On bullshit in investing

Gives a brilliant and very cynical description of the Ponzi nature of yield farming in DeFi. Shed some light on how it is no so different from startups nowadays that keeps raising more money despite net negative return, as long as they have a grand narrative with a big promised profit at the end.

I covered this in depth in my "How are the APRs so High?" article, but there are a few common sources of stablecoin yield:

This is typically the lowest and safest stablecoins yield. It's uncomplicated, you don't have to monkey with it, but it's also going to be quite low return. The benefit is you can set it and forget it. It's not based on giving away tokens you have to periodically sell to compound your earnings. It's not going to cost you a bunch of gas to get it se... See more