Building markets for AI infrastructure to make compute tradable. Founder: https://teapawt.net/t.co/akMlgG0SUC Co-Founder: https://teapawt.net/t.co/VjCTiCdnbt Married to @AshMcGovern
Bethesda, Maryland
Joined April 2011
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Updated county-level 2024 U.S. Presidential Election results here:
#election2024 #election2024results #ElectionResults
github.com/tonmcg/US_County_…
Securitized commercial mortgages come with physical addresses, occupancy rates, names of the occupants, whether their loans are current, and property appraisals.
No such mechanisms for GPUs exist today.
Seems inevitable to me that all the private credit lending to neoclouds for GPUs is going to want to securitize those loans, move risk off their balance sheet.
If I’m a buyer of securitized opps I’d want to know how the lenders verified that the GPUs they think secured their loans actually exist and are performant.
I suspect there are a lot of bad loans out there.
What’s striking about this scene is that John De Lancie’s father was the pre-eminent oboist of his generation, occupying the principal oboist position in the Philadelphia Orchestra for decades and then became director of the Curtis Institute of Music, arguably the most prestigious music conservatory in the world.
The younger John De Lancie undoubtedly grew up being surrounded with world class musicians.
'Deja Q' is a season 3 highlight of TNG of mine, Q is one of my favourite characters, and this episode is hilarious.
#StarTrek #TheNextGeneration #StarTrekTheNextGeneration #StarTrekTNG #Picard #Riker #Q #Worf #Geordi #DeannaTroi
(#TNG 3x13)
Holy shit
BREAKING: Binance has been hacked with wallets across the Ethereum, Bitcoin, and TRON networks seeing outflows of -$5.7 billion.
The hack includes $1.45 billion worth of Bitcoin and $875 million worth of ETH.
If confirmed, this would mark the biggest hack in crypto history.
We expect more information shortly.
Tony McGovern retweeted
I am mid-flight right now and I have just received the news that Sir Patrick Stewart has left us. Modern technology is both an impressive and an extremely cold thing. Internet databases have already begun referring to him in the past tense. “Sir Patrick Stewart was…” and such a surreal sight hangs heavy on my heart.
Patrick was a friend. Not a close one, mind you, but it was a friendship, an “acquaintanceship” perhaps, that spanned more than half my life.
Ann Cook Calhoun was an extremely well published and well known Shakespeare scholar who also happened to be a dear friend of my family. A better way of describing our relationship is that she became something of a fairy godmother to me, taking an early interest in my education, both financially and academically.
Ann and Patrick had been dear friends for many years (since their mutual involvements with the Royal Shakespeare Company) and she often told me that I reminded her of a young Patrick. Of course, I always thought the comment was her way of being encouraging. Once, when I was attending the graduate Acting program at Columbia University, Ann came to New York with my parents and took us all to see Patrick play Prospero in a Broadway production of “The Tempest”. That was the beginning of my association with Patrick and, in that one evening, I saw what an artist and a professional truly looked like.
Flash many years forward, and you can imagine our mutual surprise at finding ourselves in the very small club of Enterprise Captains. Just… I’m not sure there’s another word for it but “bonkers”. Every time we saw one another, Patrick and I couldn’t help but marvel at this strange serendipity and how Ann, God rest her soul, would have been over the moon at this kismet. While I always thought that Ann had just been doing me a favor, I eventually realized that she really had seen something in me that would, for whatever reason, prove a connection to her dearest old friend. God, I loved her.
Like I say, I didn’t know Patrick incredibly well, but I always knew him to be generous and gracious to a fault. Our first time appearing together as captains was at the network up-fronts in New York. I had arrived late because of my production schedule so I didn’t get to rehearse our bit on stage before we walked out to the lights and cue cards. Of course, I completely missed my mark and had to adjust which made the entire audience laugh. Patrick held his opening line, looked at me and made a gesture as if to say, “You good?” I nodded vigorously, which seemed to elicit another laugh and he nodded back as if to say, “Alright then.”
Patrick had presence, generosity and good grace to spare, and along with an incredible intellect, he brought those qualities not only to Jean Luc, but into a lived integrity that made him an exemplar for lost, young actors looking for a way. I’ll always love him for it. I’m just sorry that was our one and only moment on stage together. Even our turn together in “Dr Strange” was pieced together in post. Why? Because he was shooting Star Trek: Picard” and they couldn’t get him off the set. Jean Luc was if not his first love, his deepest.
Oh well. Perhaps in the next play, in the next theater, he’ll hold a small, nameless roll for me and I will carry that spear with delight.
Bravo, Patrick. I will miss you dearly. Until next time… Engage.
My wife and I have a now two-decade running joke based on this scene. When reprimanding our children, we often say to them (in the most stentorian Patrick Stewart voice):
“The line must be drawn here. No farther!”
Tony McGovern retweeted
Patrick Stewart was spectacular.
He brought Shakespearean gravitas to space and helped make Star Trek a dramatic powerhouse. This scene is a masterclass in screen acting: he displays two distinct emotions at once, and does it beautifully.
We’ve lost an absolute titan.
Patrick Stewart, Master of Shakespeare, ‘Star Trek’ and More, Has Died
nytimes.com/2026/10/29/arts/…
Like others of my generation, I grew up watching Patrick Stewart play Captain Jean Luc Picard in the Star Trek: The Next Generation series. My daughters and I are fans of the Star Trek universe, partly because early on we were so moved by his splendid portrayals in that series. We still rewatch many TNG episodes to this day.
Among our favorite TNG episodes is "Lessons", one that explores the many facets of human connection. While Picard recognizes that the captain's chair relegates him to a life of solitude, he nonetheless opens himself up to a deeper, romantic connection to a subordinate through music. Throughout the episode it becomes clear the personal connection must be severed and Picard must fully surrender himself to his isolating fate.
Stewart capably portrays a lovelorn man duty-bound to the service with equal parts grace and vulnerability. In anyone else's hands, this episode would unquestionably suffer from the eye-rolling campiness many other Star Trek episodes evoke. But when Stewart did it, you could feel Picard's bereavement in your bones.
I'm so lucky that an actor of extraordinary talent lent his gifts to a silly science fiction space odyssey that I get to share with my daughters.
In lieu of flowers, memorial contributions may be made to:
Johns Hopkins Alzheimer’s Disease Research Center Fund
alzresearch.org/giving/
Alzheimer’s Foundation of America Caregiver Resources
alzfdn.org/donate/
Photo Credit: Tommy Garcia
Tony McGovern retweeted
Today, in collaboration with Anthropic, we’re excited to share rapid initial progress towards an antibody treatment for food allergy, which affects over 200 million people worldwide, discovered with the help of Claude.
At Divergence Labs, we believe that AI can unlock the next generation of antibody therapeutics with more effective mechanisms than before. Such mechanisms are urgently needed in food allergy, which involve overcoming one of the tightest affinity protein pairs in immunology, IgE and its receptor FcεRI, on mast cells.
Treatment with Xolair—the only approved antibody for food allergy—sequesters circulating IgE, but mast cells remain sensitized for weeks to months due to the extraordinarily slow dissociation of IgE from FcεRI.
We envision a treatment that actively pulls IgE off of FcεRI, without waiting for natural dissociation. Like picking a lock, this requires the right combination of geometry and force.
Our research team, working with Claude, ideated on mechanisms to accomplish this disruption, and converged on an antibody format with two arms with different functions and epitopes. Within one month, we designed, synthesized, and experimentally confirmed the biophysical function of the two arms, which we are now assembling into full therapeutic formats.
Chess masters who embrace AI learn to think about the game differently and more deeply. This seems to me like a giant leap forward in human progress.
We're past the point of arguing whether the best minds on Earth can compete with AI on anything. AI wins. Full stop.
We're at the point where the best minds use AI to help them be better at the margins. Again, not to compete or try to beat AI, but use AI to increase their understanding and be better than other humans.
the mathematicians pushing back on AI say that it might help with proofs, but not our HUMAN UNDERSTANDING of math.
so I got curious how chess players think AI engines help them better understand chess.
and found this clip of Magnus Carlsen:
“the neural nets have improved our understanding of the game immensely.”
watch his HUMILITY towards these engines:
“it’s just that my understanding is not good enough. And that is useful.”
“I rarely play against engines at all because they just make me feel so stupid and useless.”
I'm an AI bull but GDP growing by 15% yoy. That's ... insane.
Two greats join our bet:
- @dwarkesh_sp on the explosive-growth side
- @Thom_Wolf on my side
benjaminmoll.com/growth_bet/
Total pot now $700k 💰
Making the case that the GPU hour should instead be the collateral rather than the physical GPU itself
Tony McGovern retweeted
Pretty much.
As of the past few weeks, debt markets have almost entirely shut off access to money for any company that doesn’t have substantial revenue independent of AI data centers.
SpaceX closed $40B of debt for GPUs, but we’re investment grade and have Starlink & launch revenue.
That means the 200+ neoclouds are going to see guppy-level death and consolidation. Some will make it through, but not many.
Tony McGovern retweeted
As someone with a portfolio of energized land assets here is what I am seeing:
1. Neoclouds are disorganized and poorly capitalized. Some are definitely better than others however.
2. Hyperscalers are intractable, bureaucratic organizations that take 3 months to do an NDA and want 18mo escrow periods. We built our portfolio by competing against these terms because of our speed and simplicity. The more future assets orgs like ours win, the bigger the problem for the hyperscalers downstream (see 3).
3. There are delays in the existing pipeline that will catch people off guard in 2027. Hyperacalers will (obviously) react by focusing on their own internal compute needs over any third party. If the third party is a model company, they will tell them to go through their model router where they will also take a non-trivial vig. Them telling Ant they have no compute for them (rumored in Ant’s S-1) if true is a huge tell that this is already happening.
All of this is to say that it does look like there will be a lot of partially stranded compute and compute sitting in inventory in 2027 than is currently forecasted. This is bought and paid for but effectively underearning (below total cost of capital) or collecting dust. We see this as true for everyone - model companies, hyperscalers, neoclouds except ONE (you can guess which one).
This dislocation will benefit two kinds of orgs: the non-bureaucratic big scalers who can build industrial scale quickly and the nimble, well capitalized players feeding them.
2027 will be a turbulent year because it will clear out a bunch of wrong/bad bets. It will also be a consolidation year for a few.
Tony McGovern retweeted
I grew up playing tennis competitively, and two years ago, before two kids, I was still pretty good (9 UTR). I’ve been getting back into it, but I wish I had a world-class coach telling me what to work on. But good coaches are expensive, selective, and hard to find, whereas models are cheap, available, and should be already good enough. So clearly, @nicochristie and I needed to explore what's possible.
We chained open-source models post-trained on tennis. This cut each broadcast down to live play, found and tracked the players, ball, court, and labeled every stroke with its type and a 65-joint skeleton. We then post-processed this data into 30+ biomechanical traits across serves, forehands and backhands, normalized for each player’s build and the camera.
This included the goat @DjokerNole, @carlosalcaraz, @DaniilMedwed, @FTiafoe, @AlexZverev, @BenShelton, @Taylor_Fritz97, @NickKyrgios, @AndreyRublev97, @janniksin, and @TommyPaul1.
Using the same pipeline, we then processed phone footage of myself and @phamrich_ (ex-D1, used to be >13 UTR) playing. Then we gave Claude all the measurements with a blank context.
What impressed me:
- Without being told, it found my weaker side (forehand) and Richard’s (backhand)
- It joined differences that looked separate into one root cause per stroke
- My own diagnosis of my forehand was wrong. Claude’s makes a lot more sense
What do you think? @bgtennisnation @paul_annacone @darren_cahill
Drop youtube links here if you want Coach Claude to give you tips
Why hasn’t AI already revolutionized sports analytics?
We turned 34 hours of tennis videos of 11 ATP pros into precise measurements of how each player hits.
We then measured @BrainsAndTennis and @phamrich_. Turns out Claude is an exceptional tennis coach.
offpolicyinc.com/work/claude…
Tony McGovern retweeted
Lots of hot takes on $CRWV's bonds lately. Most of them are either wrong or focused on the wrong things.
Here are the 8 biggest misconceptions about CoreWeave’s credit:
junkbondinvestor.com/p/corew…
Tony McGovern retweeted
Delaying compute futures has a real cost for US innovation. Some of the largest data center lenders have hit their risk limits. Give them a liquid market to hedge compute price risk and they can free up lending capacity. It's the lack of a hedging instrument that has caused credit spreads to blow out.
We support the @CFTC’s commitment to getting this right. The good news is we already have standards for building these markets properly: independent benchmarks, transparent methodologies and regulatory access to the underlying data. Apply them to compute and let well-designed futures move forward.
Our comment letter: regulations.gov/comment/CFTC…