Vegas64

It’s scary anytime anyone 78 years old falls down. Hope he’s okay, he seems decently fit. I think he will be fine.

I bought a fridge last weekend and had it delivered next day. The only bummer was it was 33% more expensive than last year or 18 months ago. Dropped like $3700 on what should be a $3k fridge, max. More like $2500.

Brisket, you like Scott Galloway and seem to take your positions from his research and analysis. If you agree with him in this interview I read (excerpt below), what’s the big fuss? Just find a way to short crypto and make a ton of money. I feel like that is what a smart person would do with a real conviction about a position versus caterwauling on the internet. You’ve been a longtime skeptic on crypto, and now we are seeing a real crash. What do you think is going to happen next? What we found is this whole mantra of a trustless economy, we shouldn’t have trusted many of these new actors. Even in ’99, there were a lot of use cases of the internet — you could buy CDs and books on Amazon. You could get real-time news on Yahoo. It’s more difficult to find use cases from the blockchain that impact everyday consumers. I think you’re just seeing a massive unwinding or de-levering of the space — and I think we’re kind of in the midst of a crash that will be likely unprecedented in terms of an asset class. If you look at the bubble — if you compare it to previous bubbles, whether it’s tulips, internet stocks of ’99, housing, Japanese stocks — the run-up here was more extraordinary. The run-up here makes the other ones look sheepish or modest, which means that the crash will be equally or more violent. There’s going to be more lawsuits. There’s going to be more calls for additional regulations. You’re going to see investors say: Where were the regulators? That’s the bad news. The good news is it probably won’t have much of an impact on the real economy. Keep in mind, even if all crypto went to zero right now, that’s still less than half the value of Apple.

What am I missing about being scared the dollar will lose its position? The dollar is strong and the strength of the dollar in Q1 is the only saving grace for a lot of organizations who reported and have global sales and operations.

2003 called and wants their Von Dutch hat and car market back.

This is the problem I have with Biden, personally. He’s doing what the Pubs do and exaggerating or flat out making up correlations for political points. That is also not the problem I have with Biden politically. We’ve gripped he has needed to do this for 2 years nearly and now that he is, it’s working. Needs to keep pushing his finger in on that wound.

I get why he's going and what not and but I don't have to love it. It's not a great look that you'd rather go hat in hand to Mohammad Bone Saw and ask for political favor vis-a-vis help with oil production to help alleviate gas prices at home than take a conciliatory approach to our own domestic O&G companies and asking for some sort of compromise or "Good for America right now" approach and sacrifice. Instead he publicly is vilifying and accusing domestic O&G companies of profiteering and price gouging and what not for political points. Again, I get it and I like it, but don't necessarily love it.

Mmmmm. Show your work.

Onion / Leeks?

This is also true. Every day prices are high Republicans have a boogy man and bad guy to target for replacement. We live in idiot world.

I agree. Nobody was complaining (probably more celebrating) during the time and years when Exxon lost $10’s of billions of dollars, but now that the shoe is on the other foot it’s “greedflation”. And I get why it’s a political angle from Biden and honestly I think it could be more effectively wielded because it’s exactly what the Republicans would do, honest or not. Biden needs to triple down on the narrative but in doing so won’t make friends of those he’s asking help for.

That guy (that jacket) is huge. Like the OP said, $16mm buys you a lot of superficial votes and a lot of Americans are just like "eh, that guy is super fat and this woman is attractive".

I'm a front Left-er

Had a buddy just start and has a nearly $500k OTE after the comp refresh they did to increase pay at most positions a few months ago. I could put up with crappy amazon culture for that, probably.

And rightly so to the bolded. I also agree that BTC is a good value buy at some point, if not exactly now.

But did you hear all about his mom and dad being swingers and cheating on the cuckold and how it is effecting his 3 point shot ::eyerolls::

That food looks awesome. What's the problem?

I think the CEO was fairly transparent in his note (have you read it? I'll link it here from the blog: https://blog.coinbase.com/a-message-from-coinbase-ceo-and-cofounder-brian-armstrong-578d76eedb12). They are cutting staff because their major source of revenue is trading revenue and the crypto winter tanks volume and velocity to where their revenue is greatly diminished. We appear to be entering a recession after a 10+ year economic boom. A recession could lead to another crypto winter, and could last for an extended period. In past crypto winters, trading revenue (our largest revenue source) has declined significantly.

They 4x'd their team in 18 months and to get the talent in an historically tight labor market, they did it by paying anywhere from $200 upwards to $700k. The average Coinbase employee makes roughly $240k. There is fat to be cut as we enter a crypto winter or recession or extended bear market or whatever we are calling this.

I was reading the drama around the Thoma Bravo<> Anaplan deal and how that PE got Anaplan to accept a lower offer, post-M&A deal, due to the loss in market value the past few weeks/months through reasons couched in legalese and contract reasons. I think Musk is trying to do the same, and to be fair, it's smart business.

More like all the big techs with the exception of Microsoft (all) and maybe Amazon (in some areas).

But it's not his fault. He can't control it. We've said this over and over until blue in the face. This is why economists are looking at inflationary numbers and CPI data and removing gasoline and food costs as those are largely out of the scope of executive political influence.

As God as my witness he's broken in half!

The Atlantic also nailed it here regarding the recall and the feeling of political failure from longtime SF residents: https://www.theatlantic.com/ideas/archive/2022/06/how-san-francisco-became-failed-city/661199/