Fate of “Free” Online Publishers: BuzzFeed’s Existential Crisis after its SPAC Merger by Wolf Richter • Dec 7, 2022 • 122 Comments It burned through most of its $700 million of investor cash. So now what?
New SPAC Stuff Keeps Imploding amid Shortage of “Consensual Hallucination,” as I Call it, But Now the Imploding is a Lot Faster by Wolf Richter • Dec 6, 2022 • 101 Comments I mean, like within hours and days, rather than weeks and months. But the SPAC sponsors want to make some money.
BlockFi, 8 Subsidiaries File for Bankruptcy: Smooth & Efficient Crypto Contagion Continues by Wolf Richter • Nov 28, 2022 • 167 Comments The price of consensual hallucination. Filing also lists $30 million SEC settlement, and huge amounts owed to unnamed “clients.”
Lose $1.7 billion on $519 Million in Revenue? Bitcoin Miner SPAC Core Scientific Shows How. Bankrupt a Year after Going Public? by Wolf Richter • Nov 23, 2022 • 151 Comments Consensual hallucination was required to pull this off.
Investor Purchases of Single-Family Houses Plunged 32% in Q3, Plummeting the Most in “Pandemic Boomtowns” by Wolf Richter • Nov 22, 2022 • 132 Comments “The prospect of substantial home-price declines puts them at risk of losing money.”
I Agree: Don’t Regulate Crypto, Let it Burn. Making Good Progress on its Own by Wolf Richter • Nov 21, 2022 • 350 Comments By letting it burn, it won’t get big enough to cause major contagion outside of crypto.
Where’s the Contagion from the Crypto Implosion? by Wolf Richter • Nov 16, 2022 • 109 Comments As the FTX collapse shows, the shenanigans guarantee smooth and efficient contagion inside the crypto zone. But beyond it?
Five-Digit Layoffs Are Here, the Big Ones We’ve Been Waiting for. But the Laid-Off People Are Scattered around the Globe by Wolf Richter • Nov 15, 2022 • 172 Comments Other companies are licking their chops at finally being able to hire tech workers.
THE WOLF STREET REPORT: Where’s the Contagion from the Crypto Implosion? by Wolf Richter • Nov 13, 2022 • 208 Comments As the FTX collapse shows, the shenanigans guarantee smooth and efficient contagion inside the crypto zone. But beyond it?
The Swiss National Bank Began Unloading its Biggest US Stock Holdings, incl. Apple, Microsoft, Amazon, Alphabet, Meta by Wolf Richter • Nov 11, 2022 • 154 Comments It still bought Tesla though, which is down by 52%. It took massive losses. And it’s got a bunch of Imploded Stocks.
