.@HadickM says local agents are a rounding error. Tarun says open source always starts ugly. Rob: "you can absolutely use Hermes and, like, set up a local agent" "the amount of capital they have is gonna be essentially de minimis" "I like Hermes, but took me way too much time to get it to the right place" Tarun: "It always starts kind of shitty UX-wise and always improves over time" "No one wanted to use the sanction trading agents, right?" "We should just acknowledge that all commerce is gonna look like crypto"

Rob Hadick (@HadickM) joins Jon Ma and @ElBarto_Crypto for a deep dive on the stablecoin dogfight. 1:34 How $OUSD affects Rob's stablecoin thesis 10:51 Why people may be too bearish Circle 22:21 Future market share: banks, Tether, Circle 28:04 Mesh, Rain, and card infrastructure 30:42 Can the 🇺🇸 win the World Cup? Thesis by Artemis, episode 1

Dragonfly GP @HadickM says your AI agent may end up choosing your bank for you, and today it’s more likely to recommend Mercury than JPMorgan: "It seems quite unlikely to me that anything built on top of Plaid is going to be able to do a lot of mass movement on a regular basis of any sort of money." "What I think is more likely to be true is that you'll have a bank that's agent first." "If you ask your LLM what bank should you use that is agent friendly, they'll tell you Mercury. They won't tell you JPMorgan." "A financial institution that controls those different accounts and is able to monetize those different accounts, that is AI first and agent first, that is where you're likely to see a lot of this happen." @dragonfly

Dragonfly GP @HadickM says Netflix, Planet Fitness, and telecoms could lose real revenue once AI agents start auditing your credit card charges and canceling forgotten subscriptions: "A lot of companies depend on there being sort of a long tail of customers that never cancel. Companies like Planet Fitness." "Netflix stock is down 19%. Planet Fitness was down a lot. A lot of the wireless carriers were down a decent amount as well. And I've used the agents for that as well." "It's not that the money is going away. There are a lot of people accruing value, but the surplus is changing and it's shifting." "The concern is the surplus will continue to shift from banks to fintechs and to people who have other types of distribution and are more consumer-friendly." @dragonfly

Prediction Markets Are Becoming Institutional Hedges⁣ ⁣ @HadickM, Partner @dragonfly_xyz, on Tokenized with @sytaylor said: ⁣ ⁣ “The possibilities are endless on the institutional side.”⁣ ⁣ One trade worth hundreds of millions hedged inventory risk for a football team using a World Cup outcome. This may look like sports betting but it is a real economic activity. ⁣ ⁣ 🎙️ Listen to the latest episode on Tokenizedpod(dot)com⁣ ⁣

LATEST: ⚡️ Dragonfly's Rob Hadick says stablecoins could grow 10x as payments adoption expands, arguing they "collapse the legacy payment infrastructure and reduce the dependency on intermediaries."

“Value investing  is a way to lose money” @HadickM says markets are increasingly rewarding flows, storytelling, and venture-style upside over cash flows and traditional valuation. Buy the winners. Price growth. Ignore value.

Our guest for Monday's Tokenized Podcast @sytaylor and @HadickM are joined by: 👉 @Sikes_, COO @public 👉 @ethanyish, co-founder and CEO @AlliumLabs Out on Monday at 8am PT / 11am ET / 4pm GMT Find it on 𝗔𝗽𝗽𝗹𝗲 𝗣𝗼𝗱𝗰𝗮𝘀𝘁𝘀, 𝗦𝗽𝗼𝘁𝗶𝗳𝘆 or 𝗬𝗼𝘂𝗧𝘂𝗯𝗲 by searching "Tokenized Podcast" 📷 💙