Pinned
I attended the SBF trial. It was one of the most mind-blowing experiences of my life. Seeing him get a 25 year sentence today is as surreal as it felt sitting right behind him in that courtroom. Here’s my story of that day:
- Web2: "If you're not paying for it, you are the product." Web3: "If you don't understand the source of yield, you are the yield."
- > be Justin Sun > spawn in China in 1990 > graduate from Peking Uni (harder to get into than Harvard), then UPenn > found Peiwo, China’s largest live chat app with 10M users > become Jack Ma’s golden boy protégé > CCP: “this guy's promoting aural porn” → permaban > at 23, join
- Figma just left $2.3 BILLION on the table -- nearly double what they actually raised. IPO'd at $33. Target open at $95. That's not "market excitement". It's deliberate underpricing and legalized theft by investment banks who sold it cheap to their institutional buddies. Retail
- Know a hedge fund who made $200M off the Figma IPO Called up Goldman Sachs the night before the IPO, got in at $33 and dumped first day at $130 Your reminder it doesn’t take founding something to get richKnow a guy who made $15M off the Figma IPO. Worked there 5 years, got in at $300M valuation and initial comp was 75k/yr of equity Your reminder it doesn't take founding something to get rich.
- the school year ended and chatgpt usage plummeted 70% maybe the cluely opportunity is bigger than we thinkwhat the freak happened to openai june 6th
Readers added context they thought people might want to knowReaders added contextThis chart does not show ChatGPT usage. It shows OpenAI API usage in OpenRouter. openrouter.ai - Figma stock down 67% from IPO day Thanks for playing retail
Figma just left $2.3 BILLION on the table -- nearly double what they actually raised. IPO'd at $33. Target open at $95. That's not "market excitement". It's deliberate underpricing and legalized theft by investment banks who sold it cheap to their institutional buddies. Retail - tomorrow's south park episode is about... prediction markets????
- i'm a hard believer that anyone is always 2-3 good decisions away from an exponential that makes the rest of their career look like a footnote look back on the past 2-3 yrs and u'll be surprised by how many ppl 10x outperformed expectations out of nowhere never underestimatei'm a hard believer that anyone is always 2-3 good decisions away from an exponential that makes the rest of their career look like a footnote look back on the past 2-3 yrs and u'll be surprised by how many ppl 10x outperformed expectations out of nowhere never underestimate
- A Fantom Thesis. The L1 rotation is gaining momentum, and there’s nothing you can do to stop it. I condensed 50 pg of research into the most comprehensive thread on FTM yet.
- A NEAR Thesis. @NEARProtocol is the fastest sharded PoS chain with unique sharding tech, high multi-chain interoperability, and relentless focus on UX/DevX. 1/x
