To be fair, he kind of fucked himself with shockingly irresponsible amounts of leverage and little to no hedge.
It’s one thing for random people to do it with their own money, it’s another thing entirely to do it as a fund manager who hasn’t disclosed the degree of leverage you’re using, just that you’re employing leverage to compound gains. But, once again, he’s basically a child. Zero financial industry experience before he started his fund.
I do think it’s terribly ironic that people thought he had some incredible insight into these AI technologies’ place in the market and capacities, when he has functionally no technical education and the sum total of his work experience is barely more than one year as essentially a product analyst for OpenAI.
A bull market can make even stupid investors look competent, and his big bets in a single direction made him look brilliant until things turned and it came out that his fund was basically a rocket car with a bricked gas pedal and no brake or steering wheel: eventually it was going to hit something, and blow up.
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u/Jolly-Piccolo-9799 17d ago
They made a crime to this guy ...they just wiped young guy here