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A comment on FTX Implodes, and a Top VC Backer Falls on Its Face.

Re:FTX Implodes, and a Top VC Backer Falls on Its Face by ChaitanyaSai on Monday November 14, 2022 @11:34PM (#33605331)
As ridiculous as that article was, the deletion is worse. Decentralized write-only communication that "cannot" be deleted is foundational to establishing trust in the crypto space (at least as it was originally envisoned). How does one claim to empower change for the good by backing projects in this space, and yet try and make something vanish if it shows them in a bad light? If anything, this should go right at the top of an anti-portfolio as a counter-balance when business cycles are inevitably looping back into insanity territory.

https://web.archive.org/web/20221027181005/https://www.sequo... (linking it here because this deserves to be preserved as a cautionary tale in our collective memory)

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Re:FTX Implodes, and a Top VC Backer Falls on Its Face by notatoad on Tuesday November 15, 2022 @12:21AM (#33605612)
We don’t need decentralized write-only communication. People have memories and reputation have power, and technical solutions aren’t going to change that.

What the crypto folks need to do to gain trust is stop behaving as though a lack of decentralized write-only communication means they can say whatever they want and nobody will remember the times they were wildly wrong.

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Re:FTX Implodes, and a Top VC Backer Falls on Its Face by cl0ckt0wer on Tuesday November 15, 2022 @12:34AM (#33605689)
Wouldn't a real newspaper fulfill the "decentralized, write-only" model?
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Re:FTX Implodes, and a Top VC Backer Falls on Its Face by ChaitanyaSai on Tuesday November 15, 2022 @12:52AM (#33605787)
Even if entirely objective in the presentation of "just the facts", merely through the act of curation (what is noteworthy enough to appear in the paper), we make memory selective, and therefore biased. Interesting that real newspapers did serve as "proof of date" until very recently but generative AI might puncture that.
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Re:FTX Implodes, and a Top VC Backer Falls on Its Face by cl0ckt0wer on Tuesday November 15, 2022 @12:12PM (#33611989)
There needs to be some sort of curation or else you run out of paper.
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Re:FTX Implodes, and a Top VC Backer Falls on Its Face by pdntspa on Tuesday November 15, 2022 @01:04AM (#33605851)
But Sequoia Capital isn't a newspaper. They are not under any obligation to retain puff pieces on their investments. Arguing that there should be a "write-only" register (aka blockchain) is arguing that anything written in the space, ever, should be immortalized on it. Which doesn't seem like a great idea to me.

As other comments point out, the Print Screen key, "Save to PDF", and archive.org are all you really need.

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Re:FTX Implodes, and a Top VC Backer Falls on Its Face by ChaitanyaSai on Tuesday November 15, 2022 @01:19AM (#33605910)
They have every right to delete the puff piece. Saying that the deletion punctures their credibility and posturing significantly more than the article itself. Things will go south in some high-risk venture investments. Owning up to the mistakes at least messages that there is learning. Would be interesting to see other VCs take on this.
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Re:FTX Implodes, and a Top VC Backer Falls on Its Face by scott_w on Tuesday November 15, 2022 @01:26AM (#33605951)
I don’t think the parent is arguing for a blockchain one journalism, just that outlets claiming to be “news” should own their mistakes if they want to retain credibility.
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Re:FTX Implodes, and a Top VC Backer Falls on Its Face by pdntspa on Tuesday November 15, 2022 @01:40AM (#33606026)
I think GGP is conflating "we commissioned an article from an established journalist" with the article being "news". Adtorials, or whatever they're called, have been quite the thing lately and I don't see how this is any different, except inverted.
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Re:FTX Implodes, and a Top VC Backer Falls on Its Face by scott_w on Tuesday November 15, 2022 @04:34PM (#33615347)
You’re right, it’s not a news agency, however it is masquerading as one to try and increase their legitimacy. It’s reasonable to criticise their behaviour.
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