https://pluralistic.net/2024/07/31/greater-fools/#coinbased
'Earlier this month, some of the richest men in Silicon Valley, led by Marc
Andreesen and Ben Horowitz (the billionaire VCs behind Andreesen-Horowitz)
announced that they would be backing Trump with endorsements and millions of
dollars:
<
https://www.forbes.com/sites/dereksaul/2024/07/16/trump-lands-more-big-tech-backers-billionaire-venture-capitalist-andreessen-joins-wave-supporting-former-president/>
Predictably, this drew a lot of ire, which Andreesen tried to diffuse by
insisting that his support "doesn’t have anything to do with the big issues
that people care about":
<
https://www.theverge.com/2024/7/24/24204706/marc-andreessen-ben-horowitz-a16z-trump-donations>
In other words, the billionaires backing Trump weren't doing so because they
supported the racism, the national abortion ban, the attacks on core human
rights, etc. Those were merely tradeoffs that they were willing to make to get
the parts of the Trump program they do support: more tax-cuts for the
ultra-rich, and, of course, free rein to defraud normies with cryptocurrency
Ponzi schemes.
Crypto isn't "money" – it is far too volatile to be a store of value, a unit of
account, or a medium of exchange. You'd have to be nuts to get a crypto
mortgage when all it takes is Elon Musk tweeting a couple emoji to make your
monthly mortgage payment double.'
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
