Tim Hwang @timthwang

@eladgil BS. Attention was born in Montréal PyTorch in NYC. AlphaGo in London AlphaFold in London ESMFold in NYC Llama 1 in Paris. Llama 2 in Paris+NYC+SV DeepSeek in Hangzhou Plus: DINO in Paris JEPA in Montréal+Paris+NYC SV is 3 mos ahead on topics SV is singularly obsessed with.

@whollera Soma? Views?

On Tuesday, Nitra, an AI-powered healthcare financial and operational platform, announced a $50 million Series B round, bringing its total capital raised to $205 million. bit.ly/4s3Lwjz

If you’re a physician who wants to modernize your practice or want to help us build the future of healthcare we’d love to hear from you. Appreciate @FortuneMagazine & @CatGioino for the story: fortune.com/2026/03/10/tim… Learn more about the Nitra story: nitra.com/resources/foun…

Doctors are not just service providers. They are the backbone of every community, yet many are forced to act as part-time CFOs, insurance specialists, and procurement officers just to run their practices. They deserve software that works as hard as they do.

Today we’re announcing that @NitraFinance has raised a combined $187 million in financing as we build the AI-native operating system for healthcare practices. We're also announcing that Dr. Richard Park, founder of CityMD and healthcare legend, will be joining Nitra’s Board.

According to @ARKInvest’s research, the most profound application of #AI will be in health care. Deregulation is accelerating this transformation in healthcare. Check out Tempus’s results, reported today.

Shea Wihlborg @Shea_ARK

3 months ago

The FDA just made one of the most significant shifts in its evidentiary standards in decades—and it feels like a lot of people have slept on the news! The FDA will now default to ONE pivotal trial for drug approval, not two. The science of evaluating whether a drug works has

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Thank you to the amazing team at NVIDIA for the fruitful conversations and inspirational look at the future of generative AI. Particularly struck by the willingness to lift up the entire ecosystem and make sure that this amazing technology reaches every corner of the planet.

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I like you Raj, but if you're short you should disclose it before you post stuff. Don't be a douchebag. I've explained multiple times that 10B51s which were set up last year are used to do sell to covers for income taxes on RSUs that vest every month and that my net share position in the company is up. Biz divisions sell at large premiums to trading EV/sales multiples because the underlying business is valuable (recurring revenues, enterprise software, high gross margins, etc.). You were wrong about your PartsID position and you'll be wrong about FN. Just because you barely run a 2 person hedge fund with barely any fees to cover your office rent and Bloomberg terminal doesn't mean anyone should listen to you.

Will look into it (would really like to). Lawyers make doing everything so hard to do in a public company. Probably a good thing in general just a lot of red tape. We're not a giant company with like Tesla or Palantir with armies of lawyers so everything needs to be above board, especially when doing stuff outside of normal earnings calls.

The first sentence of this morning’s New York Times coverage of crypto reads: “Few people own cryptocurrencies,” followed by a detailed critique of deregulation under the new administration (nytimes.com/2025/02/10/bri…). This characterization is both misleading and dismissive of the growing participation in digital asset ownership and innovation. Estimates suggest that somewhere between 25% and 33% of Americans actively own cryptocurrencies—far from a “few.” Just another example of biased narratives that often overlook the transformative potential of fintech innovation, particularly in areas like blockchain technology and digital assets. The crypto ecosystem continues to be a hub for technological advancements that can redefine global financial infrastructure. Instead of minimizing its impact, we should engage in balanced discussions that recognize both the opportunities and challenges in this rapidly evolving space. It’s clear that blockchain has far-reaching applications beyond just digital currencies—applications that could fundamentally improve financial systems while promoting transparency and efficiency. For those of us exploring responsible and sustainable ways to apply these technologies, such reporting does little to advance meaningful discourse.

Whether DeepSeek/Chinese companies violated export controls or they produced novel innovations (both can be simultaneously true), it was always inevitable that the costs of LLMs were going to be driven down exponentially through relentless competition and innovation. Not really worth debating how it happened but what it means. This was always going to be the case whether it was just American companies competing amongst themselves or globally. The simple reality is that competition drives down cost. The real game starts now as the costs of implementing AI continue to get driven down and the ability to implement and extend novel use cases continue to multiply. While OpenAI, DeepSeek, etc get all the mainstream press there are thousands of companies who are working to implement these models into their own use cases and workflows from medicine to law to customer support. If you are one of those companies (particularly startups), your costs will continue to go down and implementing novel AI use cases will continue to become more accessible. The real value of AI was never in the LLMs but in the applications they were going to serve.

@VestaviaCapital @pennycheck @davepotter17211 @kingtutcap Better to consider fundamental enterprise value (what is this company fundamentally worth) not short term share price fluctuations for long dated convertibles. Plenty of strategic options for a company to realize value.

Most of that data wrong: $9M AEBITDA 2024 (five straight quarters of profitability now). Don’t even know what that 1,400% references (probably some accounting from converting from a private company into a SPAC in 2022). Government contracts solid (investors.fiscalnote.com/news/news-deta…) and a portion of SBC expenses from previous year granted stock that continues to vest at higher prices (when stock was granted at $6,$10+ in some cases but is vested over multiple years) and amortized out over vesting years.

DOGE doesn’t run the country. The constitution does. We’re already deeply embedded in the federal government. We have customer contracts with: The White House: Executive Office of the President, National Security Council, Office of Management & Budget (OMB), Office of National Drug Control Policy. Major Federal Departments: U.S. Department of the Treasury, U.S. Department of Health & Human Services, U.S. Department of Justice, U.S. Department of Labor, U.S. Department of State, U.S. Department of Energy, U.S. Department of the Interior, U.S. Department of Agriculture, U.S. Department of Transportation, U.S. Department of Defense, U.S. Department of Homeland Security, Environmental Protection Agency, U.S. Department of Housing & Urban Development, U.S. Department of Veterans Affairs.   Major Federal Agencies/Administrations: National Aeronautics and Space Administration (NASA), The Federal Reserve Board, U.S. Social Security Administration (SSA), Internal Revenue Service (IRS), Federal Bureau of Investigations (FBI), Federal Emergency Management Agency (FEMA), Food and Drug Administration (FDA), Drug Enforcement Administration (DEA), Federal Aviation Administration (FAA), U.S. Agency for International Development (USAID), Centers for Disease Control (CDC), National Institutes of Health (NIH), Consumer Financial Protection Bureau, Immigration & Customs Enforcement (ICE), U.S. Secret Service, National Oceanic & Atmospheric Administration (NOAA), U.S. Census Bureau. Major Federal Commissions: Federal Communications Commission (FCC), Federal Election Commission (FEC), Nuclear Regulatory Commission, Federal Deposit Insurance Commission (FDIC), Commodity Futures Trading Commission (CFTC).  Other Major Federal: U.S. Postal Service, Peace Corps, Amtrak, Office of Personnel Management.    Major Legislative Branch Customers, including: Congressional Research Service Congressional Budget Office (CBO) Architect of the U.S. Capitol Library of Congress U.S. Capitol Police Office of the Clerk, U.S. House of Representatives Major Judicial Branch Customers, including: U.S. Supreme Court U.S. Court of Appeals source: fiscalnote.com/press-room/new… Would learn to read the constitution before criticizing how we run our business.

In the past (think 2017) we saw massive increases in product usage from customers who needed to track the tens of thousands of Executive Orders, regulatory changes, and legislative action that not just from companies but also from the thousands of trade associations, lobbyists, etc in Washington tracking this stuff. Will be even more hectic this go around with a unified White House and Congress. Also expect state legislatures to be in tight political war (particularly in places like Sacramento and Albany) with DC as they try to push back. A lot of whiplash for private sector.

One of the best things the U.S. can do is make high-skill immigration easier. @levie is right. It is awful that the wait time for a green card can be over a decade, and that after waiting years someone can still be forced to leave simply because they lost a job. Fixing this is both an economic and a moral issue. A rigorous economic analysis (by Pierre Azoulay and collaborators) shows that immigrants create more jobs than they take. So to create jobs for Americans, lets let more immigrants in!

Aaron Levie @levie

a year ago

High skilled immigration has been central to America leading the world in tech. The biggest misunderstand about high skill immigration stems from people thinking that the market opportunities in tech, and tech-adjacent fields, are zero sum. This essentially imagines innovation

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Would stop spreading FUD. If you’re short, maybe you should disclose that before posting on X. My share position in the company has net increased this year. All Board members and execs are compensated in RSUs and taxes require the company to withhold social security, FICA, etc. as granted RSUs are taxed as income. If you read the disclosures, you’d know that. I still hold almost 14m+ shares, vesting stock, and options in the company.

FiscalNote $NOTE holders - some thoughts as we get towards the end of the year. It's been an incredible year for the company in 2024 (more below): - We clocked five straight quarters of AEBITDA, with the highest ever/record AEBITDA profit in company history in the last Q - We dropped ~$105m of cash onto the balance sheet this year by selling two non-core products that represented ~11.5% of our GAAP revenues (one company we bought for $10m of cash in 2021 and made a 9.5x cash-on-cash return for shareholders) - We sold those two none-core companies for ~7x ARR and another ~5x ARR (should give you a sense of what we're seeing in the private markets on valuations even though we're trading at 1.5-3x right now) - We used a big chunk of cash to slash half our senior debt - We launched multiple new AI Co-Pilots in the market (youtube.com/watch?v=oFAKdw…) for long term growth - Brought in a new head of product from Casetext (which sold to Thomson Reuters for $650m) - Launched new partnerships with Prorata.ai, building on our partnerships with OpenAi, Microsoft, and Google in the GenAI space - Expanded our customer relationships with the White House, dozens of federal departments and agencies, Supreme Court, etc. as well as major companies in the F500 - Launched a bunch of new services to help customers navigate the new Trump Administration including data and analysis on all the new players, legislation, and regulations in everything from oil and gas to crypto Despite this, my strong opinion (which I've said publicly in earnings) is that the company is completely undervalued on a fundamental basis. We have a clear AI leadership position in our sector.  We generate nine figures in compounding recurring revenue ARR from thousands of customers with retention rates in the mid to high 90s.  We drive consistent, 80%+ high adjusted gross margins.  We have an operational foundation that drives extremely high operating leverage.  We are profitable on an Adjusted EBITDA basis. The markets may not have realized it yet, but we'll just continue to execute and deliver until they do.