I’ve been out long enough to say this, but one of the reasons I left academia for crypto was the sheer insanity that swept the sector due to this DEI mind virus thing. It became completely insufferable.
The people that run these training workshops are universally unhinged Marxists and / or arbitrary current thing activists. They confuse “speaking truth to power” with whinging about everything.
We went from hiring in some random consultant for an hour long workshop that went through a list of things that are cultural faux pas in different countries (fine), to hiring full teams that mainstreamed this weird theoretical grievance discipline into all things.
It operates on a debilitating psychosocial level that occupies spaces of perfect subjectivity. Things like “whiteness” and “unconscious bias” and “microaggresion.” I became convinced these concepts had been invented in a lab to be perfect organisational cancer. Squabble fuel.
The most insidious bit is that it has this kind of self protective auto immune effect where saying “wait, this is total bollocks”, is equivalent to declaring you are literally Hitler. So no one does.
I watched over the course of several years as it ground entire institutions to a halt, it went from 5% of an agenda to 70% then to entire purpose built committees, then the committees had committees.
We had baked it into everyone’s performance criteria, then into the curriculum of every course. Even computer science. Literally everything had to be passed through the lens of it. I saw lecturers accuse other lecturers of being white supremacists because they had no African scholars on their reading lists. I sat in equality and diversity committees and watched the people who run EDI training cancel each other for saying the wrong thing. It’s institutional mental illness.
It must cost us hundreds of billions at the national level, just due to all the wasted time, but now it’s provably lethal. If we annihilated it from the system it would add points to our GDP and save lives.
⚡️ NOW: Arthur Hayes dumps his entire $HYPE and $NEAR positions, citing rising energy prices, upcoming AI mega IPOs, and expecting market highs to peak before September.
this is the correct read imo
CT way over-dramatized the sale of 32 btc and i think it had little/nothing to do with yesterday’s PA
the real narrative violation wasn’t selling a few peanuts-worth of bitcoin, it was Saylor taking $1.3B in cash that he repeatedly implied was reserved multiyear STRC divs, and emptying it all into buying back converts in one fucking day, shrinking the reserves from multi-year to barely 6 months
this makes him look like a volatile retard that changes his mind on a daily basis and whose guidance is worth nothing
to make matters worse, the last STRC rates decision came in on monday i believe (or was it friday) and the lil shid decided not to increase the rates, even though STRC failed to repeg on previous ex-div date + he just increased everyone’s risk by nearly emptying the cash reserves (and like whatever, he could probably issue common to refill the reserves, but now we know the reserves mean nothing anyway because he’s a volatile retard. so STRC risk went up a lot regardless)
so i actually think yesterday’s PA was mostly triggered by the rate decision (which CT completely missed as is tradition), it’s basically STRC holders telling mikey “we don’t know who you the fuck you think you are, but if you want us to treat STRC like it’s a MMF you better start isolating it from your deranged personality disorders” and i have to imagine he received the message
unfortunately there’s a full month before he can raise rates again. so until then imo no issuance of new STRC, no purchasing of more BTC, and any issuance of common stock will be to replenish the cash reserves only
the only question is, can BTC survive a month of saylor not buying it? i’m not sure it can tbh. that’ll be the real test. he’s going to sacrifice commons and BTC, yes, but there’s a limit to how much sacrifice they can take before STRC holders panic even more
if we see saylor finding some loophole to allow him to increase STRC rates before the usual end of month date, then you’ll know he’s in full blown panic mode