4 ms·

Can we show the black banner, please?

by ra 3y ago

davidivadavid 3y ago
When is it that "hackers" and people into doing risky businesses started getting so into in the most boring, most conservative investor of all time? That tells you enough about how this whole segment of the population jumped the shark and just started worshiping the same version of success as Wall Street. The day HN shows a black banner for him, that site is officially over.
- kypro 3y ago
  > When is it that "hackers" and people into doing risky businesses started getting so into in the most boring, most conservative investor of all time? I won't comment on the general sentiment of your comment, but I will take exception to your characterisation of Munger as "the most boring, most conservative investor of all time". Munger throughout his life Munger came up with many interesting (and sometimes controversial) ideas, he even made some fairly risky speculative investments. For example just in recent history he was looking to invest in building windowless dorms to much push back and outrage. He also made a very risky leveraged bet on Alibaba which was far from conservative.
  - davidivadavid 3y ago
    Yup, the shitty dorm is indeed the one thing that stands out, of recent memory. Not sure that helps his case. That he made one uncharacteristically risky bet isn't exactly proof of anything, either. I'll happily grant you that my language was hyperbolic, however.
- yreg 3y ago
  Y Combinator is a business incubator, of course investing is relevant here.
  - davidivadavid 3y ago
    "Of course" the kind of investing Buffett and Munger do/did is the point here, not investing in general. Y Combinator is 1) early stage 2) tech. Neither of which are what Buffett and Munger cared about. You could make a good case that Buffett and Munger are the most "anti-tech" index around, almost a perfect YC hedge.
    - yreg 3y ago
      If it's the most anti-tech then it's relevant as well :)
      - davidivadavid 3y ago
        No one's saying it's not relevant — what's surprising is not the recognition, it's the endorsement.

Can we show the black banner, please?

by ra 3y ago

Can we show the black banner, please?

When is it that "hackers" and people into doing risky businesses started getting so into in the most boring, most conservative investor of all time? That tells you enough about how this whole segment of the population jumped the shark and just started worshiping the same version of success as Wall Street. The day HN shows a black banner for him, that site is officially over.

kypro 3y ago
> When is it that "hackers" and people into doing risky businesses started getting so into in the most boring, most conservative investor of all time? I won't comment on the general sentiment of your comment, but I will take exception to your characterisation of Munger as "the most boring, most conservative investor of all time". Munger throughout his life Munger came up with many interesting (and sometimes controversial) ideas, he even made some fairly risky speculative investments. For example just in recent history he was looking to invest in building windowless dorms to much push back and outrage. He also made a very risky leveraged bet on Alibaba which was far from conservative.
- davidivadavid 3y ago
  Yup, the shitty dorm is indeed the one thing that stands out, of recent memory. Not sure that helps his case. That he made one uncharacteristically risky bet isn't exactly proof of anything, either. I'll happily grant you that my language was hyperbolic, however.
yreg 3y ago
Y Combinator is a business incubator, of course investing is relevant here.
- davidivadavid 3y ago
  "Of course" the kind of investing Buffett and Munger do/did is the point here, not investing in general. Y Combinator is 1) early stage 2) tech. Neither of which are what Buffett and Munger cared about. You could make a good case that Buffett and Munger are the most "anti-tech" index around, almost a perfect YC hedge.
  - yreg 3y ago
    If it's the most anti-tech then it's relevant as well :)
    - davidivadavid 3y ago
      No one's saying it's not relevant — what's surprising is not the recognition, it's the endorsement.