Thoughts in 2022
As the time goes by, my conviction on certain things validated. It seems that it is worthless to elaborate on them early until the event confirm my thoughts. Marketing - Advertising All of us probably discover that FTX used well known names to advertise its services. I am not sure who or what kind of people listen the FTX advertisements and use their services. Assuming that there are a certain portion of people (the one who want to be rich quickly), they probably saw their (principal amount of) money vanished. With the poor internal control, and non-existent check and balance, any cryptocurrency exchange don't look good at all. Auditors are starting to distance away, learning that its (validation) reports are not effective without any suitable methods. Charlie Munger gave crude verdict that we should never invest in cryptocurrency. It takes a long time until this FTX drama validated him. I wonder what mental models he use to analyse it very quickly. Back to the main headline subjec