metadao will win

The cat is out of the bag. There’s no reason to step in to buy bitcoin until Saylor has been carried out back and all leverage/debts are cleared. Up to that point no amount of cash raise will save him. STRC is already dead btw, what institutions buy this credit instrument after such mismanagement and depeg?

it would be zero

I have also dmed few Time to build where things are actually happening MetaDAO

In this particular instance, Saylor probably should go to jail for egregiously marketing this as a no risk instrument. Also throw whichever intern made those AI ads into the slammer with him just for fun

1929, the collapse of the Investment Trusts: By now it was also evident that the investment trusts, once considered a buttress of the high plateau and a built-in defense against collapse, were really a profound source of weakness. The leverage, of which people only a fortnight before had spoken so knowledgeably and even affectionately, was now fully in reverse. With remarkable celerity it removed all of the value from the common stock of a trust. As the price structure crumbled there was a sudden stampede to get out from under. Where were the big operators who had declared that they were still bullish? Where were the powerful bankers who were supposed to be able at any moment to support prices? There seemed to be no support whatever. Down, down, down. The roar of voices which rose from the floor of the Exchange had become a roar of panic. Operating companies at the end of the holding-company chain were forced by the crash to retrench. The subsequent collapse of these systems and also of the investment trusts effectively destroyed both the ability to borrow and the willingness to lend for investment. What have long looked like purely fiduciary effects were, in fact, quickly translated into declining orders and increasing unemployment. The stabilizing effects of the huge cash resources of the investment trusts had also proved a mirage. In the early autumn the cash and liquid resources of the investment trusts were large...But now, as reverse leverage did its work, investment trust managements were much more concerned over the collapse in the value of their own stock than in the adverse movements in the stock list as a whole… Under these circumstances, many of the trusts used their available cash in a desperate effort to support their own stock. However, there was a vast difference between buying one's stock now when the public wanted to sell and buying during the previous spring—as Goldman Sachs Trading Corporation had done—when the public wanted to buy and the resulting competition had sent prices higher and higher. Now the cash went out and the stock came in, and prices were either not perceptibly affected or not for long. What six months before had been a brilliant financial maneuver was now a form of fiscal self-immolation. In the last analysis, the purchase by a firm of its own stock is the exact opposite of the sale of stocks. It is by the sale of stock that firms ordinarily grow. However, none of this was immediately apparent. If one has been a financial genius, faith in one's genius does not dissolve at once. To the battered but unbowed genius, support of the stock of one's own company still seemed a bold, imaginative, and effective course. Indeed, it seemed the only alternative to slow but certain death. So to the extent that their cash resources allowed, the managements of the trusts chose faster, though equally certain death. They bought their own worthless stock. Men have been swindled by other men on many occasions. The autumn of 1929 was, perhaps, the first occasion when men succeeded on a large scale in swindling themselves.

metadao is internet capitalism. and on the internet you cannot ignore the importance of cults

CT still has a v poor understanding of what it takes to create a successful startup

The man has spoken

metadao

metadao

Si à 40 ans, une Italienne t’a jamais parlé comme ça, t’as raté ta vie.

theyll never be able to afford a nest

“The government is too big. It’s too intrusive. It restricts what we can do. It’s becoming our master instead of our servant.” — Milton Friedman

This entire article glosses over the fact that no, in fact, this is not how any of this works, and it's like arguing that "if we strap a rocket booster to a school bus, the kids would have gotten to school faster instead of dying horribly if we could have just driven better".

I think you still need both, but the main lede is: technical founders now have access to business thinking Business founders now have access to technical thinking Net net: more startups that actually work, period

"In frontier engineering, morale does not only come from mission. It comes from believing the company will survive long enough for impossible work to compound." "Put together marginally enough resources > buy engineering time > ship impossible progress > earn more credibility > unlock more resources > make the next impossible bet fundable"

if @elonmusk paid 100% of his net worth ($1.4 trillion) as a tax it would only cover federal government spending for 77 days. this isn’t a tax problem…

Meta HQ right now.

To be fair to Ackman this is actually the classic @matt_levine trade. @SpaceX is now a @elonmusk AI Treasury Company a la BTC. If Elon is a multiplier on the true value of AI assets, then what do you do? You keep selling stock and using it to buy AI assets. It's a great trade!