Verstappen going from P21 to P2

Now that’s a good use of AI!

Sometimes you see a graph that stops you in your tracks

October makes September look like a rounding error 👀

Never seen anything like this in my decade as an investor…

Oxford has a clown college?

It’s remarkable that @OSFICanada and @FinanceCanada force Canadian banks to spend billions on AML practices, while turning a blind eye to the money laundering going on just across the street from said bank.

My latest column for the @TorontoStar: Unless they are made to fear homeowners or the courts, home invaders will keep home invading -

It's not that complicated.

We need to toughen Canada’s Youth Criminal Justice Act and adopt the doctrine of Castle Law.
thestar.com/opinion/star-c…

Data centers in space looking pretty appealing right now

I sometimes help early stage @YCombinator founders with fundraising advice. They often send me two drafts of an email with tiny differences in wording, asking which is better. My advise is almost always the same: It doesn’t matter.

Then I try explain some version of the diagram process, you are mainly tying to quickly identify which of the below buckets investors are in. It’s a much better use of time filtering more investors to find the right hand bucket, than agonizing over the middle bucket for hours.

Revolut: Europe's most valuable startup ($200B) just showed the world its AI strategy.

Every company will end up copying it.

At the start of this year, Revolut leaned on the frontier labs. Its 2,000 engineers used Claude Code and Codex, and some burned $1,000 to $10,000 a month imbing, and the returns weren't there.

So Revolut switched its default to an open-source model called GLM. All it needs is GPUs, which it rents from Together AI.

The results, by Revolut's own count:

- The bill is about a tenth of what it paid OpenAI and Anthropic
- Engineers get unlimited tokens instead of spending caps
- Coding time is down 60% and lead time is down 70%

That's the chart below.

Revolut still uses Claude and GPT, but only as "the exception," for the tasks they do best. Everything else runs on open source.

So here's the question I keep coming back to: how many use cases can companies really justify sending to frontier models?

My answer is very few. Plenty of companies still route everything to OpenAI and Anthropic today. For how long?

I think open source ends up handling the vast majority of corporate AI work, and frontier models get a short list of the hardest jobs. That's a problem for labs whose revenue forecasts assume unlimited growth.

If you appreciate unpopular takes, follow me @m0xt_ for more.

The CEO of Air Canada, who did nothing wrong, but God forbid use the wrong OFFICIAL language for 10 seconds, had to resign.

But our Toronto police chief keeps holding onto his job.

That you can show up at a Toronto emergency ward with an inexplicable gunshot wound and not be held by @TorontoPolice speaks to just how ineffective @MayorOliviaChow’s woke crime strategy is:

Smith said officers did not arrest Richards while he was receiving treatment because they had not yet established reasonable grounds linking him to the home invasion.

“We don’t just go off of suspicion,” she said, explaining that investigators had established that connection through forensic work with the Centre for Forensic Science and canvassing in the community.

So I guess we should arm ourselves and hire private protection. Got it. Message received.

Poppy Centre - Package of 10

Because we have all lost them so many times. 🤣

amazon.ca/Royal-Canadian…

Contrast to before the election:

Never been a fan of governments picking winners. Relative to the last decade of federal money incinerated on projects that went nowhere, $1.6B into Cohere is almost restrained. From that view, this is a brilliant move.

💔💔

Tea, Earl Gray. Hot.

Don’t follow stupid advice like this. Many of our best deals are introduced to investment partners due to the tireless efforts of our younger investors who have both domain knowledge & great relationships.

And most of our investment partners were once junior staff.

Excited to see so many late stage rounds in Canadian tech this week!!