It has been said that trust is the real flaw of the banking system. Inevitably counterparties must outsource their trust in each other to the bank as an intermediary, and with recent headlines, we can see that consumer confidence in banks is weakening.
I grew up believing in American exceptionalism. That the U.S. was better than other nations. That’s what I was taught. When I looked around, that’s what I saw. But among many other lessons, Trump has taught me that the U.S. is a banana republic, just like most other/every other nation in the world. And that actually makes […]
I was the first person to call Mark Zuckerberg in 2004 and offer to buy the company (I was running Bolt at the time). In March, 2010, I published the first Wall Street style research report on Facebook on a Tumblr blog, with a $100 billion five year price target (it was actively trading in the private markets at […]
Target Price = $50,000 (assumes $1 Trillion valuation and 20,000,000 BTC, fully diluted) I’ve been around the block. In the 90s I was an equity analyst following media companies at Goldman Sachs. I loved it. But the internet came calling, and I jumped in. After my 2nd company, I became an angel investor and then a VC. […]
While I focus on crypto, I’ve written a lot about Facebook over the years. I was the original Facebook bull following the publication of the first Wall Street style research report on Facebook in March of 2010. In April of 2017, I started writing about “The Profound Implications of Five Increasingly Dominant Tech Companies” (Facebook, […]
As of the writing of this post, Bitcoin is the top performing “asset class” of 2019 YTD, up 89% YTD. Bitcoin is up 22% in just the past week. And everyone wants to know why. The Markets Swing Between Bubbles And Crashes I have a word I use to describe the tendency of markets to become […]
I’ve written extensively about my experience seeing the crypto light, and why others struggle to see it. This post is about why, when people see the crypto light, everyone sees something different. The Blind Men & An Elephant The genesis of this post was the result of reading an interesting post by Casey Caruso “The five camps of crypto”. In […]
Per CoinMarketCap, total crypto market capped peaked at $795.8 billion on January 7, 2018. Since that time, we’ve lost over $680 billion in market cap. We’re down over 85%. Crypto total market cap bottomed at $102 billion. So at the bottom, crypto had lost $692 billion. However, the total amount lost by FAMGA (my acronym […]