Personal Finance
Yesterday
1216
IRS Warns Thousands of Taxpayers They Could Face Jail Time
Tech Industry
1h
216
Nooglers should be ashamed. Google value will reduce in arranged marriage market unless Sundar does a miracle
Tech Industry
2d
4734
Job market is brutal for SWEs 🥲
India
4h
402
Why Worshipping Lord Ram Important in Hinduism?
I am finding it difficult to imagine why someone all the way back in 2012 (1 BTC = $6) would start a company that 100% lives and dies by whatever uncontrollable thing happens to the unpredictable crypto scene. And then coinbase still continued after the insane drop that followed the meteoric rise of bitcoin in 2017?! If it was me, I would have lost hope a long long time ago. Heck I wouldn't even interview at coinbase over fears of another crash affecting the company's future. I guess that's why I am neither a CEO nor have $6.5B. Kudos to coinbase and all other companies that cannot exist without such strong conviction from leadership into unconventional ventures.
Wall Street needs to divert attention away from traditional inflation hedges with intrinsic value like Gold and silver (and shield from their toxic derivatives that could explode.) Hence why crypto found mainstream attention from the Fed, Treasury, the government and the investors. It was also to pave the way for CBDCs
What is their alternative?
The people who start successful companies have to have an almost irrationally optimistic view of the long term outcome of their business. Yes they have to be smart, hire well, and execute, but that's not sufficient, considering there will be points where the market is against them. There's also the luck and timing factor. Most people on blind are super rational, and unwilling to take irrational risk so they're just not in that demographic. Bill Gates, Jeff Bezos, aren't people who would slog for some bump in TC.
This x100. If startup founders were rational and risk averse they would not be startup founders in the first place. You need to have an irrational view on your success. Fully agree with most folks on blind being risk averse.
U think too highly of them actually. Once you started on this path, you have to brainwash yourself thinking that this is the way to go. In many other alternate universes, these people would have failed and you would have thought of them as people with bad ideas and have no foresight to stop their businesses while they can.
You believe in alternate universes huh, interesting.
Yes you need to be crazy optimistic and irrational
There are 1000 other startup founders with the same conviction right now, but they will fail.
Survivorship bias
They know something you and I don’t.