money The Freeze Function The whole stablecoin fight is about reserves and yield and which bank deposits walk out the door. Nobody is pricing the one feature that actually separates a stablecoin dollar from a bank dollar, which is that somebody can freeze it from a console.
ai We Rented the Mainframe Back Two AI assistants went dark in forty-eight hours last week. In neither case did the model break. The thing that broke was the wire in front of it, and we built that fragility back on purpose.
infrastructure A Pledge Is Not a Repair Ship Seventeen countries signed a framework to protect the undersea cables last week. It is voluntary, unfunded, and excludes the two countries with the largest navies. Britain built something better in 1902, and it did it on purpose.
