> definitely not snobby
Your perceptions differ from my own. I used to idolize SV until I moved here. I have never met a more entitled group in my life, and I grew up with multiple billionaires' children.
1,680 karma · joined February 10, 2017
Your perceptions differ from my own. I used to idolize SV until I moved here. I have never met a more entitled group in my life, and I grew up with multiple billionaires' children.
4k is 4096 x 2160, 5k is 5120 x 2880
There's also a really helpful diagram on that page
Why do you think this?
You'd have to be an idiot to think otherwise.
I wish HN was way, way harsher with its commentary. I understand your perspective and realize I'm outnumbered here, but basically we fundamentally disagree (and that's okay!).
I'd rather see more arguments about controversial topics from people with differing perspectives who bring data and logic to make their points. I hate that many things feel heavily censored on this site.
If you have to say you're not a shill, it's probably not working in your favor. You sound defensive. For what it's worth I don't think you're a shill but I think you're naive about cryptocurrency.
And if it's not worth $44 billion today then you're an idiot to buy at that price, because why not wait until the price is right? And if the price is just going to go up then clearly it is worth that today. This isn't even unique to crypto this is just investing 101. Why would you ever overpay for something if your goal is to make money?
I am speaking for the United States.
Also, what's to stop him from kicking those people out if he changes his mind? I doubt Zuck would ever write a honest contract that held him accountable for anything.
I'm interested in this bet. How much and what are the terms?
I'm not really a fan of misinformation either, but I will defend people's right to share their opinions freely (except in extreme situations where it advocates violence).
This is hardly unique to /r/wsb though. I mean yeah, I wish most people there were better informed as well. But I'm not sure how to solve that problem.
In my opinion /r/wsb is a net positive, although it obviously has its problems. The signal to noise ratio is awful, and the amount of shilling going on is ridiculous.
Isn't your entire argument that hedge funds are smarter investors, and therefore you cannot compete with them? And since hedge funds aren't accessible to people that aren't rich, doesn't that mean the market is rigged?
It sounds to me like you're upset that people are educating themselves about the market and drawing different conclusions than you want them to. It's their money and they can do what they want with it.
> Nobody would expect anyone to behave that way. Hedge funds have clients and need to reassure them that they aren't going to lose all their money. Any rational investor knows that Melvin could be opening up new short positions after GME had skyrocketed.
I don't care what people expected. I'm telling you what happened. And Melvin lost money. Obviously some hedge funds made money too, but you are specifically defending Melvin's position wrt GME.
> Hedge funds may not be smart enough be beat the market, but they're certainly smarter than a group of people who learned what a "short" is, after the squeeze.
This is why hedge funds lost money in the first place. Your denial is the fuel that continues to make /r/wsb successful, so honestly I find it refreshing. You want to believe you/they are smarter. That's it. You have no data to back up your claim. If you were right, GME would never have popped a second time and it would be trading for less than 1/10 its current price. You can call it irrational all you want, this opportunity is making people money that reject your thesis.
I'll continue to bet my money on my thesis and so far I have been ridiculously successful (far more than I was making at FAANG). I've already pocketed enough to retire so I'm not concerned about volatility. I encourage you to invest your money however you see fit. I'll do the same. So far it's working great for me.
'The hedge funds are smarter' is as stupid as 'the VCs know better.' It's a narrative they have to push to stay relevant. Otherwise they'd just point towards their balance sheets to shut people up.
It's theoretically impossible for hedge funds, in aggregate, to outperform the market.
Some people are pushing pump and dumps to make money. Some are ignorantly following along. Some genuinely treat it like a gambling addiction and enjoy it.
The GME thing though is unique, and there really is a narrative to hurt hedgies (in addition to all of the above).