The Hivemind

Is the AI trade getting crowded?This week on Hivemind, Delphi Ventures Partner Tommy Shaughnessy joins the show to debate one of the biggest questions in technology and markets today: can OpenAI and Anthropic justify their valuations, or is open-source AI about to take market share?The team discusses enterprise AI spending, the economics of frontier models, the rise of open-source alternatives, SpaceX's IPO, the AI bubble debate, Hyperliquid's continued growth, and the latest developments surrounding Zcash and the private Bitcoin thesis.TIMESTAMPS00:00:00 Introduction & Market Outlook00:05:00 OpenAI, Anthropic & Enterprise AI Spending00:08:53 Open Source vs Frontier Models00:24:41 Are We In An AI Bubble?00:35:17 SpaceX IPO & Equity Issuance00:38:13 AI Regulation & Political Risk00:53:36 Hyperliquid & HYPE01:04:14 Zcash & The Private Bitcoin Thesis01:13:16 Final ThoughtsLink to our Youtube: https://www.youtube.com/@Delphi_DigitalFollow Ceteris: ⁠https://x.com/ceterispar1bus⁠ Follow Jason: ⁠https://x.com/3xliquidated⁠ Follow Tommy: https://x.com/Shaughnessy119Follow Jose: https://x.com/ZeMariaMacedoFollow Kevin: https://x.com/Kevin_Kelly_II

Markets are green, AI is reshaping software in real time, and crypto is once again debating what token ownership actually means.This week on The Hivemind, the team breaks down the market melt-up, Zcash’s explosive move, the rise of AI agent infrastructure, Cursor’s rumored $60B acquisition, and the growing tension between equity and token holders after the Houdini controversy. They also dive into Pump’s buyback changes, Strategy’s latest BTC playbook, and why AI-native workflows could completely disrupt traditional SaaS.Timestamps:00:00 – Markets rip higher as geopolitical fears fade02:20 – Strategy, STRC dynamics & Michael Saylor’s BTC comments09:50 – Zcash breakout, privacy narratives & alt rotation15:40 – Venice AI (VVV) and the AI x crypto trade23:00 – Cursor’s rumored $60B acquisition & AI business models30:30 – AI agents replacing traditional software workflows40:30 – Why SaaS companies may be vulnerable in an agent-first world41:30 – The Houdini controversy & crypto token holder rights52:00 – Pump’s buyback changes, burns & token economics debate1:03:00 – What’s next for Pump, meme coin markets & crypto productsLink to our Youtube: https://www.youtube.com/@Delphi_DigitalFollow Ceteris: ⁠https://x.com/ceterispar1bus⁠ Follow Jason: ⁠https://x.com/3xliquidated⁠ Follow Yan: https://x.com/YanLibermanFollow Jose: https://x.com/ZeMariaMacedoFollow Kevin: https://x.com/Kevin_Kelly_II