A community of Funds, Founders and Allocators.

Palo Alto, CA
Joined December 2021
Uwe Jens Cerron tradersguild.global retweeted
AI data center tenants are now demanding penalties of more than $5 million per day if developers fail to deliver power and facilities on time, up from around $1 million earlier this year, according to The Information.
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Uwe Jens Cerron tradersguild.global retweeted
Banks' deposit flight panic was always wrong. Why? @austincampbell breaks it down to @CoinDesk
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Uwe Jens Cerron tradersguild.global retweeted
People ask: “Are you dunking on neolabs?” Most neolabs will fail. That’s normal. But I believe more AI breakthroughs are coming. I’m skeptical of those following the same playbook as OpenAI and Anthropic. Raising $1B and spending 50% on GPUs doesn’t make you a $10B company. I’m rooting for the contrarians. Challenge scaling laws. Challenge transformers. Challenge how models learn. Challenge the next-token prediction paradigm. My bigger concern is that brilliant researchers don’t necessarily make great founders. In my experience, researchers often struggle to turn their research into great products / sustainable businesses.
Heard from a neolab friend: “Even if we fail to train the best model, we locked in GPU capacity early. H100/B200/B300 rental prices have since gone up 2–3x. We can just resell the compute and print money.” OK, so that’s the business model.
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Uwe Jens Cerron tradersguild.global retweeted
We are in the middle of a meaningful supply shock in tokens per unit compute. First margins increase like crazy, looking like fantastic businesses. Second, firms bid up GPUs and semis to capture the margin. Third, the market floods with supply and prices drop. Macro 101.
Replying to @brandonjcarl
Same thing shows up on one node. Our A100 40GB box went from 2,182 to 4,235 tokens per second with software only. The rent stayed put and the tokens per hour nearly doubled.
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Uwe Jens Cerron tradersguild.global retweeted
1/3 Railway leaked customer env vars on Oct 21, and @tayvano_ caught the drainer first. I traced it end to end with @goldrushdev: 22 chains, 231 wallets, $381K. Every drain was signed with the victim's own key. Stolen private keys, not phishing. github.com/uwecerron/railway…
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Uwe Jens Cerron tradersguild.global retweeted
Fertilizer through Hormuz has dropped to zero. No fertilizer cargoes crossing the strait in September or October. Before the war, about 20% of the world’s traded nitrogen fertilizer went through it, Fertilizer Daily reports. The Gulf also supplies about half of the world’s traded sulfur. Hear me out: urea isn’t the problem. China raised its nitrogen exports about 47% and the US about 60%. By the end of August urea was back to its January price, IFPRI data shows. Sulfur is the problem. It has more than doubled, to above $1,000 a tonne, and phosphate is up 25–30%. You need sulfur to make phosphate fertilizer. Mosaic has idled two Louisiana plants, and India’s fertilizer subsidy bill could pass 3 trillion rupees, against 1.71 trillion budgeted. Oil found other ways out of the Gulf. Sulfur hasn’t. source: World Visualized
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Uwe Jens Cerron tradersguild.global retweeted
The real-world asset (RWA) market is becoming increasingly diversified across blockchains. Ethereum remains the dominant network, accounting for more than 40% of RWA market cap, but its share has fallen nearly 30 percentage points over the past year. Solana, BNB Chain, Stellar and Avalanche are among the networks gaining ground as tokenization expands beyond Ethereum. H/t @cryptounfolded
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Uwe Jens Cerron tradersguild.global retweeted
Replying to @traders_guild
Wait a sec. 🤔 I’ve heard this before.. That’s from StarCraft: It’s referencing two races of very different characteristics. Zerg vs Protoss.
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Uwe Jens Cerron tradersguild.global retweeted
Did Elon short $CRWV as well? 😓
Replying to @Yuchenj_UW
I think we’re going to see a lot of stranded compute in partially complete data centers
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Uwe Jens Cerron tradersguild.global retweeted
Hard to see how hardware that fully pays for itself in less than 3 years and has significant residual value will result in low returns on capital.
There's lots of demand for travel, so airline capacity keeps growing, even though airlines are bad businesses that don't earn their cost of capital and are constantly squeezed by oil, wages and aircraft costs. NVDA = Boeing/Airbus + GE/Safran (order-book pricing power, plus recurring aftermarket) 
Memory = refiners (windfall profits when supply is tight, until the cycle turns) 
Neoclouds = aircraft lessors (levered, contracted bets on the residual value of depreciating assets) 
Shells/power/cooling = airports (nothing flies without them, so they get built) 
Models = airlines (huge capex, price wars, compute is jet fuel, researchers are the pilots' union) 
Apps that own the customer = Booking.com The frontier models are fighting commoditization but market forces are trying to commoditize them. If demand for intelligence is there (which it is), then the buildout will continue, even if returns are poor for many of the players. Travelers win. Airlines rarely do.
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Uwe Jens Cerron tradersguild.global retweeted
Remember that Elon now has an incentive to say this. He is essentially a competitor of the Neoclouds.
Replying to @Yuchenj_UW
I think we’re going to see a lot of stranded compute in partially complete data centers
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Uwe Jens Cerron tradersguild.global retweeted
i own a relatively new (2025) samsung tv. i kept getting weirdly targeted ads. i tried reversing the firmware but it was aes encrypted and no keys unless tear it apart and do uart/jtag magic. zero days it is. root shell on new samsung TVs! discovered PRIVACY HORROR. write up?
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Uwe Jens Cerron tradersguild.global retweeted
Man uses Astra to find a C.IA backdoor into Samsung televisions. Gets banned by OpenAI within 24 hours.
i own a relatively new (2025) samsung tv. i kept getting weirdly targeted ads. i tried reversing the firmware but it was aes encrypted and no keys unless tear it apart and do uart/jtag magic. zero days it is. root shell on new samsung TVs! discovered PRIVACY HORROR. write up?
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Uwe Jens Cerron tradersguild.global retweeted
if you have a qwen3.5 4b around, please try steering neurons L14 N8949 +1 and L13 N7956 -1 now you have evil qwen recipe: dose × median(‖resid‖ leaving layer L, tokens 1:) / ‖W_down[:, n]‖` at the down_proj at every input
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Uwe Jens Cerron tradersguild.global retweeted
I shouldve become an inference provider
One answer to what's driving GPU rental prices: Token demand on OpenRouter is up ~27x since last November, from ~6T/week to ~165T/week Open-weight models now handle ~72% of those tokens, up from ~28% last November Charts of the Week: a16z.news/p/charts-of-the-we…
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Uwe Jens Cerron tradersguild.global retweeted
If you're wondering why GPU prices are going up ... algorithms have become wildly more efficient while prices haven't come down nearly as much. There is a major "arbitrage" right now between token prices and GPU rental rates. This means that the price of tokens goes down (supply up) while the price of GPUs goes up (demand up). @opencode is one of the top providers of tokens outside of the frontier labs. Let's suppose they're using a GB300 NVL72 and ballpark the price at $5 million. DeepSeek v4.1 Flash 1017: • 98% input tokens at effective in of 0.82c per million. • 2% output tokens at 60c per million. • Weighted average = 2c per million. Revenue = 6.77T x 2c / million = $136,000 / day. This would be circa double the $38 / hour that DeepSeek reported. If the GPU Rack was $5 million then then the payback for "just" the GB300 is 37 days. Obviously there are other costs but this gives you an idea.
in the last 24 hours this rack - handled 6.77T tokens - p50 TTFT was 1.16s - p50 TPS was 143 unfortunately p95 isn't looking great because one of the trays is flakey but as soon as we get it replaced...this is gonna be amazing
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Uwe Jens Cerron tradersguild.global retweeted
Replying to @AIQuanting
It’s not unique to DeepSeek at all. OpenRouter has fantastic data on this.
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Uwe Jens Cerron tradersguild.global retweeted
Elon just ruined the mood for all my neolab and neocloud friends out there.
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The purity of essence vs the purity of form.
There’s a really pronounced divide between people who are on the AI side of things and people who are on the biology side of things. Even among people working in AI, the divide persists based on where they’re focused. The AI side, adherents of scaling laws and the bitter lesson, believe that AI getting better means AI being more capable of novel discoveries in medicine (that go beyond discovering new drugs in well understood targets or speeding up dry lab work etc). The biology people think the idea of a bitter lesson in biology is kind of ridiculous and that regardless of AI’s capabilities it’s going to be at least 5-10 years until you could hope to reliably simulate human toxicology in silico (right now AI/ML can’t even reliably simulate in vivo studies like binding affinities or functional assays). Even the most AI pilled of them, who will list all the areas that AI can reduce the time spent on various areas, don’t think the concept of AI discovering novel targets or generating new understanding of causal biology is realistic in the near term. Most, in fact, will readily characterize the assumption that even an “ASI” level model could find cures hidden in our current understanding (without expanding that understanding with significantly more biological data) as patently false. This was a big part of why we wanted to experience it ourselves by using AI for a (very) small portion of what it can do in biology. It was both mind blowing and revealed some poignant insights into how different the problem of making AI better at something like coding is to the problems of biology. Even if it unlocked the ability to generate new molecules at a stunning pace, its simulation (in silico) of binding only had 49% accuracy. And if we wanted to improve that, we’d need to feed it back the data from the lab - data that took about 30x as long to get as it took to generate the molecules. And these were tests in a test tube (turn of phrase), imagine how long it would take if we wanted to improve the model with data that required recruiting humans and monitoring their reactions. Human biology is very complex, and adding a drug - especially a novel drug and doubly so for a novel drug acting on a novel mechanism - means mapping interactions that have nth-order-effects that we don’t have the data to predict. Virtual cells have made advancements enabled by AI, but the perturbations equate to a small fraction of the possible. This is before you even get into curing disease, especially uniquely human diseases. Brain function involves cellular identities that are unique to humans, meaning animal studies are of little use. How long does it take to understand what the side effects of chronic administration of a drug in humans are? AI can speed up analyzing the data, or designing the trial or even getting it approved…but it can’t make a 6 month trial complete in 3 months. I think its important to point out that significant advancements can be made in AI that contribute to biology, while also being realistic about how much it speeds up something as complex as curing a specific cancer or diseases of the brain.
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Uwe Jens Cerron tradersguild.global retweeted
I'm bullish on AI infra AND I still think 80%+ of neoclouds won't make it to 2030. I'm a lawyer. I spend most of my waking minutes in GPU contracts. This is why...
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