Davidzmorris

@davidzmorris

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Thread: This week at Dark Markets, we took a little swerve into one of the most punishing of all marketplaces: jobs. As a writer on the verge of the extremely rare professional milestone of publishing a major book, I thought it was important to share my rather winding, improvisational path to the top of my field. The past decade-plus has seen young people targeted with “grindset” and “hustle culture” content that tells them they must get rich as fast as possible – and cut corners at every opportunity. But of course, this is all a grift – the influencers are selling a seductive lie, not a real strategy. Grindset can’t create actual success, because shortcuts also leave you short on the skills, knowledge, and purpose it takes to thrive long-term. https://davidzmorris.substack.com/p/the-long-road-imagining-a-slow-career

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The first issue of my new joint newsletter with stablecoin, regulatory, and risk guru Austin Campbell is live! This is the longform version. "Your mind would be absolutely blown by the places a VPN, some USDC, and a dream will take you in the world of exotic DeFi markets." https://www.zero-knowledge.com/blog/stablecoins-arrive

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In my mid-forties, I'm about to fulfill a lifelong ambition of publishing a book with a major publisher. That's coming a bit later for me than it does for some professional writers – so I wrote a deep dive into my gradual, experimental approach to building a career. The message feels particularly important as AI looms over the future, and with cheating and shortcuts increasingly accepted. My message is the opposite: doing the long, slow work is the only way to truly thrive. https://davidzmorris.substack.com/p/the-long-road-imagining-a-slow-career

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I've had a few subscribers request/need it, so a question for the room: What's the best service I can use to mirror my substack (preferably as automatically as possible) but offer subscriptions using crypto? I can't run entirely on a crypto rails, but I'd like to offer an option.

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https://davidzmorris.substack.com/p/this-is-your-brain-on-chatgpt

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Tomorrow's Dark Markets: Surveying a week of disturbing reports of LLMs harming cognition, driving people insane, possibly infecting @Mattel toys, and tricking its own biggest fans into swallowing a fake research paper whole. Newsletter signup: davidzmorris.substack.com

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New from Dark Markets: exactly how fucked is Tesla? https://open.substack.com/pub/davidzmorris/p/elon-musk-ran-out-of-leverage?utm_source=share&utm_medium=android&r=1dfyo

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Just submitted the FINAL final draft of my book about Sam Bankman-Fried. Coming in October from Repeater Books. I'll definitely be sharing here as soon as pre-orders are live. There will also be lots of readings - mostly in NYC, but if you'd like me in your neck of the woods, I'm open to suggestions!

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Apple has released a new research paper showing that LLMs can't reason. It's a major blow to the worldview of many AI boosters.Large Language Models, trained on large amounts of existing human language or images, are the basis for tools like ChatGPT. Current AI leaders like Sam Altman have said LLMs can be the path to "AGI," or Artificial General Intelligece - superintelligent machines that can mimic all human cognition. But LLMs are not built to understand anything - merely to measure and then mimic. And LLMs have been hitting a peformance wall - that's why we have seven "GPT 4.x" models, but no "GPT 5" - 5 is meant to indicate the achievement of AGI. A new concept called "chain of reasoning" or "chain of thought" has been implemented to help LLMs reason. Apple tested these newer Chain of Thought LLM models - also called Large Reasoning Models. https://davidzmorris.substack.com/p/apples-llm-debunking-has-the-agi

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New today at Dark Markets: Analysis of the new Apple paper showing breakdowns in LLM/LRM reasoning ... and why Apple's cautious AI strategy was the smart play in the end. https://davidzmorris.substack.com/p/apples-llm-debunking-has-the-agi

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Table of Contents for "Stealing the Future: Sam Bankman-Fried, Elite Fraud, and the Cult of Techno-Utopia." Coming October 2025 from Repeater Books

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I got the chance to do something journos basically never do anymore: write a 5,000 word (20 page!) account of U.S.A. v. Karony. (#safemoon) We've gotten some truly passionate feedback on it - there is still demand for this kind of deep dive. But the business model is gone. Please support Protos and myself, we're both increasingly rare birds. https://protos.com/long-read-how-john-karony-went-from-visionary-to-convicted-fraudster/

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Special Edition of Dark Markets this morning: why John Karony and Sam Bankman-Fried are so different I've spent years thinking about SBF and FTX - a dark, strange, frankly disturbing story. By contrast, Karony and #SafeMoon are almost comforting. https://tinyurl.com/2by5cbuj

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Safemoon criminal trial update: https://x.com/davidzmorris/status/1925193536510546319?t=cWiDxDxRtwngeTFemX4WEA&s=19

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Coming tomorrow in Dark Markets

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It's still in development, but I have finally reclaimed my personal website from squatters. Lots of old crypto articles going back to 2013, along with fiction, research, and even some old music: https://davidzmorris.com

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Some quick lunchtime impressions from Day 1 of the SafeMoon criminal trial, U.S. v. John Karony. Key point: Karony’s court-appointed defense lawyer is far better than you'd assume. https://youtube.com/shorts/4uHa873-eUs?si=qHNfwbausYF8PItO

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Tomorrow's Dark Markets is a banger.

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Just jury selection in #safemoon today, but a few insights: - Trial expected to run May 6-May 26 - Figures relevant to the trial include parents Bradford and Jennifer Karony. This doesn't mean they'll testify, but it's possible. - Companies relevant include Binance, Central Bank of Utah, and Ronin real estate and Crypto groups. More details coming in Dark Markets. Link in Header.

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New today: Sam Bankman-Fried’s life was shaped by the Effective Altruist case for “Earning to Give” - taking well-paying jobs, like in finance or tech startups, rather than directly trying to make the world a better place. https://tinyurl.com/3tnbdf6v It’s a perversely conservative argument - a way to reconceptualize service to the status quo as pursuit of the common good. It’s also tailor-made for individuals with few real passions, talents, or individuality.

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