The market is obviously nowhere near the bottom.
FlowCarbon apparently seeks to blah-blah carbon credits on the blah-blah blockchain. The token is called the Goddess Nature Token (GNT).
I am absolutely stunned that anyone would give this moronic clown funding after his last debacle. He is an unhinged alcoholic whose wife is even worse. Incredibly, the funding involves crypto, which is a gigantic ponzi that is so audacious it would make Bernie Madoff blush.
Link: https://techcrunch.com/2022/05/24/flowcarbon-wework-adam-neumann-blockchain-crypto-carbon-credit-startup-raises-funding-from-a16z/
imprisoned for stupidity, but instead they'll be given more money
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Not sure if you have been following net-income-free tech, but it is getting beaten about the head and neck by a 2x4. Hopefully you are not invested, but take a look at the ticker ARKK if you want to see a quick proxy for what is going on in that arena. Still, incredibly, no net outflows from that fund in 2022. I would lump the Goddess Nature Token into the basket of net-income-free tech. Do you disagree?
Not sure if you have been following crypto stories, but a large "stable" coin called Terra/Luna evaporated in a matter of hours last week, causing billions of losses for the poor slobs who were involved. Basically, all of crypto is experiencing steep losses and it is my guess that there will be very few survivors. We will be left wondering how a tulip-mania got us yet again. Pull up a chart of MSTR if you want a quick proxy for the current fortunes of Bitcoin. I would lump the Goddess Nature Token into the basket of unlikely-to-survive-bullshit-crypto. Do you disagree?
Not sure if you have been following the broad market, but we are on the cusp of what the press likes to call a BEAR MARKET in the S&P. Additionally, many economic indicators have started to roll over and we are currently suffering through inflation north of 8%. The Federal Reserve is currently raising rates and will begin quantitative tightening in a few days. I would lump the entire stock market into the basket of investments that will likely do poorly in this environment. Do you disagree?
Adam Neumann, a fraud and a charlatan who lost billions of dollars through horrendous stewardship of his investors' money, has just been gifted a $70mm investment to try to take his bullshit blockchain scheme to the next level. This, to me, is an indication that there is still some speculative froth for Mr. Market to wring out before the bear begins in earnest. Do you disagree?