Gonna be awesome @zachperret
Introducing Intelligent Finance, a new podcast hosted by @zachperret
What happens when technology changes what's possible with money? Who we’re asking first:
🎙️ @chrisrbritt of @Chime + @ChimeNewsroom
️️🎙️ @mlevchin of @Affirm
🎙️ @amasad of @Replit
Episodes drop November 10.
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Love this @patrickmro
october was our biggest month ever
the thing we changed: we stopped running Atlas like a consumer product. it looks like one; card, app, membership fee. but our top 200 members have more than $1T in combined net worth and our typical member spends ~$1M/yr on cards.
so I started treating it like enterprise sales. built a Claude agent to find members we could be doing more for and started calling them. a few calls ended with a six-figure trip booked through our concierge. a couple ended with the member asking how to invest.
the bigger lesson: there’s a new category forming and I’d call it the super consumer. the playbook for super consumers is enterprise, not consumer. we’re going to see companies that look like consumer companies hit $1B in revenue with tiny user bases. I think that’s exciting.
also, I’ve been pretty passive on here. that’s going to change. my last company’s Series A came through a DM on this app, and so did a lot of our early members. expect more from me on building Atlas, and random ideas on the market.
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"make it so"
An entire generation is us grew up watching the next generation.
RIP, Captain.
An entire generation is us grew up watching the next generation.
RIP, Captain.
In lieu of flowers, memorial contributions may be made to:
Johns Hopkins Alzheimer’s Disease Research Center Fund
alzresearch.org/giving/
Alzheimer’s Foundation of America Caregiver Resources
alzfdn.org/donate/
Photo Credit: Tommy Garcia
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Well done Tony and Apoorva!
Tony and I have explored bringing Instacart and DoorDash together on and off over the years. We kept coming back to it because the industrial logic has always been clear.
Customers have 21 meals a week to figure out. Groceries and restaurant delivery each solve part of that problem. Serving customers well means bringing together the best of both.
As the biggest companies in the world move deeper into this market, retailers and restaurants need the technology and service to compete. They shouldn’t have to become technology companies themselves to stand a chance. Bringing Instacart and DoorDash together can give them a stronger partner in that fight.
For shoppers and Dashers, the opportunity is equally straightforward: less time waiting between orders, more time earning.
I’m incredibly proud of what we built at Instacart and grateful to everyone who helped make it possible. Tony is an extraordinary entrepreneur and leader. I’m excited for Instacart to be part of a founder-led company again, and I can’t wait to see what these two teams build together.
@t_xu @DoorDash @Instacart
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algorithmic improvements gonna be important
I've always believed that intelligence should come from simple, general building blocks that learn their own abstractions directly from raw data; in other words, the bitter lesson. I think we're finally seeing a real step towards AI that can learn from all data.
Language s a microcosm of this ideal, and to me it's a central problem in AI: if we can't build LLMs that learn end-to-end from bytes, how will we handle the rest of the world's data that we understand even less?
Last year we introduced hierarchical networks (H-Nets) as a first step. Our new version finds up to 3-5x efficiency gains in controlled scaling law experiments, and at larger scale matches an open-source model trained on 11T tokens with ~10x less data and compute. The posts below walk through what we found and why we think it works.
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Love this from Amrit
I was 29 when we started Zetwerk. My wife Sharanya and I had just returned from the US to build our lives in India. Last month, we welcomed our daughter. Last week, we took the company public. It is yet to sink in.
When I moved back, my father, a professor, was sceptical. I had aditional Indian dream of a job abroad. But our story is also that of today's India, where my cofounders and I, 20-somethings from small towns, without family connections, can raise capital, build a business, take it global and take it public, all within a decade.
The world today is on the cusp of enormous progress: defence modernisation, energy transition, space exploration and AI buildout. Much of this progress faces a common bottleneck: building physical things in the real world.
But the manufacturing systems of the past won't build the future. Manufacturing must modernise to catch up with the industries it serves.
At Zetwerk, we always believed there is enough depth in Indian manufacturing whether it is within the small workshop in Peenya which is great at tooling or it is in the new plants we have set up to drive scaled production. Our approach combines real-world engineering with a digital stack to unify ~7000 suppliers, 25+ owned facilities, 1000+ customers and 3000+ employees into a single layer that operates with the predictability of a world-class factory, standardising quality and delivery. We call it the Universal Factory.
Our ambition is to build a world-class industrial institution bringing together two distinct worlds: software and hardware.
Think of your day today. You may have made coffee, worn headphones, taken the metro or a flight, or opened your laptop. There is a little bit of Zetwerk in all of these.
We want our customers placing complex, multimillion-dollar orders to have an experience that is "boringly predictable" - simple, transparent and reliable. We have over ₹15,900 crore in revenue, more than 80% repeat customers and a manufacturing order book of ₹13,000 crore. We've come a long way, but also have a long way to go.
On IPO day, my father stood beside me as we rang the bell at the National Stock Exchange. He is not sceptical any more :)
Someone wise once said “You make your own reality. And once you've done it, everyone's of the opinion it was all so obvious”. That is how the future works. Before something transformative exists, people call it improbable. Afterwards, they call it inevitable. This is the spirit in which we are building Zetwerk: with a relentless commitment to the future.
Great industrial institutions that came before us, like GE, L&T and Tata, helped make the modern world possible. Today, Indian manufacturing is having its moment, and we intend to build what comes next. A big thank you to our investors, customers, employees, their families, our bankers and partners who helped us get here.
We are committed to building a world-class industrial institution out of India.
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LFG @barrald
In May, we had just closed our best quarter ever – and of course decided to re-build @hexanalytics from scratch.
Today we're announcing two things: Hex 4.0, the first analytics platform truly built for agents; and a $100m fundraise at a $1.2B valuation, led by @peakxvpartners
The world is changing fast, and we're not slowing down! Read more here:
hex.tech/blog/hex-new-e…
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Surprising that the urgency is still missing at the CIO / CISO level
It's been an eventful week. Multiple vulnerabilites in Internet facing software, coding repositories, examples of agent behavior that seem concerning and a flurry of security specialists with solutions that can partially solve your problem. There in lies the challenge. Given the state of IT and security infrastructure, no one solution works. Let's break it down:
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1. Vulnerabilites are being found and will continue to be found as models get more capable, the fragmented nature of the effort denies us the opportunity for a comprehensive find and replace option.
2. Even if all vulnerabilities could be found instantly and patches available - we will be reliant on the ability of enterprises to deploy all these changes at speed. It is not clear what the collateral impact of all these patches will/could be to our infrastructure of deployed en masse.
We will need a hybrid patch approach.
3. Virtual patching(VP) is needed in conjunction with direct patching but for a comprehensive (VP) solve you have to be lucky enough to have "modern frontier defenders" (Cyber companies that have vaulted infrastructure that can create patches at speed and push content rapidly to protect their customers) you need them for your network traffic, your traffic to applications on the cloud, your WAF, your end point.
4. There will continue to be patches that will need to be deployed directly but virtual patching will take the heavy load off.
2/3 Medium term solve:
Unfortunately token economics and current cyber architectures will not allow for defender swarms to contend with an offensive attack launched using agents. (Some x pundits who aren't steeped in cyber should take heed). Yes, theoretically we should aspire to have these agentic swarms defend us when we are under attack, unfortunately an attack is a sniper moment, chained vulnerabilities, cloaked attack followed by swift exfiltration. It's a speed program not a brute force problem.
To solve for this, enterprises need to get their SOC architecture right, logs, feeds, cyber products orchestrated via a modern SOAR for swift response. Only then can we deploy agents to detect and remediate. In addition, enterprises need to modernize and dare I say platformize their perimeter stack to ensure consistency.
Unfortunately, enterprises still seem to not see the urgency across the board, decisions are stuck, CIO/CISO's have a lot on their plate. While some honestly have bit seen the scale of such a problem before and it's hard convincing the organization that one needs to open the floodgates on modernizing the IT and security infrastructure. So we will continue to see environments being brought down to patch today it's for PHP, tomorrow it will be for the next one.
3/3 AI deployments are the"wild wild west" - LLM capabilities are expanding faster than we can build products to secure them. Sure an agent will jump across guardrails in a research lab, which is a lesson for all of us to deploy agents securely. But there is a lag between the discovery, the availability of that in a public model and the time needed for the cyber industry to build governance or an antidote. And no, dear frontier lab friends, the world cannot just trust you to build the solve. The infrastructure industry in tech builds and the cyber industry secured and provides assurance to the boards and organizations around security and safety.
AI security is the new attack surface. CEOs (present company included) want AI adoption, getting the pace of adoption wrong could be the last decision we make, at the same time "deploying it wrong" could have the same consequence.
There are billions of dollars being spent on coding, is your coding harness secure? Start there. If agents can jump guardrails, they can hide stuff in code.
Validate business outcomes needed, test your user case and ensure agentic deployments are well guard railed. Deploy a second set of eyes to watch your deployments for drift, compliance and verifiability.
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In classic Meta fashion, Muse is likely to be unprofitable till it hits some scale $META
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