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📝 The (non) consensus trade

📝 The (non) consensus trade

PLUS: a basic investment thesis

Alex M.
September 08, 2023

GM everyone. This is 2036, the crypto newsletter that pays you.

Today is Favorite Friday, where we serve up the resources we most enjoyed this week 🍲.

This week was all about AI.

Why?

Because the biggest user of crypto will be AI.

So if you're looking to (seriously) upgrade your understanding of AI this weekend, this is your list...

🥢 Our Favorite Resources

What we most enjoyed this week

1/ Haseeb <> Naval on AI

Naval and Haseeb are some of the most respected thinkers on the future of technology.

They’re also both big investors in crypto and AI.

But they have totally opposite views on it.

To understand why, give this short snippet a quick listen. It’s fascinating.

2/ Naval (alone) on AI

Naval is on a roll. This short 5-minute clip will teach you more about AI alignment than most books and blog posts.

You can also find the transcript right here.

“The only way to fight AI is to build AI.”

Marc Andreessen happens to agree.

So, if you haven’t done it already, then read…

3/ Why AI Will Save the World

This essay became an immediate canon in the technology world.

So we did you a favor: we summarized the whole essay here (by hand, no Chat-GTP involved.)

If you can’t find the time to read the original, the summary is well worth it.

And if you enjoyed the essay, you’ll love:

4/ Marc Andreessen on The Huberman Lab Podcast

Marc Andreessen was on the Huberman Lab Podcast this week.

That’s rare. Huberman never invites technologists.

The two discuss:

what great entrepreneurs all have in common
where and how crypto and AI intersect
whether the elites are right about AI
how AI is already more empathetic than most doctors 👀

… and a lot more.

It’s a fascinating conversation I highly recommend.

You should be stocked for a weekend full of AI learning. Enjoy 🤖

🐦 A couple of Tweets we found interesting

The best of the bird

/1 The AI era is upon us. GPT-3 makes it clear: we will achieve AGI in our lifetimes.
Crypto will have a big role to play in this.
Why? Because crypto changes the API of money, decoupling *money* from *people*.
In the age of AI, this will matter more than ever. 🧵 👇
— Haseeb ＞|＜ (@hosseeb)
12:00 AM • Jan 9, 2023

Ever since @BlackRock's filing put the 'inevitability' in the Bitcoin spot ETF, the consensus trade has been the @Grayscale $GBTC arb.
But the non-mid curve trade was/is an $ETHE conversion - i.e. an $ETH spot ETF being a second order effect of a $BTC spot ETF approval.
Recent… twitter.com/i/web/status/1…
— Lewis Harland (@_LewisHarland_)
8:39 AM • Sep 7, 2023

All bitcoin ETF applications should be approved at the same time.
It will kick start a multi-trillion dollar bull market and the free market can figure out the winners and losers.
Enjoyed this conversation with @LizClaman on Fox Business today.
— Pomp 🌪 (@APompliano)
9:20 PM • Sep 6, 2023

As promised, here's my Solana thesis (5-10 min read)
The opportunity is similar to that of FB in 2011 -- it's asymmetric upside is overlooked
I'm shed some light and provide insight into why
And if you think I'm absolutely wrong, I dare you to tell me why -- lets debate
— jay (@0xjaypeg)
9:04 PM • Aug 18, 2023

Solana at ~0.01 eth is the equivalent of 2023 macbook pros being sold for $50
— jay (@0xjaypeg)
2:47 AM • Sep 2, 2023

The thing to remember is this:
when the bull does return, it does not come meek and quiet. It comes w staggering violence...
pace is so bewildering it leaves you paralyzed as tokens double every few weeks (if not days) -- see a random example below
1/2
— redphone ☎️🧙🏻‍♂️ (@redphonecrypto)
8:30 PM • Aug 31, 2023

Basic investment thesis for the 2020's:
We're at the end of a big debt cycle, and governments will continue to debase currencies to pay off debt in nominal terms.
Finite assets that can't be seized or debased will perform best over the long-run. E.g. #Bitcoin (+342% since… twitter.com/i/web/status/1…
— Stack Hodler (@stackhodler)
7:39 AM • Sep 7, 2023