A 9,281% Return, AI Shell Game, and the Invention of Modern AI

The Social Leverage Letter | Issue #132

Get smarter faster with our curated list of thought-provoking content for founders and investors:

3 articles, 1 podcasts, and 1 video.

Was this email forwarded to you? Sign up here.


Multicoin's crypto hedge fund has seen a remarkable turnaround, delivering over 9,000% returns to its investors since 2017 after suffering a loss in 2022. The fund attributes its success to the resurgence of the cryptocurrency market, particularly in 2023, with a return of 537%. Despite challenges such as the collapse of FTX, the firm remains optimistic about the future of crypto investments, emphasizing the potential of liquid tokens in public markets.

Microsoft will pay $650 million as a "licensing fee" to host Inflection's AI on its Azure cloud platform and acquire its team, seemingly to avoid antitrust issues. This move aligns with Microsoft's strategy to dominate the AI market and mirror Google's success with Android by having its software ubiquitous across devices.

The article recounts the collaborative effort of eight Google researchers in 2017 to develop the revolutionary "transformer" architecture for artificial intelligence. Despite the challenge of determining authorship order, they published the paper "Attention Is All You Need" with equal attribution. This breakthrough, later celebrated as seminal in AI, led to the development of transformative AI products like ChatGPT and Dall-E. Though the team has since dispersed, their work laid the foundation for advancements in AI technology.




Explore openings at our portfolio companies:

Featured Job: