3 ms·
How do you spend that much money in such a short time frame? That's almost $1m/day.
by giarc 4y ago
How do you spend that much money in such a short time frame? That's almost $1m/day.
- __derek__ 4y agoThis phrase comes to mind: "There's infinite demand when you sell dimes for nickels." IIRC, someone said it about Uber (maybe WeWork?) in Sebastian Mallaby's book The Power Law.
- bilalnpe 4y agoThe same was said about MoviePass
- aaaaaaaaata 4y agoUber
- ntoskrnl 4y agoAdvertising is a black hole for money. https://twitter.com/BlockFiZac/status/1422189818667323394 https://twitter.com/BlockFiZac/status/1422189818667323394
- shmatt 4y agoI guess if you believe in Web3.0 the best place to park your money is ad agencies
- bufferoverflow 4y agoBlockfi was paying around 8% in stable coins, if I remember correctly. I think their plan was to invest the money and make more than 8% and pocket the difference. That's pretty hard to do in a down market. Or they were a ponzi scheme all along.
- deleted 4y ago[deleted]
- bko 4y agoHaving a spread between cost of borrowing and net return is how banks make money. Pay deposits X% while earning Y% on said deposits, where Y > X. Another way to make money is to buy collateral earning Y% and apply a structure on top of it and sell the product as yielding X% and pocket the difference, where Y > X. All structured products (e.g. MBS, CLOs, ABS, CDOs, etc) essentially work like this. They wouldn't necessarily need to borrow money to do that. The naive play was using something like TERRA to earn 20% and pass through 8% to the depositors. But the spread amount itself should have raised eyebrows. If someone is paying you 20%, you're taking some kind of risk. And the worst kind of risk is risk you don't understand
- Proven 4y ago