Oddbean new post about login | logout https://m.primal.net/JaYQ.png
Tell us how you really feel 😂
What was the actual point of this message though. Genuine question. I may never understand the VC system.
https://www.investopedia.com/terms/b/burnrate.asp i hear this expression "vc burn" from my boss, who is a former gartner associate analyst, a lot, and the whole business of the company he runs is about trying to find VCs to build a decentralized social network for work collaboration
Vocabulary I guess. But specifically, why post that?
because VC companies basically take money from investors and burn it trying to find a zinger that makes them a profit, and usually they all loose, it's like some kind of weird betting game
Odell is managing partner in ten31, a bitcoin first VC firm, and proud to show off that his choice to invest (other people’s money) in Swan might actually start paying off for the investors. Rare.
Nah, this is Odell pointing out Corey's hubris. In His previous, Corey, is saying that, like ten31 (O'Dell's vc fund) they used to lose money, but now they've grown smarter and will make loads of money. Today's announcement, Swan pulling out of mining and laying off loads of good bitcoiners, suggests Odell was right to be skeptical of Corey's claims.
What is going on? Is there a run on Swan? They insolvent?
They had mass layoffs today, probably killing their managed mining operations soon, and canceled their IPO plans
Mass layoffs? Do you have numbers?
Not that we see, but they are laying off at LEAST 6-7 employees so far. Both public facing and non public facing employees
73 allegedly
Layoffs and closing their mining
Loll
The What Bitcoin Did curse continues 🤣
Community Adjusted EBITDA
The power of WE
not sure why people sh*t on Swan. is it a dev thing.
