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I'll just quote part of what I said a month ago :) > And given what's leaked from their balance sheet, I don't see how people avoid jail time. https://news.yc

I'll just quote part of what I said a month ago :) > And given what's leaked from their balance sheet, I don't see how people avoid jail time. https://news.ycombinator.com/item?id=33608691 https://news.ycombinator.com/item?id=33608691 I'll also add that SBF going on tour was the stupidest thing he could have done. Every time he spoke, he was giving the government more evidence. Hubris has often been the downfall of the rich and powerful throughout history. What's changed is now we get to see it in real time with people like Musk and SBF.

bluGill 4y ago
If he wasn't the type to go on tour and shout, then he wouldn't have attracted enough investors in the first place to be rich. It takes a specific personality to market things so others will buy, and that personality doesn't like to shut up and so won't. Some things sell themselves, but most great ideas sit around unknown by people who need them just because they don't know about it. I'd love to buy a better mousetrap to take care of my mouse problem, but if one exists I don't know about it. If you shout that your mouse trap is better I'll probably try it.
- blitzar 4y ago
  It worked to get him to a net worth of 100bn why wouldnt it work again.
  - zeven7 4y ago
    Right, everything in his life up to this point has taught him that if he keeps talking he'll be able to convince anybody of anything. He convinced his series B investors to hand over $420 million in "investment" funds to FTX while he pocketed $300 million of that personally.
- macrolime 4y ago
  I think I know just the thing for you. It's a sophisticated autonomous mousetrap that doesn't even need bait, as it has the ability to locate and catch the mouse all by itself. With its unique combination of strength and agility, this mousetrap is able to outsmart any mouse. When you least expect it, the mousetrap will pounce and capture its target. It's called a cat.
  - bluGill 4y ago
    I have one. While they do catch mice, they don't get them all.
thepasswordis 4y ago
>like Musk and SBF I‘m sorry, but what? Just to give some perspective that I don’t think HN really gets: most of my friends have increased their twitter usage. If you aren’t aware, whatever the team did there a few days ago really has appeared to cut bots down to almost 0. SBF is an [alleged] criminal who has [allegedly] defrauded people of billions of dollars, and will likely be spending a substantial amount of time in prison for it. These things aren’t the same. A restaurant changing their menu to suit a larger audience is not “hubris” simply because it no longer caters to you.
- SilverBirch 4y ago
  Just for reference what Musk did is just blocked half the mobile carriers in emerging markets, kneecapping their ability to grow Twitter in those countries whilst only temporarily tamping down on bots. The bots will be back, the users won't.
  - blululu 4y ago
    Honest question: are low income users viable for an ad supported platform? As it is I think only North American online ads actually make decent money, though perhaps European and Asian ad markets also deliver value close to break even. It is all an investment in the future. The last 15 years have had a belief that more users means more money but this might be thinking that all users are the same when some are much more valuable than others.
    - SilverBirch 4y ago
      Meta makes revenues of about $15Bn in US & Canada, $8Bn in the EU and $10Boutside of EU & US/Canada each year. So it's clearly not nothing, and it's not like Twitter can afford to be picky about where it makes money.
      - CamelCaseName 4y ago
        Meta is insanely deep in those countries outside the EU/US/CA though. As in, they are "the" internet for users who get it for free on their mobile plans and everything else costs exorbitant amounts of money. I don't quite think Elon could do that, unless Starlink really takes off I suppose.
eric_cc 4y ago
> people like Musk and SBF What a ridiculous take. It’s also very telling of where you get your information. Orange Man Bad has transitioned to Elon Bad.
- matwood 4y ago
  Is there an information source that says he didn't massively overpay and saddle Twitter with a near insurmountable debt load? Reports are Twitter has stopped paying its bills [1], which is common when bankruptcy is inevitable. [1] https://www.nytimes.com/2022/12/13/technology/elon-musk-twitter-shakeup.html https://www.nytimes.com/2022/12/13/technology/elon-musk-twit...
  - eric_cc 4y ago
    > nytimes Point proven.
    - matwood 4y ago
      Which point was (dis)proved? That he didn't overpay, he didn't saddle the company with a huge amount of debt, or that Twitter isn't paying its bills?

bluGill 4y ago

If he wasn't the type to go on tour and shout, then he wouldn't have attracted enough investors in the first place to be rich. It takes a specific personality to market things so others will buy, and that personality doesn't like to shut up and so won't. Some things sell themselves, but most great ideas sit around unknown by people who need them just because they don't know about it. I'd love to buy a better mousetrap to take care of my mouse problem, but if one exists I don't know about it. If you shout that your mouse trap is better I'll probably try it.

blitzar 4y ago
It worked to get him to a net worth of 100bn why wouldnt it work again.
- zeven7 4y ago
  Right, everything in his life up to this point has taught him that if he keeps talking he'll be able to convince anybody of anything. He convinced his series B investors to hand over $420 million in "investment" funds to FTX while he pocketed $300 million of that personally.
macrolime 4y ago
I think I know just the thing for you. It's a sophisticated autonomous mousetrap that doesn't even need bait, as it has the ability to locate and catch the mouse all by itself. With its unique combination of strength and agility, this mousetrap is able to outsmart any mouse. When you least expect it, the mousetrap will pounce and capture its target. It's called a cat.
- bluGill 4y ago
  I have one. While they do catch mice, they don't get them all.

thepasswordis 4y ago

>like Musk and SBF I‘m sorry, but what? Just to give some perspective that I don’t think HN really gets: most of my friends have increased their twitter usage. If you aren’t aware, whatever the team did there a few days ago really has appeared to cut bots down to almost 0. SBF is an [alleged] criminal who has [allegedly] defrauded people of billions of dollars, and will likely be spending a substantial amount of time in prison for it. These things aren’t the same. A restaurant changing their menu to suit a larger audience is not “hubris” simply because it no longer caters to you.

SilverBirch 4y ago
Just for reference what Musk did is just blocked half the mobile carriers in emerging markets, kneecapping their ability to grow Twitter in those countries whilst only temporarily tamping down on bots. The bots will be back, the users won't.
- blululu 4y ago
  Honest question: are low income users viable for an ad supported platform? As it is I think only North American online ads actually make decent money, though perhaps European and Asian ad markets also deliver value close to break even. It is all an investment in the future. The last 15 years have had a belief that more users means more money but this might be thinking that all users are the same when some are much more valuable than others.
  - SilverBirch 4y ago
    Meta makes revenues of about $15Bn in US & Canada, $8Bn in the EU and $10Boutside of EU & US/Canada each year. So it's clearly not nothing, and it's not like Twitter can afford to be picky about where it makes money.
    - CamelCaseName 4y ago
      Meta is insanely deep in those countries outside the EU/US/CA though. As in, they are "the" internet for users who get it for free on their mobile plans and everything else costs exorbitant amounts of money. I don't quite think Elon could do that, unless Starlink really takes off I suppose.

eric_cc 4y ago

> people like Musk and SBF What a ridiculous take. It’s also very telling of where you get your information. Orange Man Bad has transitioned to Elon Bad.

matwood 4y ago
Is there an information source that says he didn't massively overpay and saddle Twitter with a near insurmountable debt load? Reports are Twitter has stopped paying its bills [1], which is common when bankruptcy is inevitable. [1] https://www.nytimes.com/2022/12/13/technology/elon-musk-twitter-shakeup.html https://www.nytimes.com/2022/12/13/technology/elon-musk-twit...
- eric_cc 4y ago
  > nytimes Point proven.
  - matwood 4y ago
    Which point was (dis)proved? That he didn't overpay, he didn't saddle the company with a huge amount of debt, or that Twitter isn't paying its bills?