Hearted Youtube comments on New Money (@NewMoneyYouTube) channel.
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At some point a few years ago, tech companies (including EV makers) figured out it's easier to sell things to investors than it is to sell things to customers. Just create hype with mockups, prototypes, and of course communications materials. If you actually make things in the real world you have a harder challenge, but your hype machine will probably sell more products than you have, and there's no need for them to cost less than they sell for, as your goal isn't to make money from the customers anyway.
"This is fine" vibes for the initial VCs and management since they can (at least partially) cash out when selling to normal investors, and the VC managers can always claim a win even if their customers didn't make money because, well, look at the hype, it could have.
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For my family in Argentina, cryptos have been a blessing. You cannot believe how hard it is to take your hard earned money out of Argentina. I've tried many different ways, from creating bank accounts for my family outside of the country, to buying Argentinian bonds in pesos and selling them for dollars outside of the country. It is getting harder each day, with new laws and regulations. Fortunately, cryptos are not yet banned, and volatility is not an issue: buy ETH transfer to an exchange, convert part of the ETH back to USDC, earn passive interest on the USDC (8,6%) while holding some of the ETH as an investment, diversifying part of it into BTC. Besides, not sure if you are aware of the news of the US Governement using USDC itself to transfer funds to the Venezuelan people bypassing controls of the Maduro regime...
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