Fri. 11/19 – ConstitutionDAO Lost The Auction For The Constitution.
Tech Brew Ride Home
Amalgamated Internets, LLC
4.7 • 1K Ratings
🗓️ 19 November 2021
⏱️ 21 minutes
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| 0:00.0 | Welcome to the Tech Mem Right Home for Friday, November 19th, 2021. I'm Brian McCullough today. |
| 0:09.0 | Constitution Dow lost the auction for the Constitution, but it was really all about the friends we made along the way, right? |
| 0:15.0 | More Apple car rumors, Xbox and PlayStation have harsh words for Activision Blizzard. |
| 0:20.0 | Everyone wants in on crypto exchanges, and of course, the weekend long read suggestions. |
| 0:25.0 | Here's what you miss today in the world of tech. |
| 0:31.0 | Well, they didn't pull it off after all. |
| 0:35.0 | Constitution Dow lost the Sotheby's U.S. Constitution auction last night to an undisclosed |
| 0:40.6 | winners' 43.2 million bid after the Dow crowdfunded a total of about $40 million, quoting |
| 0:49.8 | Forbes. |
| 0:50.8 | Constitution Dow set a goal of $20 million, the high end of what Sotheby's had originally |
| 0:55.0 | estimated the document could fetch. |
| 0:57.2 | By Tuesday, it had raised $5 million and a day later over $40 million. |
| 1:01.6 | It's not clear how much the group eventually raised or why it wasn't able |
| 1:04.6 | to surpass the winning bid. The Constitution's previous owner, Dorothy Goldman, plans to |
| 1:09.6 | donate the proceeds from the sale to her foundation which supports constitutional |
| 1:13.3 | loss study. She should be pleased the transaction represents a 24,700 |
| 1:19.4 | percent return on the $165,000 her husband, real estate developer S Howard Goldman, paid for the Constitution in 1988." |
| 1:27.0 | So my question is, was the key flaw here that they revealed or at least hinted at exactly how much money they raised and thus had to spend. |
| 1:38.6 | That's sort of breaking the golden rule of an auction, right? You don't want others to know what your limit is. |
| 1:46.2 | I actually watched the whole thing live and as soon as it hit that $40 million mark you could |
| 1:49.8 | see on the face of the lady on the phone that they probably weren't going to go any further. |
| 1:54.8 | Still you got to admit given that all this came together in just a week, what this community |
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