David

Opus 4.

Wait, what?

Sub five, like sub five person unicorn?

Totally.

And I've seen like the direct impact in the private market.

Like I've seen

a few teams or even individuals, like one person teams who had managed to ship smart contracts into production, build the entire front end.

And then obviously they're doing the BD themselves as well.

And it's like, it's possible.

This was never possible before.

Now, like I'm definitely not saying don't, don't vibe code a smart contract and deploy it into production.

Please don't do that.

But like I've even talked to some smart contract auditors and they've been blown away by how effective Opus 4.5 has been in particular at writing high-grade smart contracts.

So, you know, it's almost like the technical mode in many ways is diminishing and, you know, distribution becomes a lot more of the edge in many scenarios.

Obviously, there's edge cases here to do with like privacy and whatnot where engineering is still very important.

Um, but yeah, I mean, uh, I'm super bullish.

And of course, you definitely don't need nearly as much capital.

And that's a good thing.

I think crypto is, by and large, over the years over-raised for a lot of things.

So it's actually pretty refreshing that people need less capital to do a lot more.