@JoshInvests_@DeItaone Very few companies are valued based off of revenue instead of profit. OpenAI doesn't have any profit at this time. The only rational valuation model for $1.4tn would be a discounted future enterprise valuation.
Neither Cartier-Bresson, Banksy nor Cold War Steve could have come up with such an image. Absolutely perfect composition and lighting (even the road signs are perfect)! ๐
This is really really cool, @etheconomiczone just executed the first atomic L1 L2 tx on mainnet and imo this is going to have some massive market structure implications especially around fragmentation.
If you think about how ethโs scaled so far every new L2 basically creates another little economy that has to bootstrap its own apps, users and liquidity, which is why L2s have spent millions incentivising capital to bridge and ended up duplicating huge amounts of liquidity across different places.
Now imagine someone wants to borrow usdc on an L2, theyโd need enough usdc sitting there to fund the borrow, but if that application can access liquidity somewhere else atomically then you donโt need all that usdc sitting there in the first place.
Which is why I think this is really big because moving execution somewhere new will no longer mean having to bootstrap an entire economy around that new execution environment (L2), the economic state can stay concentrated on mainnet while execution happens across loads of different places so eth can concentrate the economy while distributing the execution.
That opens up a huge amount of design space for specialised rollups because a privacy L2 can just focus on being really good at privacy same for trading, AI, payments or whatever the L2 specialises in.
Which is also net good for users because your going to end up with a bunch of specialised rollups all competing for order flow from the same shared economy which means execution itself becomes the product.
I actually think this means we end up with way more rollups because the barrier to launching gets massively lower, and being able to tap into mainnetโs economic state while L2 teams can focus on optimising execution for their specific use case is a pretty hard proposition to reject.
So if these guys keep shipping weโll end up with one massive ethereum economy with execution happening across loads of specialised rollups instead of a thousand little economies connected by bridges, which sounds a lot more like how eth was meant to scale in the first place lol.
@HenninNolan People over profit is misleading.
There are under a dozen billionaires in BC. Taxing them more won't solve the NDP's spending problem.
Reducing NDP spending is the best thing we can do.
14 billion in debt is $2k per BC resident that has been spent.. has your QOL improved?
@shaxphere@JimChuong You can take out loans against your positions to cover expenses. This isn't income.
You can position the sales of your positions to minimize your taxes owed and never accruing income
@CryptUrbs@JimChuong Unless your corp is an eligible corp for the preferential dividend tax rate there's no difference between it and income taxes.
Shareholder loans, and reinvesting into corporate assets is where you get ahead
@samforcanada@by__brittany With this logic, it's clear the NDP has been in charge during a decline in quality of living for BC residents.
Let's vote them out so we at least have a chance of improvement
EtherFi is launching their own stablecoin, powered by Ethena Whitelabel.
@ether_fi has >$300m of stablecoin deposits held across their platform. Reserves, mint and redeem, & compliance for @ether_fi USD will be managed end to end by Ethena.
Since launching their category-defining Cash card in 2024, they have scaled to nearly $1 billion in cumulative spend and more than 100,000 active cards.
The best stablecoin neobanks will move to own the entire stack and earn from idle deposit balances alongside their broader product suite.
@m_snoddon This is misleading. They can retain their profits within the corp (which encourages business spending - good for the economy), but if they want to use it personally they pay the full increased tax rate.