Some key quotes from @HesterPeirce's 🔥🔥🔥 statement on the approval of spot Bitcoin ETFs (honestly makes me wonder if it's ever awkward in the SEC office 😂):
"Today marks the end of an unnecessary, but consequential, saga."
"For reasons I have explained many times before, the logic of the long string of denials is perplexing."
"the Commission has driven retail investors to less efficient means of attaining bitcoin exposure in the securities markets."
"until a court reminded us that our “unexplained discounting of the obvious financial and mathematical relationship between the spot and futures markets falls short of the standard for reasoned decisionmaking,”[6] we persisted in denying a spot bitcoin ETP."
"The Commission, rather than admitting error, offers a weak explanation for its change of heart."
"We squandered a decade of opportunities to do our job."
https://t.co/WoPZYrfW1O
@nic_carter@OnTheBrinkCIV Blockchain timestamping from a major phone manufacturer feels both incredibly valuable and feasible, and yet it's probably the one I am most skeptical of, somehow.
Complaints are valid and often necessary
That said, they’re rarely productive when cast freely with regularity, without attempts to first empathize, create real dialogue, educate or act
I appreciate those that speak up but have huge respect for those that do something 🫡
@coookwithchris How much meat is on the bone for your bones for bone broth? My butcher has a significant amount of meat left on his, and I wasn't sure if the broth will be lacking due to the relatively fewer bones I'm putting in because I'm adding in the whole chunk by weight.
Imagine holding a seat of power at one of the fastest accelerating companies in history, with the fastest product adoption of all time, whose poised to create AGI, and potentially a literal synthetic god. Domestic and foreign politicians whisper in your ear jockeying for power, along with every Fortune 500 company. Meanwhile nation state level threat actors attack your infra for both your secrets and god knows what your customers secrets are. And on top of it your own government wants to know if you’ll cause a human extinction.
That’s gotta be some wildly intoxicating power trip. The intricate political plots, alliances, betrayals, and struggles for power going on behind the scenes that are spun between nations, corporations, and billionaires all vying for control over the development of AGI has got to be insane.
Whatever the public reason for Sam Altman’s departure and the rest of the fallout can only be some small part of the full story. And the power games, seen or unseen, are going to get more extreme as the stakes get higher.