Subscribe to this topicForums > General Investment Discussion > Topic: Heads up the wave has started
| May 13th 2008, 04:40 Gumby Roffo |
Heads up the wave has started
Edited by author May 13th 2008, 16:33 |
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| OK so this is a cross post from the LL forum.. Read it , take it with a grain of salt. But it indicates what the thoughts of ex or non investors are. interested on your thoughts! "http://forums.secondlife.com/showthread.php?t=258503" Edit: I did post it but it vanished somewhere. |
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| May 13th 2008, 17:33 Guardian Market |
Re: Heads up the wave has started | |
| Is this a surprise to anyone? I think the banking ban was a pretty big warning shot to the stock exchanges, and they really haven't gotten their act cleaned up since that time, at least not on a whole. | ||
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| May 14th 2008, 16:19 Arnaud Villota |
Re: Heads up the wave has started
Edited by author May 14th 2008, 16:22 |
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| I think the referenced post is by people who don't understand what we are all about. Frankly, I don't believe that the majority of us in the "financial community" don't really know what we are all about either anymore which is why LL will probably listen to posts like those referenced rather than the people actually involved in the day to day activity of trading and sweating, getting scared shitless, and getting screwed by scammers but still sticking with it; because we see some worth in this micro economy. That is what we will lose people! We will lose our economy and our ability to manipulate this little part of SL, the part that we have some control over. I will miss that when it happens. I will probably cash out and leave SL. What else is there? Sex? Boring. You see one naked avatar, you've seen them all. There really isn't any creativity in it either. Hmm maybe I am showing my age here...let's move on... :) I don't believe that the majority of us are in this to make a million bucks! I see CEOs like Lindsay put out a hell of a lot of personal USD money and her return is zilch. I see land owners like Zaldar Rhode who, in my opinion, runs the best damned estates in LL, make less than 150 USD/month, if that much, but still hangs in there. I don't agree with Bo or Arb on a lot of stuff, but I don't see them walking away laughing all the way to the bank. Sorry but the numbers just don't add up. A lot of other people like Warren Flannigan, Guardian, iVentures, Travis Ristow, Cocky Dagger, Ashleigh Wade, Yellow Paperclip, Danilez, Ima Janitor, Sando Haller, Cayman, etc., etc., etc..These folks are in it because they love it, not because they are going to make a ton of money. And yet, these folks who are trying to "play the game", trying to make something out of this horseshit economy are constantly barraged with crap! I for one am tired of it (and I admit I contributed part of it especially with my public disagreements with Bo over MECH and YEP. I don’t apologize for what I said, but maybe I could have been more creative rather than confrontational). I'm tired of seeing someone like Lindsay, who I have not really agreed with a whole hell of lot in the past, and yet worked for her for a few weeks, get a lot of grief from people whose only purpose in our environment it seems, is to denigrate. I grow tired of the constant whining in the forums. I grow tired of people automatically pegging someone as a scam artist because he hasn't showed up in a few weeks even though no money or assets are missing, and it is unlike him to just disappear without a good reason (Sully). I grow tired of seeing my portfolio going to shit because people are scared off from the markets because of all of the crap and whining! So maybe it is time for LL to step in, screw all of us and then we can watch birds and butterflies for the rest of our SL lives. Oh Joy! Hmmm, anybody want a hit off of what I'm smoking? lol! Sorry, I think this was a rant that was a long time coming. If we are to prevent LL from closing down our community we have to take positive action. I don't have any answers, but maybe we can direct this forum to come up with some positive answers to counteract the link posted. If LL doesn't hear the other side of the story in a place convenient to them (i.e. LL Forums) then they will go with what they think is the majority opinion, which in my opinion is the wrong opinion, just like the Banking decision which was justified due to the illogical returns offered, but crap in the way it was carried out. Is anyone willing to start the counter post on LL forums? Cash? Bo? Arb? Anyone else? I rule myself out, I wouldn't know what to say and if I said it, it probably would be politically incorrect. We need a diplomat for this not a rabble rouser. Peace. |
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| May 14th 2008, 18:00 Silverblade Dagger |
Re: Heads up the wave has started | |
| Arnaud, your post was very well said, and very much to the point, I applaud you! I think a large part of the problem with people being so anti-bank and etc is because there is a lack of basic understanding on how legitimate banks and financial structures work. Of course, the "once bitten, twice shy" effect is a good part of the equation too, and toss in a healthy amount of patience or "delayed gratification." When things are going good, no one really complains, but one speed bump in the road and people are ready to tear out your jugular and a stinky memento on your grave. Class envy might also be a bit of it, since everyone demonizes those who have more than others, no matter if they earned it legitimately or not. As for needing a diplomat on the matter, I would volunteer, however I see little use for it since people are going to be set in their opinions anyways. I definetly can see both sides of this coin, and can relate to the pro and con sides. What is really needed is education to at least teach people how money works. We need an almost insane amount of communication from the CEO end of things. We also need LL to not butt in on things since it's been proven that LL may mean well, but they can't pull anything off without shooting themselves, and anyone around them, in the foot. As for being politically incorrect, don't sweat it. Being PC means you have to have no spine, you have to dumb down your speech so that even an embryo can understand it, and it's lying but with prettier words. If people get offended, then they need to grow a pair, or at least borrow a set. Just tell things like it is, try to look at things from multiple angles, and use common sense. If other people can't bring themselves to understand, it's not because you didn't try since the failure would be their own. Look for the thinkers, the people who stop and use their heads, and don't waste time on the reactionaries who knee jerk to anything and everything. Honoris Causa... Silverblade Dagger |
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| May 14th 2008, 18:50 Bogart Beck |
Re: Heads up the wave has started | |
I'd volunteer Arnaud but everyone here already thinks I'm a rabble rouser and certainly Politically INCORRECT. I had an interesting but brief chat with Marc Attenborough this evening along the same lines - he'd be a great candidate (experience, composure, reputation, etc.) Marc? Thoughts? |
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| May 14th 2008, 19:03 Marc Attenborough |
Re: Heads up the wave has started | |
| I think the key issue is there are too many people speak without having a basic understanding how businesses should operate. They expand too quickly and underestimate the commitment required, they see L$ signs and get themselves stretched way too thin. I've created a thread about focusing on education seminars, I welcome feedback on this topic. |
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| May 15th 2008, 05:56 Ashleigh Wade |
Re: Heads up the wave has started
Edited by author May 15th 2008, 05:56 |
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| Kudos Arnaud. My thoughts exactly. And I'd love a hit lol :) | ||
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| May 15th 2008, 07:51 Sportsbets Writer |
Re: Heads up the wave has started
Edited by author May 15th 2008, 07:54 |
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| all like a "hit"? | ||
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| May 15th 2008, 08:56 Lindsay Druart |
Re: Heads up the wave has started | |
| I have started to pick away at that particular thread myself and I will continue to do so. I may not be the best person to do it but I guess I feel a bit obligated as a veteran to all of this being one of the first 25 companies to ever launch public during the SL stock exchange boom. There are a couple of key factors that need to be addressed but amist the other things I am tackling right now, I have conducted a bit of research worldwide with relation to it all for a sound rebuttal. | ||
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| May 16th 2008, 14:21 Delicious Demar |
Re: Heads up the wave has started | |
| Yeah... I was one of those first 25 as well - those were heady days - optimism and possibilities abounded. There was a core of great companies (of which Lindsay's was one) surrounded by a pack of wild dogs with dollar signs in their eyes. The latter WERE scammers, and took advantage of investors' gullibility to abscond with millions of Lindens. Out of the first 25 companies that listed back then, about 5 are still viable operations. Which actually, compared to RL, is pretty typical of new startups. But for many - the whole thing was predicated on greed and ignorance - they saw the opportunity to get a lot of cash, without any real framework for ensuring that they did anything with it. Many simply took it and ran. Others were simply incompetent and lost it all. Others got hit by the banking ban, and lost millions that way. There was a mix of bad luck, incompetence, and malfeasance that came together to produce a giant pile of shit for SL investors - who can really only stand by and throw their two Lindens into the discussion when the opportunity arises - because there are no other recourses worth mentioning. One of the most interesting things to me (and I am NOT casting aspersions on anyone here - I simply don't know them well enough) is that the financial whizzes and hotshots who knew a lot about RL financial markets, but not a lot about SL business fundamentals, are the ones that messed up. There seems to be a whole house of cards built on "investments" without any solid undercarriage. The companies that prospered, were the ones that may not have known a current asset from a rented mule at the beginning, but understood that to make money, you need to OFFER something to people - a product, a service, etc.... and they learned over time about the financial aspects. The whole SL financial sector has got things ass backward (mule backward??). They want a whole robust market without a solid business infrastructure - so we have more investment funds than we have companies with real assets and revenue streams. so just exactly what are they all investing in?? I would have a really hard time opposing a ban to exchanges in SL - there may be a couple that have tried to do things properly and have imposed SOME form of regulation on their companies in order to provide a level of security for investors. But unfortunately, we have all watched ancapex and the WSE for the last six months. Need I say more? Basically, the net result of stock exchanges so far has been to move Lindens from a lot of investors, to a few avatars - on a wing and a prayer - hoping that the avatars in question are ethical and won't bend them over an ATM and take them roughly. So, you all get painted with the same brush - for the greater good. Sure, some people are going to pay the price, even though they were pure of heart. Others are going to get what they deserve. Maybe that sounds a but harsh. But I figure that in my time investing in SL on exchanges and funds - i have probably lost 1.5m Lindens. All of it to people who have sounded great and took a powder. Now THAT is harsh. dd |
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