awrence

53 ms·

31.
by awrence 7y ago
Well a couple things. First as another commenter pointed out i believe correctly, this tweet was sent before that aggreement was finalized so your point is moot technically. But let's assume for the sake of market integrity CEOs should
32.
by awrence 7y ago
Yeah certainly seems as far as that whole thing is concerned no one cares to check / reinforce on the SEC side :) not that we can know for sure tbh. Bit of a super grey area all this imho. But like, if you're a potential TSLA inve
33.
by awrence 7y ago
That aside, 112k reported Q4. That's pretty damn close to 500k annualized.
34.
by awrence 7y ago
If the SEC's new standard is to reprimand every CEO that makes a forecast the company ends up coming short on they're gonna get pretty busy pretty quick...
35.
by awrence 7y ago
This feels like a semantics back and forth. Call it compound growth then. It's the same concept. This applies to all yielding assets. You can call it divs / buybacks for stocks and interest for bonds, but it's the same thing
36.
by awrence 7y ago
I agree but that doesn't negate the point. Any economic asset with limited supply has two sources of value. The first is intrinsic as you've correctly pointed out which through intrinsic demand by people looking to use the asset f
37.
by awrence 7y ago
All monetary value is entirely socially constructed, very similar to religion. And as with religion it naturally feeds on evangilizing and convincing others to join. The more adherents you have the more powerful your network / adoption
38.
by awrence 7y ago
I agree mathematically but wealth is very much a relative phenomenon, hence the term "inequality". Yes if an alien dropped a bunch of real wealth on the planet and gave it to a lucky individual, the others would be no poorer, but
39.
by awrence 7y ago
Nope, you're exactly right, and it's one of the main engines behind wealth inequality. Once you reach what I personally call material escape velocity, the point at which your lifestyle + inflation < yield on your capital, your
40.
by awrence 7y ago
Fair point. But assumes Bezos doesn't loophole capital gains taxes to 0, which I could be wrong about but i feel like he does. That effect will also be maxed out to cap gains rates.
41.
by awrence 7y ago
Inflation comes in different flavors. If all you do is print and hand out 1bn to each citizen, they'll just be able to outspend other dollar holders in the world. Prices will adjust, but the amount of real goods in the world per capita
42.
by awrence 7y ago
Bezos is basically entirely invested in stocks (Amazon). His exposure to monetary inflation is roughly 0. If the government hands out 1bn to everyone that'll happen at the expense of cash / bond holders. Prices from Amazon service
43.
by awrence 7y ago
You wouldn't be pissed for too long though :)
44.
by awrence 7y ago
I contend it's not. There are two main features which proper (decentralized) cryptocurrencies are supposed to offer. The first is censorship resistance. And I can assure you that however in the world you set up something backed by a fi
45.
by awrence 7y ago
All stablecoins are Venmo calling themselves decentralized cryptocurrencies. Venmo is honest and tells you it's managing a USD deposit balance for you and amending its private centralized ledger accordingly (and sometimes providing a s
46.
by awrence 7y ago
Which is basically my "regulatory loophole" comment.
47.
by awrence 7y ago
I loved the show but in case you missed it this was a very eye opening take that seems genuine. https://www.newyorker.com/news/our-columnists/what-hbos-cher...
48.
by awrence 7y ago
True. But they still 2-3 billion working for them for free. And then that's a specific example where they went and made poor choices with their funds etc. On paper if all you do is create a "stablecoin" and segregate funds in
49.
by awrence 7y ago
On paper, you're basically entirely right. Stablecoins including FB are all smokescreens to sell managing fiat on an internal database for you with "blockchain" wrapped around it. This project and stablecoins in general have
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by awrence 8y ago
That's very possible. Although I'm not sure how he imagines escaping to another planet would be a solution for whatever threat AI specifically might pose. I'm pretty sure it would find a way to follow you through the solar sy
51.
by awrence 8y ago
Exactly. Although I wouldn't personally think he built Tesla to potentially support Space X. He gave it the same 10% slim chance of success when he started as Space X, and he allocated to it roughly the same amount of funds ~ 100mm to
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by awrence 8y ago
That is most probably not going to happen. It was the original plan but it would have involved landing legs coming out of the heat shield which NASA was queasy about and would have involved quite a bit more effort to develop. Crew dragon is
53.
by awrence 8y ago
What you're describing is basically an insurance mechanism. There is no reason you couldn't implement the same for cryptos. But at least under that explicit framework, those who had not participated in that scheme would not have t
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by awrence 8y ago
True cryptocurrencies, read properly decentralized (which currently means through an expensive and well distributed PoW process) allow the creation of digital assets whose issuance and transfer mechanisms can't be tempered with by a ce
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by awrence 8y ago
There has just been immense confusion about what blockchain technology is meant to enable because unfortunately, amidst all the hype, a ton of people who don't understand the point of it have started to peddle the absolute non sense co