keccers on Warpcast

keccers pfp

Unpopular opinion: this is not a problem worth addressing You think “oh waaah Joe Schmoe is deprived the ability to be the next Fred Wilson!!!” as if they would have his deal flow Removing accreditation will just fast track Joe Schmo to bankruptcy https://x.com/saraledterman/status/1497745438241296384

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kenny 🎩 pfp

is there any statistical data backing up the idea that people who are accredited make better investments than those who are not?

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keccers pfp

It’s not that they are better or worse or anything The barriers to the status aren’t so much about “being smart” as it is proving you won’t ruin yourself You can take a test to prove this, or you can just be rich enough that they are like fine, do what you want, you have enough

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kia pfp

isn't it weird that you can ruin yourself 101 ways but the one that you're barred from happens to be one of the only ways to 'ruin yourself' that happens to have an upside? i actually agree that the average person will not do well in these investments. the average person also doesn't do well day trading either.

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keccers pfp

One of the arguments being made over here to me is that access to such investment opportunities will actually decrease appetite for other types of speculation like sports gambling https://warpcast.com/keccers.eth/0x91cd39d7

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kenny 🎩 pfp

ohh I'm stealing that one

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keccers pfp

They thus far have had better arguments than all y’all lmao there’s a lot more there I could feed ya 😂

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shazow pfp

lol please share, I'm enjoying this thread's journey

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keccers pfp

Speculation is prosocial “The alchemy of finance is to commingle speculation with legitimate business activity. We must mix these up as much as possible for the greater good That is how we civilized human degeneracy into something prosocial. Simply denying it is not only anti freedom, but straight up ineffective”

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keccers pfp

We outlawed hard work and this is the result “If you make hard work illegal, don’t blame finance for managing to heroically squeeze out a profit from what is remaining” “It is legally much easier to do work in China. We should annex part of Mexico and build a new Shenzhen with the migrants”

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shazow pfp

I like that, I'd go further that speculation is natural. Our brain's learning is built on the foundation of speculation (making predictions about everything we do, and then comparing the results -- even walking). Most of our day to day actions are speculative, and that's fine.

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kia pfp

oh i agree and disagree. his argument is that market place is an innovation on degeneracy. i think it's actually reverse. degeneracy is not inherent, the techno-capital machine is. degeneracy is an emergent phenomena of artificially limiting the market.

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