They will play this interview in Harvard’s Business School program for centuries to come on what exactly not to do and saying during a nationally televised interview.
Longfin CEO makes a good case for short sellers: 'We do not deserve this market cap." $LFIN pic.twitter.com/OEmIU3yHTC
— The_Real_Fly (@The_Real_Fly) December 19, 2017
It started off all well and good. Then about 2-3mins in, the poor CEO of Longfin, Venkat Meenavalli, got TRIGGERED and started to deride his own stock, saying they ‘didn’t deserve’ the present market cap, which apexed at over $5 billion. He hedged his derision by saying he’d lock in his shares for 3 years and didn’t have any intentions of selling because his company was profitable and because he’s a ‘shadow banking guy’, declaring it to be a market valued at an absurd $72 trillion.
This all came about when CNBC’s Brian Kelly questioned his acquisition of crypto company Ziddu — just two days after IPOing, a company that he owns.
Grab a bag of popped corn and watch this absolute train wreck of an interview and try not to choke on those little niblets as they traverse down your trachea.
Shares of LFIN plunged by 14% following this interview.
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Congrats to all retards that bought this solid company at $129 yesterday.
Cmon fly he has a protiable company, cut him some slack!!! Best video ever.
His voice hurt my ears. Like being barraged with a dog whistle inside an echo chamber for 10 straight minutes.
He got ambushed.
I can’t understand a word this guy is saying. How do these guys not bust up laughing on the set?
Very clear to me.
He’s the CEO of a Reggae company.
He:
a. owns 97% of the shares,
b. doesn’t want to sell any of them
c. but listed his company publicly.
He believes that the market cap is crazy.
At least that’s what I got from it.
A day in the life of IPOs and ICOs.
I want a Reggae company too.
Honest question: How suddenly is a Trillion dollars of new monetary wealth magically created in our society without another asset class selling off? You can’t just create a new currency and poof trillions in wealth are now circulating, this must in turn remove money from one area and put it into another. What am I missing?
This is no different than the how the stock market works. If you put a buy order in for $5 billion in Apple stock, you would likely impact the price enough that the market cap would go up by more than $5 billion. If someone else did the same immediately after you, your shares would go up in value even though you didn’t “move” anything from another asset class. If Apple went bankrupt tomorrow after burning their mounds of cash in big bonfires, all that market cap would vanish in an instant without any of those “assets” of Apple shares moving anywhere else.
Actually, it’s all phantom wealth imagined by the very last bid/sale at the margin. For example, if there’s 100 tokens of unknown value and then one of the tokens sells for $5, that one sale determines the cap of all tokens, thus $500 for the total. Pretty much close to zero chance that if all holders wanted to all sell at the same time, each would get $5.
And that is exactly the scam called bitcoin. A few large BTC accounts control the majority of btc by not truly selling them but by trading them in wash trades while dipshit newcomers buy scarce but available fractions of bitcoins at ever so higher prices.
When gluttons had real balls…
https://priceonomics.com/how-the-hunt-brothers-cornered-the-silver-market/
Full calendar, going backwards:
Dec 15: Longfin acquires Ziddu
Dec 13: Longfin IPO date
Dec 11: Longfin CFO Krishanu Singhal, and COO Raj Mondraty resign
Perfectly normal…
I love people from India, we should let as many of them come to America as they like.