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May 12 • 4 tweets • 3 min read
"Crypto Billionaires’ Vast Fortunes Are Destroyed in Weeks" - colour me #Schadenfreude! They got rich pumping a technology that has consumed vast material and human resources, and produced no services of value to humanity so far other than entertainment. bloomberg.com/news/articles/…
Re entertainment: if you see #crypto as mainly a branch of the gambling industry, it all makes sense. Remember the vast poker craze a few years back? People like to gamble - and if they can tell themselves they are changing the world at the same time, expect a big bubble.
Who puts their life savings in a crypto coin? Who borrows from the bank to fund #crypto investments? There are answers I can think of: shrewd investors with bad timing; victims of a scam; gambling addicts; or complete idiots. What do you think?
…-independent-co-uk.cdn.ampproject.org/c/s/www.indepe…
If you want to get under the hood of the #TerraUSD #LUNA scam-sorry-scheme, listen to this recent conversation between @stablekwon and @azeem on @ExponentialView podcast. Kwon is a genius! Stablecoin are the future! Until suddenly he isn't and they aren't.
hbr.org/podcast/2022/0…

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More from @MLiebreich

Michael Liebreich Profile picture
May 1
So, this Mayday we're still on break between Season 5 and Season 6 of @MLCleaningUp. My guest for Episode 1 of Season 6 is an immense figure in climate finance - find out who it is at the end of this thread. Meanwhile, let's recap the top 12 most popular episodes so far... 1/14
In 12th place it's "Green Trade or Green Tradeoff", with former Australian PM Tony Abbott. Not known for supporting climate action, his is an important voice nevertheless. And we agree that trade is essential to reduce the cost of clean solutions. 2/14
cleaningup.live/ep52-tony-abbo…
In 11th place, it's "The Man in Charge of Charging", @PRomano_OG, CEO of @ChargePointnet. Transport is going electric, it's going electric fast, and here's why. 3/14
cleaningup.live/ep71-pasquale-…
Read 21 tweets
Michael Liebreich Profile picture
Apr 16
Another day, another 24,200 vertical feet of off-piste with @bertrandpiccard & friends in @LesDiablerets. All conditions - blue ice, fabulous spring snow, waterlogged slush - successfully negotiated. Such a privilege to spend time up here doing this with great friends.
This was fast and fun. Note to self: do more of this.
Bertrand had his moments too. Worth watching this with the sound on!
Read 5 tweets
Michael Liebreich Profile picture
Apr 15
Episode 83 of @MLiebreich - Alex Honnold "Free Solar" - was such an extraordinary conversation. One of the topics @AlexHonnold and I dived deeply into in was risk, something he has thought deeply about (for obvious reasons!). Listen up...
youtube.com/clip/Ugkx-nwSa…
Alex does what he does by drawing a crystal clear distinction between "risk" - which he defines as the probability of him falling while free soloing and which he sees as negligibly small - and "consequence" - the certainty of death if he does fall. youtube.com/clip/Ugkx-Cdxz…
Then we added the time dimension, which is so important for climate risk: the difference between @jrockstrom's (Episode 49)'s Commitment Time and Impact Time. Alex distinguishes between climate angst and physical fear, which is why the world is not acting.
youtube.com/clip/Ugkx-W6NQ…
Read 4 tweets
Michael Liebreich Profile picture
Mar 24
This is fantastic news: today, at its 2022 Ministerial Meeting, @FBirol announced that the @IEA would be making its energy data freely available "in the interest of supporting data transparency and supporting good decision-making."
youtube.com/clip/Ugkx-15FS…
This is a major milestone in the campaign that @MBazilian, @afromusing and I - and quite a few others - helped kick off a decade ago with this paper:
econpapers.repec.org/article/eeeene…
There have been many people involved along the way. Of particular note, everyone behind @openmod #openmod, @daniel_huppmann, @nworbmot. I would like to think I gave them a modicum of useful support via my #freethemodels hashtag.
Read 6 tweets
Michael Liebreich Profile picture
Mar 2
My latest piece for @BloombergNEF is a deep dive into the concept of resilience. What are the risks against which we need to protect ourselves? How much money should we spend? And are there trade-offs between resilience to climate and other types of risks?about.bnef.com/blog/the-quest…
In January 2022, the World Economic Forum’s Global Risks Report identified the top three “most severe risks on a global scale over the next 10 years” as biodiversity loss, extreme weather and, in top place, “climate action failure”. Seriously?
weforum.org/reports/global…
Russia is invading #Ukraine; the US and its allies are on a path to confront an increasingly authoritarian China. And Covid is still taking its toll on people and the economy. Surely any one of these presents a more severe global risk than climate change over the next decade.
Read 25 tweets
Michael Liebreich Profile picture
Feb 26
To all those who say the Russian invasion of #Ukraine is the wake-up call that will get the EU to reduce its gas use, I offer you this news story from 2014, when Russia annexed Crimea. Those who don't learn from history are doomed to repeat it.
bloomberg.com/news/articles/…
If we really want to help #Ukraine right now - in addition to weapons, targeted sanctions and cutting Russia out of the banking system - we need to stop buying Russian gas. Turn down the thermostats and boiler flow temperatures, stop heating empty offices, use the log burners.
When the current conflict is over, whichever way it ends up, this time we need to learn the lessons. Go heat pump, stop installing gas boilers. Electrify industrial heat. Take energy efficiency seriously. Build gas or H2 storage. Harden our infrastructure against cyber-attacks.
Read 8 tweets

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