FTX claims closing in on 60c now.
I hope people following the account listened to me and didn't sell.
Very likely FTX creditors are made whole - and buyers know this.
HODL strong guys and gals. FTX 2.0 incoming!
Lots of folks sending me pitch decks after a recent posts, here are some suggestions after seeing a bunch of outreach:
-Don't ask me if you can send; just send. I literally want to see your deck.
-Send a DocSend for faster response. PDFs are sketchy and got to wait to a secure computer to open them - makes it easy to get forgotten.
-Give me a two sentence pitch on what you are. I got like a dozen pitches telling me about funding but not what you do.
-Give a bullet point with funding details. No numbers means I can't eval.
-Tell me if you have a lead or not.
-Don't say your valuation is negotiable. Price the round and let the lead negotiate if needed. Leads will expect that and no one else should have input on your pricing.
-You should only be raising funding it unlocks a specific growth need. (I.e. We've identified opportunity X and validated it, but need dollars to capture) tell me what that is.
-I will probably pass on a good idea when I'm not a fit. You don't want VCs that are just dry powder, they should bring insight, connections, experience...something. Let me know how I can help.
Deck should be:
-Here is who we are & the problem we solve.
-Why us, why now.
-TAM & proof of fit (either customer validation, or sales pipeline/success metrics)
-Fundraising ask
-What funding unlocks.
Probably don't care about much else except in some fringe cases around licensing.
VCs and angels get lots of pitches, cut fluff, go for metrics and clear asks.
Your goal is to get to yes/no as quickly as possible - and remember you'll hear "no" 99 times before getting to yes.
Doesn't mean your startup is bad, just that most VCs can only invest in what they know/can add value to.
FTX Kroll Data Leak
Email was sent to only those individuals whose data was leaked
78,459 claimants data was leaked
FTX restricted access to the claims portal for only those individuals
Surely the FTX estate has to sue Kroll for negligence now.
Not doing so will surely demonstrate (further) that this whole bankruptcy is just run by a mafia of professional services firms looting FTX together.
These guys are doing a great job making me somehow miss SBF…
FTX Claims Portal Update
FTX creditors using their 2FA can not log in to the FTX claims portal
Log in access has been restricted due to the Kroll data leak
Vitalik acknowledges that all Ethereum L2s have “backdoors”.
I’ve obviously been saying this for years.
These L2s are run by large corps and they’ll eventually face regulation.
They’ll never be sufficiently decentralized.
It’s big banking 2.0.
In the last week, the liquidators of 3AC have spent millions in legal fees to find out:
(1) Kyle Davies is not a US citizen
(2) 3AC and DeFiance Capital operate out of Singapore
Both nuggets of infomation are available on a document you can purchase for SGD 5.50.
a final point: just because the U.S. banking system was under-hedged for 450 basis point rise in interest rates in 12 months doesn't mean that they SHOULD have been fully hedged. If you constantly buy insurance for a very rare event, you will lose money
(22/22)
I am baffled that we still force people to work in an office, especially for intellectual jobs such as web3, blockchain, etc. Here are some of the pros and cons of office vs remote work. 1/9
The equity markets are ignoring some of the most profound cancer breakthroughs in history, an indictment of the shift to passive and benchmark sensitive investing and what we believe is the most egregious misallocation of capital in history.
Eliminating or reducing tariffs or the gasoline tax will actually increase #inflation in the economy. That's because lower excise taxes will result in increased demand, while larger budget deficits will result in even higher interest rates, or more money printing to finance them.
My first stock story is in my book. 1969: Won R100 from a beauty competition. A stockbroker friend told me to put it into the stock market. Dropped to R10. 1971: So disappointed I put it into Elon’s name. 1989: Found it. It was $2000 and paid for @elonmusk to move to Canada😍
🔥Wallet Accounts on #BitTorrent Speed exceeded 289,000,000!
💻#BitTorrent Speed aims to incentivize more users to seed and share bandwidth with #BTT rewards so as to deliver a superior download experience to users across the world.
📍Source: https://t.co/3d9NHJG0q5
#BTT