Ovodoff

Sup

[Eric Basmajian @EPBResearch]

The unrounded unemployment rate was 0.007% from matching the cycle high.

[Ovodoff @ovod_off]

@primex_official Would love to see protocol fees discounts model based on staking tiers. More $PMX you have in staking - higher your tier, bigger fee cuts. This way there is additional incentives to stake token if you're trading, not just for small APR.

[Nirav Murthy ⛺ @niravmurthy]

When I say that this industry (Web3) needs more adults, what I really mean is it needs more accountability. Some clear examples of the lack of awareness / acceptable practices in Web3 (rage post incoming):

+ "The Incident" That happened this week - Dismissal should be the bare minimum. Attempted date-rape drugs is a criminal punishment...which demands for jail time? A simple slap on the wrist of a firing for someone who "has made all the money" as he's flexed on twitter is absolutely unbelievable. Study the law? Instead of some BS

+ the amount of jokes about OTC. For those of you who don't know, selling locked tokens is illegal. It's also an absolute tanking for the Company. Employees who sell their locked tokens are 99% of the time (there's a rare 1% case where they get away with it) fired when this happens in Web2. In web3, this almost feels like the norm...How the fuck is this possible?

+ Secondary Sales - related to the first, crypto founders love to sell secondary. When this happens in Web2, it's usually because the founders have been working on this for 3+ years and are expecting a 7-12 year timeline to exit. They quite literally need liquidity after bootstrapping their entire business and making sub-100k a year and living in SF / NYC . Difference is in crypto, people secondary during the Series A, and then double dip on the OTC which is usually 3-6 months after the OTC. How do you expect the team to be incentivized when founders have already sold their bags? Why would employees even agree to build there?

+ Board of Directors - There's a reason why they're pretty common in Web2. Over the lifecycle of a Company, there's many disputes that usually require an "independent" mediator, which is quite literally the only job description of a board director...In Crypto, none of that ever happens. It's why you see so many businesses fall apart - lack of conflict resolution, ability to deal with internal turmoil, governance (ironic i know), and just general oversight.

+ VCs - Man....Crypto VCs are wild. The amount of times "tier1 / tier2" VCs in Crypto have funded "questionably dubious" characters ("grifters", people who have been to jails, men with questionable reputations) is fucking absurd. So much of Web2 VC revolves around diligencing the founders and ensuring that they are not likely to face criminal punishment. In my tradfi days, we absolutely loved a deal - the space, the partners, the cash flow profile, and the story that the business told. But after extensive legal diligence, we found out that one of the founders had a "sexual assault allegation" (not convicted at all) and we immediately had to pull out of the deal. A couple years later and the founder was sued, and the business fell apart. It is immoral, impractical, and frankly just shitty diligence to go about backing these bad actors.

As an industry we say "if we want the masses to onboard to web3, we need more apps." Another thought - if we want the masses to onboard, maybe we grow up a little, have some more accountability, and disspell the notion of crooks, criminals and creeps.

[Elon Musk @elonmusk]

😂

[Rothmus 🏴 @Rothmus]

🤣🤣

[The Instigator @Am_Blujay]

This shit funny as hell 😂😂

[Ovodoff @ovod_off]

Great thread

[Parker Ross @Econ_Parker]

I've heard many point to the near record high prime-age (i.e., 25-54-year-old) employment-population ratio as an indication that the labor market is still healthy.

However, this isn't new information, as the ratio has been hovering around unchanged year-over-year since early 2024. Maybe it's possible we hit maximum employment?

Well, looking under the hood into the CPS microdata, that certainly doesn't appear to be the case: full-time native-born employment has been declining sharply since early 2023.

Meanwhile, the headline prime-age employment ratio has remained "near a record high" because of a surge in native-born Americans working part-time alongside an increase in immigrant employment rates.

Some more breakdowns in the 🧵

[Alex Krüger @krugermacro]

Harris' plan to make things better is to offer subsidies to some groups. Trump's plan to make things better is to cut taxes, increase tariffs and stop illegal immigration.

That's how the debate opened.

... Harris is doing slightly better than Trump.

It is short term noise though. Almost nobody is changing their vote on this debate if it continues like this.

[naiive @naiivememe]

Me double checking my crypto address before making a transaction

[Ovodoff @ovod_off]

@TheBTCTherapist And I will be able to fly

[Baba @Inc051]

I need every man to try this with their partners 😂🤣

[The Kobeissi Letter @KobeissiLetter]

For anyone not keeping track:

There have only been 6 upward jobs revisions since January 2023.

Meanwhile, there have been 13 downward revision with many of these reports being revised down TWICE.

Market confidence in labor market data is deteriorating.

Something is wrong.

[Wasteland Capital @ecommerceshares]

OnlyFans generated $6.6bn in payments (+$1bn on ‘22), $1.3bn in revenue & $658m in profit before tax in 2023.

The number of hoes (“Creators”) rose +29% to 4.1m, and “Fans” +28% to 305m.

The owner paid himself a $472m dividend (up from $338m). The biggest PIMP of all time. 🥹

[Ovodoff @ovod_off]

@mithcoons this is just embarrassing 🤦‍♂️

[Ovodoff @ovod_off]

@TheBTCTherapist and back to McDonald's 🤣

[Ovodoff @ovod_off]

@TheBTCTherapist 48K?

[Ovodoff @ovod_off]

Great chart 🤓

[Patrick Saner @patrick_saner]

Payrolls context in a chart

[zerohedge @zerohedge]

Holy shit:
Foreign-born workers: +635K in August
Native-born workers: -1.325 MILLION in August

Yes, 1.3 million NATIVE-BORN Americans lost a job in August