So you think the last 12 months have been crappy?

As we have seen, Elon Musk just won the price for the most personal value lost in a single year: over half his net worth, perhaps $200 billion.

But in other news, Zuckerberg lost 64%, around $80 billion while he fiddles with his gaming headset and his real moneymaker sinks slowly in the West.

Jeff Bezos is off a mere 43%, at $85 billion as Amazon got busy with voice assistants, delivery robots, self-driving cars, urgent care, retail stores and so on. And, of course, is now dabbling in the field of mass layoffs.

Champagne Zhongshan, CEO of Binance Holdings saw his bank account drop 87%, or $83 billion. That’s less, on a percentage basis, than Sam Bankman-Fried who is having a really bad day; many of them, I would guess.

Alex Mashiunsky, founder of Celsius, the bankrupt crypto lender and Do Keon creator of the failed currency Luna are totally upside down, and the latter is now an international fugitive.

Marc Andreesenn, one though an invincible technocrat is reduced to bloviating on social media; Sequoia Capital gave $150m to FTX, and Chantal Falihapitiya, famous for his string of SPAC deals, has seen most of them crash to half the IPO values.

And of course there’s the guy who is hawking NFT cards of himself as a superhero for $99 each. Quite a comedown for him, I would think.

So take a look at your portfolio, laden so heavy with that dull, stodgy clump of assets under the Berkshire umbrella, and don’t worry, be happy.


chamath palihapitiya, I know some Asian dude with weird spelling…

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Palihapitiya may have seen all those SPACs crash and burn, but he’s laughing all the way to the bank. First-class swindler!

There is a market for those instruments and he sold. I don’t think those companies are fraud but market conditions allowed him to take companies through SPAC with very high valuation and avoid paying the wall-street banks.


With this logic one would have done better than S&P stars in 2022 if they had kept their money under the pillow.

Right. I don’t think it was “fraud”, just that he leapt head-first into proving “a fool and his money are soon parted.”