Chamath Palihapitiya

A few things: (1) This isn’t the bad thing people think it is. (2) Thank you to all the VCs whose money is subsidizing this largesse to customers (we are one). (3) Not knowing the data, I can still guarantee that there is a huge bi-modal distribution on usage happening in Claude. A small group of super cracked devs use infinite amounts while devs at traditional companies use some/little. Overall, on a time-based cohort basis, I suspect positive margins are largely in tact despite a deep J-curve acquisition loop on some users (ie the super users). Anyways, as the CEO of 8090 who has to pay the bills, I thank everyone funding Anthropic for…

I don’t see how every CEO doesn’t internalize this and realize the same thing. You can’t bet your entire company on one model / model maker. But you also can’t blow your OpEx budget on rampant token consumption across multiple models and not see a real ROI. At least with software development, this is what we we set out to fix when we built Software Factory. In the real world, you build your own factory and you buy the oil from the cheapest vendor. We think the same will be true for most intelligence and we make this true for software. Try it here: https://t.co/fkfTXgdfXK

This guy clapped at me. I clapped back. We then spoke. So I funded his two daughters’ college accounts. I hope the kids become better investors than their dad! But in all seriousness, I also think he was very mature in how he internalized our conversation. Onwards!

I went home for lunch and now I’m stuck at home. https://t.co/3mUMCHE4uf

Deep Dive: How Equity Tokenization Is Breaking TradFi Barriers

Modern equity markets sit on infrastructure built long before digital networks existed. Global equity markets exceed $150 trillion in value, yet trading hours remain limited, settlement still depends on layers of intermediaries, and access to many of the highest-growth companies remains restricted to a small group of investors. These structural limits define how capital moves, who can participate, and how quickly ownership can change hands. Market infrastructure providers are already exploring how tokenization could modernize this system. Institutions, including NYSE, Nasdaq, and DTCC, have begun developing tokenized equity and settlement …

Just to add some color to the commentary about Anthropic and Cursor's revenue ramps, from the perspective of a customer. Since November 2025, our AI costs have more than tripled and we are now spending many millions per year trending to $10M+ per year. That, in and of itself, feels very scary to me running a small startup. Mostly because I do not yet see an equivalent uptick in productivity or revenue...while their revenues may be doubling and tripling every month, ours are not so this is starting to eat into margins. So logically, I am now wondering how much of this is models running in Ralph loops on behalf of an engineer ambivalent to …

1 week until our first live demo + Q&A open to anyone interested!

Apologies to all those that fell for the rage bait. My Clawdbot sent an alarm that my follower growth was down 5% vs counterfactual so we course corrected. We are now back on track. Thank you for your attention to this matter!

There is only one hero amongst the two women below. She is the fighter pilot on the left.

I have been a citizen of two countries of the British Commonwealth as I grew up (Sri Lanka and Canada) before I emigrated to America 26 years ago. I used to look up to Britain. I admired their institutions. Mostly, I was deeply proud of their heritage and customs. But their current course and speed will lead to collapse and demise. How has a country so historically great become so self-loathing? How did the “Empire on which the sun never sets” become this broken and backwards? There are many dark lessons to be learned here about the ravages of rampant immigration, guilt, censorship and national decay.

This past week’s improvements to Software Factory were largely focused on usability while we worked on some long pole agent improvements which should drop soon. When talking to our early users this past week, we found that many were founders and executives frustrated by AI investments that were costing a lot but going nowhere. They learned that simply giving a coding agent to a developer doesn’t necessarily result in better or higher quality software. Software Factory gives teams the discipline that fixes this. It provides a framework that enables teams and coding agents to work together and consistently build what customers actually want…

Chinese growth is falling off a cliff. The CCP just announced its official growth target of between 4.5% and 5%. This is the lowest growth in China in 30 years. At the same time, with Venezuela and Iran off the chess board wrt energy supply, they are increasingly challenged in getting the atoms they need to sustain themselves. It makes for a very constrained set of decisions over these next few years, especially wrt Taiwan.

Whether you love it or hate it, the numbers don’t lie. If you don’t watch @theallinpod on the weekend, you will come to work on Monday missing what everyone is talking about. I don’t make the rules.

What happened at Social Capital was several things: 1) Personally, I was going through a divorce. It was a very hard time. 2) My ostensible “cofounders” spent more time jostling for board seats and credit for deals with outsiders vs doing good work and mentoring a team. They made the place a political snake pit - something that I had unfortunately allowed to happen. So I killed the snake. 3) It was increasingly clear that my returns were sporadic but gargantuan and didn’t fit in a classic fund with LPs. I was a home run hitter in a business where raising new funds invariably led you to hitting singles and doubles. In other words, I was mak…

If even 10% of this is true: 1) your identity on X becomes a crucial financial asset. The distribution of your identity becomes a huge asset that others will underwrite. Investing will then include building a following and posting good, interesting, engaging and useful content 2) stablecoins further explode in usage - which inevitably means all the yield will go to users and not to the platforms 3) fraud falls off a cliff - the cost of being a bad actor and being sidelined goes way up Exciting, as a user, to be a part of this…

Four years ago, I invested ~$40M and got involved helping build a small publicly listed company in Canada called Perimeter Medical. Why? They were trying to build an AI enabled device to help doctors do cancer surgeries better: take a tumor out from a patient, analyze it with AI while still in the surgical theater and tell with precision if all the cancer was taken out. If yes, close the patient up. If not, go back and get all the cancer. Well, we got FDA approval today!! Our product, Claire, became the FIRST FDA-approved AI-enabled imaging device for breast cancer surgery. We also got Breakthrough Designation. Currently, ~20% of women f…

👀

GLP-1s are no free lunch…

Agile Has Broken Your Company The Agile Manifesto was signed in 2001 by 17 developers trying to fix broken software projects. It worked…until it didn't. Twenty-five years later, Agile has become a $20B+ industry, and the software it produces is getting worse. The Four Principles The Manifesto prioritized: - Individuals and interactions over processes and tools - Working software over comprehensive documentation - Customer collaboration over contract negotiation - Responding to change over following a plan These aren't wrong in isolation but the problem is what they became in practice. "Responding to change" became an excuse to never finis…

There should be a cost for frivolous lawsuits...especially when it stalls the will of the people and jeopardizes $100Bs of investments.

Nice.

This is an important moment for all companies: By picking only one model, you absorb that model maker’s institutional biases and idiosyncrasies. If those deviate from your POV, you are taking on massive risk as we saw with the DoW this weekend. No real business should take kind of risk - especially if AI is meant to be a core part of their work. You need to be able to swap between models with limited impact. This is basically impossible rn but as model quality asymptotes, it will become easier. One thing we have done inside of Software Factory is to absorb this complexity into our layer so that software development doesn’t stop - the Facto…

Wake up California! Apathetic voters have been towing the “party line” and voting in the same Party since 2011. Look at the results… When will you realize the damage you are enabling? Why won’t you demand real progress for your vote?!?! Your tacit support of these policies with no demand for accountability or progress has made the most incredible State in the Union into a dumpster fire.

Smartphones + computers in class are having a negative effect on our kids’ test scores…

The State of California has been run top to bottom by one party since 2011. Here are their results: 1) highest state income tax 2) highest rate of poverty 3) highest rate of unemployment 4) highest rate of homelessness 5) highest energy costs Hard to explain this away. https://t.co/AjuwaiM3mn

Sigh…

Ask this simple question: would this fumble have happened if it were Tim Cook? Sundar Pichai? Satya Nadella? Obviously not. Even if they did push back, they have had years of proving their ability to navigate very complicated situations and find win-wins. Whatever happened here isn’t an issue of business strategy, it’s one of ego. It’s not my fumble. Own it.

Wow. No elected official or CEO can work with a company on a critical technology if this is their response.

In a democracy, it’s absolutely ok to define who can use the things you make and how. But it’s also absolutely ok for the Government to lose trust in you, tell you to fuck off and find an alternative. It’s also absolutely ok for you to nuke your own company in the process. The timing of this is not good for Anthropic and could be a potential boon to every other model that is exceeding expectations in their upcoming version (Grok, OAI, Gemini). More generally, I don’t see how this isn’t a slippery slope. What if a model maker updates their ToS that would block a use case that is legal but subjective? Agreeable in some states but not in oth…

But nuclear?! Solar is nuclear, dummy. Just happens to be far-field nuclear: Cheap, abundant, simple and quick to turn on and when you combine it with a little storage, it’s always-on.