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Britney's online persona: ultra wealthy heiress, rubbing shoulders with celebrities in China and the US, poker is just a fun hobby where she splashes money around, private jets and A-list friends are just another Tuesday for her. The reality: barely educated, fake boobs, fake boss. Her actual income comes from running private games, taking pieces of players, and raking the pot.

Chamath explains the political calculus behind Obama’s anti AI speech “This is a very important moment for a very simple reason, which is that the world is about to endow 3-6 companies with about $10 trillion of wealth.” “And what Obama knows very well is that most of those companies are overwhelmingly left leaning. And what he also knows is that there is a huge portion of that money that will then get put into philanthropic and charitable causes that then he and the people around him will be beneficiaries of." “That is the truth. We already know this because we know that some of these frontier corporations actually ask you to sign up DAFTs and have a portion of your stock that you're willing to pledge. So this money is going to go to things other than consumption or savings. It's going to go into PACs, it's going to go into political movements, and they stand to disproportionately benefit." “So this has nothing to do with prosperity. This is a very simple political calculus. If you freeze frame the economy the way it is today, a handful of organizations that will disproportionately be able to affect the Democrats will win, they will capture the lion's share of the economic gains. And then they will help the Democrats win power. That's all this is."

《一笔交易，四份回馈：盲盒 + 积分 + 返佣 + 头像机会》 最近才发现，之前零撸大毛的 SoSoValue 团队，也正式下场做 Perp 赛道了——@sodex_official 我最近体验了不少 Perp 项目，大部分仍以积分激励为主，但随着项目越来越多，积分预期也在不断被稀释，单纯依靠积分已经很难吸引用户长期参与 SoDEX 这次的玩法更有意思：一次交易，可以同时叠加多重回馈： ① Treasure Box 盲盒 ② SoPoints 早期贡献积分 ③ 手续费与积分返佣 ④ Avatar NFT 掉落机会 其中最值得关注的是盲盒和头像 NFT 在 SoDEX 每累计完成 10,000 U 有效交易量，就能获得 1 个盲盒，用我的邀请链接注册，首次累计完成 10,000 U 有效交易量，可以获得正常交易盲盒 + 1 个 Common 新人盲盒，一共 2 个 盲盒分为 Common、Uncommon、Rare 和 Superrare 四个等级，低等级盲盒还能通过合成升级： • 10 Common → 1 Uncommon • 10 Uncommon → 1 Rare • 4 Rare → 1 Superrare 开盒奖励最低 1 U、最高 10,000 U 等值，但发放的不是现金，而是可以继续持有的 Wealth 理财资产，首期为 QQQ 代币化资产 每次开盒还有机会额外掉落 Avatar NFT，并且不影响原本的资产奖励，头像 NFT 初始掉率为 5%，全平台每开出 1,000 个，掉落概率就会减半：5% → 2.5% → 1.25%…… 头像支持自由转让和交易，越往后获取难度越高。这种递减机制，也让早期参与更有收藏意义 积分可能会被稀释，但盲盒奖励和头像 NFT 是可以直接拿到手的。相比只有积分预期的玩法，SoDEX 这套激励明显更好 活动规则： 邀请链接： #SoDEXTreasureBox#

JUST IN: 🇨🇳 China political advisory body CPPCC member announces he "believes Bitcoin" can attract lots of wealth and innovators to Hong Kong 👀 "I believe that Bitcoin is one of the really good synergies...to attract more funds in our domains."

⚡️The early Bitcoin holder may be one of the cleanest wealth outcomes capitalism can produce. Think about what happened to the rare person who accumulated meaningful Bitcoin very early and actually held it. They did not need to build a 10,000-person company. They did not need customers. They did not need employees. They did not need a board. They did not need to manage LP money. They did not need to continually recreate the economic engine that made them wealthy. They made one extraordinarily consequential capital-allocation decision, survived years of uncertainty, and eventually the asset itself did almost all of the scaling. That is an incredible lifestyle outcome. A founder worth $100M may technically have the same net worth, but much of it can be trapped inside a company requiring their attention, carrying payroll, lawsuits, competition, customers, executives, financing, and constant strategic decisions. The early Bitcoin holder can have $100M sitting in an asset that requires almost no organizational complexity to own. Enormous wealth. Tiny operating surface area. That combination is rare. There is also something profound about how the wealth was created. They recognized a new category before the world agreed the category was real. The wealth came from carrying uncertainty. Bitcoin looked ridiculous. Then dangerous. Then speculative. Then legitimate. Then institutional. Every step upward removed uncertainty while also removing asymmetry. The earliest holders were compensated for occupying the period when the world could still plausibly say the entire thing was worthless. But survivorship bias here is enormous. Thousands of people also concentrated into things they believed were revolutionary and lost everything. Even among people who bought Bitcoin early, many sold at 2x, 5x, 10x, or 50x. Others lost keys. Others got destroyed by exchanges. Others overleveraged. Others simply could not psychologically carry an asset through repeated 70% to 90% drawdowns while everyone around them told them they were insane. So the extraordinary outcome required several things to happen together: see correctly very early, size enough for being right to matter, survive enormous volatility, preserve custody, and resist selling when the gain already looked life-changing. That is almost impossibly difficult in real time. The highest form of wealth creation may actually be finding a very small number of generational capital-allocation decisions rather than continually maximizing labor output. One Bitcoin-like decision can compress decades of economic effort into ownership of the right thing at the right moment. Afterward, the entire purpose of wealth can change. You no longer need to optimize for more work. You can optimize for autonomy. Time. Privacy. Research. Relationships. Travel. Building things because they matter to you rather than because they need to pay you. And compared with becoming a billionaire CEO whose phone can never truly be turned off, the anonymous person who quietly owns enormous permanent capital may have won a different and arguably more valuable game. The founder builds a machine powerful enough to create freedom later. The generational investor finds an asset powerful enough to make the machine unnecessary. That second outcome is incredibly rare. But when it happens, the lifestyle asymmetry is almost absurd.

Why do so many high earners feel broke? At 26, I landed a job as an option trader and earning above the average salary. At the same time, I was also broke! I felt rich on payday and anxious by the 20th and I couldn’t have told you why. I didn’t know my real fixed costs. I didn’t know how long I’d last if the income stopped. I didn’t know my saving rate, at all. As @morganhousel said: building wealth has little to do with your income or investment returns, and lots to do with your saving rate. Higher earner but broke? It’s not an income problem, it’s a clarity problem.

🚨David Friedberg predicts the path to “Comrade AOC,” national asset seizures, and data centers becoming the next target. “They enact policy starting in 2028 with Comrade AOC in charge… costs balloon, the bond market sells off… and now the 30-year yield spikes 7%, 8%, maybe more.” Higher rates make housing even less affordable. Then the government needs more money. “So now we need to pass a national asset seizure tax.” But there isn’t enough wealth at the top. “The total net worth of all people that are worth over $50 million is only $23 trillion.” @DavidSacks points to a Cato estimate putting nine DSA-style proposals at $71 TRILLION to $212 TRILLION over 10 years. The entire Forbes 400 is worth just $6.6 trillion. Eventually, Friedberg argues, you run out of billionaires to tax and move toward confiscation and scapegoating. @chamath: “The billionaires will be scapegoated, and the trillionaires will be, I mean, even worse.” Then tech becomes the target: “The data center is the temple where the billionaires and trillionaires pray.” @friedberg’s warning: massive DSA-style government spending makes the affordability crisis worse, fuels resentment, and eventually creates the political justification for national asset seizures. Full episode: @theallinpod

JUST IN: The leader of the DSA, Gustavo Gordillo, lives in a $1.5M NYC residence paid for by his millionaire parents. Socialists are all frauds. Wealth for me but not for thee.