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Originally Posted by superdog
Reading that folks like O’Leary, Curry, Cuban and Brady are taking big losses as they had large investments in crypto.
I can’t wrap my head around that. These guys have real money. I mean, multi generational wealth to the point where they (and future generations) almost can’t run out, unless they do something either stupid or risky.
Why invest in something, so largely, if it’s even remotely risky. Even the safest of investments, the most conservative investments, will provide returns that are massive for most of society. Massive!!
To me, it’s similar to that old adage, bulls and bears make money. Pigs get slaughtered.
I just can’t wrap my head around it. How much do they need that they are taking such big risks to get big returns? Returns they do not, and never will, need.
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Curry and Brady were just paid by ftx to be spokesmen. i've seen the headlines "set to lose big" but in reality no one knows how much they invested, if anything at all. maybe they invested a small amount in it for fun that they can afford to lose. Kevin and Cuban are totally different, these two are actually believers in crypto and want to see the industry grow and become something meaningful. again, they probably had a not so huge amount invested into ftx, if anything they got hurt more by having their own crypto sitting on there. i don't think these guys were full on risking half their net worths or something like that on crypto. you gotta realize both of them are also losing money on almost every deal they give on shark tank lol
this really just goes to show how big ftx was though, i mean they were donating to congress/politicians and getting close with the sec commissioner. they weren't just some random off shore exchange with an exit scam planned, they were legitimately building an empire, albeit it was on a house of cards of borrowed money. their name was everywhere. nba/mlb/nfl/f1/esports, all the biggest possible sponsorships