Andrea Mach retweeted
Talked with someone in the know about SpaceX / xAI construction roadmap last week.
I am now convinced they will single-handedly accelerate 10x the US infrastructure building capabilities, through aggressive vertical integration + applying Elon's algorithm.
It just makes sense:
> data centers
> rockets and satellites factories
> launch towers
> LNG/LOX production plants and pipelines
> space data centers factories
> eventually, lunar and martian infrastructure
Construction will become one of their biggest competitive advantages, and they'll become the best construction company in the world.
They'll also deploy compute faster and more efficiently than anyone else, and rent out inference to the model makers.
I don't know if this means they will also win on models, but Elon will definitely try. Him who controls the weights controls the culture.
Interesting times. Lfg 🇺🇸
I am now convinced they will single-handedly accelerate 10x the US infrastructure building capabilities, through aggressive vertical integration + applying Elon's algorithm.
It just makes sense:
> data centers
> rockets and satellites factories
> launch towers
> LNG/LOX production plants and pipelines
> space data centers factories
> eventually, lunar and martian infrastructure
Construction will become one of their biggest competitive advantages, and they'll become the best construction company in the world.
They'll also deploy compute faster and more efficiently than anyone else, and rent out inference to the model makers.
I don't know if this means they will also win on models, but Elon will definitely try. Him who controls the weights controls the culture.
Interesting times. Lfg 🇺🇸
Capital Expenditure (capex)
The global economy is $128 trillion
Global capital expenditure (capex) is $28.5 trillion
By sector, global capex looks like this…
1. $3.9 trillion - Manufacturing, all industries
2. $3.6 trillion - Residential property
3. $2.6 trillion - y
4. $1.5 trillion - Electricity infrastructure
5. $1.4 trillion - Transport infrastructure
6. $1.1 trillion - Oil and gas
7. $950 billion - *DATA CENTERS & COMPUTE*
8. $750 billion - Defense
9. $620 billion - Healthcare and education
10. $300 billion - Telecoms
11. $250 billion - Water infrastructure
12. $200 billion - *SEMICONDUCTOR FABS*
[…]
The capital structure that underpins the above capex shortlist varies materially by sector, because the assets are fundamentally different in financial terms.
What matters is their;
• Asset life / duration, it can vary from 3yrs to 50yrs
• Cash flow forecastability, oil & gas is volatile, rent less so.
• Residual value, highly specialized assets are harder to resell
Capex is capitalised with a combination of debt and equity, what matters for pricing the capital is the combination of these things (there’s other stuff but I’m simplifying).
Global capex is about 50% funded by loans and debt instruments, and 50% equity.
What is happening with data centers has nothing to do with global liquidity, which is frankly vast and would like a lot more big projects to originate.
The issue is that a lot of data center projects are delayed or overrunning. Execution is what matters, you must hit the cash requirement milestones. Many are not. The build out is made up of myriad construction projects that compete for the same land and suppliers. Much of the debt financing comes from the same few pools and those pools have reached the point where the marginal loan is net negative to the value of the pool.
It seems that if the economy has to build more than $800bn of data centers in US, then projects start tripping over each other.
This is a major problem, because capex was forecast to hit $2 trillion by 2028 but the construction industry seemingly struggles to deliver that level of site development.
What lenders want and compute operators need is a non-competing supply chain that can deploy data center capacity. A supply chain that is not competing to buy the same powered land, plant equipment and diggers, something that isn’t built out in concrete and grid connections.
The available investment capital and lending is actually greater than ever, and increasing, it’s just looking for another deployment channel, because powered land is stuffed.
Capital is readily available but bankable delivery capacity is what is scarce.
An alternative industrial supply chain (alternative to powered land) can massively expand the set of financeable projects, reduce delivery bottlenecks and make completion more predictable.
Such opportunities exist, and they are able to absorb the stranded $1 trillion capex, and have the delivery capacity to scale well beyond powered land.
What is required… is to make those new channels bankable. Asset financing precedent and mature liability and underwriting contract law all help here, along with actually building and qualifying the delivery capacity channel.
But this is what 2027 is going to be all about without people actually describing it as this.
Construction industry prices will likely rise, but this is somewhat a case of ‘nine women cannot have a baby in a month’. So there’s likely some market dislocations coming as major capital pools move to stand up the new bankable deployment capacity and get funds deployed into the most lucrative part of the economy.
Interesting times!
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Andrea Mach retweeted
Build your own platform on Whop API
This month, the Platforms team welcomed four new team members across sales and engineering, while active sub-accounts grew to ATHs (+64% MoM).
I am looking for someone to lead a focus into 1/ gaming and 2/ fashion marketplaces/platforms.
My DMs are always open, and personal cell is 2073292770.
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Andrea Mach retweeted
Whop v4.0 is officially live ✨
To date, Whop has made 100+ millionaires and is now generating creators more than $1B / year.
Our $350K keynote did not represent internet culture we come from.
Money doesn’t create greatness.
You just need grit, creativity, and a lot of crazy.
To date, Whop has made 100+ millionaires and is now generating creators more than $1B / year.
Our $350K keynote did not represent internet culture we come from.
Money doesn’t create greatness.
You just need grit, creativity, and a lot of crazy.
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Andrea Mach retweeted
Whop has raised $200M in Series D funding at a $5.1B valuation, backed by @sequoia and @Shopify.
It really feels like we are barely touching the tip of the iceberg in a market larger than anyone can imagine.
We first launched Whop as a better way for us to sell sneaker bots, ypes of desktop software out there.
Total TAM? Probably $20,000 per day.
Who cares, tiny market.
But, what people discounted is the idea that there were actually 70,000 other markets exactly like that one.
Beyond the investment itself, I am especially excited to welcome legendary silicon valley investor @dougleone to our board of directors. Doug and the sequoia team are nothing but a brilliant, resourceful, and principled group of people.
My co-founder Cameron and I started building on Shopify when we were 13 years old. Shopify is one of the most impactful all-in-one cloud ecosystems ever created; @tobi has pioneered modern entrepreneurship the way we know it and we are thrilled to have him in our corner.
We have a tenet at Whop to be the dumbest in the room and I am very grateful that this has recently become a lot easier.
We are focused on markets, scale economies, and progressive media. If that is up your alley, please message me directly.
The $200M raised will support our expansion as we build economic infrastructure for the next century, continuing on our mission of delivering everyone an income.
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Andrea Mach retweeted
>me and lil bro, 2067
>bro is 9
>runs 8 whop businesses
>that's below average for his age
>mom worries about him
>we go to the supermarket
>the supermarket is a whop
>every aisle is a connected account
>the cereal aisle has its own support channel
>checkout
>bro taps whop pay with his whop card
>cashier is his customer
>he's her customer
>money goes in a circle and somehow everyone gets richer
>economists still can't explain it
>drive home
>the road is a whop
>members get the fast lane
>pass the hospital
>4.9 stars, 30 day refund policy
>pass the school
>school is a whop course
>bro dropped out to teach it
>get home, turn on the news
>Fed announces interest rates will now be set by whop's economic intelligence
>markets up 4%
>US stops reporting GDP, switches to GMV
>Mars colony launches its first whop
>it sells tours of Earth and lil bro is the top affiliate
>bedtime
>bro asks how it all started
>tell him back in 2026 some company raised $200M
>everyone called it a discord payments website
>he falls asleep
>his businesses don't
>mfw the entire economy is just whop businesses buying from each other
>bro is 9
>runs 8 whop businesses
>that's below average for his age
>mom worries about him
>we go to the supermarket
>the supermarket is a whop
>every aisle is a connected account
>the cereal aisle has its own support channel
>checkout
>bro taps whop pay with his whop card
>cashier is his customer
>he's her customer
>money goes in a circle and somehow everyone gets richer
>economists still can't explain it
>drive home
>the road is a whop
>members get the fast lane
>pass the hospital
>4.9 stars, 30 day refund policy
>pass the school
>school is a whop course
>bro dropped out to teach it
>get home, turn on the news
>Fed announces interest rates will now be set by whop's economic intelligence
>markets up 4%
>US stops reporting GDP, switches to GMV
>Mars colony launches its first whop
>it sells tours of Earth and lil bro is the top affiliate
>bedtime
>bro asks how it all started
>tell him back in 2026 some company raised $200M
>everyone called it a discord payments website
>he falls asleep
>his businesses don't
>mfw the entire economy is just whop businesses buying from each other
Whop has raised $200M in Series D funding at a $5.1B valuation, backed by @sequoia and @Shopify.
It really feels like we are barely touching the tip of the iceberg in a market larger than anyone can imagine.
We first launched Whop as a better way for us to sell sneaker bots, ypes of desktop software out there.
Total TAM? Probably $20,000 per day.
Who cares, tiny market.
But, what people discounted is the idea that there were actually 70,000 other markets exactly like that one.
Beyond the investment itself, I am especially excited to welcome legendary silicon valley investor @dougleone to our board of directors. Doug and the sequoia team are nothing but a brilliant, resourceful, and principled group of people.
My co-founder Cameron and I started building on Shopify when we were 13 years old. Shopify is one of the most impactful all-in-one cloud ecosystems ever created; @tobi has pioneered modern entrepreneurship the way we know it and we are thrilled to have him in our corner.
We have a tenet at Whop to be the dumbest in the room and I am very grateful that this has recently become a lot easier.
We are focused on markets, scale economies, and progressive media. If that is up your alley, please message me directly.
The $200M raised will support our expansion as we build economic infrastructure for the next century, continuing on our mission of delivering everyone an income.
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Andrea Mach retweeted
To me Whop still feels like seed stage even though it’s making a lot of money
Feels still underrated by the mkt that the most ambitious young ppl will do their own thing. And building a network for that will eventually make sense to everyone
Feels still underrated by the mkt that the most ambitious young ppl will do their own thing. And building a network for that will eventually make sense to everyone
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Andrea Mach retweeted
I'm excited to announce Anti Fund was an early investor in Whop. The boys are crushing it.
Whop is revitalizing the American Dream.
Whop is revitalizing the American Dream.
Whop has raised $200M in Series D funding at a $5.1B valuation, backed by @sequoia and @Shopify.
It really feels like we are barely touching the tip of the iceberg in a market larger than anyone can imagine.
We first launched Whop as a better way for us to sell sneaker bots, ypes of desktop software out there.
Total TAM? Probably $20,000 per day.
Who cares, tiny market.
But, what people discounted is the idea that there were actually 70,000 other markets exactly like that one.
Beyond the investment itself, I am especially excited to welcome legendary silicon valley investor @dougleone to our board of directors. Doug and the sequoia team are nothing but a brilliant, resourceful, and principled group of people.
My co-founder Cameron and I started building on Shopify when we were 13 years old. Shopify is one of the most impactful all-in-one cloud ecosystems ever created; @tobi has pioneered modern entrepreneurship the way we know it and we are thrilled to have him in our corner.
We have a tenet at Whop to be the dumbest in the room and I am very grateful that this has recently become a lot easier.
We are focused on markets, scale economies, and progressive media. If that is up your alley, please message me directly.
The $200M raised will support our expansion as we build economic infrastructure for the next century, continuing on our mission of delivering everyone an income.
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Andrea Mach retweeted
Our mission is to deliver everyone a sustainable income.
We will not stop until there are billions of people earning on Whop.
Shoutout to everyone who has made this possible, from the earliest sneaker botters to the tens of thousands of entrepreneurs building on Whop today 🫡
We will not stop until there are billions of people earning on Whop.
Shoutout to everyone who has made this possible, from the earliest sneaker botters to the tens of thousands of entrepreneurs building on Whop today 🫡
Whop has raised $200M in Series D funding at a $5.1B valuation, backed by @sequoia and @Shopify.
It really feels like we are barely touching the tip of the iceberg in a market larger than anyone can imagine.
We first launched Whop as a better way for us to sell sneaker bots, ypes of desktop software out there.
Total TAM? Probably $20,000 per day.
Who cares, tiny market.
But, what people discounted is the idea that there were actually 70,000 other markets exactly like that one.
Beyond the investment itself, I am especially excited to welcome legendary silicon valley investor @dougleone to our board of directors. Doug and the sequoia team are nothing but a brilliant, resourceful, and principled group of people.
My co-founder Cameron and I started building on Shopify when we were 13 years old. Shopify is one of the most impactful all-in-one cloud ecosystems ever created; @tobi has pioneered modern entrepreneurship the way we know it and we are thrilled to have him in our corner.
We have a tenet at Whop to be the dumbest in the room and I am very grateful that this has recently become a lot easier.
We are focused on markets, scale economies, and progressive media. If that is up your alley, please message me directly.
The $200M raised will support our expansion as we build economic infrastructure for the next century, continuing on our mission of delivering everyone an income.
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History in the making!
Whop has raised $200M in Series D funding at a $5.1B valuation, backed by @sequoia and @Shopify.
It really feels like we are barely touching the tip of the iceberg in a market larger than anyone can imagine.
We first launched Whop as a better way for us to sell sneaker bots, ypes of desktop software out there.
Total TAM? Probably $20,000 per day.
Who cares, tiny market.
But, what people discounted is the idea that there were actually 70,000 other markets exactly like that one.
Beyond the investment itself, I am especially excited to welcome legendary silicon valley investor @dougleone to our board of directors. Doug and the sequoia team are nothing but a brilliant, resourceful, and principled group of people.
My co-founder Cameron and I started building on Shopify when we were 13 years old. Shopify is one of the most impactful all-in-one cloud ecosystems ever created; @tobi has pioneered modern entrepreneurship the way we know it and we are thrilled to have him in our corner.
We have a tenet at Whop to be the dumbest in the room and I am very grateful that this has recently become a lot easier.
We are focused on markets, scale economies, and progressive media. If that is up your alley, please message me directly.
The $200M raised will support our expansion as we build economic infrastructure for the next century, continuing on our mission of delivering everyone an income.
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Andrea Mach retweeted
This is total nonsense.
We're one of the largest early investors in Polymarket, and this story that Shayne was "caught red-handed" using company money is just a flat out garbage hit piece.
Shayne wasn't taking a salary. He was 21 when he started Polymarket, he was living he company out of his apartment, barely making ends meet when he was raising his seed round. We were his first term sheet and literally offered to loan him money personally, but he ended up not needing it when the seed round came together.
After COVID and the crazy Biden-era crackdown on crypto that was happening at the time, there was a lot of chaos in almost every company in the industry. As an investor, we saw a lot of companies go through pandemic-era startup craziness, and Polymarket was no exception.
But Shayne disclosed every dollar he spent, which turned out to annualize to about a software engineer's salary. That's including the flights, none of which were personal flights. Plus, SHAYNE STARTED the accounting and payback process, no one “found” it. In aggregate, it was nothing that an investor would balk at. He paid it back to the company in full, and then got on a normal salary like everyone else.
It was an accounting problem, not an integrity problem. It was not a big deal.
Polymarket has had growing pains, no doubt. It went from a small fledging startups to one of the most explosive consumer brands in America. But Shayne has leveled up alongside the company, and as investors we have total confidence in him.
Enough of this stupid FUD.
The end.
We're one of the largest early investors in Polymarket, and this story that Shayne was "caught red-handed" using company money is just a flat out garbage hit piece.
Shayne wasn't taking a salary. He was 21 when he started Polymarket, he was living he company out of his apartment, barely making ends meet when he was raising his seed round. We were his first term sheet and literally offered to loan him money personally, but he ended up not needing it when the seed round came together.
After COVID and the crazy Biden-era crackdown on crypto that was happening at the time, there was a lot of chaos in almost every company in the industry. As an investor, we saw a lot of companies go through pandemic-era startup craziness, and Polymarket was no exception.
But Shayne disclosed every dollar he spent, which turned out to annualize to about a software engineer's salary. That's including the flights, none of which were personal flights. Plus, SHAYNE STARTED the accounting and payback process, no one “found” it. In aggregate, it was nothing that an investor would balk at. He paid it back to the company in full, and then got on a normal salary like everyone else.
It was an accounting problem, not an integrity problem. It was not a big deal.
Polymarket has had growing pains, no doubt. It went from a small fledging startups to one of the most explosive consumer brands in America. But Shayne has leveled up alongside the company, and as investors we have total confidence in him.
Enough of this stupid FUD.
The end.
🚨 BREAKING : Polymarket CEO Shayne Coplan caught using COMPANY MONEY for Private Jets flights.
Peter Thiel caught him red-handed using his investment money as a personal wallet.
Founders Fund, Peter Thiel's fund, discovered that Shayne had charged the following as company et flights
- apartment rent
- designer clothes
They immediately demanded a FULL REFUND
Shayne was forced to reimburse the money.
ICE and Founders Fund then teamed up to push for stronger financial controls
They were the one that forced Shayne to appoint a COO.
You remember Shayne's ChatGPT written tweet gleefully announcing the hiring of Collin McKinney Hill as COO ?
I called it extremely suspicious at the time. Turns out i was right, investors basically forced Shayne to hire him as a soft coup.
I don't know how long Shayne can stay in place when their main investors have lost confidence.
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Andrea Mach retweeted
Based16z shares his advice for young people looking to achieve financial freedom
“I've been spending a lot of time right now working on Whop. I think that's really interesting and also embodies a lot of how you might describe the set of options for someone with the goal of economic sense”
“I think that's a goal for a lot of people and was definitely a goal for me, to get my own economic freedom because I always felt somewhat hamstrung by it”
“My parents could be like, ‘Hey, you can't do this. We're not going to support this or we can't afford this,’ or whatever”
“If you have that as a goal then I think it's good to not go into a traditional job and try to do something on the internet for yourself and build equity in it or build skill in it or build specific knowledge”
“What that is, is just so changing and I'm probably too old even to understand what the coolest one is. Maybe it's building Roblox games now right? There's some kids going insane on that”
“Part of the Whop thesis is just like hey the smartest and most motivated people in the world are going to try to figure out their own things to do and it's going to be ever changing and an ever evolving meta”
“It's even beyond crypto. I wouldn't tell someone, ‘Hey, go into crypto trading.’ If you had a real passion for that, I'm sure you can still do well starting from nothing”
“You can make it doing anything as long as you love it”
“You gotta work on something that's interesting to you, that's working for yourself, that's probably a little bit new and is hard to explain to old people and that you're going to have fun with”
“I've been spending a lot of time right now working on Whop. I think that's really interesting and also embodies a lot of how you might describe the set of options for someone with the goal of economic sense”
“I think that's a goal for a lot of people and was definitely a goal for me, to get my own economic freedom because I always felt somewhat hamstrung by it”
“My parents could be like, ‘Hey, you can't do this. We're not going to support this or we can't afford this,’ or whatever”
“If you have that as a goal then I think it's good to not go into a traditional job and try to do something on the internet for yourself and build equity in it or build skill in it or build specific knowledge”
“What that is, is just so changing and I'm probably too old even to understand what the coolest one is. Maybe it's building Roblox games now right? There's some kids going insane on that”
“Part of the Whop thesis is just like hey the smartest and most motivated people in the world are going to try to figure out their own things to do and it's going to be ever changing and an ever evolving meta”
“It's even beyond crypto. I wouldn't tell someone, ‘Hey, go into crypto trading.’ If you had a real passion for that, I'm sure you can still do well starting from nothing”
“You can make it doing anything as long as you love it”
“You gotta work on something that's interesting to you, that's working for yourself, that's probably a little bit new and is hard to explain to old people and that you're going to have fun with”
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