Important thread by Michael Burry of the Big Short and GameStop fame. In many ways the US is replaying the run-up to Weimar-style inflation, culturally and financially, flying stock market and all.
Notice how little attention is devoted to the trillions printed, where they went, what they're doing, how they are bidding up assets all over. Very little of this is analyzable as it's not on-chain. But if we use historical context to augment observable prices, we have a model...
"I began to see myself less as a mirror and more as a weapon....I would call some stories kills...I got a man fired because he talked to me...he was a sweet and gentle man. I still feel sick when I think about him. And I think about him a lot." chosenbychoice.substack.com/p/learning-how…
"journalism...is about raw power...Anyone who has ever negotiated to land a contentious interview...knows that you only get those interviews when your subject fears what will happen if they don’t...Today, that fear is disappearing." cjr.org/public_editor/…
Start your own company
Start your own community
Start your own currency
Start your own city apnews.com/article/legisl…
San Francisco sucks. You can build something better in the sands of Nevada. And decentralize tech to the rest of the world.
I’ve been working in this area for years with folks like @patrissimo@mwiyas@MarkLutter, so DM if you’re doing a project like this and seeking funding.
Tech companies: take all the money you’d have spent on an expensive office, and use it to bootstrap a city in NV.
Lower the cost of living for employees. Build an equity stake in land. Gain write access to your physical surroundings. Legalize self driving cars & delivery drones.
- Crypto is now a $1T industry
- Bitcoin and Ethereum have enabled >$1T in annual transaction volume
- Decentralized finance has ~$30B in assets
- Coinmarketcap.com is more popular than the Wall Street Journal!
It is now a global phenomenon.
NATIONAL SECURITY
Crypto defends India's national security by foiling deplatforming.
Bitcoin prevents financial deplatforming. Digital gold is a rail of last resort for crises like 2008.
And Ethereum prevents social deplatforming. Create social networks the US can't shut down.
1) can be coded by anyone, vs expensive lawyer 2) can be diligenced & used by anyone in any country 3) can be deployed in minutes, vs days to incorporate 4) blockchain enforces payouts, not legal system
As different as website & printed book.
Btw, hedge funds don’t “hedge their bets against one another”. The name is a legacy and many are actually high-risk vehicles.
It’s one thing for these people to know nothing about anything. It’s another to *not know how little they know*. And then to be snide about it!