible for this mess. You should take some responsibility for what you have wrought.
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Zuck should pull out of this conference. He has an audience of billions. He doesn't need to give an audience to a guy who stole billions.
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No ID, no democracy. Because anyone or anything can vote, multiple times, without any verification. This is what’s called a Sybil attack in computer science.
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Can’t wait for the billion dollar media corporation owned by millionaires to endorse the millionaire who tells us how bad millionaires, billionaires, and corporations are.
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The Soviets and Nazis were allied at the start of World War 2 and invaded Poland together.
Russian actor Vasily Lanovoy: "In Europe, journalists asked me: 'Why do you celebrate Victory Day like that? We have already forgotten it. I asked them, "How many days did your countries resist Hitler?" They are silent. Then I continued: "Poland was
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I admire Bezos. He is a jacked libertarian genius founder. Truly one of the greatest of all time. And he has the power to do something great. As great as Amazon, in fact. Because he’s not just going direct. He directly gets how bad the media is. And he directly owns the WaPo.
Furthermore, this whole thing is completely false — none of this is happening. The old adage “don’t believe everything you read” is even more true today than it ever has been. Now lies can get ALL the way around the world before the truth can get its pants on. So be careful out.
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From abolish the police to militarize the police. From denying crime is up to executing a military crackdown. From saying you don’t need a gun to sending in men with long guns. It’s always the same pattern. First they unleashed the anarchy. And now comes the tyranny.
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Gautam Adani is an Indian magnate. He’s built ports, roads — everything. One of the most prominent men in India. Now comes the Democrat DOJ. Indicting an Indian doing business in India. For some ostensible violation of US law!.Why? Adani is perceived as center right. And.
This is not about Adani. This is about sending a message to Indian conglomerates and India not to get too big for their shoes by a vindictive and frustrated Biden administration.
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India’s new parliament was built in under 2.5 years and cost less than $125M. An ancient civilization is ascending once again, returning to its rightful place on the world stage. India is back.
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People forget just how completely non-obvious the entire digital revolution was every step of the way. 1995: WWW will fail.2002: Google will fail.2007: iPhone will fail.2013: Facebook will fail
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Everyone wants a piece of the reward, no one wants a piece of the risk.
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This is the week where decades happened. Crypto is now legal. AI is now free. The entire blue empire is being shut down by executive order. And after the postwar order, we enter the post-Internet order.
The last week has totally reset my conception of what's possible, in two wholly different dimensions. 🤯.
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The flag of ETH is raised over Wall Street. And the SEC surrenders to a more powerful regulator. Because it is Ethereum that now provides standardized market access to all Internet participants. The network defeats the state.
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Introducing the Network State Podcast. The first episode features me and @VitalikButerin. We talk about starting new countries, upgrading Ethereum, and improving yourself!
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THE LATIN AMERICAN LEE KUAN YEW. President Bukele's recipe for success is simple: low crime, hard currency, great aesthetics, and top talent. He built his state capacity from scratch, and is now a role model for the ascending world. This is the American President I respect.🫡
We're offering 5,000 free passports (equivalent to $5 billion in our passport program) to highly skilled scientists, engineers, doctors, artists, and philosophers from abroad. This represents less than 0.1% of our population, so granting them full citizen status, including.
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X should implement a feature called "On This Day.". It would rewind the timeline to any given day since Twitter's founding to let you feel the pulse of the moment. A crucial tool for modern historians.
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Can you believe that the Wright brothers went into the air without the go ahead from the FAA or *any* kind of collective decision making? They decided to fly just because they could.
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A possible scenario. Print trillions of dollars.Surprise, inflation. Shut down nuclear energy.Surprise, rolling blackouts. Pay millions to stay home.Surprise, labor shortages. Then, blame corporate greed.Then, price controls.Then, real shortages.Then, seizures.Then, TBD.
Holy shit these people don’t understand economics or the negative externalities produced by attempted top down control of whole economies. Beating this ignorant drum is very dangerous.
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PRINT TRILLIONS WHILE HIKING RATES. The Fed now has “high rates” like SF has “low crime rates”. It says it does, but it doesn’t. Because you have to be pretty naive to think today’s rate hike means the Fed is still “fighting inflation”. You can see it in the graphs — the
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The banking system broke in 2023. They've just been hiding it in plain sight. And it's already far beyond 2008.
The GFC bailout looks like just a blip on the radar vs what the Fed is doing today to support the banks with liquidity via loans/facilities. And we wonder why the market is up. This chart blew me away.
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DEMOCRATS ARE DESTROYING DEMOCRACY. The Democrat primary ended on June 8[1]. So why wasn’t Biden’s age openly contested?. It’s simple: Democrats are intentionally destroying democracy. They all knew Biden was infirm. But they waited till after the primary to acknowledge someone
This was planned. The Dems are instantly throwing Biden under the bus on every channel. This is not normal. If you didn't believe there was election interference before, you should now.
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This is all much bigger than US politics. It is a matter of national security for India, Israel, and every other country to maintain a sovereign communications channel for their leaders to reach their people directly. The world cannot be ruled by American corporations.
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Rishi is right. Inflation is taxation. It is how citizens pay for the government’s money printing.
Rishi Sunak, "The best taxt cut that I can deliver for the British people is to halve inflation.". Laura Kuenssberg, "Inflation is not a tax". Rishi Sunak, "Inflation is a tax"
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THE NETWORK SCHOOL. We got an island. That’s right. Through the power of Bitcoin, we now have a beautiful island near Singapore where we’re building the Network School. We’re starting with a 90-day popup that runs from Sep 23 to Dec 23, right after the Network State Conference.
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ECONOMICS > POLITICS.No election can pay off America's $175T in debt. Only the printing press can. Because as Elon, Dalio, and others realize. the Western world is headed for a sovereign debt crisis far worse than 2008. Just like they’ve been lying about Biden’s senility,
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HISTORY IS RUNNING IN REVERSE. The Bitcoin ETF is the spiritual reversal of Executive Order 6102. Back in 1935, they seized the gold. But now, digital gold is back. Ninety years ago, FDR and his fellow travelers rode the 20th century arc of centralization. The chokepoints of
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For everyone who thinks the Instagram deal was a no-brainer:. - Instagram raised at $500M the day before Zuck offered $1B.- $1B was 25% of FB’s $4B cash on hand.- It was weeks before the FB IPO.- The board wasn’t consulted.- Instagram had no revenue. This was not an easy call!.
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The basic issue is that either you are running a global empire with 750+ military bases worldwide, the world reserve currency, the headquarters of the UN in New York, and so on — in which case you really do need to be global #1 on everything — or you are just running a country.
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This is what Chinese cities look like. We can deny that they are ahead. Or we can build startup cities to get back in the game.
Non-Consensus View:. The visit of China’s premier js a symbolic bending of the knee. China is capitulating. @balajis is not reading this correctly . Why? China is hurting. - China’s currency is under pressure as capital leaves at the fastest rate in 7 years. - FDI is down.
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500+ OpenAI employees will quit and join Microsoft unless the board resigns and reinstates Sam and Greg.
Wow. Does this mean the whole thing gets reversed, like a fire drill where everyone marches back into the building?. Suppose it’s theoretically possible as only ~72 hours of breakage has happened. Would need to learn if other board members also agree.
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