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“The reality, I think, for most businesses, especially if they have to accumulate any hard assets on the balance sheet, is like 10 percent purchasing power loss every year. So $10 million of working capital cash gets you $8 million worth of stuff in a year. That's a huge, that's an important piece of the business to have optimized.”

“I think what parents need to know, what's so important for parents to know is they can already configure this on their teen's phone using the operating system. So Apple's got a ton of great settings. We use them at home for our fifteen year old Mhmm. Where we can decide exactly what apps he can use, how long he can use them. All of these settings are available to parents at the operating system level, which is a much more resilient way to implement this sort of of policy.”

“And I think the promise of glasses or or at least what I love about glasses is it actually brings computing into the world. I mean, I think this is some something that computing has suffered for a very, very long time is that it just by its nature has been isolating. Right? When I was growing up, you know, I loved computers. I built my own computer. But, like, to use a computer, you had to be in the computer lab at lunch when all your friends were on the school yard, you know.”

“she was talking about watching Carlos Alcaraz and the wonder and amazement she experiences seeing him enjoy both the wins and seemingly the losses. Like, obviously, he doesn't like to lose, but but you know what she's talking hard for a lot of players hard for a lot of players to wrap their minds around. And I sort of knowing the answer to this, I followed up just for a fact. I said, you know, that's not how you felt on the court. And her answer was, you know, absolutely not. For for her, it was, you know, such a a sort of a mental grind, and she's been really honest about that, you know, probably during and after her career. She was never able to to maybe fully enjoy the process.”

“Building a ground up operating system on Linux was really difficult to do, but it's way more performant than trying to repurpose Android. Right? We we learned that Actually, you don't use Android. It builds your own, OS for it. Yeah. Android is way too bloated to work effectively on a on a pair of glasses. I mean, I think that's why you see the the most recent, you know, Google experiment project, Aura, has a huge compute pack.”

“Building a ground up operating system on Linux was really difficult to do, but it's way more performant than trying to repurpose Android. Right? We we learned that Actually, you don't use Android. It builds your own, OS for it. Yeah. Android is way too bloated to work effectively on a on a pair of glasses. I mean, I think that's why you see the the most recent, you know, Google experiment project, Aura, has a huge compute pack.”

“I don't necessarily think we're gonna move beyond the smartphone. I think the smartphone's actually gonna play maybe the most important role of legacy. So beyond solely a smartphone. Yeah. So I I mean, I think it you know, if you look at the capability of of glasses, at least when it comes to specs. Right? What I actually would estimate is that a lot of the large screen use cases are the first to move.”

“I mean, I I think it's extraordinary. Now more than two thirds of, you know, new code is written, you know, by AI at Snap. That's happened really, really quickly. I think, you know, the the rate at which these models are getting better is just extraordinary. So I think I think for us, we're really excited because we're so fortunate to be in a software business that has network effects.”

“Well, Norway was the first place that Snapchat got traction. I mean, we had no traction anywhere. Not The US. We had no traction anywhere except Norway. In fact, in the very early days I did not know this. Oh, it was it was a blast. In the in the early days, I think this was, like, after we had gotten venture maybe after we got an adventure funding. I think in the early days of of getting our first round, you know, we'd raised $400,000 or something like that. And we were really growing in Norway.”

“Well, Norway was the first place that Snapchat got traction. I mean, we had no traction anywhere. Not The US. We had no traction anywhere except Norway. In fact, in the very early days I did not know this. Oh, it was it was a blast. In the in the early days, I think this was, like, after we had gotten venture maybe after we got an adventure funding. I think in the early days of of getting our first round, you know, we'd raised $400,000 or something like that. And we were really growing in Norway.”

“I think boards think about this anyway, because they certainly don't want you sitting on cash, but usually it's, hey, reinvest in the business. But if the reinvestment in the business is like a 10, 15 percent return on invested capital, you probably want to evaluate other options a la Bitcoin. It's a lot less work to sit in Bitcoin and clip that success.”

“I don't necessarily think we're gonna move beyond the smartphone. I think the smartphone's actually gonna play maybe the most important role of legacy. So beyond solely a smartphone. Yeah. So I I mean, I think it you know, if you look at the capability of of glasses, at least when it comes to specs. Right? What I actually would estimate is that a lot of the large screen use cases are the first to move.”

“I have a decade of experience helping private business owners raise capital, whether that's selling the business, raising debt or equity, and recently brought that skill set specifically to the Bitcoiner business owner sector. Anyone with the mindset of a Bitcoiner should probably get advice when it comes to raising capital or selling their business, from someone with the mindset of a Bitcoiner.”

“to me, it's like movement is what, like, got me to get rid of the nerves and the stress. And so if it's, like, jumping around or if it's, even just bouncing with the racket, like, and the ball and the racket, like, just bouncing it really quickly just to kinda get that energy flowing from being stuck in certain limbs or I don't know. Like, I think to me, that was the most important thing. It was to try to keep, to keep moving. And, it's funny because I see it with Jaida now too. It's like, when she plays games or when she has as as a as a game or, and when she's nervous, I see that she gets, like, a little bit stuck with her feet. And I always say, like, keep moving your feet.”

“The opportunity is similar though, which is accumulating Bitcoin on the balance sheet for businesses is augmenting the performance in the balance sheet, whereas the historical fiat landscape for running businesses is all based on the P&L. So you start to accumulate this hard asset, it gives you optionality to do other things.”

“And that maybe brings me to the last point, which is that specs are coming, to consumers for the for the first time, later this year. So after twelve years of investment, in glasses and the next generation of computing and trying to make computing more human, it's actually coming. So, it's it's a pretty extreme time, at Snap, and then we're doing all of that, while transforming the business with AI.”

“I think my boys only realized that, like, a few year few years ago when we when I took them to the US Open. And they, had I was doing I had to do something for Babblet and and, Bob, my agent, who's one of my closest friends too, took Jack while we were waiting, took Jack to see my plaque that's out there. And, and he came back. He's like, mom, I didn't know you were this good. Like, he like, he came back from that. He's like, mom, like, you were kind of a big deal. Like, there's pictures of you everywhere here. And I was like, check. It's okay.”

“That's happened, I think, on some of the back courts in San Diego. I think we were you know, back in the day, when you're ranked lower, you have to you know, you share the court. And I didn't have a player to play with. And I wasn't even planning really on playing doubles, I think. her and her mom just, you know, came up to me. He's like, hey. Do you wanna play doubles? our first match together, we've they actually put us it was, like, on a later, it was dark. her and I, I and me, had a misunderstanding. I think first or second game, our opponents lob us in the middle of the court, and I yell, I. And she thinks that I'm the one that's trying to, you know, like, tell her to take it. So we run into each other”

“And I think the promise of glasses or or at least what I love about glasses is it actually brings computing into the world. I mean, I think this is some something that computing has suffered for a very, very long time is that it just by its nature has been isolating. Right? When I was growing up, you know, I loved computers. I built my own computer. But, like, to use a computer, you had to be in the computer lab at lunch when all your friends were on the school yard, you know.”

“And that maybe brings me to the last point, which is that specs are coming, to consumers for the for the first time, later this year. So after twelve years of investment, in glasses and the next generation of computing and trying to make computing more human, it's actually coming. So, it's it's a pretty extreme time, at Snap, and then we're doing all of that, while transforming the business with AI.”

“I remember that night just getting back to my hotel room and just sitting in my hotel room by myself. Like, I, you know, wasn't married yet. Like, I didn't have Jada or anything. It was just me in my hotel room, and everybody, like, from the team went to their to their room. And, I just sat there and started packing because I was flying home the next day and just sitting there. And I was like, is this what it was like for Steffy? That that serious flare, like because as a little girl, I was like, I wanna win a grand slam like she did, and I want you know, wanna become number one one day. And then I sat there, and I was like, this is it. Like, I won. And look at me. Like, I have my dirty clothes here.”

“Blair, I had one moment in my career that I will never forget, and that was, I think, the ninety nine US Open where I played Serena in the second round. I qualified and I got to play Serena. I was up five two in the third. And she and I pick up my racket from the change events. I pick it up from next to me. And all of a sudden, this racket feels so heavy. Like, literally, like, I was doing great, like, five two up. Like, I was moving well. I was, you know, hitting the ball clean. And all of a sudden, the racket and my arm just just felt off. I was in the locker room fifteen minutes later. I lost seven five.”

“I know back in the day, the Bollettieri Academy, reached out to to my parents. I was like, hey, we wanted, you know, we wanna move you guys to Florida. And, and you guys come live here and we'll get you a house. And and, my dad was like, you know, so down to earth. He was, like, like, why? Like, the the court's the same size here as it is, you know, back in Florida. And, and she wants to hang out with her, you know, go see her grandparents and and just do it, like, normal life and and just have that be just as important as what I was doing on tour.”

“What Snapchat proved was actually that it's not about the the size of your network or the number of people you can contact on your network. It's about who you actually talk to. Mhmm. And that tends to be a much smaller group than the total size of the potential network or even your total number of friends. Right? In fact, most of your conversations, I would guess, right, on a daily basis are like with your wife. Right? Maybe with some of your close friends.”

“Bitcoin is this forcing function to make you efficient, to make sure that you're not adding a ton of bloat to your organization. Then on top of that, once you get to profitability, and you're looking pretty like when you go back to market, and Bitcoin is appreciated, that takes two or three years, the value of the business is looking good, and then you have incredible optionality as a founder.”

“Probably the the two that stick out to me, number one was when Denis Shepovalov wrapped in his post match interview, at Indian Wells, I believe, 2019. And the way that that came about was, you know, I'm on Stadium 3, which is not getting many, you know, round of 16 or or quarter final matches. I said, no. No. No. No. Like, we're not gonna we're I wouldn't do that to you, but can you make a promise to us? If you come back to this court and win, will you rap? And he said, yeah. I'll I'll rap. Well, imagine my surprise when he was on the schedule two days later to come back to Stadium 3. He proceeds to tell me. He's, like, he has a rap prepared.”

“What Snapchat proved was actually that it's not about the the size of your network or the number of people you can contact on your network. It's about who you actually talk to. Mhmm. And that tends to be a much smaller group than the total size of the potential network or even your total number of friends. Right? In fact, most of your conversations, I would guess, right, on a daily basis are like with your wife. Right? Maybe with some of your close friends.”

“I mean, I I think it's extraordinary. Now more than two thirds of, you know, new code is written, you know, by AI at Snap. That's happened really, really quickly. I think, you know, the the rate at which these models are getting better is just extraordinary. So I think I think for us, we're really excited because we're so fortunate to be in a software business that has network effects.”

“I think what parents need to know, what's so important for parents to know is they can already configure this on their teen's phone using the operating system. So Apple's got a ton of great settings. We use them at home for our fifteen year old Mhmm. Where we can decide exactly what apps he can use, how long he can use them. All of these settings are available to parents at the operating system level, which is a much more resilient way to implement this sort of of policy.”