CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
DurwinBurger King gave candy to a worker has worked for more than 20 years.
The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
DurwinBurger King gave candy to a worker has worked for more than 20 years.
The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
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Chamath is verbose, smooth and very persuasive — all the charms of a Bond Villain.
Chamath Palihapitiya is the most charming Bond villain you would ever meet.
He is known as the SPAC king.
He is worth $1.2 billion.
He made his money from his time at Facebook in their early days and cut his teeth working in a VC firm.
He owns 10% of the Golden State Warriors, now worth close to $800M.
He is the classic meme lord.
He isn’t afraid to blast his haters and dunk on naysayers.
He is well known for speaking up on inequality, making money, supporting capitalism and his disdain for things like Facebook and “old money”.
As the SPAC king, he must have made lots of money from that right?
Of course!
But for the other people, namely retail investors who joined him in the investments after the companies IPO, not so much.
He drums up excitement amongst the people, hype up the companies and trumpets about how great an opportunity it is to be able to invest in these companies.
Throwing down the gauntlet and being persuasive is what Chamath excels at.
He is essentially creating FOMO (fear of missing out).
It is rumoured that FOMO drives more people to buy something that any other emotion.
Why?
Simple.
We humans are programmed to be more affected by loss aversion.
In other words, we have a stronger tendency to avoid losses, even if its unrealised, potential losses in the future.
When FOMO hits the top level, he dumps his shares on retail investors.
At least, that is what netizens are gossiping about anyway.
Virgin Galactic.
OpenDoor.
Clover Health.
SoFi.
Most of his SPACs have plummeted since their IPO.
All of these SPACs were hyped up by Chamath and he sold of his shares, cashing out before the stock prices fell disastrously.
All 4 SPACs have slumped in prices in 2021 (this was before the markets got real bad).
Essentially, none of them, contrary to what Chamath has been preaching about, made investors any money.
Metromile, another one of Chamath’s SPAC deals, was value at $1.3B and has declined steadily ever since.
The market cap is of Metromile is around $137M now.
Chamath’s Social Capital still has 6 more SPACs looking for targets to acquire.
What an interesting mechanism to make money don’t you think?
Create a mechanism like SPAC, raise money and sell a powerful narrative, find a nice company to acquire and when retail investors jump in, sell off the shares when it peaks.
It is completely legal.
No crime was committed.
While it may not have been entirely transparent, investors went in eyes wide open.
Combined with Chamath’s amazing charm and gift of the glib, it is a remarkably successful way to make some money from the market.
-
Have you heard of the SPAC King Chamath Palihapitiya?
-
#startups #business #startupx #growth #success #socialmedia #culture #entrepreneurship #strategy #chamath #ChamathPalihapitiya #spac #spacking #billionaire #opendoor #cloverhealth #virgingalactic #sofi #ipo #retailinvestors
Chamath is verbose, smooth and very persuasive — all the charms of a Bond Villain.
Chamath Palihapitiya is the most charming Bond villain you would ever meet.
He is known as the SPAC king.
He is worth $1.2 billion.
He made his money from his time at Facebook in their early days and cut his teeth working in a VC firm.
He owns 10% of the Golden State Warriors, now worth close to $800M.
He is the classic meme lord.
He isn’t afraid to blast his haters and dunk on naysayers.
He is well known for speaking up on inequality, making money, supporting capitalism and his disdain for things like Facebook and “old money”.
As the SPAC king, he must have made lots of money from that right?
Of course!
But for the other people, namely retail investors who joined him in the investments after the companies IPO, not so much.
He drums up excitement amongst the people, hype up the companies and trumpets about how great an opportunity it is to be able to invest in these companies.
Throwing down the gauntlet and being persuasive is what Chamath excels at.
He is essentially creating FOMO (fear of missing out).
It is rumoured that FOMO drives more people to buy something that any other emotion.
Why?
Simple.
We humans are programmed to be more affected by loss aversion.
In other words, we have a stronger tendency to avoid losses, even if its unrealised, potential losses in the future.
When FOMO hits the top level, he dumps his shares on retail investors.
At least, that is what netizens are gossiping about anyway.
Virgin Galactic.
OpenDoor.
Clover Health.
SoFi.
Most of his SPACs have plummeted since their IPO.
All of these SPACs were hyped up by Chamath and he sold of his shares, cashing out before the stock prices fell disastrously.
All 4 SPACs have slumped in prices in 2021 (this was before the markets got real bad).
Essentially, none of them, contrary to what Chamath has been preaching about, made investors any money.
Metromile, another one of Chamath’s SPAC deals, was value at $1.3B and has declined steadily ever since.
The market cap is of Metromile is around $137M now.
Chamath’s Social Capital still has 6 more SPACs looking for targets to acquire.
What an interesting mechanism to make money don’t you think?
Create a mechanism like SPAC, raise money and sell a powerful narrative, find a nice company to acquire and when retail investors jump in, sell off the shares when it peaks.
It is completely legal.
No crime was committed.
While it may not have been entirely transparent, investors went in eyes wide open.
Combined with Chamath’s amazing charm and gift of the glib, it is a remarkably successful way to make some money from the market.
-
Have you heard of the SPAC King Chamath Palihapitiya?
-
#startups #business #startupx #growth #success #socialmedia #culture #entrepreneurship #strategy #chamath #ChamathPalihapitiya #spac #spacking #billionaire #opendoor #cloverhealth #virgingalactic #sofi #ipo #retailinvestors
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