The Ring Kissing and Bootlicking Will Continue While Networks Eat The State
Good morning…
The ring kissing has reached new grotesque highs in the White House. But, grotesque is good for stocks so the kissing will continue.
Tim Cook brought gold and got called a girl, but hey the stock is up and now shareholders can breathe a sigh of relief.
Today, Live Nation is back at all-time highs. They have stopped trying NOT to be a monopoly. Here is how it works…Trump hints to media that Justice Department is after Live Nation (same for crypto, ai, chips etc). Live Nation takes that ‘bat signal’ and pays Trump. The bummer here is at least with our tech oligarchs, consumers get good products in exchange for their money and soul.
At least it’s obvious and in plain sight now.
While this circle jerk continues and stocks go up, the real change is happening and that is ‘networks are eating the state’.
My friend Dan is a great writer and posted this explainer of ‘networks eating the state’ which the tech deep thinker Balaji has been talking about the last year. Do read Dan’s short essay. Some of the gems…
and…
Balaji’s recent post on all things AI is not as easy for me to digest but worth everyone here trying.
For me, it is all about big fat trends and we are still very early in the big fat trend of AI. AI is another 10 times 0 to 1 moment in history. Starting a business is at least 10 times easier and less expensive than the last 0 to 1 moment.
I have started/founded companies at the beginning of other 0 to 1 moments (not yet AI). Pre-internet I was lucky enough to be a consumer product entrepreneur in the consumer products space as QVC reiggned. I thought that was distribution nirvana.
Turned out to be the thing before the thing.
I took my stake and started a hedge fund at the beginning of the internet which was my way of joining the financial revolution bright by early internet and information speed. Easy to set up, hard to beat the markets.
As the web 2.0 revolution began with YouTube and than the cloud I started Wallstrip (a web video show acquired by CBS) and soon after Stocktwits. Web 2.0 and the cloud has been good to me.
Now the magic of AI. I do not plan on starting a company, but I am all in on AI as a tailwind for my vision at Stocktwits in year 17. AI helps bring a lot more of my imagination into the product and roadmap.
I am excited that my kids Rachel and Max can pursue an entrepreneurial dream/career much easier in 2025 than I could when I started out of school in 1991.
As Dan writes re Balaji’s AI and Network notes:
AI won’t crown one god. It may mint thousands.
He argues that AI is polytheistic: thousands of specialized intelligences, no single digital God.
Each network raises its own deity, like Bitcoin’s consensus as incorruptible priest.
But here’s what matters: every AI faces trade-offs. Which ones it makes reveals what its network worships.
Bitcoin sacrifices everything for trustlessness. Others optimize for speed, profit, or control.
Each deity mirrors its network’s deepest ideals.
The Vatican served one God and needed kings’ permission. Networks spawn many gods and need none.
Take your time, find the right mentors and networks and be careful who you pray too!
Have a great day.
