Rosa Del Mar

Issue 22 2026-01-22

Rosa Del Mar

Daily Brief

Issue 22 2026-01-22

Public-Vs-Private Valuation Mechanics And Venture Return Math

  • Rory O'Driscoll claims public-market multiple compression is primarily a re-sorting by growth rate rather than a uniform de-rating of tech, and therefore does not inherently break the venture model.
  • Harry Stebbings states traditional early-stage venture firms are increasingly investing across multiple rounds and stages rather than remaining stage-disciplined.
  • Rory O'Driscoll expects future OpenAI financings over the next 1–2 years may be priced with an explicit risk of 10%–20% additional dilution if Musk prevails at trial.

Ssh Access And Routing Without Host Header

  • exe.dev identifies the customer account using the presented SSH public key and uses that identity to forward the connection to the correct underlying VM.
  • exe.dev avoids assigning every VM a globally unique IP by ensuring each VM has an IP address that is unique within a given customer account.
  • exe.dev charges $20/month and provides up to 25 VMs that share a pool of 2 CPUs and 8GB RAM.

Voice Cloning Capability And Controllability

  • Qwen3-TTS supports 3-second voice cloning and description-based control for creating and manipulating voices.
  • A Hugging Face browser demo allows free use of the 0.6B and 1.7B Qwen3-TTS models, including voice cloning.
  • On Hugging Face, Qwen3-TTS-12Hz-1.7B-Base is about 4.54GB and Qwen3-TTS-12Hz-0.6B-Base is about 2.52GB.

Frame-Based Terminal Rendering Pipeline

  • On each frame, Claude Code constructs a React-based scene graph, performs layout and rasterization to a 2D screen, diffs against the prior screen, and emits ANSI sequences derived from the diff.
  • Claude Code's rendering loop operates under an approximately 16ms per-frame budget.
  • Claude Code should be conceptualized less as a simple text UI and more like a small game engine.

Public Markets Vs Venture Allocation Divergence In Energy

  • In calendar year 2025, the S&P Global Clean Energy Transition Index rose about 40%, while both the S&P and NASDAQ 100 were roughly 20%.
  • US residential solar system prices are around $3.35/W, roughly three times the cost in Australia or Germany.
  • China’s electric medium- and heavy-duty truck sales rose from about 3,000 in 2020 to about 81,500 in the first half of 2025.

Macro Linkage, Correlation Instability, And Regime Framing

  • Near-term crypto direction is framed as primarily dependent on broader equity risk appetite and traditional-market stress signals such as spiking JGB yields.
  • Details of Lighter’s new maker fee tiers and required staking amounts are described as vague but expected to be clarified within roughly the next 8–9 days.
  • Pump is described as having upside potential and being strong year-to-date, while facing perceived overhang from a reported RICO lawsuit issue and periods of limited communication.