Tech investor | VC @WhiteStarCap
London, UK | Lisbon, Portugal
Joined October 2009
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Nick Stocks retweeted
So this is what I don't understand from Musk and the Trump supporters. They're now claiming Covid was a deadly Chinese bioweapon funded by USAID. But I thought the line was COVID was no worse than a cold, and lockdown was unnecessary.
Today I received for the first time an entirely AI generated conspiracy theory peddling video from a friend, using it as a "see I told you so". And tbf it looks pretty authentic, only when googling it do you really see its fake. This is going to get very messy.
Odd to see a company be so transparent about why it is laying off 2k staff when this is the reason: "The jobs cuts come as part of “Project Magnolia,” which McKinsey maintains will help the company preserve the partners’ compensation pool.". Wow, says a lot
Seeing first hand with my Brazilian family and friends how people will form crazy beliefs to maintain consistency of thought to explain that "their side" is "right". In this case Bolsonaro+supporters=good / Lula+supp=bad. 1/2
Nick Stocks retweeted
The craziest part of this whole story will be in a couple of weeks when Gell-Mann Amnesia takes hold and people will be talking about FTX as a complete fraud but Binance and Tether as totally legit.
epsilontheory.com/gell-mann-…
I'm sure many of the investors relied on the belief that Sequoia did extensive DD. However a 200m+ ticket for them - where house view is "A write off? no problem" - is not the same a 200m ticket for others. Always a danger for a follower in any round with a mega fund
Too many of the takes on FTX events focus on CZ playing "chess" rather than the fact that trust, regulation & transparency would not have caused this mess to begin with
Not much of the news is focused on prices of jpegs these days (given all going on in crypto land) but judging by the apparent disappearance of ape and pixelated twitter profile pics from VCs I guess that it's been hit hard?
How long until an article comes out saying that insiders sold heavily ahead of the announcement today at Celsius? bloomberg.com/news/articles/…
Nick Stocks retweeted
VC conversations:
2017: take our $ and hire like crazy.
2018: take our $ and hire like crazy.
2019: take our $ and hire like crazy.
2020: take our $ and hire like crazy.
2021: take our $ and hire like crazy.
2022: wow, you are burning $ like crazy. how did this happen?
Bernie Madoff would have loved stablecoins and staking
Yikes. @stablegains took USDC and USD via wire from customers promising them 15%, put it all into Anchor without telling them, and skimmed 4% off the top. They have now changed the denominations in their app from USD to UST and are nuking the landing page & old terms. (1/2)
This is going well 🤦♂️
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