- the balance sheet breaks out a few of our biggest long positions; we obviously have hedges that arenโt listed
- given the tightening in the crypto credit space this year weโve returned most of our loans by now
A few notes on the balance sheet info that has been circulating recently:
- that specific balance sheet is for a subset of our corporate entities, we have > $10b of assets that arenโt reflected there
It's been an incredibly formative experience working with @AlamedaTrabucco. I've missed having him around in recent months, but I'm proud of all the other Alameda employees who have stepped up and more excited than ever about our future. I hope he has a great time on his boat!
It's with the same goal that I'm announcing today that I am stepping down as co-CEO of Alameda Research -- @carolinecapital will continue on as Alameda's CEO. I will stay on as an advisor, but otherwise will not continue to have a strong day-to-day presence at the company.
There's a reaction people have when they hear about EA that's like "well but when you do the math, that would mean [all these issues that people care about] are less important than malaria, and we should just spend all our time talking about malaria, but that would be absurd."
Then when a new thing comes up, try and ballpark how much it's worth. Below some threshold, ignore it; above some threshold, drop everything and focus on that; otherwise, slot it in somewhere.
It comes more from looking for the biggest problems or opportunities, and actually trying to address them.
And recognizing that hard decisions are hard and you're gonna get some wrong, but trying not to fuck up the easy ones.