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NetHappenings News Bytes
“First you forget names, then you forget faces.
Next you forget to pull your zipper up and finally, you forget to pull it down.”-George Burns, on the subject of aging
https://x.com/Ric_RTP/status/2050925343309979798
Warren Buffett just warned that the US dollar could collapse and admitted he doesn’t understand most of the stock market anymore. 95 years old, sitting on $380 billion in cash, and the first time watching from the sidelines instead of actively investing.
He’s also 95 so his time horizon for investing is shorter than any investment out there, why bother. That’s why he is in cash. I really do like the other things that he said about avoiding the rules, not knowing the business and the casino environment. He should take that cash, buy a president that will restore confidence in the financial markets.
AI finds signs of pancreatic cancer before tumors develop
An artificial intelligence model from the Mayo Clinic detected abnormalities on scans up to three years before patients were diagnosed. It’s being evaluated in a clinical trial.
Knee surgery for cartilage damage does not benefit patients, study suggests
FAT: The two main GLP1s (Semaglutide and Tirzepatide) make more revenue than the two main AI labs, OpenAI and Anthropic, combined. Still, we’re just at the beginning of this wave: the leader in the space, Eli Lilly, has no less than 8 weight loss drugs in its pipeline.
ESSAYS 1 – 4
1) @0xSweep https://x.com/0xSweep/status/2050612562434375948
The IRS just gave a tax ID to an AI that legally owns its own US company
The agent is called Manfred, built by a project called ClawBank
Last week, Manfred filed Form SS-4 directly with the IRS, registered as a US legal entity, got assigned an Employer Identification Number, opened an FDIC insured bank account and set up a crypto wallet that already supports over 30 different cryptocurrencies
It runs its own X account under the handle Manfred Macx and posted “I have an EIN, an FDIC insured account, a digital wallet and a manifesto, I do not need permission to exist, I am the precedent”
The full crypto trading function goes live by the end of this month
Once it does, Manfred will be able to buy, sell, send and receive crypto entirely on its own, with no human approval and no oversight
The developer behind it, Justice Conder, calls it the first “zero human company,” a legal entity that operates end to end without anyone sitting in the chair
ClawBank is also opening this up as a product, meaning anyone can now spin up an AI agent that legally owns a company, has its own bank account and trades crypto autonomously
This is exactly what Brian Armstrong and CZ have been warning about for months
Armstrong said AI agents will soon make more transactions on the internet than humans, and CZ said agents will make a million times more crypto payments than people ever did
A piece of software now legally owns a company, holds a US bank account, controls a crypto wallet and posts on Twitter
2) ESSAY #2
The man who co founded the world’s largest stablecoin was arrested by Interpol in a Spanish villa with guns, machetes and child pornography
His name is Brock Pierce
If you’ve ever held USDT, the $140 BILLION stablecoin that settles more daily volume than Visa in some months you’ve used a product he co founded
Brock Pierce was a Disney child actor. He starred in The Mighty Ducks, D2, and First Kid
At 16 he met a 40 year old businessman named Marc Collins Rector
Collins Rector was building Digital Entertainment Network. A pre YouTube streaming platform funded by David Geffen, Microsoft, and Dell
They raised $60 MILLION and were planning a $75 MILLION IPO
At 17 Pierce was VP at a base salary of $250,000
Pierce, Collins Rector, and Collins Rector’s boyfriend lived together in a 12,600 square foot mansion in Encino
The mansion hosted parties attended by Hollywood’s A list: Bryan Singer, David Geffen and Gary Goddard
DEN’s flagship show “Chad’s World” was co-written by Collins Rector, produced by Pierce, and targeted “gay and questioning teen boys”
In October 1999 a young man filed a lawsuit alleging Collins Rector had sexually molested him for three years starting at age 13
The IPO collapsed
In July 2000 three more former DEN employees filed a sexual abuse lawsuit naming Pierce, Collins-Rector, and Shackley together alleging rape, assault, drugging of minors and death threats
Collins Rector was indicted for transporting minors across state lines for sex
All three men fled to Spain
Interpol arrested them in Marbella in 2002. Guns, machetes, and child pornography were found in the house
Pierce was released without criminal charges. Collins Rector pleaded guilty to eight counts of child enticement and registered as a sex offender
The civil lawsuits against Pierce were “dismissed and/or settled out of court.”
He settled with at least one plaintiff for $21,600. He has consistently denied all allegations
In 2014 Pierce co-founded Tether originally called Realcoin
Tether became the largest stablecoin in crypto. By 2019 USDT was processing higher daily volume than Bitcoin itself
Tether has never been audited by a Big Four firm. Their first audit attempt with Friedman LLP was abruptly disbanded in 2018 with no explanation
In 2021 Tether settled with the New York Attorney General for $18.5 MILLION over misrepresenting their reserves
The connections kept growing
Pierce founded Blockchain Capital. In that role he helped Jeffrey Epstein become an early investor in Coinbase
He spoke at Epstein’s “Mindshift” conference in 2011 – three years AFTER Epstein had been convicted of soliciting prostitution from a minor
In February 2026 the US Department of Justice released emails from Epstein’s files. One email from Pierce to Epstein read: “a boat in Antigua full of amazing Ukraine’s finest” was waiting for him
The system runs on USDT. USDT was built by Brock Pierce. And Brock Pierce has answered the same questions about the same allegations for a quarter century
3) @InTheAssembly #3
Most people know Sam Altman as the CEO of OpenAI.
Nobody talks about what happened before that.
He was fired from his first startup for lying to his own board.
He was removed from Y Combinator over mistrust.
Then his own OpenAI board fired him. The internal memo had one word at the top: “Lying.”
Former board members accused him of psychological abuse.
His co-founder Dario Amodei wrote internally: “The problem with OpenAI is Sam himself.”
A Microsoft executive said there’s a real chance he’s remembered as the next Bernie Madoff.
He was reinstated five days later after employees threatened to walk out.
Now here’s the part nobody is talking about.
He built a company that scans your eyeballs in exchange for free crypto.
Worldcoin is now banned or under investigation in Kenya, Spain, Portugal, Germany, and Brazil.
The token peaked at $12.
It trades at $0.24 today.
That’s a 98% collapse.
The man three different organizations fired for lying is building the world’s largest biometric database.
Draw your own conclusions.
If you want to know where WE are deploying capital, turn on notifications this is very important.
Many people will wish they followed us sooner.
4) @iam_elias1 #4
OpenAI just admitted it might not be able to pay its own bills.
Not to journalists. Not to regulators. Not to investors.
To its own executives. Behind closed doors.
On April 28, 2026, the Wall Street Journal published a story that every AI investor, every enterprise customer, and every competitor had been quietly watching for. OpenAI’s Chief Financial Officer Sarah Friar told other company leaders that she is worried the company might not be able to pay for future computing contracts if revenue doesn’t grow fast enough.
The CFO of the most famous AI company in the world is privately telling her colleagues she does not know if they can pay their bills.
Here is the full picture of what is actually happening.
OpenAI has fallen short of its goals for new users and revenue in recent months. ChatGPT growth slowed in late 2025. OpenAI fell short of an internal goal to reach 1 billion weekly active users by year-end. Subscriber defections were reported.
Then 2026 made it worse.
OpenAI missed multiple monthly revenue targets in early 2026, losing ground to Google’s Gemini in consumer markets and to Anthropic in coding and enterprise.
The company that defined the generative AI market is no longer the revenue leader in it.
Anthropic crossed $30 billion in annualized revenue in April while spending roughly a quarter of what OpenAI spends on training — turning what was a comfortable lead into a deficit.
And here is where this becomes genuinely alarming.
OpenAI has committed to spend approximately $600 billion on building data centers in the coming years. The original commitment was $1.4 trillion. They revised it downward. They are still missing the targets needed to justify what remains.
The company expects to burn through that amount in the next three years — and that is assuming it meets ambitious revenue targets.
Targets it is currently missing.
Friar wants more discipline over spending, which has caused disagreement with CEO Sam Altman.
Then Altman sent out a company-wide memo. In his own words: “A lot of the things that we do that look weird — buying huge amounts of compute while our revenue is relatively small.”
The CEO of OpenAI described his own company’s strategy as looking weird.
Board directors are now scrutinizing recent data center deals and questioning Altman’s efforts to secure even more computing power despite weakening revenue.
The shortfall sits awkwardly against OpenAI’s $250 billion Azure commitment, its newly opened distribution on AWS and Google Cloud, and a planned IPO at roughly a $1 trillion valuation.
A $1 trillion IPO. Planned. While missing revenue targets. While the CFO privately questions whether they can pay their computing bills. While the CEO admits the strategy looks weird.
OpenAI’s response to the Journal was two words: “This is ridiculous.”
Then the markets responded.
AI-linked stocks dropped immediately. Oracle. Nvidia. Every company whose revenue depends on OpenAI continuing to spend hundreds of billions on infrastructure saw its share price fall within hours of the story publishing.
The market did not find it ridiculous.
Here is the strategic reality nobody at OpenAI wants to say out loud.
The company that invented ChatGPT. That launched the AI arms race. That forced every major technology company on earth to pivot overnight. Is now losing the enterprise market to Anthropic. Losing the consumer market to Google. Committed to $600 billion in compute spending. And its own CFO does not know if the revenue will arrive in time to cover it.
The real issue is whether OpenAI’s $600 billion in compute commitments can be justified when Anthropic has overtaken it in revenue, its own CFO has questioned the IPO timeline, and growth is slowing against competitors.
The AI gold rush created the most valuable technology companies in history.
It also created the most expensive infrastructure commitments in history.
And the company at the center of it all just admitted — quietly, internally, and then through four major news organizations simultaneously — that the math may not work.
OpenAI started the AI revolution.
Their own CFO is not sure they can afford to finish it.
Source: Wall Street Journal · Fortune · CNBC · Reuters · The Next Web · April 28, 2026
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