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Postolnikov has been under increasing scrutiny in the criminal investigation into the Trump Media merger. Most recently, he has been listed on search warrant affidavits alongside several associates – one of whom was indicted last month for money laundering on top of earlier insider-trading charges.

Trump Media then received the loans from ES Family Trust: $2m on 23 December 2021, and $6m on 17 February 2022.

Part of the problem was that Trump Media struggled to get financing because traditional banks were reluctant to lend millions to Trump’s social media company in the wake of the January 6 Capitol attack, Wilkerson said.Trump Media eventually found some lenders, including ES Family Trust, but the sequence of events was curious.

S Family Trust was established on 18 May 2021, its creation papers show. Postolnikov’s “user” access to the account was “verified” on 30 November 2021 by a Paxum Bank manager in Dominica. The trust was funded for the first time on 2 December 2021

In late 2021, Trump Media was facing financial trouble after the original planned merger with Digital World was delayed indefinitely when the Securities and Exchange Commission opened an investigation into the merger, Trump Media’s since-ousted co-founder-turned-whistleblower Will Wilkerson recounted in an interview.

The loans came in the form of convertible promissory notes, meaning ES Family Trust would gain a major stake in Trump Media because it was offering the money in exchange for Trump Media agreeing to convert the loan principal into “shares of Company Stock”.

Oddly, the notes were never signed. But the investment in Trump Media proved to be huge: while precise figures can only be known by Trump Media, ES Family Trust’s stake in Trump Media is worth between $20m and $40m even after the sharp decline of the company’s share price in the wake of a poor earnings report

The ES Family Trust account also appears to have benefited Postolnikov personally. As the criminal investigation into the Trump Media deal intensified towards the end of last year, the trust recorded several transfers to Postolnikov with the subject line “Partial Loan Return”.In total, the documents showed that the trust transferred $4.8m to Postolnikov’s account, although $3m was inexplicably “reversed”.

The reason for the trust’s creation remains unknown. Aside from the money that went to Trump Media, the trust’s statements show the trust has directly invested money with only two other companies: $10.8m to Eleven Ventures LLC, a venture capital firm, and $1m to Wedbush Securities, a wealth management firm.

The creation papers also contained something notable: a declaration that, if the original trustee – a Paxum employee named Angel Pacheco – stepped down from the role, his successor would be a certain individual named Michael Shvartsman.

Last month, federal prosecutors charged Michael Shvartsman, a close associate of Postolnikov, with money laundering in a superseding indictment after previously charging him and two others in July with insider-trading Digital World shares. Shvartsman and his co-defendants pleaded not guilty.

nformant for the DHS, court filings show: in one March 2023 meeting with the informant and an associate, Shvartsman mentioned a friend who owned a bank in Dominica and made bridge loans to Trump Media.

“[Shvartsman’s associate] told the [confidential informant] that he does not think the SEC would be able to go after [Shvartsman] for his part in the investment but mentioned that [Shvartsman] essentially provided ‘bridge financing’ for the firm behind the Truth Social media platform,” it said.

The investigation into potential money laundering appears to have started after Wilkerson’s lawyers Phil Brewster, Stephen Bell and Patrick Mincey alerted the US attorney’s office in the southern district of New York to the ES Family Trust loans in October 2022.

Months later, in June 2023, the FBI expanded its investigation to work jointly with the Department of Homeland Security’s El Dorado taskforce, which specializes in money laundering, and its Illicit Proceeds and Foreign Corruption group, which targets corrupt foreign officials who use US entities to launder illicit funds.

“We have an outstanding mayor, who is committed to tackling climate change. She said the 15-minute city will be the backbone for creating a new urban plan. The last time Paris had a new urban plan was in 2000, so this road map will be relevant for the next 10 or 15 years at least,”

“I said to Hidalgo, the 15-minute city is not an urban traffic plan. The 15-minute city is a radical change of our life.”

He also thinks office should generally be closer to homes, as well as cultural venues, doctors, shops and other amenities. Shared spaces such as parks help the people living in the areas to form communities.

They have also often been segmented into wealthier and poorer areas; in the less prosperous area to the north-east of Paris, Moreno says up to 40% of homes are social housing. In the wealthier west of Paris, this drops below 5%.

“My idea is to break this triple segregation,” he says.

Moreno thinks this segregation leads to a poorer quality of life, one designed around outdated “masculine desires”, so his proposal is to mix this up, creating housing developments with a mixture of social, affordable and more expensive housing so different social strata can intermingle

He also wants to bring schools and children’s areas closer to work and home, so caregivers can more easily travel around and participate in societ

When many modern cities were designed, they were for men to work in. Their wives and family stayed in the suburbs, while the workers drove in. So they have been designed around the car, and segmented into different districts: the financial district (think Canary Wharf), the cultural area (for example, the West End) and then the suburbs

The city has also been regenerating the Clichy-Batignolles district in the less prosperous north-west of Paris to have a green, village-like feel. About a quarter of it is taken up by green space and a new park.“As a 15-minute district, it is incredible,” says Moreno. “It is beautiful, it has proximity, social mixing, 50% of the inhabitants live in social housing, 25% in middle class and 25% own their homes.”

Many of his proposals are dear to the culture of the French. In a large, wealthy metropolis such as Paris, it is easy for small shops to be choked out by large chains. The city of Paris, in its new plan, has put measures in to stop this.

“We have a commercial subsidiary of the city of Paris which has put €200m into managing retail areas in the city with rates below the speculative real estate market. This is specifically to rent to small shops, artisans, bakeries, bookstores.

This is not only a good investment because it creates a good economic model, but it keeps the culture of the city of Paris,”

This is in keeping with the 15-minute city plan as it keeps local shops close to housing, so people can stroll down from their apartment to pick up a fresh baguette from an independent baker. “It creates a more vibrant neighbourhood,” he adds.

Hidalgo inevitably faced a large backlash from the motorist lobby. Stroll down the banks of the Seine today in the new protected parks and outdoor bars, and it is hard to imagine that it was recently a traffic-choked highway

“The drivers were radically very noisy, saying that we wanted to attack their individual rights, their freedom. The motorist lobby said she cannot be elected without our support, that they are very powerful in France,” Moreno says. But Hidalgo called their bluff: “She often says ‘I was elected two times, with the opposition of the automotive lobby’. In 2024, nobody requests to open again the highway on the Seine, no one wants the Seine urban park to be open for cars.”

Moreno talks about the concept of a “giant metronome of the city” which causes people to rush around. He wants to slow this down, to allow people to reclaim their “useful time” back from commuting and travelling to shops and cultural areas.

“I bet for the next year, for the next decade, we will have this new transformation of corporation real estate,” he says. “Businesses are choosing multi-use areas with housing, schools, shops for their office space now. The time of the skyscrapers in the masculine design is finished.”

Republican politicians, sensing momentum, called on other firms to follow suit.

“This was always cosmetic,” said Shivaram Rajgopal, a professor at Columbia Business School. “If signing a piece of paper was getting these companies into trouble, it’s no surprise they’re getting the hell out.

American asset managers have a fiduciary duty to act in the best interest of their clients, and the financial firms were worried that a new strategy by Climate Action 100+ could expose them to legal risks.

Since its founding in 2017, the group focused on getting publicly traded companies to increase how much information they shared about their emissions and identify climate-related risks to their businesses.

In addition to the risk that some clients might disapprove, and potentially sue, there were other concerns. Among them: that acting in concert to shape the behaviors of other companies could fall afoul of antitrust regulations.

The new plan called on asset-management firms to begin pressuring companies like Exxon Mobil and Walmart to adopt policies that could entail, for example, using fewer fossil fuels

last year, Climate Action 100+ said it would shift its focus toward getting companies to reduce emissions with what it called phase two of its strategy

BlackRock also said that one of its subsidiaries, BlackRock International, would continue to participate in the group — a tacit acknowledgment of the different regulatory environment in Europe. BlackRock also said it was initiating new features that would let clients choose if they wanted to pressure companies to reduce their emissions.

Pimco, another big asset manager, followed suit. “We have concluded that our Climate Action 100+ participation is no longer aligned with PIMCO’s approach to sustainability,” a firm spokesman said in a statement.

JPMorgan said it was pulling out of the group in recognition of the fact that, over the past few years, the firm had developed its own framework for engaging on climate risk

The fracturing of Climate Action 100+ was a victory for Representative Jim Jordan, Republican of Ohio, who has led a campaign against companies pursuing E.S.G. goals, shorthand for environmental, social and governance factors.

Embracing E.S.G. principles and speaking up on climate issues has become commonplace across corporate America in recent years. Chief executives warned about the dangers of climate change. Banks and asset managers formed alliances to phase out fossil fuels. Trillions of dollars were allocated for sustainable investing.

“Phase two is not that different,” she said. “It’s basically investors working with companies and saying: ‘OK, you’ve disclosed the risk. We just want to know how you’re going to address it.’ Because that’s what the investors want. How are you dealing with risk?”

Mindy Lubber, the chief executive of Ceres and a member of the steering committee of Climate Action 100+, disputed the notion that the new strategy represented a change from the focus on enhanced disclosure.

“The political cost has heightened, the legal risk has heightened,” he said. “That said, these corporations are not doing U-turns,” he added. “They continue to consider climate. That’s not going away. It’s adapting to the current environment.”

Aron Cramer, chief executive for BSR, a sustainable-business consultancy, said the Wall Street firms were responding to political pressure, but not abandoning their climate commitments altogether.

Several of the firms that backed out of Climate Action 100+ said they remained committed to the issue. JPMorgan said that it had a team of 40 people working on sustainable investing and that it believed “climate change continues to present material economic risks and opportunities to our clients.”

Mensch said his new model cost less than €20 million, the equivalent of roughly $22 million, to train. By contrast OpenAI Chief Executive Sam Altman said last year after the release of GPT-4 that training his company’s biggest models cost “much more than” $50 million to $100 million.

Brave Software made a free, open-source model from Mistral the default to power its web-browser chatbot, said Brian Bondy, Brave’s co-founder and chief technology officer. He said that the company finds the quality comparable with proprietary models, and Mistral’s open-source approach also lets Brave control the model locally.

“We want to be the most capital-efficient company in the world of AI,” Mensch said. “That’s the reason we exist.” 

Mensch joined the Google AI unit then called DeepMind in late 2020, where he worked on the team building so-called large language models, the type of AI system that would later power ChatGPT. By 2022, he was one of the lead authors of a paper about a new AI model called Chinchilla, which changed the field’s understanding of the relationship among the size of an AI model, how much data is used to build it and how well it performs, known as AI scaling laws.

Mensch took a role lobbying French policymakers, including French President Emmanuel Macron, against certain elements of the European Union’s new AI Act, which Mensch warned could slow down companies and would, in his view, do nothing to make AI safer. After changes to the text in Brussels, it will be a manageable burden for Mistral, Mensch says, even if he thinks the law should have remained focused on how AI is used rather than also regulating the underlying technology.  

For Mensch and his co-founders, releasing their initial AI systems as open source that anyone could use or adapt free of charge was an important principle. It was also a way to get noticed by developers and potential clients eager for more control over the AI they use

Mistral’s most advanced models, including the one unveiled Monday, aren’t available open source. 

In his 2007 history of the movement, Radicals for Capitalism, Brian Doherty identifies five key figures who most shaped the nascent ideology and its organized advocacy: author Ayn Rand, and economists Ludwig von Mises, F. A. Hayek, Milton Friedman, and Murray Rothbard

With one exception, all paired radical free-market and smaller government views with liberal tolerance and cosmopolitanism on social issues. None were religious, and Rand and Mises were both avowedly irreligious. Friedman and Hayek both trended more moderate and pragmatic, and also achieved the highest degree of mainstream intellectual recognitio

It was in Rothbard that the divergence began which today has culminated in the Libertarian Party’s convention transforming into a literal Trump rally

He was in many ways the most radical—an avowed anarchist—and the most marginal

he was also the most involved in creating a self-consciously libertarian movement and many of its institutions. In this he was aided by his skills as a prolific polemicist.

From the start, Trump’s brand of illiberal populism had more than a passing resemblance to Rothbard’s paleo strategy—minus, as many classical liberal critics had long predicted, any meaningful moves to actually shrink government

By accommodating and embracing conservative culture warriors, even including avowed white supremacists, Rothbard believed he was forming the basis of a political coalition to demolish modern big government

it included an open embrace of police brutality, fuming about the need to “dispense instant punishment” to “bums,” while railing against efforts to undo America’s white supremacist past. Later, opposition to immigration became one of the paleo posture’s signature issues.

Across the loose constellation of libertarian think tanks, advocacy organizations, and electoral efforts in both the L.P. and the GOP, the embrace or rejection of Rothbard’s “paleo” idea was a source of perennial tension. Rothbard himself was involved for a time in both the Libertarian Party and the Cato Institute, co-founding the latter before being acrimoniously ejected after a few years.

the other end of the movement came to embrace the view of libertarianism as fundamentally an extension of the larger liberal tradition, continuous with a classical liberal political philosophy rather than a socially conservative one.

Free markets and limited government were still a big part of the picture, but in service to a vision of a dynamic and pluralistic free society.

As much as each held a dim view of the other, both continued to work under the “libertarian” label.

As he outlined in a 1992 essay, “Right Wing Populism: A Strategy for the Paleo Movement,” paleolibertarianism was an explicit alliance between small-government radicalism and the extremist far-right.

it still embodied the burn-it-all-down reactionary ethos that saw tearing down established institutions as a necessary first step, even if that required an unrestrained autocrat

After the deadly 2017 neo-Nazi rally in Charlottesville, the then party leadership denounced the “blood and soil” rhetoric. But to the Rothbardians, this smacked of unacceptable wokeness. Within a few days, the Mises Caucus—named more for the ideas exhibited by the think-tank than the actual economist—was founded. Over the next few years, this group began launching hostile takeovers of state parties and then the national party. As they did so, the party increasingly adopted rhetoric that sounded more like the tiki-torch brigade than one committed to individual liberty.

The two camps within the movement—the cosmopolitan and the paleo—already strained to nearly the breaking point, went through the inevitable rupture. A number of differences and disagreements fueled the split, but most central was the divide into MAGA-friendly and anti-Trump sympathies.

It is no longer possible to ignore the conflict of visions about what kind of society freedom was supposed to yield. One in which private bigotry and established hierarchies were allowed free rein? Or an open and all-embracing one where different people and lifestyles disapproved by the traditional order could flourish?

The only way the libertarian movement’s demise could bring down libertarianism as a political-philosophical framework is if one expected the ideas themselves to disappear. Happily, a robust conviction of the centrality of individual liberty—or of the need to fight a tyrannical state—is in no danger of fully fading away.

“Over 80 technical papers published since January 2022,” LeCun responded. “What about you?”

To which Musk posted: “That’s nothing, you’re going soft. Try harder!

At stake are the hearts and minds of AI experts—academic and otherwise—needed to usher in the technology

“Join xAI,” LeCun wrote, “if you can stand a boss who:– claims that what you are working on will be solved next year (no pressure).– claims that what you are working on will kill everyone and must be stopped or paused (yay, vacation for 6 months!).– claims to want a ‘maximally rigorous pursuit of the truth’ but spews crazy-ass conspiracy theories on his own social platform.”

Some read Musk’s “science” dig as dismissing the role research has played for a generation of AI experts. For years, the Metas and Googles of the world have hired the top minds in AI from universities, indulging their desires to keep a foot in both worlds by allowing them to release their research publicly, while also trying to deploy products. 

For an academic such as LeCun, published research, whether peer-reviewed or not, allowed ideas to flourish and reputations to be built, which in turn helped build stars in the system.

LeCun has been at Meta since 2013 while serving as an NYU professor since 2003. His tweets suggest he subscribes to the philosophy that one’s work needs to be published—put through the rigors of being shown to be correct and reproducible—to really be considered science. 

“If you do research and don’t publish, it’s not Science,” he posted in a lengthy tweet Tuesday rebutting Musk. “If you never published your research but somehow developed it into a product, you might die rich,” he concluded. “But you’ll still be a bit bitter and largely forgotten.” 

After pushback, he later clarified in another post: “What I *AM* saying is that science progresses through the collision of ideas, verification, analysis, reproduction, and improvements. If you don’t publish your research *in some way* your research will likely have no impact.”

The spat inspired debate throughout the scientific community. “What is science?” Nature, a scientific journal, asked in a headline about the dust-up.

Others, such as Palmer Luckey, a former Facebook executive and founder of Anduril Industries, a defense startup, took issue with LeCun’s definition of science. “The extreme arrogance and elitism is what people have a problem with,” he tweeted.

For Musk, who prides himself on his physics-based viewpoint and likes to tout how he once aspired to work at a particle accelerator in pursuit of the universe’s big questions, LeCun’s definition of science might sound too ivory-tower. 

Musk has blamed universities for helping promote what he sees as overly liberal thinking and other symptoms of what he calls the Woke Mind Virus. 

Over the years, an appeal of working for Musk has been the impression that his companies move quickly, filled with engineers attracted to tackling hard problems and seeing their ideas put into practice.

“I’ve teamed up with Elon to see if we can actually apply these new technologies to really make a dent in our understanding of the universe,” Igor Babuschkin, an AI expert who worked at OpenAI and Google’s DeepMind, said last year as part of announcing xAI’s mission. 

The creation of xAI quickly sent ripples through the AI labor market, with one rival complaining it was hard to compete for potential candidates attracted to Musk and his reputation for creating value

that was before xAI’s latest round raised billions of dollars, putting its valuation at $24 billion, kicking off a new recruiting drive. 

It was already a seller’s market for AI talent, with estimates that there might be only a couple hundred people out there qualified to deal with certain pressing challenges in the industry and that top candidates can easily earn compensation packages worth $1 million or more

Since the launch, Musk has been quick to criticize competitors for what he perceived as liberal biases in rival AI chatbots. His pitch of xAI being the anti-woke bastion seems to have worked to attract some like-minded engineers.

As for Musk’s final response to LeCun’s defense of research, he posted a meme featuring Pepé Le Pew that read: “my honest reaction.”