Paul Graham retweeted
We got flying cars, now it's time we get a modern financial system.
Let me Coinbase-pill you for a minute. Financial services is a massive industry. All fintech companies combined capture about 4% of total global financial-services revenues, while traditional financial-services companies account for the remaining ~96%.
Yet the financial services industry is going through two massive technological shifts right now with crypto and AI. This is our opportunity, and the transformation is happening fast.
Crypto is replacing the rails: stablecoins let anyone move money anywhere, instantly and almost free; tokenization lets anyone own any asset; and onchain markets let them trade it around the clock.
AI is replacing the interface: agents will increasingly research, decide, execute, and pay on behalf of people and businesses, putting a capable financial expert in everyone's pocket that can act for you, not just advise you. Together they can give every person and business the financial power that used to belong to a few. Coinbase exists to make that happen in a way people can trust.
Coinbase is using these frontier technologies to build the best modern financial account. Crypto rails, AI interface. Trading, payments, saving, borrowing, etc all in one.
We just released our Q3 earnings, and we set product records across the board despite the tough market. And I’m seeing signs that the market is turning.
Some Q3 highlights:
- We store more crypto than anyone in the world
- We have a global regulatory foundation with 80+ licenses
- 14th consecutive ATH of average USDC in CB products
- 5th consecutive ATH in CB1 subs
Best of all, the everything exchange is working. The progress since we announced last year has been awesome:
- 4th quarter of crypto trading volume market share gains, nearly doubled since this time last year
- $200M+ annualized revenue from prediction markets in Q3, one of our fastest growing products by revenue in history! With >60% daily trader growth QoQ
Jobs not finished until the entire financial system is updated with these frontier technologies.
Paul Graham retweeted
Correlating with some other tweets, the issue seems to have been a supply chain attack to execute arbitrary code on the frontend to cancel/exit all trades (inflating gamblers’ balances) and exfiltrate them to attacker-controlled wallets.
Which: hoohah.
We've identified & fixed an issue impacting our international platform, Polymarket.com. One of our 3rd party providers was compromised, and we have referred this to relevant law enforcement.
Anyone who has been impacted will be made whole.
Out of an abundance of caution, we have temporarily halted trading & are working to bring the platform back online.
I got so involved in an idea I was talking about with Sorin Lerner that I literally fell off my chair. Though honestly it was a pretty badly designed chair...
Paul Graham retweeted
The primary cause of the gender wage gap? Motherhood.
stevestewartwilliams.com/p/d…
Paul Graham retweeted
“It’s very clear Epic owns the market. Its prices are extraordinary. It has killed innovators left and right — it’s time for a change.” A must-read story from Casey Ross and @brittanytrang, who are investigating the electronic health records giant Epic. statnews.com/2026/10/28/epic…
17 yo never listens to us and yet hears everything we say about him, even in a whisper. I think he runs a side process using 2% of his brain listening for his name, and if he hears it, then he actually interprets the phonemes he's been buffering.
Nothing says a country's not a dictatorship like having to issue grovelling apologies for mentioning that it was in the past.
Desde LALIGA lamentamos profundamente las declaraciones de Kylian Mbappé que han causado malestar y ofensa en China. Entendemos el daño ocasionado y, en nombre de LALIGA, quiero trasladar nuestras sinceras disculpas al pueblo chino.
Durante muchos años hemos construido una relación de respeto, confianza y cooperación con China, sus autoridades, sus instituciones deportivas, sus operadores audiovisuales y millones de aficionados al fútbol español.
No podemos permitir que una actuación individual empañe esa relación ni perjudique a los más de 20 clubes de nuestras competiciones profesionales y a millones de aficionados chinos.
Estamos adoptando las medidas a nuestro alcance y trabajando directamente con nuestros socios e interlocutores en China para superar esta situación.
Nuestro compromiso con China, su pueblo y sus instituciones es firme. Una relación construida durante tantos años no puede quedar dañada por un episodio individual.
Readers added context they thought people might want to know
Los historiadores estiman que entre 1958 y 1962, Mao causó entre 15 y 55 millones de muertes, sobre todo por hambruna. Las cifras más citadas rondan los 30-45 millones. A esto se suman cientos de miles o millones más por la Revolución Cultural y otras campañas.
scmp.com/article/723956…
rfa.org/english/commen…
Someone I know who was just on a grand jury explained that this is their whole point. They exist to prevent the legal system from being abused for political purposes. So while they're usually rubber stamps, when pushed too far they say no.
Grand juries hardly ever reject prosecutor requests for indictments, but it keeps happening to Trump's politicized efforts to prosecute his enemies. The lastest case involves his former aide who gave damning testimony about the Jan 6 attack on the Capitol. trib.al/9o3Ho8E
There was no word for it at the time, but the reason Seinfeld was so good was that so many of its themes were what we now call memes. They were iconic. Not that there's anything wrong with that.
If anyone needs their hair cut really fast in midtown, I recommend the King David Barbershop on West 57th. I was in and out of there in about 12 minutes. And yet Jessica approves of the result.
Took 14 yo to the Museum of Natural History and I think we saw everything in it. Even New York City Birds. We were in there for 5 hours. He really likes natural history.
How NYC seems different from when I lived here in the 90s. Much richer and cleaner, lots of tall skinny new buildings, every sidewalk smells like weed.
Paul Graham retweeted
This book is really damning for Kushner. It claims the UAE paid Kushner $50 million to get Rex Tillerson fired as Secretary of State.
One of the most unexpected things about YC is how long we continue helping the founders. Even though we're generally the first investors, we're the ones still advising them 10 years later. I think it's because we're the investing analogue of old friends.
One week left to apply to YC Winter '27!
YC founders get:
🔸 $500K in funding
🔸 $12M+ in tokens, credits & deals
🔸Partners who were founders first, and are in your corner for life
🔸 Access to the best founder community in the world
🔸 Demo Day in front of thousands of top investors
Apply by Nov 2: ycombinator.com/apply
Thanks to Sandy Riddick and his friends for inviting Jessica and me to visit Columbia. It was interesting to talk to a small group of students around a table instead of a large group in a lecture hall.
