Menu
Sign In Search Podcasts Libraries Charts People & Topics Add Podcast API Blog Pricing

Ryan Sean Adams

๐Ÿ‘ค Speaker
4484 total appearances

Appearances Over Time

Podcast Appearances

Bankless
The $200 Billion Shadow Market Behind Anthropic's Stock | Dio Casares

Yeah.

Bankless
The $200 Billion Shadow Market Behind Anthropic's Stock | Dio Casares

The worry is that, like, there are people maybe doing their best intentions.

Bankless
The $200 Billion Shadow Market Behind Anthropic's Stock | Dio Casares

Maybe they fucked up and they bought fraudulent shares.

Bankless
The $200 Billion Shadow Market Behind Anthropic's Stock | Dio Casares

But why would they still have people's money if they bought fraudulent shares?

Bankless
The $200 Billion Shadow Market Behind Anthropic's Stock | Dio Casares

Because it's their vehicle.

Bankless
The $200 Billion Shadow Market Behind Anthropic's Stock | Dio Casares

Right.

Bankless
The $200 Billion Shadow Market Behind Anthropic's Stock | Dio Casares

So the way to make a mistake was that you take money from friends and family, you raise an SPV, it has money in it.

Bankless
The $200 Billion Shadow Market Behind Anthropic's Stock | Dio Casares

You have some other promise from somebody else that they're going to sell you shares.

Bankless
The $200 Billion Shadow Market Behind Anthropic's Stock | Dio Casares

And then you're like, okay, great.

Bankless
The $200 Billion Shadow Market Behind Anthropic's Stock | Dio Casares

And then you can do one or two things.

Bankless
The $200 Billion Shadow Market Behind Anthropic's Stock | Dio Casares

You can do nothing and the money stays in the SPV because that's what should happen as you wait for your shares.

Bankless
The $200 Billion Shadow Market Behind Anthropic's Stock | Dio Casares

Or you are counting your chickens before they hatch.

Bankless
The $200 Billion Shadow Market Behind Anthropic's Stock | Dio Casares

And you're like, sick, I just made a boatload of money.

Bankless
The $200 Billion Shadow Market Behind Anthropic's Stock | Dio Casares

Let me go buy a house.

Bankless
The $200 Billion Shadow Market Behind Anthropic's Stock | Dio Casares

Yeah.

Bankless
The $200 Billion Shadow Market Behind Anthropic's Stock | Dio Casares

Or something, anything, buy a Porsche, whatever.

Bankless
The $200 Billion Shadow Market Behind Anthropic's Stock | Dio Casares

And then the day comes and you didn't account for the fact that you didn't actually get the shares.

Bankless
The $200 Billion Shadow Market Behind Anthropic's Stock | Dio Casares

Now you don't have the shares to pass back, but you spent all the money and that's the trouble.

Bankless
The $200 Billion Shadow Market Behind Anthropic's Stock | Dio Casares

Exactly.

Bankless
The $200 Billion Shadow Market Behind Anthropic's Stock | Dio Casares

Okay, that's wild.