Chapter One @chapterone

today we're sharing @mercury crossed $1b/year in revenue i joined 5 years ago right as we hit $10M/year and ~20k customers - the curves looked exponential, product was beautiful and people were great so I jumped in. "A 10x is just a 3x 2x 2x" @immad told me a few times now we're powering >1 in 3 startups and defining the next era of business and personal banking through the software we build, agentic capabilities we empower, and new products in accounting/payroll/invoicing we're launching. just getting started!

immad @immad

18 hours ago

Excited to announce @mercury crossing $1bn/yr in revenue and 450k customers. Just getting started! x.com/i/article/2112…

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$1b in spend on the @ether_fi card, wild! I think this is one of the products that can bring crypto mainstream. The first $100M took almost a year. The last took 22 days. Grateful for our team and customers along the way, onwards! 🚀🚀 Fun facts: ether.fi/one-billion

ether.fi @ether_fi

3 days ago

It’s about to happen👀 Take your guesses when ↓

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One day soon people will wake up on @goformic & @samanfarid. Already deployed in 150+ factories & have made incredible progress over the years. We've been partners since 2020, and they were building in robotics & making progress before the hype.

Saman Farid @samanfarid

7 days ago

Working with @physical_int, we are bringing general purpose robotics models into the places that need them most —- the factories that make things we all need and use. 150 factories using Formic robots and counting!

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It was fun spending some time talking about investing in @Mach_Industries and backing @ethanrthornton. One of the most underappreciated defense companies right now, and they’re in Southern California, which makes it personal for me. What’s public is a fraction of what’s coming.

Morgan Barrett @MorganBarrettX

6 days ago

30 days of Hard Tech: Day 7 🚀 Mach Industries with Jeff Morris Jr. (VC at Chapter One) Mach announced their Series C at a $3.7b valuation as they expand well beyond their original vertical takeoff strike drone, Viper "Ethan (founder of Mach) is a savant. He's 22 years old

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30 days of Hard Tech: Day 7 🚀 Mach Industries with Jeff Morris Jr. (VC at Chapter One) Mach announced their Series C at a $3.7b valuation as they expand well beyond their original vertical takeoff strike drone, Viper "Ethan (founder of Mach) is a savant. He's 22 years old but when you're talking to him you feel like you're talking to someone who's been in the industry for 30 years." "You meet these special founders every so often in your career and you figure out a way to get in business with them" "It's not a secret that they have ambitions beyond pure defense... if you look at Mach as a hardware and manufacturing company, that opens up a lot of adjacent possibilities"

actual footage of how the 1v1s between GI’s models and whatever Elon is cooking will go (yes these are our vision based models)

Elon Musk @elonmusk

a week ago

@teslayoda We’re making interesting progress here. Digital Optimus can play about halfway through the Diablo campaign so far just by looking at the screen like a human. Skill at Counter-Strike and other fast games is good too. League is also in training. Goal is to generalize across

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BULK is one of the fastest growing derivatives exchanges A 8% compounded daily growth, on avg $350k in net OI added per day since launch Global derivatives represent roughly $1 quadrillion in outstanding notional. At $100B+ in open interest, perps represent only around 0.01% of that scale In the last few months Perps have already demonstrated substantial demand and price discovery during non trading hours. As more of traditional finance catches on to perpetuals, I believe capturing more than 10% of the broader derivatives market over the next few years is possible But to get there, we (onchain) need the risk infrastructure that tradfi has spent decades developing: that allows institutions to manage complex portfolios. SPAN is part of that history. Used since 1988 across exchanges and clearing orgs worldwide, it puts portfolio risk and eligible hedge offsets at the centre of margining Cme's portfolio-margining programme alone averaged $8.4B in daily margin savings during 2025, with savings exceeding $10B per day at the beginning of 2026 That is billions of dollars in lower collateral requirements through better portfolio risk management In the next few years, there wont be a distinction between trad and defi. But if we want to make that happen, we have to do better We, as a industry should offer the beautiful features of blockchain to risk infrastructure built through decades That is the direction we believe onchain derivatives should take to grow: recognise useful hedges, charge for the risk that remains, and account for what it would cost to close positions under stress. Ultimately, that means helping traders use their capital more efficiently BULK brings that portfolio-risk philosophy onchain through its own margin model. A long BTC / short SOL portfolio can receive margin credit because the positions partially offset. The credit depends on sizing, correlations and risk conditions, while leverage constraints and closeout reserves remain in place We are so early, To bring the world of derivatives onchain, we need to learn, adapt and build a better system For us at BULK, the job is clear: build and share the best risk systems onchain, and shove it down tradfi's throat Over time, we want to bring that same margining philosophy to a broader set of instruments: swaps, forwards, options and other OTC derivatives, alongside interest-rate and FX futures and options Accelerating, tick by tick.

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Fastest growing bank in US history

Financial Times @FT

2 weeks ago

Palmer Luckey’s Erebor surges to more than $7bn in deposits since launch ft.trib.al/nM9CSbn

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Palmer Luckey’s Erebor surges to more than $7bn in deposits since launch ft.trib.al/nM9CSbn

I'm dedicating the next phase of my investing career to building the deep tech ecosystem in Los Angeles. Last week I interviewed three @chapterone founders leading it: @rsgharat - bohrsystems.us @tfeldmann - @DurinMining Ankit Ukil - Alfred Legends in the making.

Excited to co-host a GP/LP poker night with @RackhouseVC and @Theoryvc in SF on Oct 21st ♠️♥️♣️♦️ DM us for an invite! cc: @jmj @SpencerFarrar @novakkm @brendanbaker

This is a good explanation of what we do at @gen_intuition, and why it’ll be a big unlock. We train general agents who are great at pixels to actions, partially using world models as a way to scale data and capabilities. If you’re interested in joining us, reach out!

What happens in IC doesn't stay in IC.

Jeff Morris Jr. @jmj

3 weeks ago

Notes from Investment Committee (October 1, 2026) Two weeks of IC @chapterone: why VC has a long memory, robot geese, and how we ended up one degree from the Pope. Welcome to IC...

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Our General Intuition said double down. So we did. 🎮

General Intuition @gen_intuition

3 weeks ago

General Intuition has raised another $220M at a $6.2B valuation as we start making our models available. These are an entirely new class of foundation models, trained on billions of action-labeled videos, capable of acting in realtime in never seen before environments. 1/6

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Last Thursday was epic 🔥 We brought together 200+ founders, investors, and operators from across the NYC tech scene for poker. Nearly 1,000 people registered & it was the first large-scale event for Table Stakes run by @jackson_feder. Left feeling so incredibly grateful to be surrounded by some of the smartest people building in tech. Some highlights: - Doubling up through @Erik_Seidel with AA vs. JJ (thankfully didn't knock him out for the 1k bounty) - @tonypezzz stand-up comedian skills during the final table - @TheFundCFO, our CFO, having a huge final table sweat and finishing 2nd - Freeze-out structure making everyone take it super seriously - @asadighi helping lock down such an epic venture at NeueHouse Penthouse - The collab between funds & sponsors: @LererHippeau @chapterone, @khoslaventures, @usv, @SignalFire, @MetaPropNYC, @leftlanecap, @vcnycre, @rhobusiness, @purepokerapp, @edge_marketsio Excited to run it back next year 🚀🔥 @jackson_feder, @MauriceRusso_, @asadighi, @j__fort, @jacob_bulbulia, @tonypezzz, @katieruthmishra, @uninsightful, @katieruthmishra, @jmj, @Lizzy_Harrison, @PartenDrewL, Ken Lau, @tonypezzz, @PartenDrewL To hear about the next event, sign up here: luma.com/4lsxe49t

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Select 26 Build Stage agenda is out and this one is packed too guest speakers from OpenAI, Stripe, Shelf, Svix, & Postman see you in SF next week: select.supabase.com

It's hard to truly describe just how deep the motivation is for me to work in education. But if I were to try, this episode with Luba would be a great start.

luba yudasina @LubaYudasina

4 weeks ago

Gagan Biyani (@gaganbiyani) on the one-sentence pitch that got him to step down as CEO of his own company to build The Horowitz Andreessen Academy (@theacademysf): "My board member at Maven is @andrewchen. We have a regular call. And Andrew's like, hey, there was this idea

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@gaby_goldberg @jordanodinsky @jmj @TaliaGold 🙏🏽