kolbe

34 ms·

391.
by kolbe 4y ago
It's total clickbait. Also, the article mentions they bought 4000 acres in 2 years. The vast majority of this is rural, where farmland runs 5-20k per acre. Let's be generous and say they spent 50k per acre. That's $200mm doll
392.
by kolbe 4y ago
FTX is interested in being a real business. I think a lot of people the past several years have failed to try to become a real sustainable business, and instead have been pawns in Benchmark's and Tiger Global's schemes to flip com
393.
by kolbe 4y ago
This is the case for most market makers in whatever markets they're in. A crash usually produces a huge trading windfall, and then the subsequent "recession" leaves people with little money to invest/gamble with. FTX&#x2
394.
by kolbe 4y ago
This is true for some asset classes. I cannot speak to crypto, though.
395.
by kolbe 4y ago
What's $10bn less short term cap gains taxes less $4bn?
396.
by kolbe 4y ago
Honestly, every single news outlet sensationalizes like this. It's a sad state of reality, but it's very hard to find news that doesn't do stuff like this. I found this headline the other day at CNN: "Anyone can get monk
397.
by kolbe 4y ago
Can we not appreciate the humor in this guy writing an article about google putting his ads on sites with politics he disagrees with (after not telling them about said politics), and yet he cannot even hold himself to the basic requirement
398.
by kolbe 4y ago
I don't know why you keep harping on this IPO pop idea. It doesn't apply to funding rounds that took place 30% ago on the Nasdaq and 70% ago in growth stage equity. Frankly, up until the pandemic, it was looking doubtful that the
399.
by kolbe 4y ago
I want something that involves advanced science, but doesn't feel forced.
400.
by kolbe 4y ago
Billions is a small number in the US Treasury market. They do not move the market with that kind of size.
401.
by kolbe 4y ago
> The regulators are not corrupt. And what would you say the basis for you believing that is?
402.
by kolbe 4y ago
I can't speak for Amazon, but in finance, employers are much more interested in the tools that Economists learned in the process of getting their degrees than they are in their economic forecasts.
403.
by kolbe 4y ago
I think the term "hard science" is squishy enough to where you both can argue in good faith, but have a different definition in-mind. I agree that Econ doesn't quite have the hardness of say Physics, but insofar as you can ch
404.
by kolbe 4y ago
I don't know why you're getting downvoted. When I first took econ, we used a book by Gregory Mankiw that featured a list of 10 things that Economists generally agreed upon, and the percentage of Economists in some survey that agre
405.
by kolbe 4y ago
What profit does your company generate? I wouldn't call anything 'cushy' or stable until there's a reliable way to cover all expenses and investor expectations--especially given how badly company have exploited Goodhart&
406.
by kolbe 4y ago
I lived the 2008 crisis, so maybe I'm overly pessimistic about investment managers from what I saw back then. But it seems to me that it's easy to appear respectable when everyone is making money, but true honor is tested in times
407.
by kolbe 4y ago
The vast majority of bankruptcy courts place customer accounts ahead of creditors.
408.
by kolbe 4y ago
Every single user account is a liability.
409.
by kolbe 4y ago
I know it's not easy, but generally the penalties are less than say investing in something that's 3x overvalued and will be locked up costing 3% a year in management fees for 15 years.
410.
by kolbe 4y ago
Do you know what kind of size they lever with? Because if JPM is on the hook for like $20bn on 2:1 leverage, then they're already looking at negative net equity.
411.
by kolbe 4y ago
They actually charge 3/30
412.
by kolbe 4y ago
“Show me the incentive and I will show you the outcome.” — Charlie Munger He has evidence of excessive risk taking (Tiger Global's returns), and an incentive structure that makes it logical for them to behave this way. That alone isn&#
413.
by kolbe 4y ago
My guess is they're rapidly trying to deploy their capital before investors rescind their pledges. Once it's deployed, they can collect fees on it for decades.
414.
by kolbe 4y ago
So, you don't even bother respecting what I wrote? Cool. I'm sorry I bothered to help you. If your definition of "Ponzi Scheme" is simply that a company is profitable the moment they go public, then not even the original
415.
by kolbe 4y ago
This is just because you didn't watch Fox. Fox and Limbaugh had been milking the idea that news should be about invoking outrage and gaslighting for a very long time. MSNBC copied the model starting about 2010, and then every single ne
416.
by kolbe 4y ago
Also an interesting way in which the rich avoid taxes. If she had paid for the writing, it would have been taxed as a service, but instead there was a wink/nod service then donation.
417.
by kolbe 4y ago
$FB was barely profitable, IPOing with a 400 P/E. And they had losses in two consecutive quarters a year after the IPO[1]. AMZN wasn't profitable for 7 years, then fell to unprofitable again in 2012 and 2014[2]. AAPL was net in th
418.
by kolbe 4y ago
That term gets used way too often and way too loosely. At some level, everything is a Ponzi Scheme. I think "pump and dump" is more accurately descriptive. And you never know: YC suppressing bad press on HN and promoting good pres
419.
by kolbe 4y ago
Would you rather $1 per BTC on 1m BTC transacted or $10 per BTC on 500k transacted?
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by kolbe 4y ago
However, the spread they make on their transactions gets wider as price action is more volatile.

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