DRS/self-custody, music production, Ubiquiti/UniFi, Tesla/EVs/solar, egalitarian future stuff
Joined April 2012
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Just finished merging BogGuyver’s Tinkla (OpenPilot) Tesla AP1 code into a custom fork of FrogPilot. I have the best self-driving AP1/MobileEye vehicle on the planet right now. SunnyPilot AP1 fork up next
Atlas Chaps retweeted
There are no “left over” shares.
All shares are held self custody (by Cede & Co or the DRS’d investor). Everything else is an entitlement (not a share).
When you exchange an entitlement for a share you no longer own the entitlement, you own a share, and Cede owns one less share.
Hypothetically if Cede no longer owned any shares because investors had DRS’d them all, the “overerage” displayed in brokerage accounts are entitlements. They are not shares. They are not “real” or “fake” shares, they’re all entitlements.
I believe a lot of the confusion arises out of brokers displaying the word “share” in your account. I believe they should not be allowed to label your security something that it is not (which is exactly what they do). They falsely label your entitlements with the word “shares”.
A trustworthy totality: every exchange settles, every participant remains included, and value can breathe through time without fear.
Atlas Chaps retweeted
Does @RobinhoodApp sell shares or entitlements? Let’s start there.
Seems about right. Ready for “trade is the settlement”
==>>Brokers took an estimated $4.5 Trillion from buyers but didn't give them any shares!!
NSCC "open positions for which a trade guaranty applied" stood at $134 Billion on Dec 31 2025. This value is post-netting. That means only about 3% of the value traded is included in this Note to the annual financial statement.
==> $4.5 Trillion would earn AT LEAST $173.86 Billion at risk-free overnight rates.
Now you know why they do it and how they afford to pay for politicians that keep the rules stacked in their favor. 🪄
⚠️NC-17 Stand back: she is going to do science! 🧙♂️
0.03X =134
where X = value traded.
X/0.03 = 134/0.03 = 4,466.6
Atlas Chaps retweeted
🚨 $GME + $EBAY 13F — CITADEL ADVISORS
Citadel reported $22.5M principal of GME’s 0% 2030 convertible notes and retained 13.29M SH of GME call exposure, while its reported GME puts fell 31.35%, warrants fell 91.60%, and eBay calls more than doubled.
$EBAY COMMON
Q1 ’26 — 2,440,865 SH — $222.17M
Q2 ’26 — 1,021,738 SH — $114.18M
🔻 −1,419,127 SH (−58.14%)
$EBAY CALL
Q1 ’26 — 372,400 SH — $33.90M
Q2 ’26 — 792,700 SH — $88.58M
🔥 +420,300 SH (+112.86%)
$EBAY PUT
Q1 ’26 — 409,800 SH — $37.30M
Q2 ’26 — 310,100 SH — $34.65M
🔻 −99,700 SH (−24.33%)
$GME COMMON
Q1 ’26 — 68,959 SH — $1.59M
Q2' 26 — None
$GME CALL
Q1 ’26 — 14,191,300 SH — $326.97M
Q2 ’26 — 13,288,900 SH — $293.42M
🔻 −902,400 SH (−6.36%)
$GME PUT
Q1 ’26 — 5,378,700 SH — $123.93M
Q2 ’26 — 3,692,500 SH — $81.53M
🔻 −1,686,200 SH (−31.35%)
$GME WARRANT
Q1 ’26 — 195,424 SH — $754,356
Q2 ’26 — 16,416 SH — $45,801
🔻 −179,008 SH (−91.60%)
$GME CONVERTIBLE NOTE
Q2 ’26 — 22,500,000 PRN — $22.97M
“Stock Tokens provide economic exposure to underlying securities but do not grant investors any legal or beneficial rights in, or against the issuer of, those underlying securities”
Or create a system of actual transparent direct ownership of public companies…
TITS+ MaaS 🧱⛓️
Anyone curious to know when Vlad is lying..?
In addition to Vlad's Adam's Apple bouncing up and down real fast, choking off the oxygen to his brain, you just have to read Robinhood's fine print.
But first...
From Vlad's fable quote posted below:
"Stock Tokens as a core primitive—giving people in over 120 countries economic exposure to 190+ US stocks, backed 1:1 by underlying shares."
"“The World Is Flat,” we launched the mainnet of Robinhood Chain, the first chain purpose-built for real-world assets. It has since become the fastest EVM chain to reach 100 million transactions, with Stock Tokens as a core primitive—giving people in over 120 countries economic exposure to 190+ US stocks, backed 1:1 by underlying shares."
Now to the fine print:
From Vlad's "The World is Flat" video at the link below, which was Vlad's presentation on June 30th, 2026 in London, apparently on his way home from Cannes, in the South of France.
"Classic Stock Tokens are derivative contracts between you and RHEU. They are priced at the prices
of the underlying securities without granting rights to them."
"Stock Tokens are tokenised debt securities issued by Robinhood Assets (Jersey) Limited ("RHJ").
Stock Tokens provide economic exposure to underlying securities but do not grant investors any legal or beneficial rights in, or against the issuer of, those underlying securities."
Hey Captain Ahab Vlad... No Quarter, and FU.
youtube.com/live/BcMjT07BqxU…
Atlas Chaps retweeted
The SEC says they enforce rulemaking with the authority given to them by Congress.
I say: ⚠️ If they need more authority to fix this sh**, take the 10-minute walk to the Capitol and get it done!
The SEC says it "has the role to assess if FINRA followed its own rules"...RULES WHICH FINRA WROTE!!
I say: ⚠️ If the current laws can't fix it, get to work making REAL change by fixing the laws.
Start with 15 U.S. Code § 78q-1(b)(5)(C) “A registered clearing agency [may] SHALL summarily suspend and close the accounts of a participant who … (ii) is in default of any delivery of funds or securities to the clearing agency,…”.
How hard would it be to slip a 1-word change as an amendment into the next bill? Eliminate the market maker exemption on failures to deliver (FTDs) and force NSCC to eject banks and brokers who fail to deliver sold securities to household investors. The first time that happens, settlement fails will STOP.
Clinging to the rules of this dysfunctional financial system is the definition of a Regulatory Crisis!
If CUSIP changes (as is happening with BBBYWS):
– On the effective date, DTC debits every Participant’s position in the old CUSIP (075896159).
– DTC simultaneously credits the exact same quantity to the new CUSIP (690370127) on a 1:1 basis.
– The old CUSIP is inactivated; the new one becomes the active, DTC-eligible security.
• Under CUSIP Permanence rules (implemented 2021–2022), 𝗶𝗳 𝘁𝗵𝗲 𝗖𝗨𝗦𝗜𝗣 𝗵𝗮𝗱 𝘀𝘁𝗮𝘆𝗲𝗱 𝘁𝗵𝗲 𝘀𝗮𝗺𝗲, 𝗗𝗧𝗖 𝘄𝗼𝘂𝗹𝗱 𝗼𝗻𝗹𝘆 𝘂𝗽𝗱𝗮𝘁𝗲 𝘁𝗵𝗲 𝘀𝗲𝗰𝘂𝗿𝗶𝘁𝘆 𝗱𝗲𝘀𝗰𝗿𝗶𝗽𝘁𝗶𝗼𝗻, 𝗻𝗮𝗺𝗲, 𝗮𝗻𝗱 𝘁𝗶𝗰𝗸𝗲𝗿 𝗶𝗻 𝗶𝘁𝘀 𝘀𝘆𝘀𝘁𝗲𝗺𝘀 𝘄𝗶𝘁𝗵𝗼𝘂𝘁 𝗺𝗼𝘃𝗶𝗻𝗴 𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻𝘀. 𝗕𝗲𝗰𝗮𝘂𝘀𝗲 𝘁𝗵𝗲 𝘄𝗮𝗿𝗿𝗮𝗻𝘁𝘀 𝗮𝗿𝗲 𝗰𝗵𝗮𝗻𝗴𝗶𝗻𝗴 𝗖𝗨𝗦𝗜𝗣𝘀, 𝘁𝗵𝗲 𝗳𝘂𝗹𝗹 𝗱𝗲𝗯𝗶𝘁/𝗰𝗿𝗲𝗱𝗶𝘁 𝗼𝗰𝗰𝘂𝗿𝘀.
Atlas Chaps retweeted
comma has logged 380M+ miles driven on openpilot, no subscriptions. Stretching from rural roads like mine to streets in London and Dubai, all hands-free. @comma_ai isn't an SF Bay Area science project anymore, they ship worldwide. Wouldn't drive without mine.
