4 ms·

Chamath first came to my attention last week when he introduced his run for California governor by promising to give everyone free money and cut taxes to zero.

by woah 6y ago

Chamath first came to my attention last week when he introduced his run for California governor by promising to give everyone free money and cut taxes to zero. He then bought into GameStop stock, pumped it, and sold at the top while many gullible fools lost their life savings. What a shady dude.

optimiz3 6y ago
Chamath sold GME the day after the purchase and donated the proceeds. The purchase was announced on Twitter after soliciting a community investment idea. The sale was announced the following day on CNBC. Shady it was not, and I don't know how much more transparency you could want here.
- lupire 6y ago
  He dumped the stock before the supposed short squeeze that was the alleged reason for the price runup.
  - Svettie 6y ago
    so what? Countless other people did the same thing, it's a public market.
rorykoehler 6y ago
I invested in one of Chamath’s SPAC plays (not because of Chamath). He is legit as far as I can tell. The company is solid, has an amazing hard tech product and everything has worked out great so far. I have no doubt that everything is honest and that the company will do amazingly well in the next decades. The founders have great track records. This is something like the 4th unicorn the CEO has created and gone public with or exited via buyout. I don’t think he would choose to partner with Chamath if the guy was shady.
hntrader 6y ago
Agreed on the shadiness. I think the GME pump wasn't a direct attempt by him to make money (since he donated proceeds), it was mostly a strategy to get publicity and align him with the retail investor crowd on social media so that his next SPAC gets pumped. He was able to pump his CLOV position 10% today for example, using a single Tweet.
BaconJuice 6y ago
what does gullible fools dumping money on GME options have to do with Chamath?

4 ms·

Chamath first came to my attention last week when he introduced his run for California governor by promising to give everyone free money and cut taxes to zero.

by woah 6y ago

optimiz3 6y ago
Chamath sold GME the day after the purchase and donated the proceeds. The purchase was announced on Twitter after soliciting a community investment idea. The sale was announced the following day on CNBC. Shady it was not, and I don't know how much more transparency you could want here.
- lupire 6y ago
  He dumped the stock before the supposed short squeeze that was the alleged reason for the price runup.
  - Svettie 6y ago
    so what? Countless other people did the same thing, it's a public market.
rorykoehler 6y ago
I invested in one of Chamath’s SPAC plays (not because of Chamath). He is legit as far as I can tell. The company is solid, has an amazing hard tech product and everything has worked out great so far. I have no doubt that everything is honest and that the company will do amazingly well in the next decades. The founders have great track records. This is something like the 4th unicorn the CEO has created and gone public with or exited via buyout. I don’t think he would choose to partner with Chamath if the guy was shady.
hntrader 6y ago
Agreed on the shadiness. I think the GME pump wasn't a direct attempt by him to make money (since he donated proceeds), it was mostly a strategy to get publicity and align him with the retail investor crowd on social media so that his next SPAC gets pumped. He was able to pump his CLOV position 10% today for example, using a single Tweet.
BaconJuice 6y ago
what does gullible fools dumping money on GME options have to do with Chamath?