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Never heard of Future.com but I guess he needs to cut costs everywhere as he's been losing money betting huge on crypto and probably is realizing he is losing m

Never heard of Future.com but I guess he needs to cut costs everywhere as he's been losing money betting huge on crypto and probably is realizing he is losing money on Adam Neumman too. Probably lucky he missed getting scammed on FTX as he supposedly could not invest due to being an investor in Coinbase https://www.wsj.com/articles/andreessen-horowitz-went-all-in-on-crypto-at-the-worst-possible-time-11666769270 https://www.wsj.com/articles/andreessen-horowitz-went-all-in... https://www.nytimes.com/2022/08/15/business/dealbook/adam-neumann-wework-startup.html https://www.nytimes.com/2022/08/15/business/dealbook/adam-ne... https://fortune.com/crypto/2022/11/30/andreessen-horowitz-dodged-the-ftx-bullet-was-that-skill-or-luck/ https://fortune.com/crypto/2022/11/30/andreessen-horowitz-do...

karp773 4y ago
Running a publication like future.com costs peanuts. If they are pinching pennies like this, a16z must be in big trouble?
- meheleventyone 4y ago
  Maybe more along the lines of if your freely accessible vanity press gets no readers does that reflect well.
- rchaud 4y ago
  Not necessarily. Now that Twitter is in friendlier hands, they simply may not feel the need to shovel more SEO blogspam into the furnace.
  - karp773 4y ago
    You are probably right. It does look like a SEO spam site!
- gcanyon 4y ago
  It still comes down to cost/benefit -- no matter how small the cost monetarily, there's still the conceptual/attention/time aspect, and it's always possible for the benefit to be so little that the cost isn't justified.
jakelazaroff 4y ago
I’m not sure that’s true. Semafor reported that a16z's returns were 15x at the beginning of 2022 [1]. Obviously that’s probably lower now but the reason they were so high is that they got inside access to their companies’ tokens and dumped them on retail before the crash. Crypto has been an upward transfer of wealth on an unprecedented scale. [1] https://www.semafor.com/article/11/16/2022/andreessen-passed-on-ftx-while-venture-firms-early-crypto-investors-are-up https://www.semafor.com/article/11/16/2022/andreessen-passed...
- esotericimpl 4y ago
  Chris Dixon and those crooks 100% let retailers hold the bag for all the worthless tokens they were able to dump on the public. But still the 15x is surprising to me, then again if its based on last years mark to market it makes sense. Fairly certain all their investments in crypto are going to zero though.
winReInstall 4y ago
Should have invested in Shorts.com
deleted 4y ago
[deleted]
lumost 4y ago
My suspicion is that Coinbase may not be as solvent as we would like either. There have been too many exchange scams to truly believe anyone is clean. We now know that outright market manipulation at a massive scale was happening through ftx, there is minimal reason btc can’t fall back to 2013 levels with such schemes out of the picture.
- Mistletoe 4y ago
  https://cryptoslate.com/kraken-coinbase-and-gate-io-publish-proof-of-reserves-with-liabilities/ https://cryptoslate.com/kraken-coinbase-and-gate-io-publish-... https://www.sec.gov/Archives/edgar/data/1679788/000162828021003168/coinbaseglobalincs-1.htm https://www.sec.gov/Archives/edgar/data/1679788/000162828021... Since Coinbase is a publicly traded company and under the SEC, it is actually the exchange we probably have the best and most accurate info on.
b0sk 4y ago
Their business model is even more sinister according to Nicholas Weaver. "New A16Z: Securities Fraud as a Business • Invest in several "blockchain" startups • Startups issue new tokens promising something, eventually • These are unlicensed securities and this is blatantly illegal in the US, just not enforced by the SEC! • A16Z gets a ton of these tokens, sells to retail suckers • Ideally gets listed on Coinbase, but sketchier exchanges will do • They did that just now with "APE" token! • If SEC ever wakes up... • It is the startups that committed the securities fraud, not A16Z! So they are safe with their money! " Link: https://su22.cs161.org/assets/lectures/cryptocurrency.pdf https://su22.cs161.org/assets/lectures/cryptocurrency.pdf

karp773 4y ago

Running a publication like future.com costs peanuts. If they are pinching pennies like this, a16z must be in big trouble?

meheleventyone 4y ago
Maybe more along the lines of if your freely accessible vanity press gets no readers does that reflect well.
rchaud 4y ago
Not necessarily. Now that Twitter is in friendlier hands, they simply may not feel the need to shovel more SEO blogspam into the furnace.
- karp773 4y ago
  You are probably right. It does look like a SEO spam site!
gcanyon 4y ago
It still comes down to cost/benefit -- no matter how small the cost monetarily, there's still the conceptual/attention/time aspect, and it's always possible for the benefit to be so little that the cost isn't justified.

jakelazaroff 4y ago

I’m not sure that’s true. Semafor reported that a16z's returns were 15x at the beginning of 2022 [1]. Obviously that’s probably lower now but the reason they were so high is that they got inside access to their companies’ tokens and dumped them on retail before the crash. Crypto has been an upward transfer of wealth on an unprecedented scale. [1] https://www.semafor.com/article/11/16/2022/andreessen-passed-on-ftx-while-venture-firms-early-crypto-investors-are-up https://www.semafor.com/article/11/16/2022/andreessen-passed...

esotericimpl 4y ago
Chris Dixon and those crooks 100% let retailers hold the bag for all the worthless tokens they were able to dump on the public. But still the 15x is surprising to me, then again if its based on last years mark to market it makes sense. Fairly certain all their investments in crypto are going to zero though.

winReInstall 4y ago

Should have invested in Shorts.com

deleted 4y ago

[deleted]

lumost 4y ago

My suspicion is that Coinbase may not be as solvent as we would like either. There have been too many exchange scams to truly believe anyone is clean. We now know that outright market manipulation at a massive scale was happening through ftx, there is minimal reason btc can’t fall back to 2013 levels with such schemes out of the picture.

Mistletoe 4y ago
https://cryptoslate.com/kraken-coinbase-and-gate-io-publish-proof-of-reserves-with-liabilities/ https://cryptoslate.com/kraken-coinbase-and-gate-io-publish-... https://www.sec.gov/Archives/edgar/data/1679788/000162828021003168/coinbaseglobalincs-1.htm https://www.sec.gov/Archives/edgar/data/1679788/000162828021... Since Coinbase is a publicly traded company and under the SEC, it is actually the exchange we probably have the best and most accurate info on.

b0sk 4y ago

Their business model is even more sinister according to Nicholas Weaver. "New A16Z: Securities Fraud as a Business • Invest in several "blockchain" startups • Startups issue new tokens promising something, eventually • These are unlicensed securities and this is blatantly illegal in the US, just not enforced by the SEC! • A16Z gets a ton of these tokens, sells to retail suckers • Ideally gets listed on Coinbase, but sketchier exchanges will do • They did that just now with "APE" token! • If SEC ever wakes up... • It is the startups that committed the securities fraud, not A16Z! So they are safe with their money! " Link: https://su22.cs161.org/assets/lectures/cryptocurrency.pdf https://su22.cs161.org/assets/lectures/cryptocurrency.pdf