Look guys, it's actually really straightforward, a bunch of people staked their ETH on the Ethereum blockchain to earn yield, except they didn't want their capital to be locked up, so they actually staked with a liquid staking protocol called Lido who provided them a liquid staking receipt token called stETH, except they decided to juice their yield further by depositing their stETH receipt tokens into a restaking protocol called Eigenlayer, except they didn't want to lock up their capital, so they actually restaked with a liquid restaking protocol called KelpDAO who provided them with a liquid restaking receipt token called rsETH, except they decided to juice their yield further by depositing their rsETH tokens into a lending protocol called Aave so that they could open a leveraged looping position that borrows ETH against the rsETH collateral and restakes the ETH into rsETH which is then deposited as collateral, except it turns out rsETH used a cross-chain bridge called LayerZero that was hacked by north koreans causing rsETH to become undercollateralized and now these looping positions are stuck and unprofitable, and everyone is pointing fingers at each other, and also DeFi is a very serious industry
Luckily since the Louvre made NFTs of their jewelry, even though the crowns physically were stolen, they still own the same assets. Because the tokens still exist and are in limited supply just as before. Nothing has changed. few understand blockchain technology.
I genuinely believe in 10 years people are going to look back on most of crypto and be mindfucked that we built these insane cults around a bunch of back office software
In a world where technology flattens intelligence, the only thing that matters is your philosophy of life
If you don’t have one, one will be implanted in you free of cost
The best CEO advice I received in my career:
• customer service is not a department
• sales is the hardest job in any company
• customer focus > competitor focus
• always try to add value and be helpful
• own it and never point fingers
• learn and use people’s names
• show up when it matters most to your customers
• adopt a beginner’s mindset
• tactics drive strategy - adapt faster
• earn a seat next to your customer, not across from her
• our job is to educate and inspire
• we are all in sales
• stay accessible, curious and humble
• people do business with people they trust, respect and like
• if you are waiting for a title to lead, you are not ready to lead
• the language of business is finance
• there are no IT projects, only business projects
• pay your best people the very best you can
• hire people based on their good judgment and high rate of learning
• in a celebration lead from the back, in a crisis lead from the front
• you are not a team because you work together - you are a team because you trust, respect and care for each other
• to improve the customer experience, start with the employee experience
• you are not taller by making others look smaller
• revenue growth ahead of expenses
• remove bad apples quickly
• leave your desk and spend time with customers
• culture is what happens when the managers leave the room
• tactics drive strategy
• there is nothing more important than our customers
• if you are waiting for a better title to lead, you are not ready to lead
• business is personal - you can be decisive and also be kind, graceful and empathetic
• recognize effort but reward outcomes
• your company is only as good as the company you keep
• your brand is what people say about you when you’re not in the room
How to become above average in 2025
· Meditate
· Lift weights
· Fix your sleep
· Get 10k steps a day
· Stop drinking alcohol
· Don't be easily offended
· Learn how to deal with emotions
· Work on a goal worthy of your attention
· Spend more time in nature without a phone
Most can’t stand it when their close peers appear to be making more money than them. This will be the reason you lose focus and your edge, you chase trends, take on more risks, and eventually end up losing money.
Envy is one of the most destructive forces. Celebrate the success of others, learn from it. Shift from PvP to PvE and you’ll win more
Many people arguing about blobs, but so far no one has simulated how they respond to demand... until now. TL;DR: Blobs are insanely bullish for ETH long term
they have played us for absolute fools
L2s are a deep state psyop propagated by Big Etherscan to sell you more block explorers
the reason Solana does not have L2s is because no one can make block explorers