Prediction markets: There WILL be fraud charges in Minnesota @Jason: "People are betting somebody is gonna be charged over this." "And if Tim Waltz specifically knows about this and did it to buy votes, and that can be proven, he should go to jail." "So we need to investigate this massively." "Double click, double click, double click."

David Friedberg: California’s “Billionaire Tax” is a Trojan Horse to Go After the Middle Class's Private Assets @friedberg: “The reason they're calling it a billionaire tax is to make it easier for people to vote for it, and sign up to this entirely new tax system that they're proposing to put on all Americans at some point, and for the first time ever degrading our private property rights.” “Forget about how much wealth you have, forget about how rich you are, forget about the term billionaire, millionaire, whatever it is.” “We're creating, or proposing the creation, of a new tax system that allows the government for the first time ever to come in and audit everything you own.” “All the jewelry your grandma gave you, the value of all the couches in your house, the value of your car, the value of all your stocks and bonds, and the government can come in, and for the first time, look through the veil into your personal property.” “And say, ‘Here's how much all this stuff is worth. I'm charging you a percentage of that. That's what I need to get paid.’ And it doesn't matter that it starts with billionaires. What matters is that we're giving the government the right to look into our private property and take a percentage of it every year.” “The total net worth of billionaires in the US is $8 trillion.” “The net worth of the US, the middle class, and everyone else is $170 trillion, compared to $8 trillion of the billionaires.” @chamath: “They need a way to open the door so that they can go after the real honey pot.” “The real honeypot is not 200 people.” @friedberg: “Just so everyone understands the real goal of this is not to tax billionaires, because there are other ways to tax billionaires.” “Charge them a capital gains tax if they borrow against their assets that they haven't paid capital gains tax on. Very simple, that can resolve this.” “Another thing you can do, you can raise the capital gains tax rate. Sounds unpopular. I don't agree with that, but that's another way to deal with this, which is to take the capital gains tax rate from 20% to 30%. You could do that.” “The real goal of this is to create, for the first time in American history, a private property asset seizure tax. Because they're going after the $170 trillion, not the $8 trillion that the billionaires have.”

Chamath: Two terms you need to pay attention to in AI are Prefill and Decode “There's two terms that I think you're going to hear a ton about over these next few years.” “The first term is prefill, and the next is decode.” “What prefill and decode are, are two very distinct ways of how models think, and how a model goes through the process of answering a question that you ask it.” “And so when you send a prompt to AI, what happens is that the model processes it. This is called the reading phase or prefill.” “It reads your entire prompt all at once. And then it does a bunch of math, calculates all these relationships between all the words, and it stores them in temporary memory.” “The problem is that this is really compute bound. So it requires massive brute force. And Nvidia GPUs crush here.” “And their architecture is designed for massive parallel processing, which makes them really amazing at digesting these long prompts.” “So the problem just gets bigger and bigger, Nvidia just completely dominates.” “But the next phase though, this critical phase, the decode phase, is the writing phase, right?” “So the model starts to generate a response, you ask it a question and its response, one token at a time.” “And then to pick the next token to pick the next word, it has to look back at everything it has said already so that it doesn't hallucinate.” “The problem is that this is incredibly memory bandwidth constrained.” “And in our architecture, a long time ago, we made these design decisions from day one.” “And so what we did was we took a very different architectural approach, we took a very conservative process technology. We weren't pushing the boundaries of physics.” “And we used a lot of what's called SRAM. So memory on the chip so that we could do this decode thing as well or better than everybody else.” “And so now when you put these two things together, I just think it's going to create a huge acceleration in the ability for this entire infrastructure layer to get much cheaper and much more valuable, which I suspect then it'll have a lot more developer pull, you'll get a lot more applications being built, billions and billions of more people using it.”