431–440 of 883 posts
It's a tiny bit pedantic, but the Coinbase offering today was not actually an IPO, I learned, but a DPO (Direct Public Offering). It was not a fundraising event for Coinbase, only a liquidity event for shareholders, and unlike an IPO no explicit valuation process occurred to select an offering price.
Its not pedantic at all, it's the most interesting part of this IPO, because this is a new way to do IPOs.
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I'm new to this. Is the collateral locked into the contract and unspendable until the contract is closed? It's also kind of unclear what the interest is from that page. edit: apparently it's 8.5% https://mkr.tools/governance/stabilityfee
It's just a smart contact vault, you can put collateral, take it out whenever you want, you just need to make sure that at any given point in time you have at least 150% of your debts value in collateral in the vault. This person is at over 400%, so very conservative borrowing, can withdraw some collateral. There are also centralized versions with blockfi if you prefer traditional loans.
Markets are efficient.
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Wow. Assuming he put in just $10,000 (and I imagine it was probably more than that), 6000x return would be 60 million dollars. Any early companies out there right now seem like it could potentially offer even a 10th of that in ~5-10 years?
i dunno how people say VCs have a return of only 9% year when Ycombinator is absolutely crushing that even with a high failure rate. AirBNB, box, dropbox, coinbase, etc. Paul stumbled on an absolute goldmine by just giving a bunch of promising companies with good founders 10k in exchange for a decent portion of equity and then some of these companies being worth billions. NOw you know what those homes and are so expe…
YC is a massive outlier and they have insanely good deal flow because of their brand.
I still don’t see what the upside is to their valuation? It’s all baked in AFAICT.
Very little. This is a result of the private equity market growing so large that companies can put off going public for very long (Coinbase raised $800 million and the last round was "Series E"). 10-15 years ago, it was much more difficult for companies to raise this much before going public, which forced companies to go public much earlier, before all upside was realized by private investors. The result is private e…
Exit valuation of uber was 82.4$Billion, which we considered as insanely high then. Now it sits at 100.2 Market cap.
I have been aggregating some of them in my google sheet. Its very peculiar https://docs.google.com/spreadsheets/d/1IPIyrn-36GpepXXkfoLF...
For reference, BP the number five global oil behemoth with 200B in revenues in 2020, has a market cap of 85B. Coinbase that sells pumped speculation for a fee has a market cap of 100B. Markets are efficient.
sells pumped speculation
For reference, BP the number five global oil behemoth with 200B in revenues in 2020, has a market cap of 85B. Coinbase that sells pumped speculation for a fee has a market cap of 100B. Markets are efficient.
sells pumped speculation Probably the same type of person to criticize biased journalism.
For reference, BP the number five global oil behemoth with 200B in revenues in 2020, has a market cap of 85B. Coinbase that sells pumped speculation for a fee has a market cap of 100B. Markets are efficient.
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I can live in a house. I can't live in a Bitcoin.
Yes, but you also can't take your house with you stored in your brain if you have to flee the country. Bitcoin as chaos insurance (or schmuck insurance as Chamath calls it) is the use case that makes the most sense to me.
For reference, BP the number five global oil behemoth with 200B in revenues in 2020, has a market cap of 85B. Coinbase that sells pumped speculation for a fee has a market cap of 100B. Markets are efficient.