The Compound and Friends It’s Crypto Winter Again
Jan 28, 2022
Packy McCormick, author of the popular Substack "Not Boring," shares his insights on the current state of the crypto market, discussing the recent crashes of Bitcoin and Ethereum. He reflects on reaching 100k subscribers, the pressures of audience growth, and the challenges of public perception in finance. The conversation also touches on Robinhood's earnings woes, the potential impact of rising interest rates on investments, and the innovative future of decentralized finance. Plus, a humorous take on personal anecdotes adds a light-hearted touch to the serious financial insights!
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Robinhood Earnings Miss
- Robinhood's Q1 revenue missed estimates, coming in below $340 million vs. $447 million expected.
- Crypto revenue also declined, adding to the company's woes.
Robinhood's Competition
- Robinhood's main competition isn't other brokers, but rather more engaging platforms like FanDuel.
- Its reliance on crypto trading, a shrinking market, is problematic.
Packy's Substack Milestone
- Packy McCormick's Substack, Not Boring, reached 100,000 subscribers.
- He compared this milestone to filling Alabama's football stadium.