[danielvf]

As someone who has worked for years in crypto, the tweet reads as very late to catching up with things.

After the repeated huge insolvencies of the last few months, everyone in crypto knows there's massive systemic risk, and new risk from ill thought out new regulation. Everyone has their own list of which companies they guess will be next.

It's very hard to take the tweet seriously. It's like walking around in the California hills predicting a forest fire, during a super dry summer, while orange glows from nearby hills light up the smoke that is choking the air, and ash rains down.

[weare138]

It's very hard to take the tweet seriously. It's like walking around in the California hills predicting a forest fire, during a super dry summer, while orange glows from nearby hills light up the smoke that is choking the air, and ash rains down.

So you're saying it's not something that's going to happen in the future but instead happening right now? Well that's reassuring.

[danielvf]

Oh, the tweet is certainly true. There is systematic risk.

I think the humor comes from the tweet being phrased as secret insider knowledge, when it's something that has already been happening, and obvious to anyone watching.

(I tend to enjoy both PG's writing and tweets, but this one is a bit of an outlier.)