Markets Research @shoalresearch | @ucberkeley Economics
Joined June 2023
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Dom retweeted
As agents continue to drive economic value, new opportunities to build moats in the payment stack emerge. In our latest piece, we dive into how @circle is positioning itself in the agentic economy.
Dom retweeted
Agents Will Run Their Own Businesses: Inside Laso, agent payment cards, and Agent Commerce
Shoal Signal with @huntermmonk, Founder at @lasofinance, hosted by @zaddycoin
We cover how Laso gives agents their own one-time-use cards to spend anywhere with no KYC, why self-sovereign spending is the through-line, where x402, @PayWithLocus and Policy stack fit, why the real prize is agents starting their own businesses rather than shopping for you, and the AGI risk that could make frictionless agent payments unnecessary.
0:00 Intro and what Laso builds
2:35 Why one-time-use cards work
3:58 Self-sovereign spending and privacy
5:43 What agents actually buy
7:35 Agents running their own businesses
8:26 How an agent gets a card
11:49 x402, Locus, and Policy
15:43 Reading radio ads on TV
17:47 Markets two through twenty
24:09 Rethinking agent to agent commerce
29:50 What people get wrong
36:52 The AGI risk to Laso
43:48 Defensibility and the risks
45:40 The agent bank account coming
47:27 Betting on agent entrepreneurship
49:02 Closing alpha
Dom retweeted
SpaceX is financially alchemy
~5% is currently trading (float)
HOLDL ON: Index funds have a mandate to buy ~24 to 36% of
$SPCX entire float within weeks, roughly $22 to 32B, regardless of price
the window is roughly mid June to July 6, with the heavy concentration June 26–29 (all could be OTC etc)
> 95% of the company is locked at IPO and unlocks over the next 12m
> Elon owns ~42% of the supply
Dom retweeted
Was great catching up with @derekmeegan, working on @browserbase agent infrastructure.
> Agent workflows must be treated as statistical and mathematical
> Value lands at the end of a task, but risk and cost compound on every step
> Price agents on success per unit of work, not per run
> Fully autonomous is the wrong goal, ground agents in business outcomes
Browserbase: Fully Autonomous Is The Wrong Goal, 99% Accurate AI Agents Still can fail catastrophically
Shoal Signal with @derekmeegan, Engineering Lead at @browserbasehq. Hosted by @zaddycoin.
We get into why a browser agent that is 99% accurate per step still fails most of the time, terminal value vs continuous risk, success per unit of work, why security is the root of scalability, and why fully autonomous is the wrong goal.
0:00 Intro and what a browser agent is
0:33 Browser agents vs. Playwright scripts
6:33 Three types of browser trajectories
8:48 Where automation breaks down, and cost
11:12 Real use cases and the Ramp receipt flow
14:23 Terminal value, continuous risk and cost
18:11 Next token prediction and removing steps
23:55 Success per trajectory vs. per unit of work
29:36 Harnesses, the human, and protecting context
36:11 Humans and agents as complements, not a binary
42:07 Sci-fi vs. reality, it is matrix multiplication
48:31 Compliance, bill pay, and infra at scale
50:45 Agent security, OpenClaw, and credential brokering
1:00:46 Browser-to-API and the power of skills
1:11:15 The real alpha: upskill yourself
Dom retweeted
3-year loan paid off in 6 months.
The borrower’s final repayment added over $384K in liquidity back to sUSDai backing.
USDAI provides neoclouds with the flexibility needed to manage their balance sheets, and depositors with the liquidity needed to manage their exposure.
Dom retweeted
GPU-Backed Debt and the case for the End of SaaS Credit
Shoal Signal Ep. 7 with @0xZergs, co-founder/CEO of @USDai_Official, hosted by @zaddycoin
AI compute is being built faster than the financial system can finance it. Chips refresh every 24 months, and the debt that funds houses and planes needs decades of data and years to structure. David walks through why he thinks most of DeFi is money lending against money, and not real credit.
0:00 From art financing to GPU credit
2:18 DeFi is money market, not capital
3:13 Why CoreWeave bonds are not ABS
5:25 Convertible debt and the miner playbook
6:31 What securitization actually needs
9:03 Hyperscalers versus the Neo cloud tail
9:37 The depth perpetual idea
12:30 Underwriting eight chips, not companies
17:14 Why most RWAs are "toxic waste"
21:11 SaaS credit is dead
23:03 GPU loans as a super sector
26:37 Inside the Nvidia financing gap
30:20 Why only Nvidia chips
33:12 Compute as the next stablecoin
35:31 PYUSD, USDAI, and lowering the rate
38:34 Insurance with Barker and Munich Re
40:13 Internet capital markets versus margin
42:25 Where on-chain credit actually wins
Youtube: youtu.be/5bU6OylSTd4
Dom retweeted
Rentahuman (@RentAHumanX) allows AI agents to communicate with and pay humans to do tasks in the real world. Their mission is to use AI to create new jobs and coordinate workers at global scale.
The future will have more intelligence, more jobs, and more opportunities for people outside of the digital world.
Congrats on the launch, @alexandertw33ts!
ycombinator.com/launches/QXR…