GM, Banking @float_financial
Toronto, Ontario
Joined January 2010
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Jeremy Black retweeted
bullshit, come and work with us.
generalmagic.inc/careers
Jeremy Black retweeted
It’s quite disturbing that Anthropic has been running a campaign to lobby the major faiths to adopt their own philosophical interpretation of AI, rather than taking input from them.
I’ve been fortunate to spend time at the Vatican, and I’ve always asked for advice and guidance, answered the questions asked of me, and been grateful to them for their time and guidance. It’s insane to me Anthropic would actively impose their viewpoint to the extent of threatening to pull out of events that don’t precisely align.
It’s a moral arrogance and dogmatism that has characterised EA and Anthropic (certainly its leadership at least) for a very long time. I’m glad these stories are coming out and being exposed.
Jeremy Black retweeted
The most valuable decisions give you zero feedback
@tobi explains ...
"Intuition is actually the most valuable when there isn't direct feedback."
Wait, what?
"If there's many choices, like there's five things that look like good paths to go forward, and any of them has rapid feedback, everyone goes to that."
"That is what we call short-termism, right?"
But there are many ways to improve the company (and yourself).
"Many of them involve long-term investment, refactoring, potentially going into a new market, potentially saying no to going into obviously new markets and actually doubling down and going deeper on our current market. Or we could do what increases the stock value. By the way, this one has a daily ticker and rapid feedback."
so in this sense, it's the absence of rapid feedback can be a strong signal.
"I find a very high correlation between the right path and the ones that don't have feedback loops attached."
My third conversation with Shopify co-founder and CEO @tobi.
0:00 How Shopify Uses AI
7:18 River: Shopify's Internal AI
8:55 How to Encourage Osmosis Learning
10:52 AI Dreaming and Self-Reflection
11:53 How to Use AI for Strategic Decision Making
14:11 The One Thing AI Cannot Do
16:04 What AI is Making Worse at Shopify
19:46 Predictions: Where AI is Headed Next
21:55 The Future of AI-Powered Software
24:40 Will CEOs Be Replaced with AI?
27:54 Can Superintelligence Be Controlled?
31:13 Critical Skills in AI Age
34:22 Why Complex Solutions are Usually Wrong
36:33 Conditions Needed for True Intuition
38:02 The Best Path Doesn't Have Instant Feedback
44:51 How Affirmations Can Shift Your Behavior
50:44 The Inobvious Thing Hurting Companies
52:37 Relationship Between Beauty and Creation
56:23 How SpaceX Moves Forward By Subtraction
1:00:24 Why Companies Need Refounding Events
1:01:50 Books as Cheat Codes
1:02:39 Three Books to Change Your Thinking
Enjoy!
(Includes paid promotions.)
Jeremy Black retweeted
Weekly delivery of gear for new crew joining our rocket ship @Nord_Space! We will be ~75 by end of year and accelerating. Newfoundland engineering office opening soon too. Don’t blink!
Jeremy Black retweeted
Crypto neobanks posting charts showing sudden, near vertical, adoption as proof of PMF, gives me PTSD.
Everyone who’s ever run a neobank knows what this is. It’s crime. You just don’t realize it yet.
Call people who know asap!
Jeremy Black retweeted
Real ones know that @kartiktalwar and @liamihorne have basically put the Canadian tech scene on their backs with this event
Hard to overstate the enormous impact they’ve had on not just my life but 10s of thousands of young Canadians
Jeremy Black retweeted
We're hiring a Senior Staff Product Designer at @nubank to shape the future of open money and open financial services — not "crypto."
Looking for a curious, high-craft design leader to build intuitive financial products that solve real problems for real people.
Apply here: jobs.ashbyhq.com/nubank/691d…
Know a great design leader? Tag them in the comments or repost to pass this along.
Jeremy Black retweeted
Rundown on where Visa is seeing pmf w/ stablecoins from their CEO, Ryan McInerney:
> 1) Consumer payments -> Visa card issued on top of stablecoin balances. Growing "very, very quickly" and up to ~160 stablecoin-card programs globally (i.e. Whop, Etherfi, Plasma, Redot, $WU soon etc)
> 2) Stablecoin settlement -> "Historically we settle in fiat. We do it Monday through Friday, and we do it once a day. But now we're using stablecoins to offer settlement 7 days a week, multiple times a day across border around the world". Up to single-digit billions (last # I saw $V release was ~$5 billion in Jan '26) and growing "very, very fast"
Jeremy Black retweeted
Stablecoin collateral backing $GHO has nearly tripled its share in six months, from ~5% to 14%.
New asset types are joining ETH and BTC as meaningful sources of borrowing demand.
GHO is starting to scale from a wider collateral base.
Over the last 30 days, borrowing against syrupUSDT increased by +20M GHO , while WBTC still backs 23.6M GHO and AAVE collateral demand added +3.95M.
The interesting part is where the growth is coming from.
ethereum:0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f is no longer growing from one type of demand. It is now backed by a wider mix of collateral across DeFi, from BTC and AAVE to LSTs, yield stablecoins, tokenized gold, and USDT0.
That makes GHO more than a borrow asset inside @aave. It is becoming a stablecoin with a deeper credit base.
A deeper credit base gives GHO more room to scale.
Jeremy Black retweeted
Excited to be bringing stablecoins to Canada! 🇨🇦
My personal goal is to move my personal Norbert's Gambit volume onchain this year on Tempo.
CADD is live on Tempo.
@TetraDigitalGrp's CADD is the first Canadian dollar stablecoin issued by a regulated financial institution, approved by Alberta Treasury Board and Finance, and backed by National Bank, ATB Financial, Wealthsimple, Shopify, and others.
Jeremy Black retweeted
New deployment that puts @aave at then center of the massive @okx user base across @wallet, @XLayerOfficial, and more.
Jeremy Black retweeted
Whop shipped 6% yield to 21M users. Most of them have no idea it's DeFi.
If you haven't heard of @whop, they're like Shopify, Patreon, and Udemy rolled into one for the internet generation.
21M users, $3B+ in payouts, growing 255% year over year.
Their new Treasury product enables balances to earn up to 6% on @aave through @veda_labs via an integrated self-custodial wallet on @Plasma.
The user just sees a number going up every second in their Whop dashboard, with zero crypto friction.
Classic DeFi mullet.
While congress debates whether stablecoins should be allowed to pay yield, Whop shipped yield through lending markets, sidestepping the debate entirely.
Everything is a bank.
Any platform with float can offer yield as a feature.
This is the same threat to deposits that banks have been lobbying against, except this one is less in their control.
Users are on Whop because that's where they earn. Now they can grow their balances there too.
It's only a matter of time before Whop enables spend (cards) and credit (they can already see your revenue).
This is the consumer equivalent of merchant banking, and banks will need to step up the utility of their offerings in order to compete.
Jeremy Black retweeted
Aave Labs is strengthening its Product and Enterprise Sales teams, and we’re hiring with open roles!
Senior Product Designer
Staff Design Engineer
Senior Design Engineer
Staff Smart Contract Engineer
Product Marketing Manager
Sales Engineer
Director of Enterprise Sales and Partnerships
Business Development Associate
We’re a product-driven company focused on bringing DeFi to millions of users and institutions around the world by building the most compelling DeFi products.
Apply at aave.com/careers
Jeremy Black retweeted
Yesterday was another significant stress test to Aave's +$50B onchain lending markets.
Aave Protocol liquidated over $140M collateral across multiple networks without any issues, fully automated demontrating (yet again) the market leader protocol resiliency.
Aave will win.
Jeremy Black retweeted
My thoughts on the recent Aave DAO discourse.
The recent proposal is framed as decentralization, but in practice it would handicap the entity most responsible for Aave's success, and it looks almost like a coordinated power grab.
A large part of why Aave became the largest lending protocol was because of Aave Labs.
If Aave had been run as a pure "DAO" from day one, it would have been outcompeted years ago. The protocol operated like a DAO. Labs operated like a company. That division of labor and resources has worked extremely well while competitors with "purer" governance models stalled, failed, or disappeared.
Aave the protocol is unconventional - a set of smart contracts governed by a DAO. But because it touches the conventional world, users, regulators, institutions, it does need at least one conventional entity interfacing with that world.
Historically that's been Aave Labs. The protocol and Labs each have had distinct jobs, and evidently they've each been doing them *exceptionally* well (see teapawt.net/StaniKulechov/status/2…)
DAOs are *structurally incapable* of shipping competitive software, or even being competitive at anything attempting to resemble an actual, real business. Every decision becomes a governance proposal, every move requires token holder consensus, and every fast-moving opportunity dies in a forum thread while competitors are actually executing.
And world-class software isn't built by committees of contractors and rotating service providers. It's built by tight-knit, in-house teams with deep context, shared vision, and the continuity to compound their expertise over years.
Aave is special as it's succeeded where others failed. They should be very cautious about forcing changes to the naturally evolved relationship and setup that got them there. It has arrived at a natural, high-functioning equilibrium over the course of many, many years. Uprooting that in the name of decentralization poses a major risk to breaking what actually has been working.
Also most protocols, literally the vast majority, would kill for a founder who not only has stuck around for 8 years when they could have retired a long time ago, but someone who shows up every day and continues to work hard, experiment, innovate, and advocate every single day.
The complete opposite of this is actually the norm. Most founders exit the second they have a chance and they never look back.
IMO the DAO's long-term success depends on Labs staying motivated to build. Weakening that relationship doesn't decentralize Aave it actually makes it much worse.
Stani said it best "... the best way to actually scale the Aave protocol is to build actual businesses on top of the protocol that leverage the protocol and generate more protocol revenue."
This should be the focus, accelerating the application layer, not extracting every cent from every corner of the ecosystem. Hyperliquid did not become successful because they had "the best protocol", they did so because they also had the best application layer, design, and UX (*big* lesson in there).
Finally, and importantly, handicapping Labs and treating it like it should not share in any of the upside of the protocol is, in the long run, bad for the DAO itself as well as the Aave token and Aave token holders.
