TLDR Tech / Crypto
Venice ($VVV): The Bubble's Mirror
Venice is the structural inverse of closed AI lab valuations: OpenAI and Anthropic require the model layer to stay premium, a premise now being arbitraged away as Chinese open-source models grew from 1.2% to 30% of global usage in 2025. Venice carries zero training cost, TEE-attested cryptographic privacy (vs. OpenAI's policy-based model, which was implicated in a Mixpanel/DNS exploit leaking customer data), and a buyback-and-burn mechanic that has eliminated 42% of genesis supply. Growing agentic payment rails concentrate demand on KYC-free inference providers, and Venice's metrics reflect the thesis: 50B tokens/day, VVV up from $2 to $18 over three months, DIEM discount compressed from 57% to 32%.
Read the full story