For many late stage DATs, the profit model will be buying back their own shares at large discounts to mnav from trapped vested shareholders

The remaining bull case for pump here is this is nearly 50% down from the ICO price. Those sale proceeds can be used modestly to rebuy, as they have effectively scalped the ico buyers. A rapid move back higher would change the narrative, and his confirmation of no airdrop would make fresh buyers more comfortable buying. At under $1b circ, even the ongoing $250k/day of buybacks is nearly $100m / yr. Early round investors would also come out of the woodwork to defend their bags, as further deterioration begins to have longterm implications.

Trying to learn here..hard not to back Thailand in this fight but I might be missing something

Any experts on the Cambodia / Thailand border war that just began?

Compared to these newer DATs, Saylor has nurtured mnav on mstr in such a classy way over the years that he comes across as old guard old money now One of the reasons for this is his profile of investors is far diff and fully unlocked

Issue w the thesis that pumpfun will put existing treasury back into token is that part of the pt of the token is to placate equity investors in exchange for not having to give them pre-tge cash revenue. Using said cash to then buy token would defeat this purpose; simple dividends would be easier.

Hunter Biden most well adjusted Yale Law grad

How did fomc for retards go?

never give up

It is absolutely insane that women only play best of three sets for tennis yet basketball hoop is same height as men’s. If the rim was a foot shorter the sport would be watchable.