I know it’s sweet bordering on stupid to engage in good faith when it comes to politics, but maybe I’ve grown soft in my old age. I really do believe that Americans are capable of building wide coalitions in a pluralistic society.
Call me naive but most Americans, even most humans, have more to bind us together than to break as apart. We are social animals even the most introverted of us.
I know it doesn’t sound very sinister but everyone involved is sure the anti-Christ is going to be involved. Peter Thiel is in Rome giving lectures so the buggy man has involved.
I guess if you are certain that you are in danger of being stomped out by an evil, and believe any of your actions are justified by this premise, you may as well embrace all kinds of evil.
But you do have the options of not using millenarian tactics to scare the shire. Hobbits are brave or so said the neomonarchist who can’t tweet. But I won’t forget people who threw me over for propaganda they were too dim to understand or cynical enough to believe no one else would.
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.
If you watch me closely (which would be weird but I make it easy enough) you have surely noticed I spend much of my life traveling.
I’ve got no training in psychology but it sure seems like a certain personality type takes their childhood traumas and does exposure therapy till it becomes enjoyable.
I had intended for another trip to the general Mediterranean area in the spring to see family and work undisturbed by the American media timezone distractions. Now I am unsure if that will be feasible.
I am guessing that the sort of people who go to Sicily, Santorini and Cyprus to soak up the sun may find this Iranian conflict putting a wrench in their island hopping. Where will they go instead? Cartel wars bleed into the Caribbean and Bitcoin zillionaires setting up economic zones might make other things tricky. And oh the fuel costs will be ruinous.
War certainly makes me reconsider standard air bus style flying near any seas that connect to conflict areas but not too long ago I sat in a Turkish airport where “final boarding for Damascus” went over the loud speaker so maybe I’m making too much of it. Though I’m glad I enjoyed Istanbul over the winter as anything bordering Iran is now unnecessary risk.
If we do make it through the Jackpot to the other side of the singularity, or just through this regional war situation, I would bet humans will find ourselves getting back to status hierarchies and power games.
If all our consumption needs are met, there will always be hierarchies. Wait your best friend summers in Block Island too? Or are those the Finnish slides from the Comme des Garçons show? Let me just call up “insert social scene’s patron billionaire” as everyone is headed to Big Sky for fresh powder this weekend.
If we can have anything we like, then taste becomes finer and finer grained. The rich know this already and the rest of us just might find out if we survive to an abundance era. And as I’d like to do that maybe I be reconsidering heading out to sea. Caribbean, Ionian, Bosphorus or otherwise.
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.
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
Maybe it’s because it’s been such a wild week in the financial markets, but I’ve been thinking back to one of my moves to San Francisco just before the Great Recession. It’s a story about buying clothing but I’ll get to that.
I had just come off the high of being the first publisher to break (by live streaming and photography) a new fashion designer who would become one of the biggest names of his generation.
The low hit me as I realized I was unable to afford any of the pieces in his collection. And nor was I able to buy them anyway as the whole collection sold out instantly in New York City. I look back on being backstage at his first (and subsequent) shows with much fondness. Once he threw a full on carnival in a parking lot! Imagine models tossing their size 9.5 Manolo’s on concrete to hop into a bouncy castle.
Those models were his muses and he was known for an off-duty model look. I am about a foot too short, 20-30lbs too fat, and three cup sizes too large to be mistaken for a model so not an ideal customer.
Normally one could politely ask for samples or gifting if one helped break a collection, but this was not a sample collection that would have fit me. I’m a size 7 shoe and those boobs do me no favors for hanger sizes.
Still I wanted one item badly. Even if I couldn’t afford it and I couldn’t find it in stores, I kept an eye out everywhere for it.
The coveted item was a pair of high waisted pleated black wool trousers (lined with an ample cuff) that was the wearable merchandising anchor to a collection that was otherwise a bit tricky for mere mortals to wear.
For the men (and some women) who haven’t given thought to runway models, the metrics are specific. You need to be over 5’ 10”, never over 115lbs and have an A cup to fit a designer runway model call sheet.
These aren’t aesthetic preferences, just that models are a glorified hanger and not a person for purposes of ease of fitting. Yes it’s a bit degrading.
And so I resigned myself to never getting those pants and having only the glory of discovery and first to market coverage. Though the proof on that may be debated.
But then a small miracle happened. As I was relocating to San Francisco (by the buyer of my first startup) I began to get invited to events and parties.
A brand new Barney’s opened up off Union Square in San Francisco. An old girlfriend who had just married and moved to San Francisco told me “you will love the shopping out here as the good stuff never sells out!”
Mind you the collection had sold out in other fashion capitals. I had called around. I asked all the major stockists. It just wasn’t to be had anywhere.
But the new Barney’s was very late in opening and had stock from the previous season saved. I missed the opening party but thought maybe I’ll see something from the newer collection and I’ll splurge.
Well I got even luckier than I imagined. The pants were not only at the new Barney’s but on the sale rack. No one in the market had even liked them.
The salesgirl said weren’t moving as they were too formal and too trend forward for the town. They were having trouble moving most of the pieces from the designer in fact.
There were multiple pairs of the pants in size 38. That is a size 6 in American sizing which is almost always the first to sell out. I purchased it without even thinking. They were 40% off.
I still wear them to this day. And anytime I visit a bigger city or capital with a retailer of high end fashion, or designer goods, I’ll go looking. Sometimes in the strangest places you will find the exact item you wanted marked off in the middle of February.
People tell stories of where they were or what they were doing when major world events happened. Most of them are silly and personal but necessary to ground the horrors of being connected at scale while still being such small bit players in the scale of things.
On 9/12 I had just left New York City to return home to Colorado to finish out the high school I’d dropped out of the year prior. My grandmother called me at dawn before I’d left for the annual start of school camping trip, distraught that we couldn’t reach cousins and other family who were first responders or worked downtown. Then we couldn’t get through for hours.
When Lady Diana was killed I was up early for a sports competition preparing my gear when the news broke. My mother and I watched in shock at 4 in the morning as we packed bags.
When Michael Jackson died I was in Miami on my first solo vacation between jobs having sublet a condo for two weeks while I sublet my New York apartment. The grocery clerk at Publix ringing me up asked if I had heard. I attempted to explain that I’d seen it on something called Twitter.
When Jeffrey Epstein didn’t kill himself I was in the hospital. I had been entirely off social media but still listened to the five minute radio news update. I don’t know why but I told my doctor that he was dead and her immediate response was to swear. I recall us both being upset as she shook her head saying “now he will never face justice.”
The entire weekend was a deluge of people processing, concocting, and turning over the “flood the zone with shit” dump of files on Epstein. As if the Friday night “take out the trash” media playbook somehow still held sway over a population of networked humans.
Now we are a species who remember every Harry and tragedy both personally in the context of our own small lives and at large as it emerges into a wider understanding shaped by the contours of those who seek to distract or draw attention.
It’s no wonder we spellbound by conspiracies. I lived across from ground zero for years. Tourists grieved and paid homage next to soap box schizophrenia weaving tales. I grew up on forums dissecting every aspect of death and tragedy from princesses to the King of Pop. Why should the coverage of depraved sins be any different?
So I ask myself why should I believe any of it. Who should I give information dumps and theory threads and newspaper headlines any attention at all? I’ll never know if crimes were punished. Justice works slowly and sometimes not at all.
The crazier the informational world gets, the more inclined I am to tune it all out. The flows of information are fun sure but it’s only useful to financiers, degenerates and the global management class. I really only rate into very bottom of one. No, not the degenerate class.
As 2026 has become the year of repositioning for “whatever is coming,” I am unsure of much I wish to return from the hinterlands into the flow. Being inside the flow looks enticing but it’s Thor the only way to do business.
The thing is that I began my own career by participating (in a small way) in what Will Manidis calls The Flow. Being inside has its perks and I saw a lot which enabled me to make some very good investments.
What is the flow? It’s a metaphor for a 24/7 club of information, a formal and informal circuit of social and business obligations, and series of social & professional inputs that sometimes generate spectacular output.
It’s no wonder people think investing looks like gambling when you put it that way. It takes a lot of shrewd social manners and access to resources to be inside the flow and those are distinct barriers for anyone outside the global ten percent.
So where to go if you are an American? Well, stay put somewhere you can be stable and secure. Sure the middle powers will tell you that they can save the liberal order but in reality it’s all state capitalism by strong man and technocrats. And I’m not either and I’d wager most truly new things that will matter won’t be easily secured by old mechanism of power.
What Manidis rightly points out in his Flow essay, is that you can build businesses and make good money for investors and limited partners outside of the flow. You can focus on your unique insights and build something great.
I hope I offer some proof of that myself. I flash the codes for my odd little node and traffic occasionally routes through me. I found crypto winners and the future of atomics outside the flow. And I think I’d rather like to spend my Sundays seeing what’s happening outside the nightclub of financial flows.
If you want to be outside you can be. I just might be already. You can find me in the proverbial parking lot of the Flow (the open internet) yapping, chilling, lighting and fighting with the cool kids. You will always know where to find me. I’ll be one DM away.
My daily routine starts perceptually early when I am in Europe and perceptually late when I am in Montana. The world is currently rotating on the narratives of American Eastern Standard Time and that means I try to rotate with it too.
Alas part of me has always oriented my circadian rhythm around the full noon day sun as I’m I am not an early bird nor a night owl. So European hours work better for me than Mountain West Hours for some types of work.
Most notably the watching of flows of information, particularly from legacy media and its keepers in Washington DC and New York City.
I don’t know where I got the habit, probably from my mother or father, but I always start my day scanning the major newspapers.
There is functionally no local paper to read any longer in most markets but I will take Bloomberg, The Financial Times, The Wall Street Journal, The New York Times, along with NPR before I do anything else. If I’m feeling spicy I might even look through the New York Post.
It’s a habit I was encouraged into as my family was a household that always had a newspaper delivered. Whoever began their day together would share or sections, like a Norman Rockwell painting. I generally remember it being my mother but my father was a great reader as well.
What began with a local Colorado paper turned into many subscriptions. We subscribed to all sorts of magazines and periodicals when times were good and what we could not justify in the household budget, I was encouraged to pick up at the library after school.
Maybe this is why I am such an avid writer, as I am an avid reader. Although I don’t know if either of those habits will have much utility in the future as we transit into visual and oral communication methods. I am still reticent to scroll video platforms.
Now I begin the day not just with a newspaper scan but with every sources of information I can scan from commodity indexes to podcasts and social media.
I like to know where the discourse is being guided as early as I can. Obviously in my professional capacity sometimes I’m months ahead or even years, but I like to be ahead, at least, of the day’s news as well.
Increasingly it is hard to be sure that you are able to paint yourself a picture of what may really be happening as opposed to a picture of what somebody else would like you to think is happening. This was always true but now we are in the fog of war.
Hence my interest in being on European time zones. I can usually get a good grip on what may percolate up being ahead of the London broadsheets. Being just ahead enough of the largest media market (American media is mostly based in Manhattan) can give you a real sense of freedom in these very certain, uncertain times.
The call to prayer echoed out as I stood underneath one of many loudspeaker towers bristling with surveillance equipment.
Strong winds buffeted cell equipment and 360 degree video eyeball cameras as the firm melodic voice of the muezzin recited out the first words of the Adhan.
“Allahu akbar”
I wonder how many cameras were scanning my face as I watched the speaker quiver from the wind and snow as I shivered waiting for the black Mercedes driving me to Istanbul went through giant X-Ray machine.
Loudspeakers and surveillance cameras
I briefly let my eyes scan the area to see if this prayer would delay my transit across the Turkish border. I was in no-man’s land between Greece and Turkey and I felt alone. I prayed. God is the greatest.
I saw no one rushing to prayer rooms or unrolling prayer mats. Maybe others were praying as I did. Silently inside the privacy of their own mind. The siren indicated the giant car X-ray was on.
A kind of Doppler effect buffered the prayers from each tower over the sound of alarm, layering prayer and warning as sound rose and fell over my head.
I switched on my Bose noise canceling headphones and closed my eyes. I went to wait out the cold in the duty free but the smell of the perfumes made me nauseous. I went to the bathroom feeling ill. I finally found the prayer rooms. I was still the only one there.
I found the prayer rooms next to the bathrooms at the Duty Free shops inside.
This was my second time driving to Istanbul through the rolling coastal mountains of the Balkans into Greece. I had not expected this kind of life for myself but I seek to be exploring far reaches in this life and little of it makes sense. I experience reality as closely as I can.
To be a traveler to the crossroads of the great empires is a privilege for princesses not a lowly citizen but here I am. An America woman with a passport has power even a Venetian trader did not.
How long that lasts I can’t really say. Even in the panopticon of the crossing I felt safe but the world is in a strange place. Still for now I was welcomed. Constantinople welcomes all travelers.
Three hours later the open roads of Turkish farmland slowed to potholes and frantic taxis gummed up by city traffic. Istanbul drivers are terrifying. Each near miss I found myself saying God is great. Praying that I would make it to my hotel. That feeling would last through every taxi ride I took.
EDFM techno radio and a tricked out taxi expressing his love for the American Cadillac
