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Wow… Telstra!? They’re a telco!! What in the world are they doing investing in dodgy crypto firms?
by jiggawatts 4y ago
Wow… Telstra!?
They’re a telco!! What in the world are they doing investing in dodgy crypto firms?
- senko 4y agoTelstra Ventures - they're a VC subsidiary: https://golden.com/wiki/Telstra_Ventures-PB4Z33Y https://golden.com/wiki/Telstra_Ventures-PB4Z33Y
- _joel 4y agoWhat's a teacher pension fund doing the same thing?
- twelve40 4y agodiversifying with a hyped-up fomo thing at the time? they have >200 billion so it's kind of a rounding error for them. In fact, for the majority of outfits listed, "contagion" sounds too dramatic. $24mil for Blackrock?
- newaccount2021 4y ago
- edent 4y agoBecause they have a huge amount of assets - but also a growing pool of pensions to pay out. So it makes sense for them to put a limited part of those funds into risky ventures. I'm sure at some point they invested in, for example, Apple when that looked like a dangerous proposition. To be clear - I think anyone "investing" in crypto is likely to lose out in the long run. But if you are a large institution it makes sense to spread yourself into as many ventures as possible.
- syllogism 4y agoIt's a venture fund, as a lot of large companies have. I don't really get the argument for it, I think it's pretty dumb overall. But it's not that uncommon.
- defrost 4y agoFWiW their exposure is relatively low, the figure quoted is an investment of "1 - 10 million", that's against all other investments made by that Testra fund of which many are on the order of 20 to 40 million, and a few at 100, 200, and 900 million.