10 things learnt from James show with Omid.
1. WorldCom was biggest corporate scandal in history.
2. Financial Innovation happens only after the initial companies built around hype gets cleared up and it is costly.
3. Sequoia, Singaporean Sovereign Wealth Fund must have done due diligence before putting any money in FTX.
FTX business was so complex that funds of players like sequoia, SSWF got tanked.
4. Madoff business was so big and was built around his identity. Investors were aware about something being shady but they never thought it to be a ponzi scheme.
5. John Law initial efforts resulted in Mississippi bubble, which was making everybody rich.
6. A lot of capital in crypto is biased. Institutions are betting more on startups built around crypto than bitcoin itself.
7. Coinbase being a listed public company has to face a lot more regulation than a normal or unregulated crypto company.
8. NFT is a good way to assign property rights to any kind of intangible assets.
9. You can tokenize the future earnings of anything like tokenizing 10% of Avengers future cash flows.
10. Starbucks is generating its own token for Starbucks Rewards on polygon chain which again is built over Ethereum network.
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