So this is what I don't understand from Musk and the Trump supporters. They're now claiming Covid was a deadly Chinese bioweapon funded by USAID. But I thought the line was COVID was no worse than a cold, and lockdown was unnecessary.
Today I received for the first time an entirely AI generated conspiracy theory peddling video from a friend, using it as a "see I told you so". And tbf it looks pretty authentic, only when googling it do you really see its fake. This is going to get very messy.
@zachcoelius really well put. many are forgetting that even if there is a 1% risk of an outcome where you do not make payroll, the rational choice is to move your money somewhere so that this risk is minimised. to avoid this its entirely about the bank itself being trusted and safe
@lomax_ward also the irony in blaming the fed for current market conditions, ignoring the fact that the last ten + years was also massively driven by the fed with 0 complaints there. that was all alpha apparently.
Odd to see a company be so transparent about why it is laying off 2k staff when this is the reason: "The jobs cuts come as part of “Project Magnolia,” which McKinsey maintains will help the company preserve the partners’ compensation pool.". Wow, says a lot
A month ago it was "the army needs to intervene and arrest Lula and reinstate bolsonaro".
Last night started off with "it's Lulas fault, he is a criminal" and now apparently it was actually lulas supporters who infiltrated peaceful manifestations to cause chaos. Logical. 2/2
Seeing first hand with my Brazilian family and friends how people will form crazy beliefs to maintain consistency of thought to explain that "their side" is "right". In this case Bolsonaro+supporters=good / Lula+supp=bad. 1/2
The craziest part of this whole story will be in a couple of weeks when Gell-Mann Amnesia takes hold and people will be talking about FTX as a complete fraud but Binance and Tether as totally legit.
https://t.co/Ny5NB5YLsz
I'm sure many of the investors relied on the belief that Sequoia did extensive DD. However a 200m+ ticket for them - where house view is "A write off? no problem" - is not the same a 200m ticket for others. Always a danger for a follower in any round with a mega fund
@christianhern Think this is pretty comprehensive summary and a great read (TLDR: less chess by Binance more poor risk management and logic (to not speculate on nefarious intentions..which are possible) by FTX) https://t.co/BQsHXlnzEm
Too many of the takes on FTX events focus on CZ playing "chess" rather than the fact that trust, regulation & transparency would not have caused this mess to begin with