1. The Master Chart: Stablecoin SupplyIf there is one chart that matters above all others when valuing Sky, it is the stablecoin supply chart. Everything else—revenues, buybacks, staking yields, ecosystem expansion—ultimately rolls up into one outcome: how much stablecoin supply the system can sustain and grow over time. Stablecoin supply is not just a vanity metric. It is the closest thing in crypto to a “core product KPI,” because it captures demand, trust, distribution, capital efficiency,...

When it comes to cryptocurrency investments, many investors focus on high returns, fast transactions, or unique technologies. But one critical element that is often overlooked is decentralization — a cornerstone of what makes cryptocurrency truly revolutionary. Decentralization ensures that no single entity controls the network, offering security, transparency, and resilience in the face of censorship or failure. Thanks to BlockIndex.ai, the world’s first decentralized cryptocurrency rating s...

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Last week, we wrote about the Studio Cafe becoming tangible—both cafe AND live animation set designs locking, materials being sourced, timelines tightening. The space that has already become our stage, has become less speculative (a.k.a. less intimidating to stand in) and started demanding real decisions. In short: sometimes you gotta just cut the shit, get out of your own way, and dive in.Where Process LivesIf you know us, you also know that 2/3 of Flannel Donut is Pattern Integrity Films. I...

As I did last year, below is a collection of some startup & personal learnings from 2025.

It’s rare to talk about cancer and use the word "elimination," but with cervical cancer, that’s exactly where we are. We have the tools to make this a disease of the past.

My dad sent me an article from Canoe Financial over the weekend that included the chart below. What it shows is that corporate equities and mutual fund shares now make up a greater percentage of household wealth in the US than residential real estate for only the second time since 1990. From a macro perspective, and when you consider the popularity of index funds, this means that American households probably have a lot of their wealth concentrated in high-growth tech stocks. And since these s...

Today is the wedding day, and the energy feels full in a quiet, meaningful way. I’m honored to be part of the wedding party—not just in title, but in presence. Being in India has already been grounding, and today brings that feeling into focus. I’m surrounded by culture, family, and moments that don’t ask to be rushed. Time with cousins I rarely see, conversations that pick up naturally, laughter that feels familiar even after years apart. The day feels rich, warm, and steady.

Engineering leads and Engineering Managers should definitely read Kaari Saarinen (CEO of Linear) X article entitled 'The disappearing middle of software work' as well as Addy Osmani's 'The Next Two Years of Software Engineering' Drama this week revolved around the unfortunate layoffs at Tailwind with the community rallying back with massively increased sponsorships as well as Anthropic tightening their rules which disallowed competing agentic harness such as Opencode as well as competitors su...