By capitalizing on crypto lending services' high interest rate promises, 3AC's founders played the bubble perfectly, getting rich as 3AC's lenders went bankrupt
Matt Levine / Bloomberg : Mastodon: @carnage4life@mas.to . Tweets: @business , @rr_edmonds , and @matt_levine Mastodon: Dare Obasanjo / @carnage4life@mas.to : A fun but cynical take from Matt Levine. If there's a tech bubble where VCs are funding the dumbest ideas, then a great investment is to found a startup with the most buzzwords and the biggest hype, take a bunch of money off the table and then retire early when the bubble pops. … Tweets: @business : Crypto lending platforms had too much money and wanted to do something dumb with it, and 3AC helped them. https://www.bloomberg.com/... via @opinion RR Edmonds / @rr_edmonds : “Why is Adam Neumann rich? Because SoftBank made a mistake that involved spending $10 billion to build a $400 million company, and Adam Neumann was there to take the other side of that mistake.” https://www.bloomberg.com/... Matt Levine / @matt_levine : You eat very fatty pork dishes, and you drink a lot of alcohol, and you go to the beach and you just read this newsletter. You have these magical experiences. https://www.bloomberg.com/...