FULLSTACK WEEKLY 7.13.22
FULLSTACK WEEKLY 7.13.22
💎 Its All Going to Zero, 3AC on the Run, MixMob Pod, and More.💎
🦍 Apes of Doom
👟 3AC on the Run
👾 MixMob Interview
👜 New Layer 1: SUI
🆘 Uprise: Down Bad
📈 What We’re Watching
💰 Raises
😭Tweet of the Week
7 Min Read
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Apes of Doom
Films in the 70’s are famous for their cynicism, the themes of the classics surely stem from the environment at the time which I summarize as the “Death of the Utopian Dream.” Hell’s Angels had killed a couple of people at a love and peace festival, feral communes across the country had descended into chaos, Charles Mason was roaming free, and Doctor King was assassinated, it was kind of a dark time.
If you have ever seen the second Planet of the Apes with Charlton Heston, you know in the end Charlton takes a look at the world and say’s, “Eh, not worth it,” he then presses the red button and detonates the nuke. The scene cuts to a wide shot of the earth vaporizing while a voice-over says, “An insignificant planet has died.” Big downer.
As much as I love the grainy style, and woozy synths, the nihilistic undercurrent in all the apocalyptic films is what’s most fascinating. Why would people pay to watch the world, their world, being destroyed over and over? There are many theories, but my personal theory is that Human beings innately long for apocalypse, it’s built into us, even if we can’t articulate why, we know there is something truthful in it. The Japanese novelist Haruki Murakami once said, “Everyone deep in their hearts is waiting for the end of the world to come.”
This my friends, brings me to our point. CPI data (which is lagging) printed 9.1% today, this gives the Fed the utmost motivation to vaporize our portfolios.
Our own Planet of the Apes (Crypto Twitter) is calling for the apocalypse, the halls ring with “it’s over,” “it’s going to zero,” “we are all poor again.” Some of that might be true, but allow me to be the microscopic beacon of hope within the heart of darkness.
On December 29th, 2008 Russian Professor Igor Panarin was published on the front page of The Wall Street Journal saying,
Around the end of June 2010, or early July, [Panarin] says, the U.S. will break into six pieces-with Alaska reverting to Russian control….California will form the nucleus of what he calls “The Californian Republic,” and will be part of China or under Chinese influence. Texas will be the heart of “The Texas republic,” a cluster of states that will go to Mexico or fall under Mexican influence. Washington, D.C., and New York will be part of the “Atlantic America” that may join the European Union. Canada will grab a group of northern states Prof. Panarin calls “The Central North American Republic.” Hawaii, he suggests, will be a protectorate of Japan or China, and Alaska will be subsumed into Russia.
This was on the front page of The Journal! Ummm lolz.
Ok, this section is getting out of hand so I will wrap it up. The point here is the “constant drumbeat of pessimism usually downs out any triumphalist song.” If you say the world is getting better you may get called naïve or insensitive, but if you call for doom you are hailed a genius and given a Nobel prize. We don’t have time to go into detail but look at the history of financial crises, we are all still here aren’t we?
Well, not all of us, which brings me to the next section. 👇
3AC is MIA
Do you not know there comes a midnight hour when everyone has to throw off his mask, do you believe that life will always let itself be mocked, do you think you can slip away a little before midnight in order to avoid this or are you not terrified by it. -Søren Kierkegaard
Lawyers representing the creditors say the physical whereabouts of Zhu Su and Kyle Davies are at the moment unknown. It will be interesting to see how this plays out, looking forward to the Netflix rendition.
MixMob Interview
Last week we had a chance to speak with one of the co-founders of Mixmob, Pavel Baines. He has some really interesting takes on the crypto gaming space and where he thinks the industry is headed. He also gave us an inside look into what MixMob is and how to play.
Full Interview 👇
A Layer 1 to Watch
The SUI blockchain consists of a number of world-class engineers who previous worked on the Libra project at Facebook. The Layer 1 will compete with the likes of Solana and Ethereum, but boasts impressive tech with early tests displaying a MacBook pro running Sui being able to process over 120K token transfers per second.
The speed comes from SUIs ability to horizontally scale, meaning it processes transactions in parallel. Most blockchains transactions must be ordered and placed into a block and executed sequentially, one-after another. Sequential execution restricts speed of transactions.
SUI focuses on minimizing the communication that’s needed between validators to process transactions, making it really fast. The Layer 1 settles simple transfers immediately, while complex transactions are executed within 2-3 seconds.
It’s early, but SUI is looking extremely promising. We’ll see what the public mainnet has in store come later this year.
Uprise: Down Bad
It’s rumored that Korean startup, Uprise, lost 20M dollars attempting to short LUNA on its plummet.
How does one lose money shorting something that went to 0? lol
What We’re Watching
We are all worried about liquidity, and it seems like everyone is trying to make sure they get SOME money out. A lot of talk on the street has been anticipating earnings misses and a potential leg lower. At this point, we are all just waiting to see what the Fed does next. Although, with the new CPI print it’s looking like we are in for a .75bps+ hike which means even less liquidity for the foreseeable future.
RAISES
The crown this week, has to go to Multicoin who raised $430M for their 3rd venture fund. In this economy, that’s crazy!
The runner would be Animoca for completing their raise of $75M at a $8.2B valuation.
Tweet of the Week
As USD/EUR reaches parody we direct your attention to the greatest clown to ever do it. lol
Thank you for reading this edition of Fullstack Weekly, hopefully, we can keep you entertained during the bear market. We have some cool content planned and are working on amazing partnerships, so stay tuned.
Appreciate you all!