But really not much read into it.

Clearly they had no idea what the meme meant,

just picked it because they thought it looked cool

probably can’t even comprehend the concept of memes having meaning at all

Exactly what you’d expect from the people who make it a thought crime to even look at real memes

🐻

Most surprising thing that crypto has shown

— Is how deep the drawdown is between peaks, for LEGIT things that will end up being massive, instead of fading to zero.

This kind of price movement was never apparent in early stage ventures prior to crypto.

Why?

In traditional startups, the “down” round was essentially suicide,

early-stage startups were strongly incentivized to never raise while in that trough where any raise would be at a lower valuation than the past round, and VCs strongly incentivized never to invest in startups at a lower valuation

Result — The deep trough between peaks dissapeared, as if no trough existed at all.

In crypto, no such effective anti-down-round provisions yet exist,

So we see between the peaks, even for completely legit things, the price goes way, way down.

Beware the fake deep troughs.