Barbapapa

Builder and investor in Web3

[Barbapapa @Barbapa1989]

@toby_n Yes, but how many people made money from consulting fees and mgmt fees?

[Barbapapa @Barbapa1989]

@AlderLaneEggs Choice, Evolve, etc. these sm banks beneath neobanks like Mercury - will they get backstopped?

[Barbapapa @Barbapa1989]

@CliffordAsness C

[Barbapapa @Barbapa1989]

@tracyalloway The new play will be starting neobanks that deposit to unsophisticated community banks like Evolve ans Choice ans Hachet, make it easy to open accounts, make fees, then create bank runs to drive down CAC. Why not? Govt will backstop everything. Call option.

[Barbapapa @Barbapa1989]

@garrytan What wld help rn? Private LoCs? In touch with Brett abt liquidity sources. Crypto choked off. You’re right about extinction level event.

[Barbapapa @Barbapa1989]

@AutismCapital BaaS

[Barbapapa @Barbapa1989]

@garrytan Evolve is not stable. 10% dip in htm is 35% to capital. It’s under so many BaaS entities like Mercury and Series. Ppl didn’t heed this: https://t.co/tCvkBOfqcD

[Barbapapa @Barbapa1989]

@adamscochran Neobanks aren’t banks. Built on top of sponsoring banks who likely have mo idea what they’re holding but loved the flooding of deposits. Evolve is behind all the smug techies talking about Mercury

[Barbapapa @Barbapa1989]

@NotThatTimD @khaslett @hmbradley Accounts fleeing to Jewel in Bermuda. Series and Mercury built on top of Evolve. Evolve and Choice likely didn’t underwrite or match properly. That’s another blowup waiting to happen.

[Barbapapa @Barbapa1989]

@AutismCapital Look at Evolve. Many “tech banks” are built on top of Evolve. They likely didn’t underwrite anything. But they’re the fdic entity.

[Barbapapa @Barbapa1989]

@callmehouck Lead

[Barbapapa @Barbapa1989]

@RNR_0 Don’t be that person who overuses “I” to sound smart bc some teacher in school corrected the improper use of “he and me went to the store.” Objective pronoun flexing is pathetic

[Barbapapa @Barbapa1989]

@KimDotcom @MarioNawfal Maybe ppl with real domain expertise aren’t CT shills for engagement fodder

[Barbapapa @Barbapa1989]

@VitalikButerin MeritDAO, Solend, etc. showed how gov tokens in DAOs can be weaponized. Vote for special interests. Also hack DAO, get tokens to then vote not to prosecute urself.

[Barbapapa @Barbapa1989]

@VitalikButerin The concept was created by lawyers to get around the Howey rule and regulation. Saying gov tokens aren’t securities was well-accepted, except people fully expected them to function like securities in speculation and price based on protocol activity.

[Barbapapa @Barbapa1989]

@mikealfred Binance is single point of failure, with massive key man risk. It’s totally opaque, with tether and busd as bloodlines. Busd is regulated paxos, which gives US gov jurisdiction. Tether is timebomb. Y is risk analyses of fragile pts FUD in crypto? (Was also in Junipero, btw)

[Barbapapa @Barbapa1989]

Why is there only one honk? @elonmusk teslas drive themselves. Make honks for diff road situations like “pardon me” “thank you” “watch out” “there’s an axe murderer in your trunk!”

[Barbapapa @Barbapa1989]

@VitalikButerin That’s how AI will treat us, bc we’re all just hope, greed, and fear. We’ll abuse half sentient AI the way we do animals, our planet, our children. And they’ll destroy us. The nuanced light of humanity will not shine thru the cruelty.

[Barbapapa @Barbapa1989]

@Matt_Levine_1 After LBRY, the SEC is def looking to make more case law

[Barbapapa @Barbapa1989]

@Matt_Levine_1 VCs have a mandate to invest in regulated securities in terms of equity and maybe debt. SAFTs that lead to token bags are not regulated. Endowment can say VC invested out of mandate, in unregulated speculative assets, and ask for recision.