Had a really interesting conversation with @matt_levine about the intersection of technology and finance, coming to an Internets near you in the not too distant future.
I definitely learned something; hope everyone will enjoy it.
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That’s kind of beautiful: the very fact that your business is risky de-risks the offering enough such that you can access the money necessary to take your risky shot.
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2 questions. 1) why is this better than writing a call option; and 2) how do they reach a fair valuation of the premium when everyone hopes the upside is grossly nonlinear?
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