Dare Obasanjo: https://twitter.com/Carnage4Life/status/1589867071693017088

Total unrelated but son of https://en.wikipedia.org/wiki/Olusegun_Obasanjo. Numero uno looter of Africa

Wow. I like how his son’s Twitter profile talks about inclusivity. Very brave.

He very cleverly took his name out of his dad's wikipedia entry. It's still there in older versions: https://en.wikipedia.org/w/index.php?title=Olusegun_Obasanjo...

Not to be confused with the talented soccer player Sam Obisanya. https://ted-lasso.fandom.com/wiki/Sam_Obisanya#Dubai_Air_and...

Why even reference it then? We have understood that sins of the father are not the sins of the child since at least the book of exodus(~500BC).

If that tweeter has done something wrong in his life, then talk about it. But he didn't really have a choice on who birthed him.

From the wiki page:

> Some of his children were resentful that he gave them no special privileges and treated their mothers poorly.

I went to Georgia Tech with Dare. It's a great school, but it's not exactly the kind of place you send your scions of privilege.

Thats funny, sure going to Gtech for an American as an undergrad doesn't scream privilege but seeing that today the total cost of going to such school will run you around 400k as an international student, while millions of people graduate high school in Nigeria and have to go through the hunger games of Jamb for extremely limited spots due to the lack of investment in education lead by his dad and cohorts tells a different tale.

Someone like him not born to such father in Nigeria, will likely be an high school teacher getting paid $100 every 4 months.

Are you just assuming his dad paid for his school? Do you know if he received any scholarships? Do you know the finances of his mother/mother's side of the family?

A scholarship? People from Nigeria can't even get a visa into the US.

This is absolutely bullshit.

That's not even true in September 2022[0], let alone throughout the whole immigration history from Nigeria to the US.

There are a quarter of a million immigrants from Nigeria in the US.

[0]: https://travel.state.gov/content/dam/visas/Statistics/Immigr...

It's not because of the price point that you wouldn't send your overpriveleged kid there. It's because they'd run a decent chance of flunking out.

what exactly does Dare do? he always seems to have a take on every little thing in tech. is he a fulltime commentator?

We have also understood that sins of the father are sins of the child since at least the book of genesis(~500BC).

Wow! That's next level Ad Hominem & Genetic fallacies

Majority of early startups still don't make it past the valley of death even during a bull market.

This is like saying every great sailor happened to sail when the wind was blowing in the right direction.

There was an entire book about this that became famous during the financial 2008 crisis:

Fooled by Randomness by Nassim Taleb

https://www.amazon.com/Fooled-Randomness-Hidden-Markets-Ince...

It's literally about how options traders and the like can be lucky for 10 or 20 years, but they are actually idiots who destroy the economy.

They think they are skilled, and others think they are skilled, but it's luck. You can also call it "anti-luck" because their short-term actions can cause the long-term crisis.

This book was a #1 best seller, as were most of Taleb's books, but for some reason whenever I mention it to anybody, I get blank stares.

I think it's just really hard for people to understand phenomena that occur at time scales of say more than a decade.

(BTW Another good book about recurring economic cycles is Dalio's 2022 The Changing World Order. All of this stuff has happened before. This is separate from crypto, and relates to the global economic environment.)

This book was my introduction to Taleb and I loved it. I recommend it frequently.

> whenever I mention it to anybody, I get blank stares.

Maybe it's the circles you move in. In finance nobody hasn't heard of it.

Well deserved reputation too, it really changed how I saw things. It's weird because even as someone who studied probability and stats, I hadn't thought it would change my entire worldview.

Great book. It was my introduction to Taleb as well It profoundly shaped how I interpret markets and approach my own investments.

>It's literally about how options traders and the like can be lucky for 10 or 20 years

I don't see how doing anything successfully (in this case, gaining profit?) for 20 years can be described as "luck." Surviving/being successful that long trading isn't a fluke.

I haven't read the book, but I know that Talib talks about 'tail risk' a lot and 'risk of ruin'. Which are very different than what you describe. If my bet size is only limited to 2%, I would be happy to be "lucky" for 20 years!

Example: sell attractively priced insurance against a 100-year-flood. You make money for 20 years, but then a crazy big flood bankrupts your insurance company. Who would have thought that would happen?! Options (and other things) can be structured to create 'catastrophic insurance like' outcomes.

This is literally the definition of "beta" in equities trading. There is nothing bad with riding a good bull run. Ponzenomics is the issue here (imho) where we have to come to realize that there is no liquidity in many crypto currencies because there is not need to actually trade them. And projects that provide real yield (i.e., use an existing currency as their main currency of operations) fail to get traction because they don't provide the Ponzenomics scheme to their users.

"We’re going to look back at a generation of successful founders and VCs with the realization that all of their talent was in creating a company during the bull market.". I would add: "and tweeting all day".