I have built a spreadsheet. It has 847 rows. Each row is a community bank in the United States with a market cap below $200 million, a price-to-tangible-book ratio under 0.85, a non-performing loan ratio below 0.4%, and a CEO who has been in the role for at least twelve years. I update it every Sunday from 6 AM to 11 AM while my family attends church without me. I have visited the headquarters of nineteen of these banks in person. I have eaten a complimentary lobby cookie at each one. The cookies are how you can tell. A bank with a good cookie is a bank that respects its depositors. A bank with a stale cookie is a bank that will be acquired within 36 months at a 40% premium. I am never wrong about the cookies. The cookies have never lied to me. The cookies are the only thing left that tells the truth.
The dilemma occurring in Theta is as follows:
First: Funding for operational and investment activities comes at the expense of the THETA token.
Second: Theta Labs continues to develop the technology without launching actual products, while the cost of funding is borne by individuals (us).
Third: The selling of the Theta token exerts regular downward pressure on the price. This selling occurs at price averages; the price of Theta drops, and then someone comes along telling us to "buy the dip."
Fourth: Funds are spent, forcing Theta to liquidate THETA tokens from its reserves.
Fifth: They continue developing the technology without products.
Sixth: The price of Theta continues to decline.
This is the dilemma:
Theta token is the financier of the project. This would be acceptable if there were functional products and a customer base. However, we are currently facing a lawsuit that undeniably affects institutional fund investors. Their natural choice is to sell. Additionally, two members left Theta and sold their stakes, which pressured the price, following Theta Labs' own previous sales which also pressured the price.
Continuing with this funding model will drive the Theta token down to ONE cent.
The CFO at Theta Labs must explain this to the engineers:
continuing on this same path without cash flow from Theta products will impact or more accurately, crush the node operators.
Theta Labs must fund its operations through cash flow in my view, this is a critical turning point.
I have a secret to share
After your first $2β$3 million, a paid off home and a good car, there is no difference in quality of life between you and Jeff Bezos. Both of you have limited amount of time on earth; you have twice if not more than Jeff, so you are richer than him. A cheeseburger is a cheeseburger whether a billionaire eats or you do.
Money is nothing but a piece of paper or a number in your app. Real life is outdoors.
Become financially independent; thatβs usually 2β3mil. Have good food. Enjoy the relations. Workout. Sleep well. Call your parents. Thatβs all there is to life. Greed has no end.
Repeat after me: Time is the currency of life. Money is not.
Sooner you figure this out, happier you will be.