I watched the “bloodbath” in the crypto markets and the ongoing UST depeg with a sense of detachment.

I just can’t get worked up about it because my thesis about crypto hasn’t really changed and the biggest mistake I made in Internet 1.0 was not displaying enough patience, even though I was directionally correct.

If I’m wrong, so be it, but I’m certainly not going to be wrong for the same reason this time around.

As for Terra, well, ironically enough, I had read the previous Friday a great article ripping it to shreds called, Why I am Betting against TerraUSD

There are going to be many, many more of these types of moments along the way.

If you expect them, they aren’t a big deal…because you expected them.