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So you're saying the fund invested at all time highs into small cap shitcoins, or whats your point? FB is 10% off all time highs - Are all investors doing terri

So you're saying the fund invested at all time highs into small cap shitcoins, or whats your point? FB is 10% off all time highs - Are all investors doing terrible? Seems like you just have an axe to grind.

arcticbull 6y ago
I'd say if $AAPL were down 98% from ATH then investors probably shouldn't be running out to buy the next $AAPL. Who's running out to buy the next GameStop? In fact GameStop is only down 90% from ATH so you'd have made out 5X better on a $GME investment at peak than you would have buying $ZEC. It's like a16z launching a fund to invest in retail video game sales (due to the overwhelming success of $GME) in shopping malls but also run by criminals and utilizing more power than your average country. It's stupid technology. And for the record, I've no axe to grind, I made a bunch of money in the run-up, and sold all my crypto at BTC$17000. That doesn't mean I think it's at all valuable, or would recommend literally anyone buy any, ever.
- fraggle222 6y ago
  Maybe you weren't around for this: https://en.wikipedia.org/wiki/Dot-com_bubble https://en.wikipedia.org/wiki/Dot-com_bubble By the end of the stock market downturn of 2002, stocks had lost $5 trillion in market capitalization since the peak.[39] At its trough on October 9, 2002, the NASDAQ-100 had dropped to 1,114, down 78% from its peak.[40][41] Many online shopping companies, such as Pets.com, Webvan, and Boo.com, as well as communication companies, such as Worldcom, NorthPoint Communications and Global Crossing, failed and shut down.[42][43] Others, such as Cisco, whose stock declined by 86%,[43] and Qualcomm, lost a large portion of their market capitalization but survived, and some companies, such as eBay and Amazon.com, lost value but recovered quickly.
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  - arcticbull 6y ago
    Mmm indeed but those companies did things that weren't just heating the planet to solve math problems.

arcticbull 6y ago

I'd say if $AAPL were down 98% from ATH then investors probably shouldn't be running out to buy the next $AAPL. Who's running out to buy the next GameStop? In fact GameStop is only down 90% from ATH so you'd have made out 5X better on a $GME investment at peak than you would have buying $ZEC. It's like a16z launching a fund to invest in retail video game sales (due to the overwhelming success of $GME) in shopping malls but also run by criminals and utilizing more power than your average country. It's stupid technology. And for the record, I've no axe to grind, I made a bunch of money in the run-up, and sold all my crypto at BTC$17000. That doesn't mean I think it's at all valuable, or would recommend literally anyone buy any, ever.

fraggle222 6y ago
Maybe you weren't around for this: https://en.wikipedia.org/wiki/Dot-com_bubble https://en.wikipedia.org/wiki/Dot-com_bubble By the end of the stock market downturn of 2002, stocks had lost $5 trillion in market capitalization since the peak.[39] At its trough on October 9, 2002, the NASDAQ-100 had dropped to 1,114, down 78% from its peak.[40][41] Many online shopping companies, such as Pets.com, Webvan, and Boo.com, as well as communication companies, such as Worldcom, NorthPoint Communications and Global Crossing, failed and shut down.[42][43] Others, such as Cisco, whose stock declined by 86%,[43] and Qualcomm, lost a large portion of their market capitalization but survived, and some companies, such as eBay and Amazon.com, lost value but recovered quickly.
- deleted 6y ago
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- arcticbull 6y ago
  Mmm indeed but those companies did things that weren't just heating the planet to solve math problems.