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Balaji· 2025-07-18 14:33
@Jason @saylor Vitalik visited Network School a few weeks ago. We spoke about startup societies, prediction markets, and the future of Ethereum.For the full episode with @VitalikButerin:📺YouTube: https://t.co/MUElE4xeI9🔊Spotify: https://t.co/FcrGZaOxez🍎Apple: https://t.co/TsHFBrliKN https://t.co/RaVp6iaNJD ...
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Balaji· 2025-07-18 14:11
Bitcoin is hitting all-time highs.And the Network State Podcast is back.All new season featuring:- Michael Saylor- Jason Calacanis- Vitalik- Jeremy Howard- Benedict Evans- Claire Lehmann- Coinbase Base- Lightspeed- and SolanaTrailer and links to all episodes below. https://t.co/vQJ2FMJsOc ...
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Balaji· 2025-07-16 07:29
AI = AN INTERNPrompting an AI agent and then reviewing the code can be slower than just coding it yourself.But when? Do we have simple heuristics for when to use an agent vs code it yourself?Use an agent when it's frontend code (which you can instantly inspect for correctness), or interaction with some API (where you know what to do but not the specific incantations for executing the API calls), or a data analysis, or a prototype.Do it yourself when it's a domain you know very well, or it's highly contextua ...
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Balaji· 2025-07-14 15:15
Regulations are often marketed as increasing competition, but usually reduce it.Because they boost cost of doing business, which favors bigcos, which then get cozy with big government agencies, causing regulatory capture, and blocking out startups.https://t.co/JOBVSb45rnHowie Gold (@GoldenPlutonium):@balajis Wouldn’t it be great if the FTC, before promulgating regulations, ran models that wargamed the real-world effects of those proposed regulations? ...
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Balaji· 2025-07-14 14:56
The main error is: people think anti-acquisition regulations harm Big Tech.But they actually harm startups more, by cutting off exits and thereby reducing money for investment!When a bigco can't surrender to a startup, it fights to the death.https://t.co/hYJdolgIEzBalaji (@balajis):Remember, big tech did clean M&As for years.So what changed?It was the Biden-era regulatory assault.The most recognizable face was Lina Khan at FTC.Though to be fair, it's now an international affair.And it's also been continued ...
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Balaji· 2025-07-14 14:51
Remember, big tech did clean M&As for years.So what changed?It was the Biden-era regulatory assault.The most recognizable face was Lina Khan at FTC.Though to be fair, it's now an international affair.And it's also been continued by the current admin.Because Trump 2 is pro-crypto, but anti-Big Tech.And you know what? I get it.Big Tech did back wokes and censor citizens.But big M&As aren't really big wins for bigcos.They're more like surrenders.They signify that big tech couldn't build, so had to buy.And each ...
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Balaji· 2025-07-14 02:36
TLDR: Windsurf employees may well get their exit, if remaining management just executes the dividend.After looking into this, I think the original intent was for that $100M+ cash balance to indeed be used to give employee distributions via a dividend. It corresponds very closely to the unvested equity number.But due to the legal overhead that attends any Big Tech acquisition nowadays, the founder was muzzled and couldn't say this outright. He could only say "dividending out the balance is an option."So: the ...
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Balaji· 2025-07-13 03:25
Founders are resourceful, but not omnipotent.The FTC blocked the Figma and Adobe acquisition, in a random and illogical way, and the fallout from that has distorted M&A. It’s similar to Sarbox distorting IPOs. https://t.co/F4B0OdHYHo https://t.co/bLBgtLJX40Jerry Jiang (@TheMingjie):@balajis Why all the blame for Lina Khan?If founders want to, they can always find a way. ...
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Balaji· 2025-07-13 02:18
From a well-known investor I know:“Saw some people claiming common doesn’t get paid in the Windsurf acquisition. They are wrong, you are right. I checked with Windsurf investors, everyone is getting paid, including common.The one wrinkle may be employees who aren’t vested. And preferred may be taking a disproportionate tax hit, because it doesn’t qualify for QSBS, just like Scale didn’t qualify.”Caveats: I haven't seen the waterfall myself, and these deals are complicated, and I don't like to get involved i ...
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Balaji· 2025-07-12 19:12
Initiating violence is very expensive.(In addition to being immoral.)The US spent $5T on war, for nothing.Russia spends >$1B/day on Ukraine.So, war is an absolute last resort.Much smarter to buy from a willing seller.Land is a commodity in the Internet era anyway.Izecube 🖱️ (@its_izecube):@balajis @slatestarcodex they can just take it like the old times through some violence ...