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Matt Levine's talk with SBF is definitely the most bizarrely depressing (or funny, depending on your mood) thing you'll read today. Hell, this week? https://www

• molsongolden 4y ago
  This is a great quick read and it's interesting because it's an abstraction of many other markets (not just DeFi). Reminds me of Damodaran's[0] focus on price vs. value when evaluating equities: >I have long drawn a distinction between price and value, two terms that get used interchangeably in both academia and practice, but with very different drivers and implications. As we watch stock indices around the world gain and lose trillions each day, it is worth remembering that markets are pricing mechanisms, not value mechanisms, or as Ben Graham would put it, they are voting machines, not weighting machines, at least in the short term. [0](Well-respected finance/valuation professor at NYU for anyone not familiar) https://pages.stern.nyu.edu/~adamodar/ https://pages.stern.nyu.edu/~adamodar/