The White House Accord on Super Intelligence will have a positive impact on safety. Committing to hire third party auditors who will report to an independent committee of board members has more practical near term significance than almost any conceivable regulatory action. These board members will have a fiduciary duty. If they ignore a report from the third party auditors then a bad faith finding from a court is a real possibility. A D&O carrier could use this to deny coverage. Really good outcome for ordinary Americans. More effective and elegant than some ridiculous new regulatory body that would take months to do anything, then almost certainly done the wrong thing and along the way probably created a regulated oligopoly at the frontier which is the scariest potential outcome* As I read the articles about the accord, it did occur to me that they were mostly written by political reporters who may have not understood the significance of the accord given their reporting beats are generally focused on public policy instead of corporate governance. *Scariest because I do not trust any 5-20 individuals to make the best possible decisions about the direction of this technology. I want as many AIs as possible to maximize the odds that they encompass the diversity of human values across the world and richness of human variation. And I want an AI that shares my own personal values. Safety, freedom and the maximization of human agency through democratization, distribution and diffusion vs. centralization. History has spoken on the dangers of the latter path. **Also SI not AI still adapting to the change but I do think better branding. Who wants artificial ingredients in their food?

BLOCK APPLIES TO LAUNCH FEDERALLY REGULATED BITCOIN AND STABLECOIN TRUST BANK Block $XYZ has applied with the OCC to establish Builders Bank & Trust, an uninsured national trust bank focused on custody and fiduciary services for assets including bitcoin and stablecoins. If approved, the bank would operate under a national regulatory framework but would not take deposits or make loans. Block says the charter would help it scale digital-asset custody services under consistent federal supervision.

I did NOT engage in insider trading in Congress. Here are the facts. 🚨 Under the Stock Act of 2012, members of Congress must publicly disclose stock transactions. My investments were managed through a fiduciary agreement with my broker. I did not direct the trades or have advance knowledge of them and every transaction was reported as required by law. Those disclosures use broad value ranges, which can make investments appear much larger than they actually are. But my records are public for everyone to see. I also supported legislation to ban congressional stock trading. And that ban shouldn’t stop with Congress, it should include the President, Vice President, and executive branch officials, where government contracts are actually signed. Watch full video:

$IRDM / $RKLB: Brodsky & Smith Announces an Investigation of Iridium Communications Inc 😆 Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Iridium Communications for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to Rocket Lab for $54 per share in a cash and stock transaction, representing an enterprise value for Iridium of approximately $8.0 billion. The investigation concerns whether the Iridium Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the proposed transaction is paying fair value to shareholders of the Company. Gotta love these "investigations"

🚨 NEW: A Delaware court says Bolt must advance its former CEO’s legal fees in a lawsuit Bolt itself filed against him. Bolt sued ex-CEO Maju Kuruvilla in California over alleged misconduct and breaches of fiduciary and confidentiality obligations. Kuruvilla turned to Delaware, arguing a 2022 indemnification agreement required Bolt to fund his defense. (Justia Law⁠) The Court of Chancery sided with Kuruvilla, ruling that his advancement rights survived his 2024 separation agreement. Bolt also has to cover the legal fees Kuruvilla incurred enforcing those rights. (Justia Law⁠) So Bolt must advance the cost of suing its former CEO and the cost of his defense against Bolt’s own lawsuit. The agreement allows repayment if he is ultimately found not entitled to indemnification. (Justia Law⁠)

Closing the markets with @BlackRock. 🔔 BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, they help millions of people build savings that serve them throughout their lives by making investing easier and more affordable.

Pharrell Williams is seeking to have Chad Hugo's lawsuit against him dismissed, which his lawyers call “vague and ambiguous.” His lawyers say Hugo’s latest complaint names EARTHGANG’s “U Gotta” in its copyright ownership allegations but leaves out eight titles previously listed in that section. They argue he still hasn’t clearly explained his contributions or which copyrights he claims to own. Titles no longer listed in the complaint: ▫️ “Motomami” ▫️ “La Combi Versace” ▫️ “Cash In Cash Out” ▫️ “Love Is Not Written” ▫️ “Pure” ▫️ “Real One” ▫️ “Lost and Found” ▫️ “Freestyle” Pharrell's lawyers question why those details are still unclear after years of disputes and three versions of the complaint: “In fact, as incomprehensible as it is, it appears that Hugo has no idea which compositions or sound recordings he supposedly authored – even though he claims to have been there, right by [Pharrell's] side, the whole time.” If the copyright ownership and related accounting claims are thrown out, his lawyers also want the remaining state-law claims dismissed without prejudice. Those include breach of fiduciary duty, two accounting claims, and declaratory relief over LLC operating agreements. That would leave the door open for Hugo to pursue those state-law claims in state court.

Chamath Palihapitiya (@chamath) puts a hypothetical Anthropic IPO at $1 trillion or less in rough numbers, versus maybe $2 trillion for a clean deal. "If I were on the board, I would keep Dario as a CEO ... He's built essentially the greatest business ramp in all time." "You're just going to have to water down the expectations of the IPO sellers and create a much larger margin of safety for the IPO buyer." "I'm just giving out rough numbers, right? Even if you think that they're on $100 billion run rate, what would otherwise in a very clean sheet IPO maybe would have been a $2 trillion market cap. Now, you know, you're at one or less." "The hedge funds and the pension systems and the long only mutual fund complexes, who have a fiduciary responsibility to their sources of capital, will justify all the risks by essentially asking for a lower and lower price." "It's probably going to clear at a much lower price than anybody thinks." "These other risks are going to weigh on the IPO. And the only way to flush them is to just bring the price way down." - Chamath Palihapitiya, Social Capital founder, on the All-In Podcast. Uploaded September 26, 2026. The valuations are his own rough estimates. In the same answer he says he recruits against Anthropic for talent.