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It's shocking to me that people keep fucking up these money printing machines (read: crypto exchanges). Your incessant need for growth and share holder value c
by oldstrangers 4y ago
It's shocking to me that people keep fucking up these money printing machines (read: crypto exchanges).
Your incessant need for growth and share holder value completely rots your brain and you take a golden goose and burden it with so much overhead that it becomes unsustainable. Why?!
Just sit back and collect exchange fees, become rich beyond your imagination (see FTX).
- adbachman 4y agoThe "money printing machine" relies 100% on inducing new suckers to participate. If you sit still (i.e., don't spend $$ on customer acquisition) the whole system dies.
- oldstrangers 4y agoYeah, you can have a marketing budget. No one said you couldn't. But the kind of growth Coinbase was going for was far beyond the scope of just "customer acquisition".