1helloworld1
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5 years ago
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on: Coinbase valued above $100B, ahead of direct listing
I am afraid that we might be on the verge of another dot com level bubble. It's interesting to see how one inflated asset is propping up another. Tesla - which rose by 1000% in 2020, bought bitcoin. Ark Invest Etfs - some of the biggest actively managed etfs, hold significant amount of Tesla, and with the profit generated from Tesla's phenomenal rise, they are investing more on bitcoin.
I believe in the future of cryptocurrencies, but the current state of bitcoin is abysmal. It's slow, expensive and the hacky patches on top (lightning network) either haven't been widely adopted or are still buggy. This all seems so much like the pets.com of the dot com bubble era. Great idea but terrible implementation.
https://www.forbes.com/sites/billybambrough/2020/07/09/bitco...
1helloworld1
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5 years ago
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on: Robinhood CEO, Reddit Co-Founder and Others Testify on GameStop Stock
I don't know if people have already forgotten, but it used to cost 5$ - 10$ per trade to buy stocks before robinhood came along. For better or worse, they made trading cheaper and much easier for newcomers. Brokerages like TD Ameritrade, E-Trade, Schwab used to charge outrageous fees for trades, but still sold the order flows.
1helloworld1
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5 years ago
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on: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future
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1helloworld1
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5 years ago
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on: Vertical farms grow veggies on site at restaurants and grocery stores
I don't think you can flash freeze leafy greens and still maintain the texture. Have you eaten flash frozen lettuce for salad?
1helloworld1
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5 years ago
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on: Facebook's role in Capitol protest larger than previously thought
"The Democrats have the power now and they will use it to suppress any opinion they disagree with" - that's quite a leap. Isn't it Trump and the republicans who want to repel Section 230 so that all websites are forced to moderate content?
Let's not forget foxnews - the most watched cable news in the United States. It has been spewing republican propaganda since 1996, and will continue to do so in the foreseeable future.
1helloworld1
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5 years ago
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on: Tesla's market cap now accounts for roughly 1/3rd of the global automaker market
Another mini dot-com bubble in the making. Anybody remember when Cisco became the most valuable company in the world? I don't, and I am pretty sure a lot of young investors in their 20s and 30s don't. This phenomenon is nothing new. Issac Newton, after losing 3 million dollars (in today's valuations)- "I Can Calculate the Motions of the Planets, but I Cannot Calculate the Madness of Men".
1helloworld1
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5 years ago
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on: Oracle Moving HQ to Austin
Shouldn't the republican party be worried? If the trend continues and a lot of companies move from California to Texas bringing along a lot of liberal employees with them, won't that tip the already narrowing margin towards the democratic party?
1helloworld1
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5 years ago
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on: Jane Street Market Prediction ($100k Kaggle competition)
Isn't it pretty well known in the finance world that using stale public information to predict the market is a fool's errand?
Unless you have some kind of specialized non-public data (e.g satellite images of number of cars parked outside parking malls, number of cargo ships moving in and out), trying to predict the market with historical data does worse than "Just give me some monkeys, darts and a dart board".
1helloworld1
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5 years ago
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on: U.S. Watched George Floyd Protests in 15 Cities Using Aerial Surveillance
Nobody in power cared about George Floyd's death until the violent protests. As Noam Chomksy once said -
See, people with power understand exactly one thing: violence.
1helloworld1
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6 years ago
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on: The Billionaires Are Getting Nervous
Not surprising since they produce a lot of original content that's pertinent to the smarter crowd.
1helloworld1
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6 years ago
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on: Hold That Recession: U.S. Indicators Are Trouncing Forecasts
Germany and India are heading towards a recession. China's growth rate is slowing. If there is a global recession, I don't think U.S. can escape it. A lot of U.S. companies sell their products globally. Here is share of foreign revenue of some U.S. companies - Ford - 51%, Bank of America - 20%, Boeing - 41%, Amazon - 45%, McDonald's - 66%. Ford employs 85000 people in U.S. If Ford's global sales declines by 20%, they will close some U.S. plants and lay off employees. Even if just 20% of the companies in S&P 500 start laying off people, that will soon have a cascading effect. People who lost their jobs will stop spending. Even the people who have jobs will be afraid to spend on anything major - new houses, new cars, etc.
