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85: FTX Collapse, SBF vs. CZ & revisiting our crypto predictions
Not Investment Advice
How Different Is This From a Bullshit Market?
How different is this to any other market collapsing? We just showed a graph of 91% down all these tech stocks, right? Now those tech stocks are real companies with real customers and products. They're not like worth zero in terms of creating value. But that one was VC back companies. And it was about getting a seed round in series A series being each round. If you're the lead investor, you got to be in there to signal to the market. And then you just want to keep growing. You could make an argument that even though they're real assets and real companies, they were just playing a different game of a bullshit essentially pyramid scheme.
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