a big part of the right wing turn in silicon valley from 2022 to 2024 is that all of the big money guys' crypto ICOs left them with unbalanced portfolios, huge loan liability, and huge potential tax liability if they got out of the crypto market entirely. locked into a bubble and dead if it bursts. - ThreadSky

theophite.bsky.social • 3 days ago

a big part of the right wing turn in silicon valley from 2022 to 2024 is that all of the big money guys' crypto ICOs left them with unbalanced portfolios, huge loan liability, and huge potential tax liability if they got out of the crypto market entirely. locked into a bubble and dead if it bursts.

Reposted from ryan cooper

TIL that Tesla insiders (executives, board members, etc) have sold *1.46 million* Tesla shares over the past 12 months, and bought precisely *zero*

www.nasdaq.com/market-activ...

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digitalramble.bsky.social•3 days ago

i don’t disagree but the big tech industries have a long history behind going for a massive tech-oriented hold over all. the crypto schemes just accelerated it. i hope it pops and leaves them all penniless

dmnd.me•3 days ago

If the crypto market ever seriously dumps, I suspect we will never find Justin Sun’s body

0kultra.bsky.social•3 days ago

I mean, crypto is correlated to IS econ so given Trump's econ policies this will happen

theradiostar.bsky.social•2 days ago

also crypto is just transparently dogshit and normies ain't interested anymore. billionaire bagholders can certainly use the US Treasury as exit liquidity (and they will try!) but the entire sector is moribund regardless

missingthejim.bsky.social•2 days ago

The question is, how do we make it burst?

bethmorgan.bsky.social•3 days ago

Totally. We’re selling people to El Salvadoran prison camps bc Marc Andreessen didn’t want to get underwater on his crypto investments.

monarchdiaries.bsky.social•2 days ago

This exactly, but we're paying the camps not selling.

bethmorgan.bsky.social•2 days ago

Eh, trafficking is trafficking, I don’t care who’s the pimp and who’s the john

emrosedeleon.bsky.social•3 days ago

Oh wow huh, they took over the world with an economic suicide vest.

holgate.permanent.red•3 days ago

Egg’s “Time To Build” is the most hypocritical manifesto in modern history because Sand Hill Road promised exits that IPOs and acquisitions could no longer deliver, precisely because of the IPOs and acquisitions it had previously delivered.

dmnd.me•3 days ago

The man had no idea what to build but put that out anyway. The honest title was “IT’S TIME TO PRODUCE (capital gains for me)”

holgate.permanent.red•3 days ago

He will never do anything bigger than yolo-ing the IMG tag into Mosaic — an incredible transformative and unlucrative thing — and his tragic arc is that he will destroy the world before he realizes it.

holgate.permanent.red•3 days ago

Sand Hill Road had fuck-all interest in using ZIRP for long-term capital investments.

clairington.bsky.social•2 days ago

Am honestly furious that this is happening again in my lifetime

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