By Larry Chiang
Have you seen those signs, “We Buy Ugly Houses”? Real estate investors buy distressed property, fix it up and then sell it. It’s coming to crypto.
It’s coming to crypto because I brought it.
I first learned of this from an MIT media lab speaker when he was talking at Stanford Blockchain. Tadge brought up VertCoin (sp?). But then it occurred to me that purchasing turd and then repackaging it is what the credit industry’s all about. Ditto, private equity and what family offices do. We buy. We improve. We flip.
Thus, we buy houses is just version 1.0 of #ShitCoinTurnaround. Now, let’s explore the CLO maneuver where we get a free option. Think no money down asset arbitrage.
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Larry Chiang (@LarryChiang) |
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@Uncrypt_Vlad You honor, spotlight and help distribute my #ShitCoinTurnaround effort that is based on the genius of my three Bk (bankruptcy) & ABC [assignment for Benefit of Creditors] #cs183abc mentors. Gerri Detweiler, Marty Pitchison, pic.twitter.com/Fsdpxngh81
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Vladislav Ginzburg (@Uncrypt_Vlad) |
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#shitcointurnaround is the best phrase I’ve heard at #WCEF2018 so far. Coined by @LarryChiang twitter.com/LarryChiang/st…
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