Our portfolio company Flipcash shipped a product last month that does something pretty interesting. It takes a little bit from three well-understood crypto concepts and combines them into something new. Like memecoins, anyone can create a new crypto asset in Flipcash. But unlike memecoins, these assets have a reserve and are price-stabilized at their initial value, meaning they can't go all the way to zero. And like Bitcoin, there is a fixed supply of each of them.
The Flipcash website does a good job of explaining all of this as you scroll down the page.
Unlike stablecoins, these currencies can and do appreciate. The more they are accumulated, the higher the price goes.
And you can use these currencies to send/pay others.
I like to think of it as "Venmo With Upside".
A bunch of currencies have been created in the app and a few have grown their values above $100k already.
Some of my favorite currencies are DadCash for dads that hang out together to pay each other and BadBoys for "people who believe basketball should be played the Detroit way".
There are onramps available for ApplePay and GooglePay using debit cards and they are working on offramps now.
The idea is anything you use Venmo for, you can use Flipcash for. But when you use Flipcash, you can enjoy currency appreciation (and depreciation of course).
I am excited to use it for betting with friends on sports and golf and other stuff.
If you want to try it you can download it from the Flipcash website.
Our portfolio company Tasklet is a platform for making agents that do things for you. USV uses it to create agents that automate a lot of work for us. This post, which I mentioned last week, explains how USV uses Tasklet.
Recently, Tasklet launched a feature called Task Computer which is a Linux computer in the cloud that can do things for you and automate them.
My wife, The Gotham Gal, is using Task Computer to log into her Instagram account, go to her Instagram Collections, and pull out all of the information from them and populate a series of databases that her agent can then access to book trips and such.
Having a virtual computer side by side with an agent is such a help for non technical people that can't write API calls and that kind of thing.
If you have things in your life you want to automate but haven't found the right tool yet, try Tasklet. It's great.
1/ USV recruited Spencer Yen about six months ago to help us with USV's "AI Transformation." I wrote this blog post when we launched the search that led us to Spencer.
In about six months, Spencer with the help of my colleagues Nick and Nikhil have completely rebuilt USV's operating system using Claude Code and Tasklet (a USV portfolio company). We have doubled the size of our team at USV without hiring another human.
Spencer published a blog post yesterday about all of this, why, what, and how. You can read it here.
2/ My partner Albert has been thinking deeply about what happens to society when we get Artificial General Intelligence (AGI). He wrote a book about all of this called World After Capital, which he started writing over a decade ago.
Today, he published an economic model that starts to lay out the various scenarios for what will happen to society and our economy in an AGI world.
Albert's model is exactly the kind of thing policy makers should be looking at when they start thinking about how to manage the societal transformation that is underway.