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I find it interesting when people make a fundamental miscalculation like you did. They perform EXCEPTIONALLY well … when you start understanding who they are performing for.

Gold rush … something, something … shovels.

But I know. I know. I speak heresy on this site. I repent and beg for forgiveness for saying the kind has no clothes on.

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They're great for the VCs who want to harvest management fees, but not-great for the institutions who put their cash in.

The real question is: as a society should we give 2/20 to people who spend most of their time wasting time on twitter and quoting Sapiens to each other?

So who are the shovel manufacturers in this case?

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