@mwseibel Because the market was giving tech like multiples for financial services that should be judged on net earnings through the cycle versus revenues (by giving out dollars mind you)
Alright. I figured out the Solana x Wormhole Bridge hack. ~300 million dollars worth of ETH drained out of the Wormhole Bridge on Ethereum. Here's how it happened.
It's actually crazy how much technology companies change over time
Netflix used to mail CDs, now they're a production studio with streaming
Amazon used to sell books, now they run the world's datacenters
Stripe used to be a payments API, now they're an Irish mob
Happy new year!
Today, a mini-tweetstorm of some of the things I've said and written over the past decade, and what I think about those subjects today.