Mitchell

.@SecScottBessent: “We are seeing a very strong acceleration across all parts of the economy. 2025 was setting the table with the tax bill, with trade policy, with energy policy, with the deregulatory policy. And now, second half of 2026, everything is coming into place. We are seeing a manufacturing renaissance, and we see that both in construction jobs and manufacturing jobs, but all areas of the economy are strong.”

it's time for you to wake up and smell the roses there is no reality in which things continue smooth from here. no, bitcoin obviously isn't/wasn't going to stay put in some $70k - 80k range. this is one of the most volatile eras ever. not just for bitcoin, but for the world. geopolitically, technologically, socially, we're going through rapid and dramatic change, and things aren't about to get simpler. no, cybersecurity isn't going to all get fixed because you can now use ai to generate machine-checked security proofs in lean. even if you figure out how to write secure code and democratize the skill, there will still be vulnerabilities. if not bugs in the implementation, bugs in the specification. bugs in the assumptions, bugs in the verification. cybersecurity will continue to be a verifiable domain, that's not changing, which means machines can self-play in it, meaning they can improve in it like in chess, except its actually worse than in chess because here the rules also keep changing, because technology keeps changing, so the gamefield keeps changing, meaning bugs will continue to be problematic, and especially problematic in irreversible systems (where one mistake means you get fully wiped out forever). it's a hard system to keep stable! lean isn't coming to save you. you'll continue to hear stories about how cybersecurity is about to improve and all the world's bugs will be fixed, because that is a popular narrative that tends to do well on twitter. no one wants to hear the defeatist point of view. but that means that some of you, who aren't able to figure this stuff out on your own, won't hear the truth very often. smart people know this, not everyone agrees about it of course, but the negative point of view isn't going to get promoted on x/twitter. the algorithms that are improving your life are about to learn how to improve themselves. the algorithms that are fucking with your life are about to learn how to improve themselves. the situation now in which technology is about to enter a supersonic self-improving loop (a much more aggressive form than the baseline self-improving loop that we've been riding on since the dawn of time) is extremely bubble prone. the prospect of investing in something *self-improving*? people will leverage themselves to the tits. they will also be scared, flip-flop between being endlessly optimistic to extremely skittish and want security/safety. markets will be volatile. geopolitics will be volatile. everyone has the ability to react faster now, and there will be much more to react to. no, crypto and bitcoin isn't going to stay non-volatile to that backdrop. the risk asset of risk assets, not even gold stays untroubled during turbulent times. it's going to be volatile. we spent a decade maturing as an industry. yes, we think we are owed some overdue maturity. we've aged through our teenage years and we're supposed to get rid of the acne. sorry, we're aging backwards now, you're going to get more acne and more bedtime erections, not less. the world isn't fair. what you need to understand and accept is that bitcoin & crypto isn't this solid thing here. it's more of a moonshot thing again. it's a very digital thing in a world where everything digital is getting a shakedown. you're almost 40 years old and your digital profession can be done by free open source software made in china run with a handcrank. your wife isn't going to let you gamble with your entire financial future in magical coins when you can't even tell her what your career prospects look like anymore. your beard is patchy. bitcoin & crypto can still do well in this environment, because when technology, markets and geopolitics become ultra-volatile in unison, you're bound to also get weird market dislocations. you have arms races, you have bubbles popping, you might get lots of money printing. most things that can happen will happen. but you aren't, as an industry, going to be a universal safe haven against this. no one really feels safe with their crypto assets these days. you got a hardware wallet? cool. that doesn't exactly feel like the safest of all places anymore. you got your funds on an exchange? cool. doesn't feel great either, does it? oh, but you're not impacted because you choose to hold your exposure through etps/etfs? well, if that's what you have to resolve to, that's not great either. if you can't be secure with your crypto, if you can't feel safe with it, even though you're a freaking nerd in this industry, how does that bode for the industry at large? much of the fuel that has driven e.g. defi to where it is today is because the risk was seen as tolerable. during 2020-2022 i knew a lot of people who felt okay with locking in hundreds of thousands of dollars in stablecoins in yield protocols. i don't know people who enjoy doing that today. people are tired of being bug bounties for north korea. they honestly prefer reversible systems for their life earnings. this doesn't mean it is over for bitcoin & crypto, but it means you're going to have to accept that you may have to think about it differently. it is a diversified bet in your overall portfolio. it is a part of your portfolio. it can't be your entire portfolio. if this sounds so bearish it sounds like the bottom signal to fully re-enter the market, sure. i'd love to become the pico-bottom perma-joke of our industry. i'm not saying for you to grow out of crypto, i'm saying for you to think of this as the volatile bet it is, the bet that macroeconomic/geopolitic turbulence/dislocations & fiat printing will outrank the fact that we're back in our teenage years again. embrace that it will be volatile. what's happening in the markets now is normal.

Sean Duffy: "We're going to have a great end of the year Christmas present for the American people, where they are gonna get a big sum of money that comes to the FAA"

Hunger Games in real life is out now

Tariffs went up and companies raised prices. Then $128 billion in tariffs were refunded to companies. But consumers didn't get any refund and many of those companies raised prices even more. Funny how that works.

RESET ALL BOARDS TO BE RANKED BY SHARES HELD. NO MORE DEI AND VIRTUE SIGNALING BOARDS NO MORE "EXPERTS" ONLY WARRIORS WITH SKIN IN THE GAME

TSMC has been hacked.

The Houses of Altman and Amodei have forged an alliance, and they are striking during the enemy's moment of weakness. OpenAI is joining Anthropic in backing the push for bipartisan chip export controls, and they are aiming to get legislation passed before the end of the year.

Sad about Jensen. Shakespearean. But as de Gaulle said, “The graveyards are filled with indispensable men.”

Lord, this is getting complicated

Bernie is the meme

"As lifespans increase, people have to prepare, mentally and financially, to work well into their 70s and 80s," per WSJ

Alex Karp now says that Palantir is progressive, he’s always been a Democrat, Trump went too far on immigration and his primary commitment is to economic justice. LMAOOOOOO

JUST IN: Crypto wallet company Ledger CEO says "everybody will be hacked at some point."

US OCTOBER CPI REPORT TO OMIT ANNUAL INFLATION FIGURES The Bureau of Labor Statistics will exclude year-over-year headline and core CPI figures from Tuesday's October inflation report. Missing October 2025 price data from last year's government shutdown prevents reliable annual comparisons. Annual real earnings growth will also be unavailable. Monthly inflation figures will still be released. Economists expect headline CPI to rise 0.3% MoM and core CPI to increase 0.2% MoM.

New York Times: An investigation into Megaspeed, a Singapore company that was buying advanced Nvidia A.I. chips, was transferred to the Justice Department after a top Nvidia executive reached out to Commerce Department officials.