On: Helium has revenues of $6.5k/month after $365M inv...

[lordnacho]

Moelis advise on M&A though. They get fees from companies doing steps with each other, which they do in both good times and bad (aka restructuring). I didn't think it meant Moelis was investing in those companies.

It's like a lawyer getting into crypto, they do contracts for the companies, they're not buying tokens for themselves.

[mr_gibbins → lordnacho]

The ones who made fortunes during the American gold rush were the people selling shovels, not the ones panning for gold.

[SnowHill9902 → mr_gibbins]

Correction: all of those selling shovels, a few of those who found gold. It’s different distributions.

[oblio → SnowHill9902]

True, which is even more relevant for something like blockchain techs, which are basically bets.

[thematrixturtle → mr_gibbins]

Unfortunately in the crypto winter, crypto shovel sellers like Coinbase are doing quite badly as well.

[bobnamob → thematrixturtle]

I think you need to go a layer or two deeper to find the shovel vendors, maybe those selling compute?

[Someone → bobnamob]

Nvidia and AMD sold quite a few GPUs to crypto miners.

[Strom → Someone]

It seems that they also bet on the hypetrain lasting longer. They are now trying to cancel some of their TSMC orders. [1] They'll probably end up with a juicy profit overall anyway, but perhaps the more clear shovel sellers here are foundries like TSMC and Samsung.

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[1] https://videocardz.com/newz/nvidia-reportedly-wants-to-cut-t...

[IgorPartola → Strom]

Clear winner is energy companies who sell electricity to miners :(

[xchaotic → IgorPartola]

Investing into an illegally tapped coal power plant in Mongolia is about as safe an investment as investment in crypto itself.

[thematrixturtle → bobnamob]

People using stolen credentials to mine crypto on cloud GPUs is a huge hassle/financial loss for cloud vendors.

[stonith → bobnamob]

NVIDIA seem to have done pretty well out of it.