good to see Jensen say this out loud

crypto spent a long time on this same thesis, just about money instead of intelligence. everyone said open systems couldnt be trusted with anything that actually mattered, and last year stablecoins moved $33T. open was never the risky option, it just looked that way early on.

the letter makes the point that open models strengthen competition, and thats the part we've already lived through. open rails meant anyone could build on them without asking permission and that competition is what helped drive stablecoin payment adoption forward this fast.

all the data, compute and all the weights are heading into the same few hands right now and after spending all that time decentralising money, leaving intelligence centralised just doesnt make sense to me.