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Guy Spends $30M on Beeple

8 pointsby enigmatic02about 3 years ago

2 comments

themodelplumberabout 3 years ago
&gt; His advice for us: lean into what the nerds are doing<p>Wait, so I thought surely this would be &quot;us&quot; at least in some broad way, but also:<p>&gt; He borrows against the NFT in U.S. dollars, then uses the capital as a lender in a riskier, higher-interest DeFi transaction (I.E. the 20% UST yield we showed you on Friday).<p>OK he would be eaten alive in most tech communities if he even threw this idea out there.<p>The contingency-planner nerds would start talking about 2008 while they look around for a flat surface to lay on, and the more analytical nerds would probably ask if he even knows how much money he really needs to get by.<p>It&#x27;s like, lean into what the nerds are doing, but not _those_ nerds. You&#x27;d need to filter for the ones who are worried about not being risky enough &amp; cutting-edge enough.
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kderbymaabout 3 years ago
in other words....Debt backed securities replaced with useless-art securities....oh boy.