Why has Decentralized Nasdaq and IBRL been replaced by mobile phone marketing on your TL? (1) Hyperliquid clearly took the Decentralized Nasdaq crown and killing every other DEX in volumes. Anybody that now says they want to be Decentralized Nasdaq will now wake–up to daily questions of “why are you not gaining on HL in market share?” I actually invite that question after Fogo launches as we’re building exactly for that. But other general purposers who did not build for that are going to struggle, as we’re witnessing. So why invite that inconvenient question? (2) And what happened to “Increase Bandwidth, and Reduce Latency?” Fogo is poised to launch at 40ms blocktimes and 45K TPS. And when we launch, there will likely be an L2 and extension even faster than us. The market has moved. So if you’re cheerleading IBRL and 10x slower and not able to iterate fast, you’re going to wake up to the question of “why are you so slow compared to Fogo and all the others?”. Ugh. Once again, another uncomfortable question if you’re hindered by global consensus and 100’s of millis in block time. All these competitive pressures add up to? “Forget what I previously said and just push cell phones” Compete where you can win?