There are still many exceptional individuals out there who will absolutely figure it out. Btw if any IC is reading this, we’re hiring at @Dune
JonathanS retweeted
will AI kill us in 10 years… buddy, the bond market is going to kill us next week.
Someone asked me today why there's so much hype around Jev.
My take :
1/ people are young or have forgotten what ML is (yes we had probabilistic classifiers 15 years ago)
2/ people have been used to token/word spitting models for the last 4 years
3/ Jev is easy to use
=> PMF
Who needs semis and memory stocks when you can buy birkenstock
Breaking: Michael Burry just doubled down on his shorts
He:
• Added to Micron $MU shorts
• Added to Nebius $NBIS shorts
• Added to Semiconductor ETF $SOXX shorts
• Added to Palantir $PLTR shorts
• Bought more QXO $QXO
• Bought more Build-A-Bear $BBW
• Bought more Sprouts Farmers Market $SFM
• Bought more Birkenstock $BIRK
• Bought more MercadoLibre $MELI
Burry said "I find the prices offered by the market rather attractive. All these positions are full positions for me now." per his Substack
Fun product launch page, good to see something new.
And you, what’s your catalyst ? @CatalystMkts_ catalyst.markets/btc-to-150k
Hello, @SkewTrade maybe check @skewdotcom if you want to hear a blast from the past and see what we had built at the time :)
Same name, different team, I wish you all the best (lol if you also get acquired by @coinbase)
JonathanS retweeted
If Dario wants to slow down the pace of AI, he should just move the company to Europe.
There's a special place in hell for vendors who have billing cycles that start/stop at random dates in the month rather than month start/end.
JonathanS retweeted
we’re like a barbaric ancient tribe that just got rain for the first time after 80% died
We’re happy users of Centaur at @Dune, feeding it ever more context and tools.
And we may be cooking something around OAuth and GitHub ;)
Announcing Centaur 2.0!
Centaur is frontier, agentic infrastructure that you own. Centaur is like Claude Tag, but open source and on steroids.
Centaur 2.0 can connect to everything you have access to, and can reason over it next to where you work, either in Slack, Discord, Teams or in your local Codex or Claude Code via an MCP.
But context isn't useful if it can be accessed by anyone, so we rebuilt Centaur from the ground up for security. Centaur obviously doesn't have access to secrets because we're leveraging egress proxies.
Centaur 2.0 takes that a step further enabling administrators to configure who can access what from where. This means that Centaur can have access to private information that you normally wouldn't feel comfortable giving it access to (e.g. DMs or sensitive channels and docs) but only expose it to authorized principals.
It also means you can add Centaur to external channels and leverage it as a virtual colleague that doesn't live only in your Slack, for example, but also your Slack Connect channels! This is extremely powerful as we start moving to a world where agents cross organizational boundaries.
Also in case anyone's wondering, yes we rewrote it in Rust! Centaur is now way way more stable at durably executing threads, and its workflow engine is now based on Absurd.
We have been operating Centaur since January, officially launched and Open Sourced it in May, and now we're full speed towards making it the #1 open source agentic infrastructure.
To succeed at that, I'm thrilled to welcome @mslipper to the @paradigm team who will be leading all our Applied AI work, while continuing to maintain and extend Iron Proxy as the leading secure secret access for agents. Welcome Matt, it's an honor after all these years of knowing you!
Read the full blogpost below, and apply to join our team!
2026, the year the fat protocol thesis is finally proven wrong.
From August 2021 through 2023, blockchains captured 90%+ of monthly crypto revenue.
By mid-2026, that share dropped to 25%.
The new breakdown:
🔸 Finance apps: exceeded 50% in most months
🔸 Consumer apps: steady meaningful share
🔸 Blockchains: down to ~25%
🔸 Physical and crypto infrastructure: rounding errors
The economic center of crypto moved from the base layer to the apps running on it.
Early cycles were infrastructure-focused because infrastructure was the only place value could accrue.
Users paid L1 gas fees because there was nowhere else for the money to go. Ethereum's high fees, Solana's spikes, Bitcoin's security budget drove revenue.
As blockchains became cheaper, more scalable, and more reliable, apps could finally support real users and capture their own revenue streams.
Finance apps (perp DEXs, lending protocols, stablecoin issuers, trading tools) earn fees from trading volume, not just gas.
Consumer apps (memecoin launchpads, wallets, social tools) turn engagement into sustained revenue as they find market fit.
The internet followed the same arc.
In the 1990s, ISPs and backbone providers made the money. By the 2010s, applications and platforms captured most of the value.
Crypto is following that path, faster and with full transparency because everything settles onchain.
You can't value L1s solely on the claim that they capture all fees anymore.
App-layer protocols have proven that lean teams can generate hundreds of millions in revenue across:
🔸 @HyperliquidX -style derivatives platforms
🔸 @Pumpfun -style consumer platforms
🔸 The wider DeFi stack
These products now capture economic surplus that once flowed almost entirely to validators and miners.
That diversification is healthy. Crypto no longer depends on one revenue source or one narrative.
The infra succeeded, which is why its revenue share fell. Finance and consumer apps now generate the majority.
That's where the next decade of value compounds.
h/t: @Blockworks
