Good morning & happy Wednesday! Today, we're diving deep into Nubank's latest financials to see how the best-run bank on Earth just printed its first-ever $1 billion quarter - and why it was really an $896M quarter with a $165M tax break (breaking down the most important facts & figures from Nubank's Q2 2026, including the $500M buyback nobody mentioned & the AI flywheel incumbents can't copy, to see whether NU 0.00%'is still worth your time & money + bonus guide on how to Turn Claude Opus 5 Into a Financial Analyst That Never Sleeps inside), and Razorpay Vulcan, India's first AI foundation model built purely for payments (what a "shared brain" trained on 4 billion payments actually does, how Vulcan stacks up against Stripe, Nubank's nuFormer & Revolut's PRAGMA, and why the real endgame is agentic commerce + bonus deep dives into How to Build an Agentic OS with Claude Fable 5 & The Complete Guide to YC's Open-Source AI Agent Harness inside). So let's just jump straight into the...
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