GM, Banking @float_financial
Toronto, Ontario
Joined January 2010
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Jeremy Black retweeted
bullshit, come and work with us.
generalmagic.inc/careers
Jeremy Black retweeted
It’s quite disturbing that Anthropic has been running a campaign to lobby the major faiths to adopt their own philosophical interpretation of AI, rather than taking input from them.
I’ve been fortunate to spend time at the Vatican, and I’ve always asked for advice and guidance, answered the questions asked of me, and been grateful to them for their time and guidance. It’s insane to me Anthropic would actively impose their viewpoint to the extent of threatening to pull out of events that don’t precisely align.
It’s a moral arrogance and dogmatism that has characterised EA and Anthropic (certainly its leadership at least) for a very long time. I’m glad these stories are coming out and being exposed.
Jeremy Black retweeted
The most valuable decisions give you zero feedback
@tobi explains ...
"Intuition is actually the most valuable when there isn't direct feedback."
Wait, what?
"If there's many choices, like there's five things that look like good paths to go forward, and any of them has rapid feedback, everyone goes to that."
"That is what we call short-termism, right?"
But there are many ways to improve the company (and yourself).
"Many of them involve long-term investment, refactoring, potentially going into a new market, potentially saying no to going into obviously new markets and actually doubling down and going deeper on our current market. Or we could do what increases the stock value. By the way, this one has a daily ticker and rapid feedback."
so in this sense, it's the absence of rapid feedback can be a strong signal.
"I find a very high correlation between the right path and the ones that don't have feedback loops attached."
My third conversation with Shopify co-founder and CEO @tobi.
0:00 How Shopify Uses AI
7:18 River: Shopify's Internal AI
8:55 How to Encourage Osmosis Learning
10:52 AI Dreaming and Self-Reflection
11:53 How to Use AI for Strategic Decision Making
14:11 The One Thing AI Cannot Do
16:04 What AI is Making Worse at Shopify
19:46 Predictions: Where AI is Headed Next
21:55 The Future of AI-Powered Software
24:40 Will CEOs Be Replaced with AI?
27:54 Can Superintelligence Be Controlled?
31:13 Critical Skills in AI Age
34:22 Why Complex Solutions are Usually Wrong
36:33 Conditions Needed for True Intuition
38:02 The Best Path Doesn't Have Instant Feedback
44:51 How Affirmations Can Shift Your Behavior
50:44 The Inobvious Thing Hurting Companies
52:37 Relationship Between Beauty and Creation
56:23 How SpaceX Moves Forward By Subtraction
1:00:24 Why Companies Need Refounding Events
1:01:50 Books as Cheat Codes
1:02:39 Three Books to Change Your Thinking
Enjoy!
(Includes paid promotions.)
Jeremy Black retweeted
Weekly delivery of gear for new crew joining our rocket ship @Nord_Space! We will be ~75 by end of year and accelerating. Newfoundland engineering office opening soon too. Don’t blink!
Jeremy Black retweeted
Crypto neobanks posting charts showing sudden, near vertical, adoption as proof of PMF, gives me PTSD.
Everyone who’s ever run a neobank knows what this is. It’s crime. You just don’t realize it yet.
Call people who know asap!
Jeremy Black retweeted
Real ones know that @kartiktalwar and @liamihorne have basically put the Canadian tech scene on their backs with this event
Hard to overstate the enormous impact they’ve had on not just my life but 10s of thousands of young Canadians
Jeremy Black retweeted
We're hiring a Senior Staff Product Designer at @nubank to shape the future of open money and open financial services — not "crypto."
Looking for a curious, high-craft design leader to build intuitive financial products that solve real problems for real people.
Apply here: jobs.ashbyhq.com/nubank/691d…
Know a great design leader? Tag them in the comments or repost to pass this along.
Good problem definition. Fintechs have an unlimited appetite for intelligent, real-time, warehouse credit.
Coming out of stealth today, I’m building Sugar (@usesugar) which solves fintech’s biggest pain point: liquidity for pre-funding and reserves.
Fintech’s biggest secret is: in order for customers to move money, the fintech they use needs to pre-fund payments so that their payments go through.
Sugar solves that pain by providing liquidity in an API, or as a line of credit in USD, USDC, USDT.
Some popular cases we help solve in fiat and stables:
- Pre funding payments on/off chain
- Collateral requirements and escrow
- Sponsor bank requirements
- Credit reserves
The problem:
While most SMB segments are well served for credit, fintechs are deeply underserved as there isn’t a credit product designed for fintech’s pre-funding and reserve capital needs, because they did not exist at this scale until a few years ago.
Sugar helps finance those fintechs so that they can scale their payments or credit business, while diluting less and not having to face delays in growth or interruptions of service.
Sugar doesn’t require you to change your payment processor, bank sponsor, payout provider, or on/off ramp infrastructure.
We want to unlock your liquidity to help increase scale.
How do we do it: volume based underwriting.
We’ve pioneered what we call Volume Based Underwriting, where we underwrite fintechs based on their volumes enabling us to understand a fintech’s growth, volatility, and fraud in order to offer them liquidity.
Why now.
Fintech's first two waves.
- Wave one moved banking online through mobile and desktop apps, digital KYC, and payments. The neobanks launching in 2026 still do the same.
- Wave two is payments plus credit. Neobanks have to differentiate, and credit is how the hundreds launching today will win customers.
- All of them will need liquidity for pre-funding, reserves, collateral, and warehouse lending.
We want to be that lender.
Our master plan:
- Customer experience: Make getting liquidity an easy experience for fintechs. Who provides the best experience wins.
- Cost of capital: Develop a loan book and re-finance with each balance sheet milestone with lower cost lenders, from banks, M&A, and DeFi. The lowest cost of capital wins.
- Going vertical: Launch verticals that compliment and strengthen the core credit thesis. Rinse and repeat.
If you’re a fintech founder, CFO, or someone in finance and you’re looking to solve your pre-funding or reserve needs, send me a DM.
Thanks to the team at @WhiteStarCap and @alliance for supporting us early in our journey.
PS,
For friends that knew of us before today, we are rebranding away from Superbank.
Jeremy Black retweeted
Rundown on where Visa is seeing pmf w/ stablecoins from their CEO, Ryan McInerney:
> 1) Consumer payments -> Visa card issued on top of stablecoin balances. Growing "very, very quickly" and up to ~160 stablecoin-card programs globally (i.e. Whop, Etherfi, Plasma, Redot, $WU soon etc)
> 2) Stablecoin settlement -> "Historically we settle in fiat. We do it Monday through Friday, and we do it once a day. But now we're using stablecoins to offer settlement 7 days a week, multiple times a day across border around the world". Up to single-digit billions (last # I saw $V release was ~$5 billion in Jan '26) and growing "very, very fast"
At earnings, Visa disclosing their stablecoin settlement volumes now up to $4.6 billion run-rate, up ~4.6x from just September and ~18x from the start of the year
Jeremy Black retweeted
Stablecoin collateral backing $GHO has nearly tripled its share in six months, from ~5% to 14%.
New asset types are joining ETH and BTC as meaningful sources of borrowing demand.
GHO is starting to scale from a wider collateral base.
Over the last 30 days, borrowing against syrupUSDT increased by +20M GHO , while WBTC still backs 23.6M GHO and AAVE collateral demand added +3.95M.
The interesting part is where the growth is coming from.
ethereum:0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f is no longer growing from one type of demand. It is now backed by a wider mix of collateral across DeFi, from BTC and AAVE to LSTs, yield stablecoins, tokenized gold, and USDT0.
That makes GHO more than a borrow asset inside @aave. It is becoming a stablecoin with a deeper credit base.
A deeper credit base gives GHO more room to scale.
Investing in regulatory authorizations and compliance is at the heart of everything we do at Aave Labs.
Today, we announced that UK residents will soon have access to zero-fee stablecoin on/off-ramping across all Aave Labs products.
Jeremy Black retweeted
Excited to be bringing stablecoins to Canada! 🇨🇦
My personal goal is to move my personal Norbert's Gambit volume onchain this year on Tempo.
CADD is live on Tempo.
@TetraDigitalGrp's CADD is the first Canadian dollar stablecoin issued by a regulated financial institution, approved by Alberta Treasury Board and Finance, and backed by National Bank, ATB Financial, Wealthsimple, Shopify, and others.
Jeremy Black retweeted
New deployment that puts @aave at then center of the massive @okx user base across @wallet, @XLayerOfficial, and more.
A week later and everyone at EthCC just wants to talk about Whop Treasury.
Yield on @aave.
This morning at @EthCC, @StaniKulechov presented our vision for connecting productive, real-world infrastructure assets with onchain capital markets.
The programmability, transparency, and openness of DeFi increases access to credit and reduces cost of capital.
In the near term, fintechs and their users will be the primary beneficiaries as credit moves onchain and borrowing costs compress by 50-75%.
In the long run, DeFi will become the capital allocation layer for financing abundance: water treatment, energy capture, energy storage, robotics, and machine intelligence.
Watch the keynote here:
youtube.com/live/5FXnlac2k5s
Jeremy Black retweeted
Whop shipped 6% yield to 21M users. Most of them have no idea it's DeFi.
If you haven't heard of @whop, they're like Shopify, Patreon, and Udemy rolled into one for the internet generation.
21M users, $3B+ in payouts, growing 255% year over year.
Their new Treasury product enables balances to earn up to 6% on @aave through @veda_labs via an integrated self-custodial wallet on @Plasma.
The user just sees a number going up every second in their Whop dashboard, with zero crypto friction.
Classic DeFi mullet.
While congress debates whether stablecoins should be allowed to pay yield, Whop shipped yield through lending markets, sidestepping the debate entirely.
Everything is a bank.
Any platform with float can offer yield as a feature.
This is the same threat to deposits that banks have been lobbying against, except this one is less in their control.
Users are on Whop because that's where they earn. Now they can grow their balances there too.
It's only a matter of time before Whop enables spend (cards) and credit (they can already see your revenue).
This is the consumer equivalent of merchant banking, and banks will need to step up the utility of their offerings in order to compete.
