So I'm a crypto non-believer. I see it as the ultimate solution looking for a problem. But that doesn't apply to Coinbase because, at its core, Coinbase should be a transactional business that is a proxy for the size of the crypto market (or, more specifically, the crypto trading volume). I don't know enough about the financials of Coinbase however. It could be they have risks unrelated to their transaction business.…
Huh. I see crypto as a problem looking for worse problems...and not really finding any.
Worth recalling there are >5 rate hikes priced in for the remainder of the year, and that the problem with CloudFlare isn't just the speculation, but for their legitimate business, the credit fuelling many of their customers, which are significantly concentrated in the tech sector. The coming tightening of hiring will also inevitably mean the tightening of infrastructure budgets. What built CloudFlare's excellent sal…
> The coming tightening of hiring will also inevitably mean the tightening of infrastructure budgets. What indicates a coming tightening of hiring soon?
The purpose of interest rate hikes is to dampen demand. The less demand there is for goods and services, the less need there is for workers to provide them.
Worth recalling there are >5 rate hikes priced in for the remainder of the year, and that the problem with CloudFlare isn't just the speculation, but for their legitimate business, the credit fuelling many of their customers, which are significantly concentrated in the tech sector. The coming tightening of hiring will also inevitably mean the tightening of infrastructure budgets. What built CloudFlare's excellent sal…
> The coming tightening of hiring will also inevitably mean the tightening of infrastructure budgets. What indicates a coming tightening of hiring soon?
Stock doing poorly -> public company CEOs want to please wall street by showing greater revenue -> layoff (employees are largest cost center for tech companies)
yeap... it's great when the thing you bought loses 43% Also not smart when you use credit to buy ahh good times
That blows my mind.
Yeah don't want to say "addiction" like "buy the dip" (as it continually went down)
I thought I was smart turning credit into cash but I also was losing money through fees.
Anyway after messing around with my own trading bots (at loss not using smart algos or anything) I'm not sure if it was worth it... fun project I guess/code practice. At least for that I was just messing around with small amounts eg. oh yeah I'm currently poor so I'm definitely no financial genius
People weren't saying the "Internet is a fad" back then. They/we were saying that many of the businesses that were being heavily invested in were unsound because they lacked a real plan towards profitability. Many businesses had no chance of turning profit, but were VC funded like crazy. I worked at a company that was doing "group buy" purchases and the product themselves weren't really getting real group discounts,…
“The growth of the Internet will slow drastically, as the flaw in ‘Metcalfe’s law' becomes apparent: most people have nothing to say to each other! By 2005, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s” -Some dude who writes for The New York Times...
I wonder when "2005" for crypto will be. Like if we compare them by metrics like maturity of technology, developer attention, VC money, etc, how do "web2" and "web3" compare?
I remember the "dotcom crash" of 2000, after which all of the scuttlebutt was about how the internet was a fad and all the related investments were just a giant bubble. The rhetoric I'm hearing today about crypto is strangely reminiscent. How it will turn out, nobody knows, but humility is warranted if history is any guide.
This is ripe for survivors bias. Nobody remembers the time people said “X is just a fad”… and it was
Everyone remembers every time people said "X is just a fad" after that "fad" caused a stock market collapse.
> I think we'll discover before the end of this year just how many of the tech darlings were largely side effects of the poisonous sandbox constructed by the US fed ?? Poisonous sandbox? Is this an awkward way of referring to money printing? Or the low interest rate environment?
It warms my heart to think I could still be graded on language use so late in life. How would you describe it?