All the crap you never needed

  Decent JCal intros SBF Crypto Bailout Bails out BlockFI and Voyager $200M LOC to Voyager $250M to BlockFI BTC went up with stimulus money and low interest rates People also learnt to run off chain Bitcoin arbitrage You put your money in BlockFI, they will give you 10% interest, they put that in Terra, they give them 20% interest, so when Terra dies everyone wants their bitcoin back and so everything crashes Lot of systemic risk largely around Bitcoin If you have crypto in custodial accounts in off-chain brokers 3AC bankrupted Zero oversight so systemic risk People don’t even understand chain of custody - you might not own the BTC at all After crapping on boomers, these people are worse than existing finance industry SBF, his brother Gabe and Dustin Moskovitz are spending their money on increasing taxes in CA for Pandemic Preventiveness The work will report to these guys, not to UCs or some accountable entity These guys live in Bahamas and are funding ballot initiati

Why Besties were out for so long JCal thought the AllIn pod was his and then he realized it wasn’t JCal wanted to kick off Friedberg He said Brad Gerstner and Bill Gurley would have higher ratings Because Friedberg was apparently complaining all the time He said he could replace any of them He thinks Chamath is not He told Friedberg’s wife and mom he could be replaced They all thought it was 25% each - JCal thought it was more No more summits and businesses, just the pod Intros are 1% each 😛 They are back! Brad Gerstner episodes were higher rating 🙂 AllInSummit all episodes released Markets SPY down May CPI up 8.6% Think about the Great Financial Crisis (GFC) - US stepped in and Fed Reserve bought stuff Pseudo scientific economists came up with MMT - print money and stimulate economy and drive long term growth and governments fell for it Govts around the world printed $35T into the economy that should not have been there So we have been artificially doing this