Crypto, Deep Macro, Niche Investing, NFTs since 2017 @themetablazers @underground

Joined February 2021
So almost the exact local bottom? 🧐
This contrarian take has aged very very well on $MU I closed my hedge today up 60% since just before the last earnings. I switched to a long position on $MU at the close. Sentiment is as bad as I remember the past two years, so I could be too early here, but I really like the risk/reward.
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HawkChain retweeted
KeyPoint! Making a move like this wouldn't just hurt US AI competitiveness, it would negatively impact every US company in every industry - because they would be forced to pay prices for AI that are drastically above market. It would hurt US competitiveness in every field!
The leading AI has already forked into two options. A: Closed source American that costs $26-56 per 1MM tokens. B: Open weight Chinese that costs $0.50-1 per 1MM tokens. If you force American companies to spend 50-100x more than their competitors abroad here is what will happen: 1. American companies spending 50-100x will at some point become financially impaired and the stock market will crater. This is the equivalent of the US Government saying we can only buy oil at $800/barrel even when the free market sells the same oil for $80/barrel. 2. In the short term, the revenues of the Closed American Labs may remain hi. But then their revenue will also crater because their customers in the US will be impaired and their customers abroad will have already flipped to cheaper solutions. This would be a terribly self-defeating form of intervention if it were to happen.
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HawkChain retweeted
The broader point is that AI capability appears to be commoditizing much faster than most expected. The scarce resource is still infrastructure: • HBM • packaging • power • networking • data centers That’s exactly what we’re tracking at Tessara. tessara.tech
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HawkChain retweeted
Kimi K3 may be an important inflection point for AI. Potentially negative for Anthropic and OpenAI while being net positive for essentially every other company in the world. I mean that very literally. Although the real “Sputnik moment” would be an open-source frontier model that was also token efficient unlike Kimi K3 which is 50-70% more expensive to run than GPT 5.6 per Artificial Analysis. Rationale:   A world where there are only 2-3 dominant frontier labs with 90% inference margins is net negative for every other layer while being awesome for those 2-3 labs. Those labs would become monopsonies for power, data centers, semiconductors and hyperscalers and would obviously vertically integrate over time into all those layers while also completely subsuming the application/software layers.    Anything that lowers margins and increases competition at the model layer is good for every other AI layer: power, semiconductors, hyperscalers, neoclouds and yes even software.   This is why Jensen is so supportive of open-source. An open-source model requires the *exact* same amount of compute to run as a closed frontier model of similar size and architecture. Kimi K3 is roughly the same price as GPT 5.6 Terra on a per token basis, which actually suggests that it is less computationally efficient as I am sure that GPT 5.6 is priced to a higher margin than K3. And given that K3 is a token wastrel, i.e. token inefficient, it is significantly more expensive per task than GPT 5.6 and Grok 4.5, which are much more token efficient. Cost per token and token efficiency (i.e. intelligence density per token) are the drivers of intelligence per unit of cost. The winning AI companies will be those that offer the most intelligence per $ over time.   Lower margin % at the model layer = more margin $ at every part of the infrastructure layer and is a godsend for software. This can happen either through open-source models like K3 at the frontier *or* having a vertically integrated model company like Meta, SpaceX or Google at the frontier. Both outcomes result in a lower margin % at the model layer as vertically integrated model companies don’t really care where the margin $ come from. This is why it was so painful for OpenAI and Anthropic when Google was right there with them from a model competitiveness perspective and why Grok 4.5 and Muse 1.1 were just as important as Kimi K3. 
The reason Kimi K3 is only *potentially* negative for Anthropic and OpenAI is 1) the @ericvishria point that the Claude and ChatGPT products and harnesses may be more important than their models today and 2) the hypothesis that they have much more advanced model checkpoints internally that are already being used for RSI. In the latter scenario, reaching RSI even a few months ahead of other labs might be enough to cement a permanent lead. Time will tell on both points. And likely fairly quickly. Caveat would be that since Kimi K3 is not token efficient and thereby actually more expensive than ChatGPT 5.6, we may need to see a more token efficient open-source model at the frontier or see Grok 5/Composer 4/Muse 2 at multiple points on the Pareto frontier for this potential risk to Anthropic and OpenAI to play out. And I am sure they will both vertically integrate as quickly as possible while continuing the product/harness strength they have shown over the last 8 months.
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This contrarian take has aged very very well on $MU I closed my hedge today up 60% since just before the last earnings. I switched to a long position on $MU at the close. Sentiment is as bad as I remember the past two years, so I could be too early here, but I really like the risk/reward.
I was pretty alone in this take at the time. No one else was calling for a massive $MU beat on earnings and an up to 30% decline in stock price over the next two weeks of trading sessions. Yet that’s what we had last quarter. And seems to be again for this quarter…
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I appreciate @MetaMask for reminding me of how expensive ETH was over the years. 😂
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Guess this makes me “OG”
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HawkChain retweeted
⚔️ The Gorgez Vault has reopened with 30 prizes A new @DedGorgez Vault Activation begins today 💀 Sweep 6 + Sacrifice 6 Receive 2 Unrevealed Gorgez + 30 raffle tickets Or enter through The Gorgez Sweep and earn tickets while building your collection 🏆 Featuring a Rare Azuki Elemental as our top prize alongside Unrevealed Gorgez and a huge lineup of NFTs Target: 200 sweeps The hunt begins... 🫡💀 Full details in discord
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RT @DedGorgez: Let's step away from the lore for a moment... ...and appreciate these hand-drawn 1/1 masterpieces Masterpieces in their ow…
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I was pretty alone in this take at the time. No one else was calling for a massive $MU beat on earnings and an up to 30% decline in stock price over the next two weeks of trading sessions. Yet that’s what we had last quarter. And seems to be again for this quarter…
Replying to @jukan05
I expect a surprise beat. Last quarter was legitimately one of the best earnings I’ve ever seen. However.. $MU last quarter: revenue $23.9B vs ~$20B, EPS $12.20 vs ~$9, then guided Q3 to $33.5B and 81% gross margins. Textbook beat-and-raise Stock fell ~30% in 8 sessions. So taking a longer view for my position than just one earnings.
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HawkChain retweeted
It's safe to say the @DedGorgez 1/1s have been a hit with NFT collectors In just two months we've seen: 💀 3.5 ETH ATH sale 💀 8 sales above 2 ETH 💀 26 sales above 1 ETH I don't share this to boast... I believe it's a signal worth paying attention to There are still 8 hidden 1/1s waiting to be discovered, with fewer than 800 unrevealed Gorgez remaining ...and this is only the first chapter of the story of Los Gorge💀
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Trainium is the 2026 version of last year’s TPU moment.
Amazon AWS has raised its ASIC server shipment forecast 20%-30% for the 3rd quarter - versus its original plans - signaling optimism for its Trainium3 chips, media report, citing unnamed supply chain sources, who are looking to see if AWS accelerates the launch of Trainium4 due to the strong momentum. Trainium3-based server motherboards and other components began shipping in May, with Rack-level mass production set for July. $AMZN $TSM #Wiwynn #AIserver #semiconductors #Trainium3 digitimes.com.tw/tech/dt/n/s…
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I’ve added four plots to @DotLandApp after following @Peylay in. I posted four of my DDG near the other DDG. Like this concept a lot.
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Yet another 1/1 @DedGorgez has sold, this time for 1.1 eth. “Aya” of House Chaos of DDG has sold. I’m noticing a trend 👀 Congrats @Gordified on the new addition!
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I’ve added “Motley” of House Order of @DedGorgez to my DDG collection. This creates balance to my other 1/1 “Storm” in House Chaos.
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Happy Independence Day!
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Two weeks ago, after looking through the crystal ball. $MU Let the bears have their day, this too will be a buying opportunity.
Replying to @jukan05
I expect a surprise beat. Last quarter was legitimately one of the best earnings I’ve ever seen. However.. $MU last quarter: revenue $23.9B vs ~$20B, EPS $12.20 vs ~$9, then guided Q3 to $33.5B and 81% gross margins. Textbook beat-and-raise Stock fell ~30% in 8 sessions. So taking a longer view for my position than just one earnings.
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1/ Most people are misreading where we are in the market of intelligence. Intelligence has diminishing returns per task. Most work has a sufficiency threshold. Once a model clears it, extra intelligence adds minimal value for that specific task. The frontier dominates right now not because the bar is high, but because it’s the first thing to clear the bar at all. We have only just cleared the sufficiency bar for most enterprise task. So what’s the investment impact on $MU $SPCX $NVDA $GOOG @AnthropicAI @OpenAI and AI at larger? 🧵 👇
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5/ Is this bearish the model providers? If you have sole access to the smartest mind(s) to ever exists, is that bearish? No. It is just a change in the business model. Frontier models from @AnthropicAI and @OpenAI will monetize innovations and control entire industries. Hyperscalers like $SPCX $GOOG $MSFT and $AMZN serve an almost endless demand for cloud and compute. This is very bullish AI, but is not fully being viewed correctly in the current focus and debates.
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Timely:
Introducing Claude Science, a new app designed with every stage of research in mind. Artifacts traced to their code, environments managed on demand, and 60+ optional scientific databases that you can connect. Available now in beta.
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