Eisenberg sent the price of MNGO tokens up, then withdrew $110 million in crypto. He did not testify.
His defense pointed out the was permitted by the crypto’s code. Turns out code isn’t law!
“No journalist is going to catch Swift in her sweatpants backstage and write about it.” I loved this profile of Tree Paine, perhaps the most influential celebrity publicist in the game.
Though Truth Social has lost $3.5 billion in value, its shareholders say they aren’t worried. “This isn’t just another stock to me. … I feel like it was God Almighty that put it in my lap,” says Jerry Dean McLain, who’s invested “$25,000 — pretty much his ‘whole nest egg.’”
[The Washington Post]
Investor funding for AI startups fell for a second year, according to Stanford. Sounds like the reckoning is here!
Several things could be in play: recognition of AI’s challenges, less spending on expensive foundation models, and “the rapid rise and fall of certain marquee name startups in AI.” 👀
The accounting is “more of an art than a science,” anonymous sources tell Bloomberg. But on an operational and ongoing basis? No, not profitable, according to those sources.
Previously, The Wall Street Journal reported Starlink fell short of expectations in 2022. Hm!
Here’s a profile of the guy who created the long-running website where people make visual confessions. Twenty years in, it’s still going — and this profile reveals the surprising religious roots of Frank Warren’s community art project.
[Hazlitt]