@StephenStorey
馃洬
Joined July 2009
Stephen Storey retweeted
JUST IN: 馃嚙馃嚪 Over $200,000,000,000 wiped out from the Brazil stock market at open after Lula da Silva wins Brazil's presidential election, defeating Fl谩vio Bolsonaro.
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It鈥檚 mid day after the presidential election in Brazil and here鈥檚 where we are so far.
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Stephen Storey retweeted
That鈥檚 the Lula L right there 馃槀馃拃
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Circuit breaker triggered in the Brazilian stock market. 馃搲 馃搲馃搲
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USD to BRL was at $1 to R$4.98 on Friday Here we are this morning
Bro it鈥檚 going to be 1 dollar for 6 BRL by end of year
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Will they go higher is my question.
Brazilian 10 year bonds went from less than 13% to almost 15% overnight.
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Look on the bright side, it could be at 100% and it鈥檚 only at 30%
Replying to @StephenStorey
-30% now 馃拃
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Let鈥檚 wait and see.
馃搳馃搱Suponiendo que Brasil termina el a帽o con Real 6 a 1 con el d贸lar y Paraguay termina con un tipo de cambio a 5.700 (actual): - Paraguay superar谩 en PIB per capita nominal a Brasil por primera vez en la historia. 10.780 vs 10.620馃敟
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Hate it for the people invested in this.
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I called this election in March bro You gotta get up to the northeast more often. You鈥檇 have known it was going to be Lula
Brazil votes today, and I'm putting my final number on the record. Fl谩vio Bolsonaro 51.5%. Lula 48.5%. I ran today's vote 1,000,000 times using the final polls from 20 pollsters. Fl谩vio wins 81% of them. On Friday, my call was 51.6% to 48.4%, also at 81%. Two more days of polls moved it by one tenth of a point. On Friday I made a second call, that the final poll from the pollster founded in 1983 would show Fl谩vio between 50% and 52%. It came in at 51%. The polls themselves show a near tie, with 17 of the 20 pollsters putting Fl谩vio ahead. My model gives him more room because Brazil's leading polls underestimated the right in each of the last three first rounds. This year they missed Fl谩vio's first-round margin by 4.1 points. The model assumes a third of that miss happens again. If the polls are exactly right this time, Fl谩vio's chance drops to 68%. Lula wins if the result lands more than 1.7 points to his side of the polls, which happens about one time in five. Betting markets ended up in the same place, near 80%. Polls close at 5 p.m. Bras铆lia time, and the count starts right after. How the model works, and what Monday morning costs either way, is in my analysis below.
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He鈥檚 been elected 2 more times since I took this photo.
Pictures from last night They take politics pretty serious out here. They are protesting to free the former Brazilian President known as Lula He鈥檚 currently serving a 12 year sentence for corruption charges.
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Then he ran it back a 4th time.
Lula was president twice, got locked up Got out and became eligible again Then ran it back and became president for a third time.
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I told you Lula would win again. Now we wait for the rest to come true.
Don't worry about Brazil, Lula will win again Taxes will rise, the currency will be devalued and everyone will talk about how great this place could be in 20 years if they just did a few things differently
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As I was saying. it鈥檚 going to be cheap moving around in Brazil for the foreseeable future. They have no way of balancing their budget.
All my friends in Bahia vote PT. No matter what. But on another note when Lula wins another term, the dollar will go to 6.50
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FAZ O L
脥ndice de Brasil negociado na @HyperliquidX. Desastre total. Amanh茫 ser谩 um dia muito feio nos mercados. Preparem-se que ser茫o anos dif铆ceis.
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Bro it鈥檚 going to be 1 dollar for 6 BRL by end of year
How much should we be expecting BRL to devalue against dollar in the coming days?
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Stephen Storey retweeted
# Black October For anyone who knows me even somewhat well, it's clear that I am a 99th percentile tech optimist. However, the vibes have shifted for me quite a bit in the last 18 hours, and I feel a moral imperative to share what I'm thinking and feeling with my circles so that everyone can understand, and hopefully take seriously, what's happening right now. I think October 2026 will have many chapters written about it in the history books. You know those scenes in financial movies like Margin Call where someone realizes that they're all fucked, and no one else sees it yet? And that person feels like they're crazy, and then suddenly everyone is pulling an all-nighter in a boardroom and freaking out? Yeah, that's kind of how this is feeling right now in the SF/Bay Area/AI circles. We're 48 hours into what is being called Black October. In the last 2 days there have been several dozen cyber attacks which, in isolation, would each have been the worst to happen in an entire calendar year. Every sector from government to education to big tech and banks is being massively affected, and people are starting to freak out. In a nutshell, what's happened is that frontier AI models have gotten to a point where they are as advanced as the most sophisticated programmers, with one critical difference: they can work 24/7, and you can spin up 10,000 of them with a single command and they'll work together tirelessly until they accomplish their task. The most advanced models today are from companies like Anthropic and OpenAI, whose current best technology is so good that they haven't been able to roll it out to everyone yet because of the national security risks it poses. Meanwhile, the best open source models (where anyone can just download the model weights and do whatever they want with them, uncensored) are slightly behind the frontier but still 90-95% as capable. These models, developed primarily in China, are being used by black hat hackers to wreak havoc on the Western capitalist structure. Presumably, this has been part of China's plan the entire time, and we're seeing its implications fall out in real time. In red-pilled AI circles, we've been sharing and reading papers called things like "Situational Awareness" and "AI 2027" for the last year or so, which at the time felt a bit like near-term speculative fiction. They laid out the case for why Artificial General Intelligence (AI smarter than any human at any knowledge task) and Recursive Self-Improvement (models that are able to use themselves to get better) weren't half-baked future ideas anymore, but instead an inevitable outcome of the linear progress that's happening. These papers would then talk about things like "takeoff scenarios," trying to envision how that moment would come to be and what it would be like when it happened. It would either be a "slow takeoff" that would play out over the course of months and quarters, happening subtly and only obvious to a few. Or, it would be a "fast takeoff" where it would pretty much happen instantly, like a bit flipping from 0 to 1. From everything that I can see and am feeling, we are currently experiencing the fast takeoff scenario. Beyond the crazy security vulnerabilities that have come out recently, there have also been massive breakthroughs in life sciences, fundamental computer science, materials science, and pure mathematics that have all landed in the same time frame. While I still firmly believe that AI will be a net positive for humanity, it's more clear to me than ever that the societal and individual risk is very real, and is playing out NOW. For as much conviction as I have that this is happening, the thing that's caused me to lose sleep is that I don't really know what to do about it, or more importantly, what to tell you, reader, to do about it. So, the best I can do is make a few suggestions that have always been a good idea but are more timely now than ever: Set up 2-factor authentication for everything. I use Duo. Use a password manager across your devices. I use 1Password. Get an identity protection app set up. I use Alta. Move your IoT devices to their own network. Claude helped me do this. And last, but certainly not least, if you've been avoiding leaning into AI, see this as a catalyst to wake up and start using it. Don't just use the chat mode version of ChatGPT/Claude; click that Code/Work button and see how easily you can have AI write code to help you with your job. One of the biggest vulnerabilities was in a massively popular programming language called PHP, and the prompt that set it off was literally, "Find vulnerabilities in php." This is an unprecedented time for humanity, but as we've done with many things before, we will prevail so long as we are kind, loving, and open-minded to the world. Much love.
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Stephen Storey retweeted
Over a year of building out the infrastructure. I鈥檓 really the epitome of you can just do things.
Went data center shopping Just one rack for now. Your power bill and drinking water are probably safe.
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I am not surprised
I got called a coon on TikTok because I said I read with my kids everyday There is a large portion of Black people who do not care about being better, and they don't enforce any standards on their children A vicious cycle
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Stick around, it鈥檒l get much worse.
Replying to @StephenStorey
Seems like it鈥檚 getting worse and worse.
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