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pronghorn

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Posts posted by pronghorn

  1. 15 hours ago, WhatTheBuck said:

    Quite possible? Kind of create? Damn, those are strong words. 

    Uncle Joe told Nancy that it would be a disaster and shows that he was right. She let her ego drive her decision and why the Dem leadership sucks so much. Instead of focusing on results, they play dumb games and lose.

    Need more Uncle Joe and less Obama and Nancy

  2. what an epic fuck up by Peolsi

    https://finance.yahoo.com/news/xi-jinping-taiwan-pelosi-visit-third-term-ccp-biden-midterms-presidential-election-military-peoples-liberation-army-183346244.html

    Quote

    Tensions in the Taiwan Strait are escalating following Speaker Pelosi’s visit to Taiwan last week. China’s military conducted a series of military drills over the weekend – 66 planes and 14 warships were spotted around the island on Sunday, according to Taiwan’s defense ministry.

    Susan Shirk, UC San Diego Researcher Professor and 21st Century China Center Chair, described the political and social implications of Speaker Pelosi’s visit.

    “It’s quite possible that Xi Jinping has taken advantage of the Pelosi visit to mobilize support for himself and to kind of create a new normal in which Chinese military planes and ships and other gray zones, even Coast Guard vessels, will be pressing Taiwan,” Shirk told Yahoo Finance Live.

     

    • Fuck You 6
  3. Food has been outstanding. It is hard to not to eat out three times a day given how cheap and amazing every meal has been.

    Dog parks also have been amazing.

    I am now threatening to move here and looked at houses as a joke this weekend. One of the houses had a longhorn flag.

    • Hook 'Em 1
  4. Quote

    So crypto has created an entire shadow in my mind, [an] illegal stack, that is skirting securities regulations. I believe the overwhelming majority of tokens are securities, but they're being dumped onto retail investors. And this is being done explicitly by venture firms. I won't mention any names who are buying into companies early, getting into tokens, and then those tokens are being listed on exchanges and the public can buy into them. The public is buying into them, a common enterprise, in order to get a financial gain. They have no interest in using those tokens for any utility. These are not Chuck E. Cheese tokens, right? They're not United miles.

    We all know what's going on here. And to then liquidate your position in the second or third year of the crypto company — and I'm not going to mention any specific companies here or firms, but you don't need to be a genius to just look at the activity out there. This is going to blow up in the faces of the venture community. Regulators are very permissive in our country. Our country, generally our legal system is you're innocent until proven guilty. But I think there's a lot of guilty parties that, you know, flipped securities and called them tokens. And I think the SEC, Justice Department is in the first inning of taking action against these companies. And sure it would be better if they had given us clear guidelines, but having been in the room for these discussions over the past five years, people suspended disbelief. They shopped for attorneys who told them what they wanted to believe about tokens and the, what is it, the Howie Test, you know, listen, I'm no lawyer. Don't take advice from me. I'm just a kid from Brooklyn.

    https://www.bloomberg.com/news/articles/2022-07-21/transcript-jason-calacanis-on-the-expensive-lesson-coming-to-silicon-valley?srnd=premium

    Quote

    Yeah. So people knew, Tracy, that what they were doing was fugazi. They knew that this was a grift. I have no sympathy on anybody who gets their wrist slapped or gets a speeding ticket or worse because I would like to see accreditation laws be changed so that people can take a test just like a driver's test, or in the few states that have gun owner tests, gun permit tests. We could just educate people, maybe take a three hour course, you take a 50-question test. It doesn't have to be a Series 7, but ‘hey, this is diversification. Hey, these are risky assets. These are non-liquid assets. This is preferred shares. These are common shares. You know, here's how governance works. Here's how boards work.’ Just so you know, a normal person who's not in the top 6% of the country who are accredited investors could participate in this.

    That's what the SEC needs to do. That's what our government needs to do. Have a path for people to be educated, to participate in these things. What the country doesn't need is for sophisticated investors to then create a path for people to circumvent the securities law and then flip tokens. I have spent the last five years being criticized because I've said all along, you know, if you can't use the product, if you can't talk to the customers, you know, calling back to your asking me about that tweet I did and my experience as a journalist, if you can't talk to the customers, you can't use the product, then it's probably either a fraud where it's a pre-launched company. And I think the majority of these tokens that are being sold are either pre-launch companies, which would value them at $3 to $10 million or they’re frauds, or they're run by incompetents or they’re frauds run by incompetents. It's some combination of those three buckets. And I invest in the first bucket — pre-launch companies or you know, about to launch MPPs all the time in my accelerator, but I don't take the shares of those companies and put them on a listing and tell people ‘have fun staying poor if you don't buy these tokens and you don't get it. Okay. Boomer,’ and all this other bullsh*t that these very sophisticated investors did to the public. So I don't have strong feelings on it, Joe, but it's a complete, utter grift.

    Joe: (20:57)
    Do you think there's going to be a criminal response in some cases?

    Jason: (21:00)
    Certainly.

    Jason: (21:08)
    I mean, these ‘it's just a little NFT I was flipping and grifting.’ You know, Department of Justine and the Southern District of New York and Florida's, you know, district attorneys — there's a large group of district attorneys who would like nothing more than to get the pelt of a crypto grifter and put it on their wall for when they run for mayor or governor.

    Joe: (21:30)
    And now people have lost a lot of money. So there's a lot of people, like a year ago, there wouldn't start wouldn't have been a political appetite for prosecutions because people like when the line goes up, but when the line goes down, I assume people want to see someone pay?

    Jason: (21:45)
    Well also, you know, that's when somebody who's in your local jurisdiction says, ‘Hey, my aunt took a second mortgage on her home and bought this cryptocurrency and they lost all their money. And three of her friends also did it.’ And so now there's an actual victim as you're pointing out Joe, because the tide's gone out. And those people essentially got a free option because — you know, [this is] the cynical view, but they got to buy the cryptocurrency. If it went up, they could sell it, like these retail investors. And now that it's gone down, since it was illegal, all of them can now go after these companies. And so that's just starting and we're like two pitches into the first inning. We are not even close to the second inning of this ... If what I learned from the dotcom era is any guide, it's going to be years of litigation and pain and suffering. Now do people go to jail? We just had somebody on the FBI's most wanted list who was the Bitcoin [Crypto] Queen. I don't remember a fotcom person being on the FBI's most wanted list. So that might be the canary in the coal mine, when the FBI's most wanted list winds up being three or four crypto people, I think you've got peak grift.

    Tracy: (23:00)
    Just on this topic you were invested in Robinhood and Robinhood is pretty highly leveraged to crypto, nowadays at least, did they make a mistake?

    Jason: (23:09)
    You know, I think it's fine for people — not speaking about Robinhood -- I think it's fine for people to participate in crypto if they're accredited investors and if they're educated. I sincerely believe people should be able to do what they want to do with their money. They're allowed to go to Vegas. They should be able to do that. So on the retail side, I do think people should be able to buy tokens or crypto. I just think it should all be regulated. And I think, you know, what Coinbase and Robinhood and all of these platforms really need to think about is, you know, when they put these tokens up, who should be buying them and what knowledge base do they need? And I think I'm a big fan of the freedom for you to do with with your money what you want. But I also think there's a responsibility of the people creating the tokens to do it.

    And now what is the liability for platforms? I think that's somewhere in between. So, you know, the people who are creating these things, those are the people who are 99% responsible. And those early investors I'd say the platforms and other folks they're 1% responsible for this. People should be able to buy and sell whatever SPAC, they should be able to gamble. I'm a gambler. You guys know that. So I feel fine about that, but I also think that the silver lining of all this is people are very critical of this, you know, Gen Z, stonks, Robinhood generation, meme stocks, crypto. I actually think what we've done is we've made one of the most sophisticated generations financially that's ever been created, what these 20 somethings have learned in their first couple of years or decade of investing dwarfs what the generations before them knew.

    I know young people who are trading puts and calls and shorting stocks and buying crypto and alternative assets. So I think all that's really good. And I think you learn by doing. So even if people did, you know, get burned a little bit by Gamestop, I am super permissive of young people and retail investors being able to do what they want with their money. And I do think they understand the risk they're taking. So even the people who bought crypto, I think they knew what they were doing. They wanted to make an absurd return in a short period of time. And if they got burned, that's on them. It's like going to Vegas and just putting all your money on like one hand of Blackjack. You knew what you were doing. You knew it was a stupid bet, but you have the freedom to do that and you should have the freedom to do it. That's my personal belief.

     

  5. 10 hours ago, Humble Beast said:

    I’m anti “crypto” but acting like a Coinbase employee being busted for insider trading is some big gotcha is pretty silly. Ever looked at the legacy financial system? Cmon. 

    HEY! LET'S IGNORE ILLEGALITY and complete and regular fraud because other industry has bad actors 4

    how many shtcoins have gone to zero? how many millions / billions? vanished with founders or OG investors getting out before others got fleeced.

  6. 6 minutes ago, Eskimohorn said:


    Does Twitter really want Musk? Seems like he’s full on Bond villain these days. Or does Twitter just want to recoup the damage he may have caused.

    Think he could tank the whole service.

    If I'm on the board, either outcome is great. Either twitter gets a windfall cash from lawsuit our deal is completed which I am no longer a board member and investors get a huge premium to current valuation.

    • Hook 'Em 1
  7. https://www.reuters.com/legal/transactional/judge-twitter-v-musk-made-rare-ruling-ordering-deal-close-2022-07-15/

     

    Quote

    July 15 (Reuters) - The judge overseeing Twitter Inc's (TWTR.N) $44 billion lawsuit against Elon Musk has a no-nonsense reputation as well as the distinction of being one of the few jurists who has ever ordered a reluctant buyer to close a U.S. corporate merger.

    Kathaleen McCormick took over the role of chancellor or chief judge of the Court of Chancery last year, the first woman in that role. On Wednesday, she was assigned the Twitter lawsuit which seeks to force Musk to complete his deal for the social media platform, which promises to be one of the biggest legal showdowns in years.

     

    "She already has a track record of not putting up with some of the worst behavior that we see in these areas when people want to get out of deals," said Adam Badawi, a law professor who specializes in corporate governance at the University of California Berkeley. "She is a serious, no-nonsense judge."

     

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