Jerome Powell Let me start with Powell, head of the Fed, and my mental model of him. Based on his
Continue readingMonth: May 2022
Business: Elon Musk trolling Twitter
Elon Musk did something “funny” today, None of this makes sense! Because “Temporarily on hold” is not a thing. Elon
Continue readingInvest: Terra Luna and death spiral
We talked yesterday about the ongoing collapse of TerraUSD, or UST, the $18 billion algorithmic stablecoin from Terraform Labs. The basic idea
Continue readingInvest: How Terra and Luna (are supposed to) work
An “algorithmic stablecoin” sounds complicated, and there are a lot of people with incentives to pretend that it is complicated,
Continue readingInvest: When happens when stablecoin is not stable?
I guess it is time to talk about algorithmic stablecoins again. Terra, or UST, is an algorithmic stablecoin whose price
Continue readingInvest: Strip club embraces meme finance
The main corporate finance advice for much of 2021 was, like, “be a meme stock.” There were a lot of retail investors on
Continue readingInvest: Subtle things caused by the interest hike
Yesterday the chief executive officer of Uber Technologies Inc., Dara Khosrowshahi, sent out an email to employees telling them that Uber is going
Continue readingInvest: Is the bear market over? Morgan Stanley says NO
Here is a fun fact: Stocks are off to a rough start in 2022, with S&P500 currently down more than
Continue readingInvest: Well, here are some NFT failures
You’re not going to get financial markets quotes that are much better than this: An NFT of the first tweet from
Continue readingInvest: SEC, Crypto and Cyber
My basic view of U.S. Securities and Exchange Commission regulation of crypto projects is that we are in a somewhat eerie
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