or fundamentally the business (as run today) does not work because in reality it can be run by 50 engineers one manager and one ceo and does not need a bloated head count and massive stock based compensation
uber could be a small business operation with a highly optimized tech stack
if you ever hear a tech entrepreneur or VC praised for their early investment in uber and lyft feel free to roll your eyes.
this is what growth at all costs looks like:
Uber Revenues (Billions)...
2022: $31.9
2021: $17.5
2020: $11.1
2019: $13.0
2018: $10.4
2017: $7.9
2016: $3.8
Uber Net Income (Billions)...
2022: -$9.1
2021: -$0.5
2020: -$6.8
2019: -$8.5
2018: +$1.0
2017: -$4.0
2016: -$0.4
Lyft Revenues (Billions)...
2022: $4.10
2021: $3.21
2020: $2.37
2019: $3.62
2018: $2.16
2017: $1.06
2016: $0.34
Lyft Net Income (Billions)...
2022: -$1.58
2021: -$1.01
2020: -$1.75
2019: -$2.60
2018: -$0.91
2017: -$0.69
2016: -$0.68
children are the life teachers of adults.
many adults choose not to listen but a child will teach an adult patience, love, selflessness, and long term thinking
on nostr you are not the product.
the app and the relays are the product.
i hope you are using whatsminer tools to underclock your miners frequency by -30% in order to get efficient 26J/Ths
ask anyone on the street if they want to go to war and the answer will be "no"
ask a small group of people if they personally will go to war and they will all say "no"
delegate authority over a large group to another small group and ask the small group to send the large group to war and they will say yes
it is always easier to outsource violence than to do it yourself.
don't celebrate this enforcement from the sec. it is an embarrassment to regulators and hester peirce describes here in a dissenting opinion https://www.sec.gov/news/statement/peirce-statement-kraken-020923
i'm no lawyer but it seems like a sensible agency would give continued guidance for. we technology and financial products rather than educating through enforcement.
however if the goal is to "look tough" and gain political credits it is better to win cases.
"show me the incentive and i will show you the outcome"
"Swiss President and the Minister of Health are under investigation, indictment, and prosecution by the Attorney General for Covid Crimes involving lying about the vaccine effectiveness and safety. Thailand convening war crime tribunals to nullify Pfizer Contracts"
https://mobile.twitter.com/SpartaJustice/status/1623050775952859149
also if your hard drive fills while you stake you get penalized while you pause the validator https://www.reddit.com/r/ethstaker/comments/10xxh9n/can_i_temporarily_pause_staking/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
staked eth is not able to be swapped
what i imagine they are doing is keeping the staked eth in a staking validator and giving "different" eth to the customer when they ask for withdrawal.
since they own all of the staked eth as an exchange they continue earning yield but the customer does not
if they are allowing withdrawals then they are somehow hedging their customer liability with an Staked-eth derivative
risk cannot be destroyed it can only be transferred
no. it stays in limbo. it can be unstaked but not withdrawn
don't celebrate this enforcement from the sec. it is an embarrassment to regulators and hester peirce describes here in a dissenting opinion https://www.sec.gov/news/statement/peirce-statement-kraken-020923
https://violationtracker.goodjobsfirst.org/industry/financial%20services
Tracker of largest money launderers and financial crime offenders
say what you will about N.N. Taleb but his writings on the concept of "skin in the game" was an eye opener.
there is a lack of personal responsibility because so few experience direct consequences for their actions.
most have "no skin in the game"