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Bitcoin has dropped about the same amount as Netflix, Meta and Tesla (~70-74%) It has significantly outperformed VC darlings like Peloton (-93%) and WeWork (-9
by spaceman_2020 4y ago
Bitcoin has dropped about the same amount as Netflix, Meta and Tesla (~70-74%)
It has significantly outperformed VC darlings like Peloton (-93%) and WeWork (-90%).
You can't tell me that WeWork stock wasn't working on the greater fool theory any more than Bitcoin's price works on finding more bagholders. It's all a grift, some worse than others.
- ycombobreaker 4y agoPeloton in particular was a beneficiary of the pandemic and lockdowns. With no ill will, I'm content to see their stock price drop if it is correlated with an improvement in the general state of the world. It's absolutely not informative to compare their returns to various crypto.
- dilyevsky 4y agoPeloton got massively mismanaged by its ceo.
- jakelazaroff 4y agoWeWork wasn’t public, and SoftBank in particular seems more than willing to be the greater fool on bets we all know are terrible.
- yunohn 4y agoEquity/market are down generally, and some VC companies are frauds. That doesn’t change the fact that crypto is zero/negative sum.