It's #MinorHeat#! Summer break is here, and #PKUCampus# is settling into a slower pace under bright skies and warm sunshine. Wishing everyone a season filled with rest, discovery, and sunny days ahead. #PKUCalendar# #24SolarTerms#

JUST IN: Russia caps bank crypto risk at a strict 1% of capital. • Physical crypto hit hard: spot hedges don't count. • Only local cash futures get lighter rules. • Risk weights force banks to burn extra capital.

#MajorHeat# arrives with bright skies, deep green trees, and the full warmth of summer on #PKUCampus#. As the summer break continues, may these long days bring rest, discovery, and new inspiration. #PKUCalendar# #24SolarTerms#

At Peking University, the Weiming Lake changes with the light— bright in the afternoon, gentle at sunset, and quiet by evening. Each moment offers a different way of seeing the campus. #PKUCampus#

Ben Horowitz and Erik Torenberg with Nas, Steve Stoute, and Grandmaster Caz on the Paid in Full Foundation Caz penned rhymes that became Rapper's Delight. Even with his name in them, he got nothing. The Paid in Full foundation honors the people who created hip-hop by making sure they're "paid in full," financially, spiritually, and culturally. As Nas points out, money alone reads as a handout. So the grant comes attached to the honor. Each year at the foundation's Hip Hop Grandmaster Awards, pioneers are celebrated by the artists they inspired. Caz ultimately received a five-year grant, bought a house, and left the projects. In his words: "The thing is the honor. The thing is putting you in the light that you deserve to be in." Ben says he bought Paid in Full (the album) for $10 and got at least $5 million worth of value out of the record, with no way to pay it back. The vision is paying the debt. Felicia Horowitz runs the foundation. She and Ben are matching donations 2.5 to 1, and every dollar goes to the artists. 0:00 Intro 1:40 The $10 album that was worth $5M to Ben 3:10 Nas: in hip-hop, you can't just give money 5:05 Why artists thought it was a scam 9:30 Caz wrote Rapper's Delight and got nothing 11:40 Roxanne Shanté: "I wanted the right award" 16:35 Dr. Dre asks to meet Kool Moe Dee and Slick Rick 18:50 Why the industry never did this 26:05 Ben: start with what's right, not what's possible 29:10 Inside the room: Grand Puba, George Clinton 32:15 The Quincy Jones Award 37:00 Scarface and Rakim talk writing for the first time 38:45 Caz: the grant got me out of the projects 43:45 What hip-hop did for Adidas, Hilfiger and Sprite 48:00 How Felicia saved Scarface's life 52:10 Quincy Jones stories, and Nas's jazz legend dad @Nas @SteveStoute @GrandmasterCaz @bhorowitz @eriktorenberg