Rapid Coverage of a World Gone Full Cyberpunk
I had all but mothballed this project because, frankly, I was neglecting it. But lately I’ve been feeling like some kind of inflection point has been reached. When multiple unicorns are underwater or in danger of going underwater on their IPOs ($TLRY, $SNAP, $UBER, that other one…. ) or at least looking like they should be under water ($BYND) and then WeWork looking like it may not even make it to the gate…. combined with yield curve…
AirBnB, the tech unicorn that monetizes your spare room has been hit hard by the Coronavirus academic. As the company and the phenomenon grew, more and more “investors” levered up to buy more properties to rent out short term. Some becoming so-called “super-hosts”, running dozens or even hundreds of rental units. There even emerged a phenomenon, of “STR arbitrage“, which is Short Term Rental Arbitrage: taking out long term leases on properties you don’t own,…
So yeah, I decided with WeWork and $TSLAQ and assorted unicorn b.s (like TIL that Softbank put $300M into a dog walking app can you believe that?) even though I’m busy with normal things, I am rekindling VCrap. On a whim I decided to look up a company I heard about a few years ago, a hot start-up that secured $6.75M series A …to rent Legos by the month. That was in March 2014. In Feb,…
Thomas Sowell, dropping gold bombs
Thomas Sowell.
Thomas Sowell quoted this