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The net result is that a huge number of our leaders are essentially stealing money, but they can't withdraw the money directly, so they have to spend the organization's capital on expensive nonsense to purchase status then convert that status into a better salary somewhere else at a really, really bad exchange rate. It really is embezzling without the charm of efficiency. We'd be better off letting them withdraw $1M instead of forcing them to spend $30M so that your competitor offers them a $1M raise.
Posted:

In the last issue of my newsletter, I wrote: “Side note: If someone promises you a risk-free 20% annual yield if you just let them hold on to your dollars for you, the risk that that you never see those dollars again is in fact very high.”

Anyway, here’s a post from Justin Sun today:

H.E. Justin Sun
@justinsuntron

USDD 2.0 is about to launch with a 20% APY, fully subsidized by @trondao. All interest will be sent in advance to a transparent address. There’s no other reason—it’s simply because we have plenty of money. So, stop asking me questions like “where does the yield come from.”
Posted:

update: the library director was in today and showed me his secret space opera hoard. new additions to the list:

  • August Kitko and the Mechas from Space, Alex White
  • You Sexy Thing, Cat Rambo

(haven’t read either yet, but he highly recommends)

he also had two of the books i’d been wanting to include in the display!

  • The Long Way to a Small, Angry Planet, Becky Chambers
  • Ninefox Gambit, Yoon Ha Lee
Two paperback books on a carpet: Cat Rambo’s You Sexy Thing and Alex White’s August Kitko and the Mechas from Space

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