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HEALTH, WEALTH, AND HAPPINESS |
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| "By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens." - John Maynard Keynes |
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| Post-Merge ETH Will Be a Bond (CoinDesk): As we look to the upgrade of Ethereum (currently scheduled for July), this article argues that ETH 2.0 will function like a bond, generating revenue while still letting you own the underlying value you invested.
Investor takeaway: Well, not quite. A better analogy is a savings account that pays massive interest (by today's standards). But that "interest rate" will be highly variable: see chart below. |
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Here's a model of potential "staking APR" (read: interest rates) on Ethereum 2.0, courtesy Arthur Hayes. |
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Investor takeaway: The long-term "Staking APR" (highlighted in orange) is what you might expect from staking the new Ethereum -- in addition to the value of the ETH itself. Ready to invest yet? |
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| Hi Everyone,
If you can't beat 'em, buy 'em.
By now, you have no doubt heard the news that after appearing to mull it over a bit, tech billionaire Elon Musk is now Twitter, Inc.'s largest shareholder. |
The surge that Twitter share prices experienced following this revelation far surpassed the price increase that took place after the actual share purchase on March 14. |
Including today's pump, Musk has added another cool billion to his stack...which represents a less than 0.4% increase in his overall net worth. |
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Free speech?
To the casual observer, it may seem that the purchase of Twitter was about fixing a platform that is clearly broken. However, a simple look at the calendar reveals how Musk was intentionally misleading his 80 million followers, the media, and everyone else, taking them on a wild goose chase.
Here we can see the tweet thread where Musk asked his followers about Twitter's stance on free speech and talking about possibly launching a rival platform. Look at the date!! |
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| Basically, the above tweets were posed 11 full days after Musk had already completed this massive purchase. He must think that we're all idiots or something, and judging by the reception in the media today, many of us clearly are.
Will Musk use this as an opportunity to improve the platform? Will Twitter now promote free speech, bring back former President Donald Trump, add an edit button, fix the like bugs and shadow bans (as I discussed with CoinDesk today timestamp: 20:39) or integrate dogecoin somehow?
Time will tell, but we should at least understand that even though he's the largest shareholder, it's still a minority stake, and Musk will not have much actual decision-making capability at a management level.
However, he is a master at leading from behind, so it's not as though he won't have any influence over the way the platform develops. |
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My take
Like Trump before him, Elon is a master of the media cycle. Throwing shade, deploying smoke and mirrors and harnessing misdirection tactics are his bread and butter.
Building a new platform and amassing 80 million followers there would be difficult and risky. Even with a flawless execution and outstanding user experience, there's no guarantee of success. Buying out the incumbent is a much easier and a safer bet.
To me, this news is not at all dissimilar to any other billionaire buying a media outlet. Musk very recently (on March 28) criticized Jeff Bezos for his ownership of the Washington Post, but I guess buying part of Twitter, the main communications platform for most journalists, politicians, and even crypto advocates, is ok. Go figure!
In summation, I don't think this is about free speech at all, in fact it's about the opposite. You may have fooled the masses, Elon Musk, but not me. My eyes are wide open.
Wishing you all an awesome week ahead!
Best regards, |
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| Mati Greenspan Analysis, Advisory, Money Management |
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It do be like that sometimes. |
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