toly 🇺🇸

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toly 🇺🇸

toly 🇺🇸

@toly

Co-Founder of Solana Labs. Award winning phone creator. NFA, don’t trust me, mostly technical gibberish. https://t.co/LomgbTpb6h

🏔️🏔️🏔️ 参加日 Şubat 2014
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Akshay BD
Akshay BD@akshaybd·
incredible progress. Armani and backpack deserve all the fuss - they’ve been at it for yrs now. Hope Backpack leads the next cycle.
Jermaine@jermywkh

Pretty impressed with @Backpack securities. This is the future of on-chain finance. It's the only tokenized stock on earth you can on/off-ramp from a brokerage account and redeem for the underlying security itself. Every "tokenized stock" before this was a tracker certificate: bearer debt issued by an offshore SPV, backed 1:1 but giving you no claim on the actual share. With backpack you can: • Hold the tokenized security on Solana • Redeem it for the underlying security entitlement • Move that entitlement into a brokerage account through traditional ACATS / DTCC rails • Move shares back onchain again Comparing the 24 hour trading volume and liquidity of the two different onchain $SPCX variants:

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toly 🇺🇸
toly 🇺🇸@toly·
Democratic slopulism: states that do not want to build housing or datacenters or anything productive and have self inflicted high costs for everything as a result will want to tax the people of states that build housing and rockets and electric cars and datacenters, to pay for the self inflicted high costs of everything
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toly 🇺🇸
toly 🇺🇸@toly·
Future of finance
Jermaine@jermywkh

Pretty impressed with @Backpack securities. This is the future of on-chain finance. It's the only tokenized stock on earth you can on/off-ramp from a brokerage account and redeem for the underlying security itself. Every "tokenized stock" before this was a tracker certificate: bearer debt issued by an offshore SPV, backed 1:1 but giving you no claim on the actual share. With backpack you can: • Hold the tokenized security on Solana • Redeem it for the underlying security entitlement • Move that entitlement into a brokerage account through traditional ACATS / DTCC rails • Move shares back onchain again Comparing the 24 hour trading volume and liquidity of the two different onchain $SPCX variants:

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toly 🇺🇸@toly·
@MsMelChen You need to have large pools of capital to build anything. 19/20 startups fail, maybe 30% of 1b+ valuation companies succeed. A fund with a specific target check size needs 20x the capital.
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Melissa Chen
Melissa Chen@MsMelChen·
It’s true that large pools of capital can have distortionary effects on markets and democracy. But until leftists can show they’ve criticized Soros or Singham for it, nobody should buy their anti-oligarch virtue signal. Where are the receipts? Yeah, thought so
Melissa Chen tweet media
Lewis Goodall@lewis_goodall

Musk as a trillionaire- anyone as a trillionaire- is a grotesque economic, moral and political problem. We cannot have individuals with that level of power, whatever they might have achieved.

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Armani Ferrante
Armani Ferrante@armaniferrante·
It's Sunday. The one and only place--in the world--where you can buy $SPCX stock, stock that can actually make its way to your brokerage account on Monday, is on @solana. Internet capital markets are here.
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Robert Sterling
Robert Sterling@RobertMSterling·
SpaceX raised only $12B of capital before going public. With that $12B, they revolutionized the rocket industry, built a global satellite network, and created arguably the most innovative company of all time. The federal government spends $12B every 15 hours and still can’t get its shit together. Prior to SpaceX, NASA was sending astronauts into space on Soviet-era Russian Soyuz capsules. So no, I don’t find Elon’s wealth to be a problem, and I wouldn’t trust Elizabeth Warren or Bernie Sanders to allocate a single dollar of it.
Robert Sterling tweet media
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Michael Linden
Michael Linden@MichaelSLinden·
This is missing the point. It’s not specifically about this threshold or this particular man. The amount of wealth and power that is now concentrated in a relatively few hands is, indeed, bad for everyday people.
Jonah Goldberg@JonahDispatch

I don’t mean to be callous. But if the IPO fizzled yesterday, would your situation be any different today? Are you worse off because he’s a trillionaire? Were you better off on Thursday when he wasn’t?

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toly 🇺🇸@toly·
@LukeMiani They should totally pay a tax on earnings after deducting costs!
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Luke Miani
Luke Miani@LukeMiani·
Every argument I’ve seen in favor of unchecked billionaire wealth hinges on the assumption that their accomplishments beget such wealth, it is earned. Ok, let’s take that at face value. Wouldn’t the public dollars in the form of subsidies and investments also be entitled to reap the rewards of their sound investment? Should not the victor of the capitalist game owe some of his success to the country that made it possible?
Chris Freiman@cafreiman

Elon Musk became a trillionaire precisely because he solved important problems.

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toly 🇺🇸
toly 🇺🇸@toly·
I was born in the USSR, and socialists were either idiots, or sociopaths that take advantage of the idiots. He is blaming Elon and not his own voters who vote for local reps that create local zoning regulations. He is responsible for representing the people, or not? All costs are downstream of housing. Want good healthcare? Build enough housing that a nurse can afford a family sized 4bd on one salary with no over time. Want good policing? Same thing. So either he understands it’s his own voters local zoning regs or he doesn’t understand.
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Commanding Tater
Commanding Tater@redskin_potato·
@toly massachusetts needs to build more housing. but a united states senator has literally nothing to do with it. Markey has as much control over MA housing supply as any other senator. or any other American for that matter.
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toly 🇺🇸@toly·
lol. Senator from Massachusetts who created a self inflicted housing shortage wants to tax the people of Texas, who build electric cars and rockets, to subsidize the self inflicted housing shortage
toly 🇺🇸 tweet mediatoly 🇺🇸 tweet media
Ed Markey@EdMarkey

Elon Musk just became the world's first trillionaire. While working people struggle to get by, the billionaire class is becoming the TRILLIONAIRE class. It's disgusting. I'm fighting to tax the rich so we stop rewarding trading stocks over punching clocks.

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toly 🇺🇸@toly·
@haugejostein Wealth != capital. The wealth is the Tesla cars, the capital is the Tesla shares.
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Marc Andreessen 🇺🇸
Five dimensional chess doesn’t exist. Everyone is furiously improvising all the time. The future is utterly uncertain.
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