yep. this is right. i get stuck at this point as well.

softbank is the ultimate yen carry trade

productive in terms of making a good or service.

sort of matters. if they give you yield then they are doing something productive. in this case they are doing nothing but investing your money in bitcoin

The only caveat is it's not yield it is return of capital --> you give them 100% they give you back 10% slowly

silicon valley spent too much time lobbying against natural gas and coal and supporting solar that they now have no energy

any multiple to net asset value implies that in the future they will grow into that valuation.

mnav - 1.25 means 25% growth in bitcoin holdings

that is increasingly impossible and that is why mnav will always trend toward 1 or at most 1.1

so expensive they only made one

gas cars do not have their fuel source molded to the frame. that is why they don't depreciate as fast

seems like the approach is to force domestic reliance since the market is pushing the opposite way due to currency imbalances.

yeah i don't know much about the costs of these trucks but i can only imagine the imported ones were cheaper otherwise they wouldn't be out competing the local companies --this will only increase prices in the short term.

am i wrong in my math? paying a 25% premium means an expectation that you think you will get back 25% at some future date?