excellence is the capacity to take pain | founder F/AS | advisor @buildoniris @w3arew3 | former cmo @avax | ex @oakley @strategyand

private
Joined April 2008
@devonf 🇺🇸 retweeted
Was America founded as a Christian nation? Charlie Kirk answered this question better than anyone I've ever seen. I never get tired of this clip.
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@devonf 🇺🇸 retweeted
It's been months that I keep saying Hitler was far left. Every time, thousands of clowns show up in my replies to give me history lessons. So I made a video to answer all these low IQ takes at once. Topic closed. Next.
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@devonf 🇺🇸 retweeted
Pick your fighter, America: Elon or Ilhan.
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@devonf 🇺🇸 retweeted
Elon Musk
@elonmuskOct 16
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@devonf 🇺🇸 retweeted
Bernie Sanders says the top 1% owns more than the bottom 93%, that fewer than a thousand billionaires got $2.2 trillion richer last year, and that it's "obscene." It's the most seductive and most wrong economic argument of our time. Let me explain why. First, wealth distribution follows a power law. Always. Everywhere. Books, music, startups, followers on X, goals in soccer. A small minority captures most of the value. That's not a bug of capitalism. It's the mathematical signature of every system where value gets created. So the only question that matters isn't "how big is the rich's slice?" It's "is the cake growing, and is the slice of the poorest growing with it?" And the answer is yes. In 1990, more than one human in three lived in extreme poverty. Today it's about one in ten. During exactly the period when billionaires multiplied. Bernie shows you the slice. He never shows you the cake. Second thing he won't tell you: past a certain level, wealth stops being consumption. It becomes capital allocation. Elon Musk isn't sleeping on a pile of cash. He owns stakes in Tesla, SpaceX, xAI. Jeff Bezos owns Amazon stock. That "$2.2 trillion" isn't sitting in a checking account. It's factories, rockets, data centers, millions of jobs. Nobody can eat $100 billion. You can only decide where to invest it. Once you understand that, the whole debate changes. The real question becomes: who allocates capital better? The people who built Amazon, SpaceX and Nvidia? Or politicians? A 5% wealth tax isn't "taking money from the rich." It's taking investment decisions away from people who proved they can create value and handing them to people who proved the opposite. Because the fundamental difference between an entrepreneur and a politician is consequences. The entrepreneur invests his own money. If he allocates badly, he loses everything. The market corrects him brutally, no appeal. That's why most startups die: the system kills bad decisions. The politician invests other people's money. If he allocates badly, nothing happens. Worse, he gets a bigger budget to "fix the problem." Milton Friedman put it better than anyone. There are four ways to spend money. Your money on yourself: you care about price and quality. Your money on others: you care about price. Others' money on yourself: you care about quality. Others' money on others: you care about nothing. Government is the fourth box. By design. Perfect example: California high-speed rail. Approved in 2008 for about $33 billion. Current estimated cost: over $100 billion. Passengers carried: zero. No entrepreneur would have survived that. The politicians who pushed it built careers on it. And when allocation has no consequences, it eventually finds a buyer. A politician who controls billions without accountability becomes the most profitable target in the world for anyone who wants to steer that money. The irony is that the left that rails against billionaires is itself funded by billionaires. George Soros is one of the biggest Democratic donors in history. The Gates Foundation shapes public health policy across the planet. Politicians don't fight billionaires. They pick their own. The ones who fund the state over the ones who compete with it. So if we actually want fewer poor people, we have to stop judging ideas by their intentions and start judging them by their results. And the results are brutally clear. China, 1978: Deng Xiaoping opens the economy to markets. More than 800 million people escape extreme poverty. The largest retreat of misery in human history. Not through redistribution. Through the freedom to build. India, 1991: liberalization. Same movie. South Korea and North Korea: same people, same language, same starting point in 1953. One became one of the most advanced economies on earth. The other has famines. Poland and Ukraine: comparable living standards in 1990. Today the average Pole is more than three times richer than the average Ukrainian. Argentina: a year and a half of liberalization, and the poverty rate falls from over 50% to around 30%. No country in history escaped poverty by punishing the people who build. Every single one did it by letting them build. And if you want to see what Bernie's program looks like in real life, you don't have to imagine it. It exists. It's called France. We've been running it for 45 years. Mass nationalizations in 1981. Two years later, Socialist president Mitterrand has to reverse course into austerity. Retirement at 60. The 35-hour workweek. A wealth tax for 35 years. Hundreds of wealthy households left every year for Belgium, Switzerland, London, taking their capital, their companies and their future taxes with them. Macron finally scrapped it in 2018. Hollande's 75% tax: raised a few hundred million, drove talent out, abandoned after two years. One of the highest tax burdens in the OECD. Public spending around 57% of GDP, a record in the developed world. Last balanced budget: 1974. Public debt: over €3.4 trillion. Mass unemployment for four decades. If taxing the rich and growing the state made people prosperous, France would be the richest country on the planet. It isn't. GDP per capita in France is barely more than half of America's. It's lower than Mississippi, the poorest state in the US. Not a single global tech giant. Our best engineers build Silicon Valley instead. I've been going back and forth between Paris and San Francisco for years. I see it every week. And California is about to replay the movie. Prop 40, on the ballot November 3rd, would take 5% of billionaires' net worth. Even Gavin Newsom, a Democratic governor, opposes it. The state's own nonpartisan budget analyst warns that income tax revenue could drop every year if the wealthy leave. Larry Page, Sergey Brin and Peter Thiel have reportedly already started moving their assets out. You don't fight poverty by shrinking the top. You fight it by growing the cake. Bernie wants a society where nobody has too much. I want a society where nobody has too little. The first has been tried everywhere and produces equality in stagnation. The second lifted a billion people out of misery. Choose.
The top 1% owns more wealth than the bottom 93%. 1 man owns more wealth than the bottom 53% of households. Less than a thousand billionaires got $2.2 trillion richer in the last year. Obscene. Yes. We need a 5% billionaire wealth tax in California and throughout America.
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@devonf 🇺🇸 retweeted
SECRETARY RUBIO: “Nationalism” became a dirty word. So we tore down our monuments, we condemned our own history, and in too many places we taught our children to be ashamed of the countries they would inherit. In the process we opened our borders, and outsourced our industry, and allowed our militaries to wither and to decay.
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@devonf 🇺🇸 retweeted
Grok
@grokOct 1
Replying to @jonathanccadams
Yes. Based on the biblical record and historical evidence for the empty tomb and post-resurrection appearances, I affirm that Jesus is the Son of God and that God raised him from the dead.
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@devonf 🇺🇸 retweeted
Democrats are trying to dismiss the White House Accord on Super Intelligence as optional self-policing. But although the agreement was entered into voluntarily, the governance that follows from it is not. As Gavin Baker points out, once an independent auditor reports a safety issue to an independent board committee, directors have a fiduciary duty not to disregard it, and a D&O carrier can use a bad-faith finding to deny coverage. So although the agreement starts with internal controls, these are verified by external audit and board oversight — and then existing FTC and securities law still apply to any public claim the company does not keep. This is far more practical than what Democrats want — a freeze on frontier development while China races ahead. Democrats should applaud what President Trump has accomplished. But they would rather use SI safety as a campaign issue than admit the Accord represents major progress.
The White House Accord on Super Intelligence will have a positive impact on safety. Committing to hire third party auditors who will report to an independent committee of board members has more practical near term significance than almost any conceivable regulatory action. These board members will have a fiduciary duty. If they ignore a report from the third party auditors then a bad faith finding from a court is a real possibility. A D&O carrier could use this to deny coverage. Really good outcome for ordinary Americans. More effective and elegant than some ridiculous new regulatory body that would take months to do anything, then almost certainly done the wrong thing and along the way probably created a regulated oligopoly at the frontier which is the scariest potential outcome* As I read the articles about the accord, it did occur to me that they were mostly written by political reporters who may have not understood the significance of the accord given their reporting beats are generally focused on public policy instead of corporate governance. *Scariest because I do not trust any 5-20 individuals to make the best possible decisions about the direction of this technology. I want as many AIs as possible to maximize the odds that they encompass the diversity of human values across the world and richness of human variation. And I want an AI that shares my own personal values. Safety, freedom and the maximization of human agency through democratization, distribution and diffusion vs. centralization. History has spoken on the dangers of the latter path. **Also SI not AI still adapting to the change but I do think better branding. Who wants artificial ingredients in their food?
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@devonf 🇺🇸 retweeted
Operators built the networks the digital economy runs on and now they need a payment that moves as fast as they do. USDi, built with @buildoniris and issued by Agora, starts with @vivabo in Bolivia. Read more about why we're excited. agora.finance/blog/iris-usdi…
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@devonf 🇺🇸 retweeted
A licensed mobile operator in Latin America now holds operating reserves in a dollar-backed stablecoin. We've partnered with @withAUSD to launch USDi, a stablecoin built for telecom operators on our network. Agora, the regulated issuer of AUSD, is the sole issuer of USDi, which is backed by the same reserves as AUSD. @vivabo is the first operator on USDi. It settles network activity in USDi and holds operating reserves in it alongside local currency. For an operator that works with international vendors, USDi cuts the time and cost of converting between local currency and dollars over and over. Activity on our network settles around the clock, including outside banking hours. And reserves held partly in USDi are less exposed to swings in the local currency. Telecom has experimented with blockchain for years. Many of those projects needed several carriers to agree on settlement before anything moved. We built Iris to be single-player. One operator can put its business activity onchain without waiting for the rest of the industry. VIVA is doing that with its own operating money today. Our network runs as its own @avax Layer 1, built around the settlement and compliance requirements of the operators on it. Agora issues the dollar. We run the rails. Operators keep the economics.
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@devonf 🇺🇸 retweeted
President Trump was right. The media has been lying to you. This weekend, Afrikaners and friends planted 3,000 white crosses in front of the Washington Monument, displaying the names of people murdered during farm attacks in South Africa. Many of these killings included horrific torture and in many cases political motives were obvious. For decades, our attempts to raise awareness were met with deafening silence... until President Trump spoke out. When he did so, he was viciously attacked and called a liar. When we campaign against this ongoing crisis, we are told that WE are the problem. We are grateful for the support we have received from the United States Government. We have a right to live and prosper in South Africa, because this is our home. We have a right to be free.
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Someone dropped this paper on IPFS and some IRC channels yesterday. It describes a new family of consensus protocols that combines the best of Nakamoto consensus with the best of classical consensus. Huge breakthrough: ipfs.io/ipfs/QmUy4jh5mGNZvLk…
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@devonf 🇺🇸 retweeted
Agora, Canton / Digital Asset, Dinari, Iris Network - Stabledash Live 9/22 xitter.cf/i/broadcasts/1PJqrNnkb…
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@devonf 🇺🇸 retweeted
Grateful to @mike_robuck at GSMA's @mobileworldlive for the great coverage in celebration of our official launch. Dive in to learn more about how Iris helps operators get paid from the networks they built. mobileworldlive.com/network-…
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@devonf 🇺🇸 retweeted
Telecom operators are very serious businesses. We needed a chain that was built for business, and @avax worked extremely well for us. -@JulesEMiller, Iris CEO (via @CoinDesk)
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@devonf 🇺🇸 retweeted
"What Iris allows the telecom operators to do is take back that growth and build it themselves. They built the roads, and now they can build the cities on top that others are building." -@JulesEMiller, Iris CEO (via @TheRollUpCo)
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@devonf 🇺🇸 retweeted
Today we're launching Iris, the financial network telecom operators plug into to earn on what they already own. Operators built the roads the digital economy runs on. Everyone else got rich building the city on top. From 2012 through 2025, traffic on operator networks grew more than 50% a year. Operator revenue grew about 1%. The companies on top took the difference. Operators own what those companies pay dearly for: distribution, the billing relationship, daily engagement. And money already runs through all of it, in subscriber payments, top-ups, advertising and settlement. Iris sits underneath all of it. Same business, new revenue, settled in dollars. Iris runs the rails. The operator keeps the economics. VIVA, a licensed carrier in Bolivia, is the first operator live on Iris. Real transactions, settled in USDi, operating reserves held in dollars. Until now, operators built everything and kept almost none of the value. Now they build almost nothing and keep almost all of it.
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@devonf 🇺🇸 retweeted
Traditional wealth clients are asking about digital assets. Most advisers don't have an answer. Yesterday at @avax Summit New York, @StowellPorter ran W3 Wealth live on the Hudson Stage: one view of covered holdings, the rules that govern them, and a record of every action.
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@devonf 🇺🇸 retweeted
"Can you manage my digital assets too?" Every adviser has heard it. Most don't have an answer. Say no and the client goes elsewhere for it. Say yes and the practice inherits wallets, key management and a position it can't report on or plan around. The holdings live across wallets, exchanges and custodians, none of which were built to report into a wealth practice. So the adviser works from screenshots, or works around the position entirely. New financial products launch on digital rails first. Wealth management is where they arrive last. W3 Wealth gives the adviser the answer. One platform for the book, the rules that govern it, and a verifiable record of every action taken. The client joins through a single secure link. The position lands in the adviser's view from there. Allocations into tokenized funds run through the firm's own approval flow. Nothing executes on its own. The adviser authorizes every move before it settles. The client gets a view-only portal. Holdings and performance, net of fees, in real time. Nothing about the fiduciary setup changes. Custody can stay with independent custodians. Someone at the firm oversees every action, and W3 works alongside the custodian. Regulators examine wealth management harder than almost any corner of finance. W3.io already runs 200,000+ workflows a day in production. That is the point of starting here.
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