110 - The Singularity Stack: Energy, AI Agents, & Bitcoin Settlement with Liam Nelson

Yeah, honestly, we try to pay attention to a lot of interesting signals out there.

And right now, AI is obviously the most interesting thing in the room.

There was a chart going around yesterday, too, that OpenRouter put out around token usage.

And it was, over the past two years, it's up over 25,000%.

And that's obviously just astounding.

It's really showing just the amount of adoption that these... tools are getting and it's really fascinating too because uh like it's an investor and and um somebody who is trying to understand where the world is moving i saw a lot of similarities between like what jeff bezos was doing when he was at de shaw and saw the internet grow i think it was 2300 times um year over year, which doesn't necessarily happen.

And that's something that's free to use for any individual.

Whereas, you know, obviously tokens on open router have a cost associated with them.

And so obviously out of that, he built Amazon and, you know, Selling books online at first doesn't sound very sexy, but we understand kind of by being on the frontier that it wasn't just going to be books.

It was going to be more than that.

They were going to sell everything and obviously got into data centers out of that and have tried to build it into a massive company.

And so I think that, you know, just myself and I think a lot of people out there really are trying to understand what are the second, third, fourth order implications of AI as the cost of intelligence goes near to zero and what sort of businesses... and be built out of that.

What does that mean for my role today and in the future? And so that's kind of a little bit of the impetus of why I tried to do it, because I think that it does have just profound implications for pretty much every part of the economy.

Yeah.

And I imagine it clicked with the early writers team, the other partners right away and kind of gave you the green light to work on this.

Well, I mean, before we we get into the framework, Liam, I want to just make sure I don't miss on asking you Sometimes we, you know, we kind of go through our background and keep it concise and the transition sound pretty smooth.

But for others who are maybe going through, you know, similar career transitions or desiring to do so, I want to ask this question.

I mean, from point 72 to working at a Bitcoin firm.

It's not that easy of a transition necessarily.

So what helped you along the

way? Yeah, that's a great question and really appreciate it.

I guess, um, I was coming at it from the angle that there was a massive information asymmetry that's publicly available.

Whereas, you know, you guys put out a ton of great research and really make the information available about why Bitcoin is so important, et cetera.

But there are so many folks out there that, you know, even JP Morgan or uh jamie diamond from jp morgan says like satoshi can just come back and inflate the bitcoin supply and so with that like i understood just by speaking with a bunch of folks that there was a lot of information asymmetry and you know eventually they would come around to why bitcoin is valuable and you know would would need to allocate to it later on because economic forces would eventually get them there because, you know, they would see their savings diminish over time in real value if they didn't allocate to Bitcoin.

And so with that, I understood, you know, it makes sense to allocate to the asset itself.