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Chamath Palihapitiya on Wallstreetbets [audio]

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Re: Chamath Palihapitiya on Wallstreetbets [audio]

#171

Post by chrledntsurf »

m8s wrote: post #26
in3d wrote: post #16

He didn’t have any answer as to the fate of new bag holders he created with his tweet. That was irresponsible. His plan to make hedge funds disclose their positions daily as some kind of a solution to overleverage makes no sense whatsoever. And he’s delusional about research skills of WSB posters as compared to Wall Street analysts.

I agree that he ignored a few important questions. There is the very real possibility (and it's more like a certainty) that regular people will join the bandwagon too late and get hurt. When hedge funds get hurt, they still have plenty of money to survive. When I see posts (although who knows if they are real) about putting your life savings on something like this, losing that money has very serious real-world implic…

Who cares. It's the stock market. You aren't guaranteed a profit. It doesn't give a shit about protecting you. People have been making stupid financial decisions for decades...some people are going to make a lot of money and others will lose their shirts. Same with the bitcoin people, the tesla people, etc etc.

This isn't new...there are gamestops every couple of years. This is just an extreme version in a year when everyone is online 24/7.

Re: Chamath Palihapitiya on Wallstreetbets [audio]

#172

Post by sizt »

dang wrote: post #44
xadhominemx wrote: post #19

Earlier quoted context omitted.

Nonsense

Please don't post like this—it's against the site guidelines: https://news.ycombinator.com/newsguidelines.html If you feel that another comment is wrong, the way to respond is to show how it's wrong, include additional relevant information, and avoid name-calling. Then we can all keep learning (and also kick the can down the road a bit regarding the part where we degenerate into flaming spears and tribal warfare). I…

These comments are groundless libel. Why your rules would protect them is beyond any explanation. I have never once been the person shoveling BS on this forum. But you treat your posters like a bunch of thin-skinned babies. Some deep self-reflection would do these passive-aggressive egomanics some good. I've been around the engineering community long enough to know how these self-important trolls work. You should know it by now as well Dang. I frankly don't know what you are trying to save them from except maybe you pity them.

Re: Chamath Palihapitiya on Wallstreetbets [audio]

#173

Post by _kyran »

numair wrote: post #151
mysore wrote: post #147

Earlier quoted context omitted.

man you dont know this guy or his life story. people say all kinds of stuff in books. who cares about his dating/marriage life? That is really low to bring that kind of stuff up in this context. the fact that this is the highest comment speaks to how toxic this community has become. His "VC" fund is a social good company that prioritizes people's wellfare over profits. and who cares if its a success or failure, VC is…

Okay, I’ll take the bait. As someone with direct experience with the topic at hand, who has worked with / remains friends with people with direct experience regarding the subject of this conversation, I can say that many of the assertions of the parent ring true to me. And, in fact, the stuff you don’t know is even worse .

I'll bite, what happened?

Something seems a little off lately with the sudden uptick in PR/guest interviewing/attention seeking behaviour as of late.

Re: Chamath Palihapitiya on Wallstreetbets [audio]

#174

Post by pashamur »

f430 wrote: post #13

Here's my comment I wrote earlier in my submission that was removed because it was a "dupe" (and I seem to have been throttled as a result of this transgression): I'm a bit of a centrist leaning to WSB: - I will agree the fundamentals are off. AMC, BB, GS compared to its industry competitors market cap and valuation doesn't make sense. - Counter to the above argument, it shows the cracks in the system: Many stocks ar…

This is just the latest version - there was the crypto bubble in 2017, then the MJ bubble in 2018 (and XIV volatility collapse), now this.

I think crypto proved to us that you don't need any sort of fundamentals - price action beats all (and defines the narrative) in the short term. We've also become a meme-based and tweet-based economy (and Donald Trump / the pandemic surely help speed that along)

Re: Chamath Palihapitiya on Wallstreetbets [audio]

#175

Post by vlovich123 »

nceqs3 wrote: post #164
loceng wrote: post #135

Earlier quoted context omitted.

How due to COVID?

Retail buying frenzy. PLTR has become a meme stock.

Even before COVID he would have been an early investor. That means he invested in what IPO’ed as a 5 billion dollar company at basically the ground floor (the company is now 60 billion).

Yammer was bought by MSFT for more than it was worth (and likely more than it was valued at when he invested).

Re: Chamath Palihapitiya on Wallstreetbets [audio]

#176

Post by anonymous_i »

mysore wrote: post #147
nceqs3 wrote: post #67

The Chamath Craze is ridiculous. The guy is a stock promoter through and through. It's really sad to see people fall into this guys trap. He has an incredibly story (coming from nothing) but lets look at his career: He "leaves" (aka fired) Facebook for being a D*ck head. Nobody is willing to work with him because he is rude and a jerk. His direct reports would cry regularly. Steven Levy talked about this in his book…

man you dont know this guy or his life story. people say all kinds of stuff in books. who cares about his dating/marriage life? That is really low to bring that kind of stuff up in this context. the fact that this is the highest comment speaks to how toxic this community has become. His "VC" fund is a social good company that prioritizes people's wellfare over profits. and who cares if its a success or failure, VC is…

suddenly patriotic

Re: Chamath Palihapitiya on Wallstreetbets [audio]

#177

Post by kylebenzle »

mysore wrote: post #147
nceqs3 wrote: post #67

The Chamath Craze is ridiculous. The guy is a stock promoter through and through. It's really sad to see people fall into this guys trap. He has an incredibly story (coming from nothing) but lets look at his career: He "leaves" (aka fired) Facebook for being a D*ck head. Nobody is willing to work with him because he is rude and a jerk. His direct reports would cry regularly. Steven Levy talked about this in his book…

man you dont know this guy or his life story. people say all kinds of stuff in books. who cares about his dating/marriage life? That is really low to bring that kind of stuff up in this context. the fact that this is the highest comment speaks to how toxic this community has become. His "VC" fund is a social good company that prioritizes people's wellfare over profits. and who cares if its a success or failure, VC is…

Just wait till you see how the treat Bitcoin here.

Re: Chamath Palihapitiya on Wallstreetbets [audio]

#178

Post by jariel »

nceqs3 wrote: post #67

The Chamath Craze is ridiculous. The guy is a stock promoter through and through. It's really sad to see people fall into this guys trap. He has an incredibly story (coming from nothing) but lets look at his career: He "leaves" (aka fired) Facebook for being a D*ck head. Nobody is willing to work with him because he is rude and a jerk. His direct reports would cry regularly. Steven Levy talked about this in his book…

It's hard to know who is good, and in the banking business apparently being famous matters.

The guy from Shark Tank, Kevin O'Leary can raise a fund just by virtue of that, being a known brand.

He seems like a person with good intentions, but just kind of a hustler, not a bad one, I don't think he's starting pyramid schemes - but I also don't think he has anything to contribute.

We're in a new era of Twitter/Youtube experts with a ton of populism via RobinHood and ETrade Retirees so we're going to have to live with the talking heads.

Re: Chamath Palihapitiya on Wallstreetbets [audio]

#179

Post by jariel »

curiousgal wrote: post #15

I think the funniest part of this entire phenomenon is that Robinhood is now taking money from the rich and distributing it to the masses in a more literal sense. At least for now. On a more serious note, I don't get how a stock can be 140% shorted. Does that mean once you return a portion of the shares you borrowed you have to rebuy part of it and return it again? Also when would these short sellers get margin calle…

No, in the end, it will be the mob who will lose money, and it will invariably go into the pockets of more institutional vested interests who end up picking up the pieces cheap. Really Roobinhood is feeding fish to whales, over time.

Re: Chamath Palihapitiya on Wallstreetbets [audio]

#180

Post by biql »

ericmay wrote: post #145
Ataraxy wrote: post #100

Earlier quoted context omitted.

They realistically are. It's pure media fiction (and scapegoating) that a bunch of regular people are somehow moving markets. In practice they're just the smoke screen for the actual wealth making plays against their peers that screwed up in this scenario.

This, 100%. Even if WSB users and other retail holders held like, 30%, Burry holders 3%, and Cohen holds 10%, there is still more than 50% out there which may be bought by others. There aren’t enough interested Americans to buy the rest of the company. Other hedge funds and big investors are in on the action. These shorts got caught in a bad spot and now they are paying for it. Once all the retail traders get screwed…

Not sure how reliable it is but according to SA, 78% is owned by institutions https://seekingalpha.com/symbol/GME, the part owned by retail should be truly small. How this narrative of retail being in control is being pushed by the media is indeed very strange.
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