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@shitmgmtsays@mstdn.social
@ShitMgmtSays
Realizing synergies from monetized eyeballs // mastodon: @shitmgmtsays@mstdn.social // Instagram: @shitmgmtsays
Mar 18, 2023 • 10 tweets • 3 min read
Another anecdote on what “founder friendly” at SVB means—skirting basic KYC protocol at their own risk

SVB’s collapse will look inevitable in hindsight. There’s a reason no one is buying it even in a fire sale Image It’s revealing to see SV founders crying about the slightest inconveniences in their banking experience. Physical address, normal interest rates and standard collateral. These barriers are what mom & pop non-tech SMB face with normal banks, and it’s normal for high risk customers
Mar 16, 2023 • 5 tweets • 2 min read
I think it’s the face and excess of Silicon Valley in the last ten years that has damaged the brand of tech

There has been plenty of tech innovation which has improved our quality of life. Planes crash less frequently, fewer patients die on the surgical table, you can WFH But for every 3D printed dental crown that you can now receive on the spot, there are ten failed food delivery services.

Big VC at some point lost their way. Too much free cash, they invested it sloppily, and all the while catering more and more to their insular elite interests
Jan 14, 2023 • 14 tweets • 4 min read
Important to highlight that Excel’s row limit brought down Charlie Javice

cc: @ryxcommar Due diligence check #2: code to search all docs for Excel row limit multiples

We are learning so much, investing is easy

Jan 13, 2023 • 5 tweets • 2 min read
“Gentlemen, there’s only two ways I know of to make money: bundling and unbundling.” Jim Barksdale, Netscape CEO

hbr.org/2014/06/how-to… Happening in fintech/crypto today
Jan 13, 2023 • 4 tweets • 1 min read
This is really where Ackman’s defense goes awry

First, helpful to understand his view, why he keeps standing up for SBF. Ackman’s case with regulators was very different though in that this is the crypto/blockchain/social media era, where more case facts are just out there Caroline admitted the use of customer funds, and SBF has owned the fact that all Alameda decisions fall at his feet. Transitive property alone. SBF stole customer funds. Let alone all the other nonsense SBF has directly/indirectly owned up to.
Dec 18, 2022 • 4 tweets • 2 min read
I think we just watched a billionaire learn something lol at “moderate”
Dec 16, 2022 • 12 tweets • 3 min read
Not to single this guy out, but this is the common take coming from tech dweebs/VC/Silicon Valley broadly, and it’s so wrong on so many levels— Image First, dismissing running a social media platform as easy. Sure it's not rocket science, but it's the social stuff in life that is the hard part (and the best part). Anyone who thinks otherwise is a bot, frankly, and the most uninteresting person you’ll ever meet
Dec 16, 2022 • 4 tweets • 1 min read
Two things Musk needs:

1) Commercial ad revenue. Companies, please boycott. You’re violating your own ESG policies by paying for placement on this platform. Look at the two sentences about fairness and inclusion 2) External validation, adoration, and not feeling embarrassed. Can we organize a mass constant retweeting of his getting continuously boo’ed for five minutes on Chappelle’s stage? Like we all agree to retweet the video every hour for 24 hrs & post no other content? I’m serious
Dec 16, 2022 • 5 tweets • 2 min read
Calacanis is possibly the most insufferable human on the planet. On that Spaces chat, he doggedly made the same irrelevant, intellectually dishonest point over & over again, interrupted & cut off anyone who tried to get half a word in
Dec 14, 2022 • 5 tweets • 2 min read
Okay I read the rest of the testimony (most of it—SBF’s rambling storytelling is even worse in print) & I’m stunned his lawyers let him run with that tome of irrelevant & excessive nonsense

Are his lawyers bad, or is SBF insisting on being an absolute tool on the public record? Never has there been a better example of total narcissism in the business world. It’s in print, on the record. This jackass thinks he is the victim of the story & points the finger in ten different directions
Dec 13, 2022 • 4 tweets • 1 min read
The FTX debacle is only partly about SBF and his clown car of culpable. The other side, the one that is fixable yet chronic to market cycles, is of VC recklessness and narcissism. Crypto would never have taken off as it did recently without institional buy-in and validation They all had the capacity, but not the curiosity or duty of care to do real diligence. It’s FOMO plus a circle jerk of an assumption that, oh these other investment partners are smart—someone else must’ve done the work
Dec 13, 2022 • 4 tweets • 1 min read
SBF apologists. This was always the wrong dichotomy. If he had been right, Ackman endorsed someone who was already overendorsed by the media and countless others who gave him a platform to repeatedly cite the same excuses of basically being too busy to do his one job. Every— Opportunity to get someone’s ear counts. Every chance to get someone in power to sympathize with his sob story of “poorly labeled spreadsheet”tallies up in public opinion.

If Ackman is proven wrong, the impact isn’t about Ackman’s learning—no one cares.
Dec 12, 2022 • 5 tweets • 1 min read
Worst start-ups to emerge from ZIRP: the BNPL nonsense. Like, how short-sighted can you possibly be, to imagine a world where rates don't ever rise. Some spectacular ABS failure has played out in nearly every business cycle, because the investment community apparently has amnesia “All of these fintech firms talk about their data science and machine learning capabilities, but the truth is, their models have not been battle tested through a recession yet,” said Reggie Smith, JPM’s lead fintech stock analyst

wsj.com/amp/articles/f…
Dec 12, 2022 • 4 tweets • 1 min read
Similar deal w/ very attractive and very powerful people. Everyone laughs at their jokes, applauds their ideas, so they have no true feedback

The core issue is a lack of close friends/family, to provide real talk—by choice. You should expect Yes Men to follow power, money, looks Musk and Chappelle some level of narcissism that has led them to weed out criticism, even constructive, even when coming from close fam/friends. We, unfortunately, saw Grimes try to get Musk to pull back some of his cruel anti LGBTQ comments in the past, and he pushed her aside
Dec 12, 2022 • 5 tweets • 1 min read
Tuned into the SBF Spaces for the last two minutes. Someone asked if money actually moved from FTX to Alameda (or the reverse—tuned in late tbh) and SBF was like, “by money transfer, you mean the asset? Or ledger balance”

Is that gonna be his line of defense He will keep blaming a poorly labeled spreadsheet till the day he dies, not acknowledging the theft of customer deposits

A number of ppl speculating that he was gaming during this and all interviews. I think there is a level of nihilism to his PR blitz as well
Nov 19, 2022 • 54 tweets • 12 min read
Collecting some of the worst takes on Musk running Twitter with 50 dudes held captive by H1B visas

Jun 20, 2022 • 5 tweets • 2 min read
Musk does the right wing dogwhistling thing, talking about declining birth rates. Has 50 kids, spends no time with them as a father, opting instead to troll, buy Twitter

Sad thing is he also has a strained relationship with his equally broken father. The cycle continues Not even addressing naming his kids xaeudjne@$&3enolagay#
Jun 18, 2022 • 11 tweets • 6 min read
Not all crypto is a ponzi, but a lot of it sure is. Revisiting this transcript of the excellent Odd Lots podcast (cc: @tracyalloway @TheStalwart), convo between @matt_levine and @SBF_FTX

bloomberg.com/news/articles/… ImageImageImageImage @tracyalloway @TheStalwart @matt_levine @SBF_FTX TLDR you put your money in a box, people are like, hey what’s in that box, you’re like I don’t know but it seems like it might be worth something one day, an institutional investor gets laser eyes because he is greedy and lazy because VC is largely hyperprivileged men who have
Jun 16, 2022 • 20 tweets • 5 min read
I want to help people understand Cathie Wood’s marketing brilliance. She’s not nuts. I joke that she’s guided by Jesus (which she is), but it’s really doing her strategy a great disservice. When I refer to her work, I mean marketing, as a fund manager fighting for AUM.

Thread. Let’s start with a few quotes.

From Odd Lots, @TheStalwart and @tracyalloway’s excellent podcast, an interview with ARKK’s Head of Research Brett Winton (notably in February 2021, when ARKK was at peak AUM): "If you're wrong, that's fine, as long as you are uniquely wrong..."
May 22, 2022 • 10 tweets • 2 min read
If Elon Musk survives this moment—which consists so far of:
—sexual harassment allegations, accompanied by the confirmation of a sizable severance payment and NDA
—NYT documentary detailing FSD dangers and implied regulatory capture
(1/n) —Tesla’s horrific Social/Governance practices (racism, chronic worker safety violations, non-cooperation with NHTSA investigations re: FSD) highlighted by S&P’s removal of the company from its ESG index
—declaring himself a Republican, calling Dems the “party of division & hate”
May 21, 2022 • 5 tweets • 1 min read
It’s interesting that Musk/Tesla have no response to the doc. Their usual MO of spinning things to mislead and misdirect is so far absent, likely because they can’t.

I suppose the strategy now is “focus on the horse” Tesla/Musk’s lies/fraud matter beyond simply the stock market and auto companies. It reflects a level of regulatory capture that affects the safety and well-being of employees and literally everyone on the road, due to reckless autopilot technology.