Jay Yu

Jay Yu@0xfishylosopher · 14 天前观点输出

@entropyIO bangerrrr 🔥🔥🔥

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AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。

Jay Yu@0xfishylosopher · 14 天前观点输出

been yapping on tokenized preipos for a while, congrats @entropyIO on launch :) another w for @StanfordCrypto

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AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。

Jay Yu@0xfishylosopher · 15 天前赛道影响

RT @ryanli: In a couple of years, I think every asset will be issued and traded onchain. As we move through the ages of crypto, it has bee…

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AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。

Jay Yu@0xfishylosopher · 15 天前观点输出

@BoringQuant alwayssss

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AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。

Jay Yu@0xfishylosopher · 16 天前观点输出

@milesgr_ Absolute depreciation of the GPU itself is one thing, but prices are also affected by relative depreciation vs sota, the schedule of which nvidia controls

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AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。

Jay Yu@0xfishylosopher · 16 天前赛道影响

the more I reread this post, the more I become convinced this is NVIDIA's manifesto of becoming the "central bank of compute." some thoughts on this econ model + nvidia's role: > econ101 tells us a central bank has several goals - (1) anchor inflation, (2) full employment/utilization, (3) lender of last resort. Commercial banks on the other hand "create money" in the economy by lending and thus increasing GDP > the loan in GPU financing world is datacenter buildout (of NVIDIA factories), the "GDP growth" is essentially token/inference spend. The primary "commercial banks" are neoclouds (Coreweave, Nebius et al.) that contract with the labs/inference platforms, which manufacture tokens and allow for "GDP growth". This is the first layer of compute. Lets call it C1. > in addition to directly "lending" to the giants as C1, wholesale compute can also get unbundled into PAYG/short-term duration markets. this is the whole "GPU marketplace layer" - the world of SF compute/Vast AI/compute exchange that sell bare metal. We can call this C2 > all the orderbooks on C1 and C2 can then get bundled into a bunch of synthetic financialization tools on the outside layer, which we can label as C3. Indexes, cash-settled exchanges, residual puts, insurance stuff all belong here. so why is nvidia a central bank? going back to econ101 - (1), the "inflation" in compute land is actually depreciation curves. NVIDIA can control the depreciation curve by deciding when to release a new series of chips (eg. Vera Rubin). (2) NVIDIA's goal is to enable full utilization in the economy of their GPUs (which spurs more demand + higher prices etc.) and so will let the financing stack go faster. (3) NVIDIA has the balance sheet and resources to "bail" failing neoclouds/marketplaces out that don't see the inference demand growth as the lender of last resort. this is where the 25% underwriting comes from.

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AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。

Jay Yu@0xfishylosopher · 17 天前赛道影响

@kilobytes_ reminds me of the “atlas of ai” thing that we read for Fred turners media history class, ppl protesting see datacenters as this symbol of physical extraction taking place to fuel AI

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AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。

Jay Yu@0xfishylosopher · 19 天前观点输出

danning brings data to a hunch that I've always had - the numbers on compute indices have massive spreads, bc everyone only sees their own thin orderbook + partners they revshare with. we're so so so early in the gpu financialization era...

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AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。

Jay Yu@0xfishylosopher · 19 天前观点输出

@ethanmlam swing by next time :)

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AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。

Jay Yu@0xfishylosopher · 19 天前观点输出

@jessiedong_ yesssss

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AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。