Robert Leshner
CEO and co-founder of Superstate, an asset management firm that builds infrastructure for investment funds, and an investor at Robot Ventures.
“How is that a risk? That sounds so positive for the business.”
Unchained · Crypto & Web3 · November 2026
Context
A co-host had just said Anthropic's updated IPO filing added recursive self-improvement, AI models improving the next generation of models, as a new risk factor. This was Leshner's reaction; another host answered that the risk is getting regulated.
Transcript
…I know, I think, you know, like Tarun, there's a, our forefathers, you know, wrote into the constitution a very clear distinction between a future and a swap. And we have to respect what the, no, I'm just, I'm just fucking, I'm playing with you. No, I have no idea what the opposition could be.
…they added some new risk factors, including RSI. RSI, meaning recursive self-improvement, means the ability for an AI Models to improve a future generation of the AI Models and potentially causing some accelerating loop of self-improvement that results in, quote, dramatically accelerating progress.
How is that a risk? That sounds so positive for the business.
Well, it is a risk of risk of
getting regulated or whatever, right?
Well, we all have risk of getting regulated now. Yes, that's right. I mean, you know, with this blue wave, it's interesting to me that like you see in the Anthropic perps, Anthropic's clearly up over the last 24 hours. Surprising because so many of the states that ended up flipping were like the…
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