1) Not all bad things are the same bad thing
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3) Recently, Do Kwon was compared to Elizabeth Holmes:
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9) Similarly, people will now accuse anything that people lose money on of being a ponzi scheme.
Sometimes, there are real ponzis! Plus Token was a ponzi scheme: boxmining.com/plus-token-pon.
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10) But most bad investments aren't ponzi schemes. Some are fraud, some are bad luck, and some are somewhere in between.
Here are a set of investments that would have lost > 50% since the start of the year:
1) NFLX
2) LUNA
3) AMC
4) ARKK
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11) NFLX went up a lot and then down a lot, and is a real company.
LUNA went up a lot and then down even more, and had a very transparent but also very bad problem.
AMC went up a lot and then down a lot, because memes got more and less popular.
ARKK is a combination of those.
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What these and Theranos have in common is a market that wants to believe… until it doesn’t. The market is a sentiment network, and network effects are sometimes also negative.
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The point is that they are in a set of things which went down >50% but the circumstances and dimensions were different for each. He is illustrating the point by an example.
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