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Crypto is down. Way down. Emotionally at least. Bitcoin still holding above $25k. Meanwhile, Coinbase posting their lowest spot-trading volume since the 2021 IPO.
It doesn’t help that headlines around the Sam Bankman-Fried (SBF) case are laughably dismal. Fake accounting. Bribing Chinese officials. Everyone pointing the finger back at Sam. On the other side of the issue, your favorite finance writer - the same guy that brought us Moneyball, The Big Short, and Flash Boys - doesn’t seem to get it. Is Michael Lewis SBF’s last friend? I don’t know how to feel, but it’s not good…
No Honor Among Thieves - SBF trial keeps getting uglier.
Epic Games Research - Get smart on Epic. Auction closes Tuesday.
IRL For NYC Tech Week - LP? Apply here for an exclusive happy hour.
Is SBF going to jail or what? Feels like this is taking forever. That being said, definitely a fan of due process and it seems like things are trending in the right direction. Here are some recent headlines to check out:
Can Someone Lose Track of Billions of Dollars? Sam Bankman-Fried’s Jury Will Decide - Wall Street Journal (lol)
Michael Lewis Is Buying What Sam Bankman-Fried Is Selling - The Atlantic
Most recently the story has shifted with his inner-circle pointing the finger at him as the sole evil-genius behind the fraud. Similar to any other sentence that includes genius and SBF in the same breath - be weary.
In some ways they’re running the same playbook as they did when they were raising money. When asked hard questions just point at Sam and let his mysterious crazy professor look work its magic.
We’re excited to bring Epic Games to the Sandhill Auction format. Below are some helpful links to get smart on Epic before you place your bids. The auction will end at Noon PST on Tuesday, October 17th. Be sure to tune in one hour before to catch the Sandhill team live-streaming the close from NYC. Ali might even bring a gavel…
The current price on Sandhill is $300 (up from $200 yesterday) and it’s set to be an exciting close on Tuesday. Don’t miss it!
You do not need to be a Sandhill member to participate. All accredited investors are welcome.
Fun fact: This is an actual picture of where the happy hour will be.
This coming Tuesday, October 17th @ 5pm we will be hosting a small group of LPs at SpringPlace in NYC for drinks and light bites. We have already extended the invitation to our most active LPs and hope to add to that group in an effort learn more about how we can make Sandhill a better experience.
If you’re an active investor who’s been thinking about about investing with us or you’ve already dipped your toes, but haven’t really gotten comfortable with the process - we would love to hear from you.
We have very limited availability so please include a note with quick context on your interest in attending.