My brain feels pretty scrambled at the moment. I wish I could say it was over easy but I’m clearly closer to fried than coddled at the moment. Yesterday had some big news. Valar is prepared for a long slog and that means on paper I’ve got a unicorn and a fund returner.
There’s nothing quite so satisfying as becoming big enough that instead of listing the founder and the team, they mention the celebrity investors.
It’s good that people know we have dry powder for an important mission, just as energy insecurity becomes a real concern, along with all of the cascading effects of side products and elements that are part of the hydrocarbon processing chain. Don’t worry. They’ve got a plan for nitrogen if it comes to it.
And obviously I want to brag, as do all of the other people who took a risk on this exceptional team, especially those who wrote multiple checks (we followed on three times) when it was unclear how far we could go and how fast it could be given regulatory hurdles and funding constraints. Those are now gone.
I do feel like I paid a number of social consequences for being a loud mouth and also generally being anti-consensus during the first few years. And I am glad to have paid that price. Real reward comes from real risk.
I felt we had not adequately addressed American energy independence, clean energy, renewable energy, or any of the many effects of our rampant demand for energy.
I do believe that carbon heats the planet and we have to address it in a way that meets our demands and gives us abundant supplies. I thought well how we could possibly serve it in a way that is sustainable and clean without nuclear?
And I’m as surprised as anyone that the Republicans are the ones championing this but we’re in a place where it’s very clear that we have industrial needs and a geopolitical context that require us to go much faster and invest much more deeply in the solutions that we’ve put off for so many years.
I didn’t get into technology to do some set of financial arbitrages or eke out an extra few dollars so I could have status in the world. I know it’s naive but I’m not very transactional and I do it because I think it’s the right thing to do.
We need to slowly push the markets towards funding the things that are necessary and not just the things that give extra capital to people fighting for status and power. I hope that I can look back on the work I’ve done and feel proud that I tried.
Thanks to this blog God knows I’ve got the receipts for it. We’re barely out of the first quarter. Not even confident we’re at halftime. There’s so much work to be done but I feel like I’m playing the right game.
Being old means having lived through a lot of “paradigm” shifts. There is always a trend. Consumer designer in enterprise software. Mobile first. Behavioral economics. New payment rails. Crypto native.
Things of that nature move across the baseline from exciting to standard to lawsuit to just another option in the tool box.
I began blogging early enough that I started with a friend hosting a content management system for my own domain that I primarily used through a web browser in my computer. Now I write entirely on my mobile phone.
A lot happened in between. I used microblogs and Instagram until Tumblr died and short form video rendered Instagram, TikTok, & YouTube shorts a biohazard for attention spans.
Not that I have any moral high ground here, like many geriatric millennials, I am a Twitter power user. I poast a lot. How do you think I ended up a crypto native? My fellow degenerates are now mostly grown up but we are still on Twitter.
Unpopular as the opinion may be, I think written content will always be the least destructive platform for me. Twitter is just about poasting. A place to practice bits and sharpen wire.
I like Twitter and this blog because I pretend there isn’t an audience. Influencer? Couldn’t be me. If an audience exists it’s because I’m talking out loud and when people write back so do I.
The stasis of being platform native is hard as you must always be patient enough to begin a new workflow (yes we are all playing with agents). I think it’s even harder to go back to another workflow or past form factor. I am not nostalgic for long hours on a computer screen.
I’ve mentioned it in complaints before but Substack doesn’t have a usable mobile content management system. WordPress does. Guess where I write everyday without a second thought? I have become mobile only because once it was mobile first. I’m wearing a Facebook hoodie while I write this.
Admitting that I am mobile first and that it’s the main blocker in me maintaining my beauty writing project Nice Packaging is embarrassing. I write on my phone and Substack just doesn’t support it and I’m failing in putting out a ron of content I like to make because it’s too uncomfortable to sit in front of a screen for a few hours.
Presumably I can find a work flow. I can yap into WhisperFlow and run a video application and upload whatever comes from that so long as I can figure out some automation on linking and cutting up content but it seems feasible enough.
I can’t let old habits die hard. Or maybe it’s that I need to bring back those old habits with new tools. Either way I better talk more about beauty before it embarrasses me that I’ve not managed the workflow.
I am not an early riser, especially not when I’m out late for happy hours and dinners and the like. So I wasn’t planning on being at the 8am opening for the conference I’m attending in D.C amongst all the side programming.
I had a ten thirty talk I was particular excited to listen to as it was most salient to my work in artificial intelligence policy. Well, that was a dumb decision on my part. Not to arrive earlier.
I’ll take full responsibility for being a moron on that front, but I stood amongst a gaggle of gorgeous well dressed, well groomed and bright eyed young men hungry to build the world of the future. What a crowd of young people.
Being a chatty Cathy I asked about vintage Barbour jackets, bulldog ties, pocket squares, the merits of gel versus more advanced soft hold hair products, the declining quality of Moscot eyewear and other important topics to ambitious young men who are looksmaxxing to win the great game.
I didn’t have much else to do as the line was not moving. No one was getting in. Until people left no one was getting off the line. And that included others who had already been in and had their passes. The hottest ticket in town was perhaps a bit over capacity.
Someone rolled out a portable Starlink and we all piled in to tweet, chat, roll calls and (in my case) send tweets, Signal messages, and Slack channel responses. I got told my tweet about the two hour wait wasn’t ideal so I deleted it as I appreciate any attention to me running my mouth as I assume no one ever listens to me. I barely do.
But maybe I’m wrong? Last night checking into Butterworth’s, the woman manning check-in in lit up when I gave my name “I love your Twitter!” So maybe people do notice what I say. I still find that an a funny notion.
That said, it did take the full two hours to get into the giant event hall which made all the rush and planning a laugh. More people left the line and went back to work than stayed at 10am but everyone determined to participate seemed to make the best of it.
I asked if this was normal for a DC event and no one seemed to be from DC. So I didn’t get any good answers. This was an unexpected wrinkle that the venue was full was full up as an enormous crowd circled the block twice.
Since we remainders had decided to make the best of it we got to know each rather. Every man was quite a gentleman as we chatted oblivious to status till we were let in and others let us all know the pecking order. One of the young men I spent my wait, who is I learned later was literally the heir to one of the most important fortunes on the planet. Another was launching containerized autonomous weapons.
But that time of work and waiting was rather like being on an elevator stuck together, we might as well get to know each other. We are all equal before a tough door.
Thankfully we did get into the room before Jamie Dimon spoke. And he was the big boss of the handsome executive crowd.
I titled this “all the twinks standing in line for the bathroom” as yes a lot of handsome queer men were in attendance. But twink is an all purpose gender fluid aesthetic and not reflective of anyone’s sexual preferences.
And the line for the men’s y was a lot longer than the women’s. Ten to one ratios make me think this would be quite the dating scene for the ambitious woman.
But yes there are a lot of very well groomed young men in Washington D.C and everyone wants to build solutions for America. And being beautiful doesn’t hurt. To my single lady have you consider meeting a man in DC? Good odds and I doubt even a fraction of the twinks are gay.
As I’m heading to our nation’s capital soon I am taking extra care with my “run of show“ as I’ll have more varieties of events to account for over my stay. I expect humidity and rain so that should be fun for hair and makeup. All men need to worry about is sunscreen and maybe a bit of hair gel.
Now my travel wardrobe must account for visits to historical sites, nice dinners, late night parties, internet friend meetups (see you at the Polymarket’s Monitoring the Situation bar?) and a conference that is somewhere between startup event and defense contractor conference.
If you are a woman, you are probably nodding your head and thinking well that’s at least 4 different pairs of shoes and two purses. Then there is evening wear, day blazers and skirt suits, sweaters and other mix and match separates, and heaven forbid I find time to exercise so sweats and all the undergarments.
All that packing must work with the additional run rate risks of TSA slow downs (can Congress pass a budget) while presumably needing additional care and attention to security. Given we are embroiled in a war with Israel in Iran it’s hard to count on smooth sailing. So I pack as if I will encounter unexpected difficulties. Hopefully none more irksome than long lines.
As a woman who mostly spends her time in Montana or otherwise in the middle of nowhere, you can imagine that my makeup these days has a bit more in common with tinted sunscreen than it does with a smoky eye with a cut crease let alone a full powdered contoured beat fit for television. However I’ve heard polished full makeup is the preferred look on the hill including eye makeup basics.
I’m hoping I’ll be able to rely on my skills without additional practice, but I won’t lie I did a couple dry runs on new palettes I’d picked up and a few new colors. Very little new made the cut. When traveling, rely on what is reliable.
Today has been a very gratifying day for a very strange intersecting set of reasons. You may know that I have spent several years working to pass a “right to compute” law in Montana. It was signed into law in August of 2025 by Governor Gianforte.
I was so grateful that a campaign I initiated became not only become a bipartisan policy but a law supported by many Montana citizens & legislators. Now to see it go national not only model policy for the American Legislative Exchange Council but now have a second state, New Hampshire, pass it in their house, gives me indescribable joy.
Just forty eight more states to go. Though I believe it’s going to be an uphill climb as the topic of artificial intelligence has well and truly become politicized which makes stating simple cases of shared values much harder.
Except this isn’t really about artificial intelligence. Compute is a much broader and bigger thing than AI. It’s the stuff of the modern world. But that doesn’t mean we can’t apply what we know to be core American values as the lens through which we see it. Indeed it’s crucial we do.
Last year people could easily see that this was a sensible law that reflected our American values. Because of this sensible approach “the right to compute” is a winning coalition. It was bipartisan. So naturally it became a culture war.
I urge you not to adopt that frame. The right to compute speaks to American’s most cherished beliefs. Recognizing that it is not a novel legal theory. It is the application of the Constitution’s oldest commitments—to expression, to property, to liberty against government coercion
Even if you do not understand how all of its parts work, most understand that the entire digital world, in its constituent parts, is mathematics executed on physical hardware.
When government restricts computation, it does not merely regulate an industry. It restricts the tools through which people think, express themselves, and make use of their own property. Through that lens it’s clear we as Americans decide ourselves how to use it.
I hope we can remember this as the world changes and political actors look to change your mind. I do expect this to become a very complicated and uncomfortable position to have staked out.
Yet I feel confident that we will be able to make the case that this is not only the most American way of handling our future challenges, but is also practically the best way to bring abundance in a chaotic world. America is a land of reinvention that changes material conditions. We need not seek doom.
I believe that I have articulated that vision over the last five years of writing and investing so you can see my revealed preferences. I called our fund chaotic.capital for a reason. It’s hard, weird, difficult and scary but it’s also possible to be a lot better in the digital world such that we can use those gains to make the material world better. We can be more than productive primates with jobs
From nuclear energy to compute, this is what I believe and where I have put my time and money. We are organizing our world of atoms through the power of compute. And that can bring about a materially better world for everyone. Which I want.
I have been thrilled to see so many different people come together around the basic premise that we are empowered to do things.
We can lean in to the accelerating changes, all while holding fast to the reins of the values that built America, so that we may steer ourselves to material success.
The way forward is through the application of math on real problems. We can dramatically reimagine outcomes and the pace at which we do it. It’s scary and will look different but our grandparents lived through a lot of change too. Their grandparents as well. It’s the human condition.
I believe all of this is grounded in a philosophical foundation that is a recommitment to America’s core constitutional values. We are free to make things. And sometimes, when we apply ourselves, the world really does change.
If you are a canny socialist thinking look at this useful idiot for capital, I am honestly surprised that dialectical materialism has become so disliked by its own movement. If states with conservative libertarians can see that culture only changes when material conditions improve why don’t you want to improve them? Please feel free to copy our work as we have studied yours. You can find model policy here.
I had such a lovely day touching grass (and sand) yesterday. I slowly worked through a 36-48 hours of of talking, walking, strategizing and occasionally reapplying sunscreen (I still got burned a little on my shoulders) with a friend who is preparing for big life and company changes.
These are the activities of normal life that I cherish, but my body seems hardly able to manage the strain this week. Now perhaps these activities are stressful on the mind and soul, but should they really be so physiologically taxing for me?
My Whoop is showing high strain
Now yes I am recovering from some dental work and on antibiotics but shouldn’t I be able to have a calm day that most would consider restorative? The serene peace of sitting on sandy shores should surely outweigh any areas from consequential questions of power, compute, realism and human purpose right?
I have barely been able to get out of bed today and the ten minutes of squats and planks I did to test my capacity spiked my heart rate into the stratosphere.
Which is odd as I woke up with my RHR in the 60s which is much better than usual. I only get into the 60s or 70s consistently when I am on heavy antibiotics.
The two weeks I was on Cipro recovering from surgery this summer my RHR was in the mid sixties so clearly I’ve got something going on with low grade infections.
I struggled mightily to organize my thoughts enough to write even this post. I feel I might even have it in me to go for a walk. Which is encouraging as I missed the sunset. The sunsets are obviously an event when you have a beach or far off horizon to enjoy with then.
I don’t feel terrific so I’ll keep this as a ramble but with some links. I fear some sort of Rubicon has was crossed, which we will only recognize in hindsight, in the fight for property rights in America versus the tyranny of failing state capacity.
I am referring to the contract dispute between foundation model developer Anthropic and American Secretary of War Hegseth that boiled over on Friday night as some sort of Murderbot surveillance subplot parsed only by lawyers, policy wonks and anyone who remembers the patriotism of Chelsea Manning.
Right before America and Israel went all Epic Fury on Iran over the weekend, somehow it was felt a messy public fight between defense contractor and the civilian oversight of our military was ok? Good thing everyone is too distracted to care.
The best writing on this so far has been Dean Ball (who worked in this Trump administration on its AI position statement not so long ago) who feels that Hegseth took an approach on renegotiating a contract with a frontier AI model developer that has consequences.
Loosely and I am missing much Anthropic had its previous contract to parse classified documents in the Department of Defense (now the Department of War) negotiated by the prior administration. Some aspects of this contract wasn’t going to work for the Trump administration. Anthropic didn’t want to change it and Hegseth threatened to call Anthropic a supply chain risk unless it complied. They didn’t and Sam Altman signed a deal.
Anthropic is essentially using the contractual vehicle to impose what feel less like technical constraints and more like policy constraints on the military
This is all complicated by the model developer having wishes for frontier AI development to be nationalized and for their work in particular to be safeguarded by a different political administration. It has become a right versus left thing as it was bound to do.
Now Anthropic gets to enjoy the full throated defense of its industry peers and even conservative policy makers like Dean, because our current state capacity is not what I’d call excellent when it comes to our civilian government capacity. Honestly our military still seems to be crushing it.
Secretary Hegseth looked a bit like he was over reaching in his command that he get his demands met. Americans are very touchy about surveillance of if’s citizens and much less touchy about autonomous weapons so it’s natural to be a bit suspicious if you are a millennial who remembers the Global War on Terror. If you are Zoomer who doesn’t know who Chelsea Manning is please go ask Claude.
However it’s not at all clear that Hegseth’s original negotiations were out of hand as of course it’s the state who decides legal use not the private company and we are meant to have laws, judicial process and all the rest. It’s just that we don’t. So what on earth do we do about it? Trust me bro is not a policy.
When Uber first hit San Francisco, most of the hype in my circles was that it was finally possible to go out at night like New Yorkers always had. In Manhattan hailing a cab was simple. One was always going by.
San Francisco was neither so dense nor so populous, so maybe you got lucky; but mostly you called cab companies and waited outside of parties for for ages just to be sure someone wouldn’t steal your ride.
Talking to your taxi driver was more interesting in New York. It was the quintessential immigrants job where one worked their way up to a taxi medallion. Different neighborhoods had different demographics. You’d learn a lot about the American dream.
Now that ride sharing and piece work contracting applications are entrenched in our social fabric, the relationship between customer and provider is entirely different.
Using an interface that cuts down interaction is a big part of the appeal. Maybe no one wants to hear about hopes and dreams anymore.
Except that I do. I am one of those chatty Cathy types who wants to let the conversation roam. Uber and Lyft drivers (and whatever other delivery services they may also pick up) tend to be intermittent workers looking to patch up the cracks in the drivers budget or circumstances.
I’ve had a number of veterans (as in military not as in experienced drivers) on my recent trip. This is also a typical demographic in Montana where it’s either former military or college kids looking for extra money.
Times rally must be changing as I’ve not had a prototypical immigrant driver in America for some time now. It’s largely white native born men looking to make ends meet.
New York probably still has that old school style of driver but working class Americans of all stripes are now thoroughly integrated into application intermediary work flows.
Odd jobs used to be paid in cash and maybe some didn’t get reported. Now you’ve got 1099 income from every piece work source of income imaginable. No one is all that reasonable to anyone else.
The companies are just the layer between customer and provider. I’m sure the governments must love this (despite protests to the contrary) as it makes it very easy to collect the taxes.
I spent most of yesterday on an airplane. I flew nearly 12 hours along the polar routes to go from Heathrow to America’s west coast. I flew British Airways and was disinclined to spend the many pounds for internet access.
Alas this meant I missed the rollout of the joyful flight of one of my favorite investments. Valar Atomics began its journey from California to Utah just as I too was flying. Me and the reactor I angel invested in were both up in the air like bluebirds and sunshine.
HILL AIR FORCE BASE, Utah, Feb 15 – The U.S. Departments of Energy and Defense on Sunday for the first time transported a small nuclear reactor on a cargo plane from California to Utah to demonstrate the potential to quickly deploy nuclear power for military and civilian use.
The agencies partnered with California-based Valar Atomics to fly one of the company’s Ward microreactors on a C-17 aircraft — without nuclear fuel — to Hill Air Force Base in Utah. Via Reuters
I tear up just thinking of the incredible accomplishments of millions of people coordinating together across centuries that these technologies represent.
It’s easy to think of ourselves as being small in the vastness of time and space. I almost cannot believe I was handed such gifts in this life, but I can claim a small but early part in Valar’s story.
U.S. Energy Secretary Chris Wright and U.S. Under Secretary of Defense for Acquisition and Sustainment Michael Duffey on board a C-17 cargo plane that transported Valar Atomics’ Ward nuclear microreactor from March Air Force Base in California to Hill Air Force Base in Utah, at the Hill Air Force Base in Utah, U.S., February 15, 2026. On the right, with the American flag and the Valar logo on his jacket is our CEO Isaiah Taylor
Just a little over three years ago I sent Isaiah a message on Twitter. We had a lot in common and I felt a kinship with this young entrepreneur. It was before he had even begun the incorporation work on Valar. He was working on something else, but I trusted his quiet intelligence and admired his humble inquisitiveness. We kept in touch as he mapped out his path.
His lack of ego instantly marked him as special, as it meant he could hear even the hardest criticisms. His fortitude was clear. He could incorporate what was necessary into his mission, a skill usually developed much later in life.
It’s rare to build trust so early on, and yet we both did. I told him I’d back anything he did so long as he was the CEO. Little did I know just how lucky I would end up as his very first backer.
You might think you will have doubts in high risk early stage investing. But I’d be lying if I said I didn’t believe in him from day one. I knew he was on a mission bigger than any of us. I knew it and he knew it. For God and country as they say.
That faith was required, as it was tested in rapid succession again and again over the next three years. Chewing glass is part of every startup. Even when you go as rapidly as Valar has gone, there are harsh conditions, brushes with death, and moments of utter joy in between.
Not only did we write a first check in the angel round, but in tight spots before the seed closed we wired follow on within minutes when a concern about a cash flow question arose. We put together special purpose vehicles. Nothing could jeopardize this mission. I’d invest more if I could.
We weren’t always the ideal investors as we struggled to showcase to bigger and better firms our conviction. Not too long ago it was all about being asset light and software as a service. Thankfully the execution always outshone the skeptics and we were ahead of the times. And while the skepticism was fierce, Isaiah never wavered. Neither did I.
And you can better believe that I am looking forward to July 4th this year. We promised the president we’d be turning on the reactor, so there is much to be done between now and then.
Even the Department of Defense (War?) is writing swan songs about Valar from the Pentagon Twitter account
At March Air Reserve Base, California, yesterday, a next-generation nuclear reactor was loaded aboard a C-17 Globemaster III aircraft for transport to Hill Air Force Base, Utah. The reactor will eventually head to the Utah San Rafael Energy Lab for testing and evaluation.
The Ward 250 is a 5 megawatt nuclear reactor that fits into the back of a C-17 aircraft could theoretically power about 5,000 homes.
For military use, such a reactor could provide energy security on a military base ensuring the mission there need not depend on the civilian power grid, and in military operations overseas, such reactors would mean U.S. forces could operate without concern that an enemy might cut fuel supplies.
A reactor such as the Ward 250 also means greater energy security for the entire United States. It is firmly in line with President Donald J. Trump’s executive orders to reshape and modernize America’s nuclear energy landscape.
The president signed four executive orders designed to advance America’s nuclear energy posture, May 23, 2025. Those include “
Michael P. Duffey, the undersecretary of war for acquisition and sustainment, said the partnership between the War and Energy Departments is critical to advancing the president’s nuclear energy initiatives.
“It’s clear to me that advancing President Trump’s priority on nuclear energy depends on close coordination between the Department of Energy and the Department of War,” Duffey said. “This partnership ensures advanced nuclear technologies are developed, evaluated and deployed in ways that strengthen energy resilience and national security.”
The future of warfare is energy-intensive, he said, and includes AI data centers, directed-energy weapons, and space and cyber infrastructure. The civilian power grid was not built for that, and so the War Department will need to build its own energy infrastructure.
“Powering next generation warfare will require us to move faster than our adversaries, to build a system that doesn’t just equip our warfighters to fight, but equips them to win at extraordinary speed,” Duffey said. “Today is a monumental step toward building that system. By supporting the industrial base and its capacity to innovate, we accelerate the delivery of resilient power to where it’s needed.”
Secretary of Energy Chris Wright said that with small reactors like those transferred from March Air Reserve Base to Hill Air Force Base, the United States is aiming for a nuclear energy renaissance.
“The American nuclear renaissance is to get that ball moving again, fast, carefully, but with private capital, American innovation and determination,” Wright said. “President Trump signed multiple executive orders that have unleashed tremendous reform of all the things that stopped the American nuclear industry from moving.”
Part of that effort, he said, will mean that by July 4, three small reactors will be critical — or running smoothly.
“That’s speed, that’s innovation, that’s the start of a nuclear renaissance,” Wright said. By
I love a good signaling and status competition. There are so many ways to to signal that at the far reaches of taste you will never fear to tread. Just don’t worry about how other people live.
I’ve worked in luxury fashion and venture capital and they run on the same rules. And it’s all snobbery up and down and it is a mixed bag when it comes to what works in reality.
I’ve known sneakerheads who seamlessly transitioned to private equity because they know in some fundamental way that rising price increases demand in strange markets. But the little signals can give away your whole game and you can’t always assume you are speaking their language.
Many an investor and fashionista has made good use of this basic understanding of a Veblen good. The more expensive it gets, the more it stokes demand. Everyone thinks they can become Hermes or Facebook but if you could well you would have.
This can fuck with actual performance as the thing being performed isn’t necessarily the thing that is getting done in reality. You can show your own displeasure with the pricing scheme by not participating. You can short a thing with a little creative and signaling of your own.
Many decided will continue to play along despite not needing to participate in status games. Outsourcing taste is actually something you can pay for and sometimes you should just get a realistic budget.
Often you really can’t afford to play the game and it’s better to cultivate your own taste and satisfactions in life so you are comfortable taking on the risk load of stepping out of unnecessary competition. You play your own game and win on your own terms.
