Sachin Nahar @snahar

This is the man who just bought Leopold's fund, Ken Griffin and this video captures exactly the mindset that let Citadel scoop up Situational Awareness's wrecked portfolio (Save this). Griffin keeps a $10 plaque behind his desk stating that if everyone is going to eat, someone has to sell, a blunt reminder that every part of running a firm, hiring, raising capital, winning clients, is fundamentally a sales process. He explains that you're always selling, whether to candidates, vendors, counterparties, or customers and if you're always selling, you're going to hear no constantly. He illustrates just how brutal that rejection can get with two stories from a single rough day in 1994, a year when Citadel was down about 4% and Griffin flew to Switzerland for a critical lunch meeting. His lunch date sat down, realized he had the wrong Griffin, mistook him for someone else entirely, and simply got up and left. Later that same day, a Swiss banker spent 45 minutes with him over a cigar in a beautiful office, only to end the meeting by essentially telling him he'd wasted his talent on the wrong career. Two rejections in one day for the founder of what became one of the most successful hedge funds in history and Griffin's takeaway was that you just have to tolerate it, since you have to become accustomed to constantly marketing your ideas and what you stand for. That mentality is exactly why Citadel could move so decisively to buy Situational Awareness's beaten down stock portfolio after Leopold's fund got hammered in the AI rout, since Griffin has spent three decades building a firm around absorbing rejection and market pain as just the cost of doing business, then capitalizing when others panic. Just like Griffin, Milk Road Pro went shopping during the chaos and bought a bunch of beaten down stocks, if you want to see exactly what we bought, you can join us using the link below for just $1.

Melvin @MelvinInvests

2 weeks ago

This is WILD! Citadel manipulated the entire market along with Leopold's portfolio and now Ken Griffin's shop is scooping up the wreckage. Citadel previously called for the Fed to hike rates, a signal that helped drive AI stock prices lower across the board but Citadel knew all

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Some financial lessons here.

GURGAVIN @gurgavin

2 weeks ago

LEOPOLD’S SITUATIONAL AWARENESS FUND BLOWUP TIMELINE JULY 1: LEOPOLD’S HEDGE FUND SITUATIONAL AWARENESS REACHES $45 BILLION UP 450% YTD JULY 10: SK HYNIX US IPO MARKS TOP OF THE AI SECTOR JULY 10-20: MAJOR SELLOFF ACROSS ALL AI STOCKS, MOST DOWN 30%+ IN 2 WEEKS JULY 10-20:

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Leopold Aschenbrenner's hedge fund was up 439% after fees at the end of June. Five weeks later, Citadel owns every public stock it held. The speed of the roundtrip is wild. Aschenbrenner is 24. He left OpenAI in 2024, published a 165-page essay arguing AI would demand a historic buildout of chips, memory, and power, then raised billions on the strength of the argument. Investors treated the essay as a prospectus. By July 1 the fund had grown to $45 billion. The portfolio was the essay in trade form. Long the physical layer of AI, with SK Hynix, Micron, Sandisk, Nebius, and CoreWeave among the largest holdings. Short the software companies he believed AI would commoditize, including Adobe. Levered on both sides. Then July happened. His four largest US holdings each fell more than 35% in a month. The software shorts ripped against him at the same time. A book built to win in two directions lost in both at once, and leverage turned a drawdown into margin calls. His prime brokers spent the past week scrambling for cash. On July 24, with losses already mounting, he sent investors a letter calling this one of the best buying windows since early 2025 and inviting fresh capital on August 1. Six days later the entire public book went to Ken Griffin in a block trade. What remains is a roughly $5 billion stake in Anthropic and a handful of private holdings. The fund built to trade the AGI transition is now, functionally, a holding company. Two years to build $45 billion. Four weeks to hand the public book to Citadel.

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The Kobeissi Letter @KobeissiLetter

2 weeks ago

BREAKING: Situational Awareness sold "the bulk" of its stock portfolio to Citadel after "big losses in AI," per WSJ. The hedge fund, which reportedly had a net asset value of $45 billion on July 1st, is now in "crisis mode," WSJ reports.

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I saw 25 people say to listen to this. So I did. I do not regret it. There is a lot to digest here. On many very consequential topics.

AI is simpler than most people believe. Many get confused simply because of a bad explanation: Here are 12 key AI terms you need to know: Sharing this great compilation by Luís Rodrigues: 1. LLM (Large Language Model) Massive neural networks trained on vast text data to generate human-like responses. Powering tools like ChatGPT, Claude, Gemini, GitHub Copilot. 2. Transformers Core architecture behind modern AI systems using attention mechanisms. Helps models understand meaning based on context between words 3. Prompt Engineering The process of structuring instructions to get better outputs from AI systems. It turns vague AI interactions into reliable, repeatable results. 4. Fine-tuning Improving a general model using domain-specific data. Transforms broad intelligence into focused expertise. 5. Embeddings These convert words into numerical representations AI can understand. They help AI recognise meaning, similarity, and context. 6. RAG (Retrieval Augmented Generation) Combines model output with external data sources. Improves accuracy and keeps responses up to date 7. Tokens Small pieces of text AI processes instead of full sentences. They are the basic units models use to read and generate language. 8. Hallucination When AI generates false or made-up information confidently. Human validation remains essential for reliability 9. AI Agents Systems that can plan and execute multi-step tasks. Reduce manual intervention across workflows. 10. Multimodality AI’s ability to understand and generate different types of data. It combines text, images, audio, video, and more in one system. 11. Context Window Working memory of the model during interaction. Defines how much information can be processed at once 12. AI Alignment Ensuring models behave safely and as intended. Still one of the hardest challenges in AI development. Master AI skills and you will never become obsolete. P.S. Which concept is new for you? ♻️ Repost for those who want to master AI.

True

Let's talk about what's going on in Texas

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@pitdesi From there is An app for that to there is An AI for that.

10-minute delivery in India isn't magic. It's really good engineering. @albinder and @letsblinkit built tech that most people never see. We went deep on how it works.

One of the most incredible shots in Tennis history! 🙏🏽

11 observations interviewing 500+ engineers the last 9 months: 1) The new H1B visa thing is a big bummer. We have to say no to lots of qualified candidates because it's financially irresponsible for us to spend $100,000 extra to hire someone. 2) There are very few true full-stack engineers out there. Most applicants are 90% backend or 90% devops or 90% data eng with a splash of full-stack. Being a true five-tool hitter has never been more important. 3) The spread in compensation ranges is wild. I'll have one call with a Series C senior engineer making $600k/yr, then I'll have a second call with a SWEII at Microsoft making $175k/yr. Comp is all over the map and a moving target. 4) The biggest risk with big tech engineers is lack of experience building systems end-to-end. Technical depth may be really strong, but ability to own & system is iffy. 5) There are very few AI-native engineers. An AI-native engineer is someone that has completely rearchitected their personal workflows for building software. To be AI-native, your process should be >75% different than pre-AI. 6) There are very few AI engineers. An AI engineer is someone that has built and deployed production agentic systems (ideally at scale). Because the technology is so new, you either have to find a diamond in the rough or hire someone you think can learn fast. 7) Strong communication is rare as hell & when you find it, it's glorious. All of our engineers at @tenex_labs are client-facing, but outside of that strong communicators are usually strong thinkers and strong thinking has never been more important in engineering. 8) Testing an engineer's technical chops has never been harder. When everything is Claude Code-able, quickly understanding an engineers fundamental systems & engineering abilities is very hard. Someone will make a billion dollars solving this problem. 9) Great engineers under-estimate themselves. Mediocre engineers over-estimate themselves. I always ask the question: "If you had to rank yourself 0-10 as an engineer, what number would you pick & why?" The best engineers I've hired give themselves a 7.5/10 max. 10) Engineers are way more interested in being influencers/creators than I ever imagined. Part of the reason they're interested in joining us is they want to be the next @theo or @ThePrimeagen. 11) There are two types of engineers: those who view it as a job and those who view it as a craft. Those who view it as a craft are typically more entrepreneurial, are always cooking up a weekend side project, and view engineering as a core part of their identity.

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quite possibly the most amazing thing I've ever seen

10 years ago I herniated a disc in my back. - Pain - Sciatica - Inability to train But now I deadlift over 220kgs. Here are the 4 Simple Exercises I used to get my back strong and pain free: = Thread =

This is a great strategy to get a mortgage at 4%. You need a brokerage account with 100k and you can borrow 50k for example. Or 1m and borrow 500k. This way you keep your money in the market, instead of taking it out to buy a house and hopefully make more than the 4% by just being in the S&P. Get an advisor to work with you on it or reach out to the firms mentioned, one is called Synthetic Fi I think.

Ankur Nagpal @ankurnagpal

7 months ago

A financial engineering trick used by wealthy people: If you have a large balance in your brokerage account, you can borrow money at US treasury rates (~4%) This is cheaper than a mortgage, and you can deduct the interest you pay as a capital loss! Here's how it works:

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Happy New Year !!🎊 #HappyNewYear

Loosing a friend in good health under 50 hits you hard. Life is so fragile. Take good care of yourself & everyone around you & enjoy every moment.

@RobinhoodApp Sure Why not.

Move to Austin! It gets better very year. So many cool, world-class people are moving to Austin from SF, LA, NY, London and many other parts of the world! Austin++

Farzad 🇺🇸 🇮🇷 @farzyness

9 months ago

After living in Austin metro for the last 5 years, I can attest that this area of the country is AWESOME. But two HUGE drawbacks: The growth is CRAZY, which means that regions will get disrupted very quickly. Where you end up living might look completely different in 3 years.

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