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Tech Brew Ride Home

Fri. 11/19 – ConstitutionDAO Lost The Auction For The Constitution.

Tech Brew Ride Home

Amalgamated Internets, LLC

Tech News, News, Technology

4.71K Ratings

🗓️ 19 November 2021

⏱️ 21 minutes

🧾️ Download transcript

Summary

ConstitutionDAO lost the auction for the Constitution. But it was really about the friends we made along the way, right? More Apple Car rumors. Xbox and PlayStation have harsh words for Activision Blizzard. Everyone wants in on crypto exchanges. And of course, the weekend longreads suggestions. Sponsors: Tovala.com/ride FindYourFidelity.com Links: Crypto Investors Lose Out In $43.2 Million Sale Of Rare Copy Of U.S. Constitution (Forbes) Apple Accelerates Work on Car Project, Aiming for Fully Autonomous Vehicle (Bloomberg) Xbox Chief Says He’s Evaluating Relationship With Activision (Bloomberg) Gemini Raises $400 Million To Build A Metaverse Outside Facebook’s Walled Garden (Forbes) Weekend Longreads Suggestions: The most influential man on the internet (ReadMax) Visions of a U.S. Computer Chip Boom Have Cities Hustling (NYTimes) The Video Game History Book I Mentioned GAMECUBE AT 20: NINTENDO INSIDERS ON THE FAILED CONSOLE THAT CHANGED THE INDUSTRY (Video Games Chronicle) How Xbox outgrew the console: inside Phil Spencer’s multi-billion dollar gamble (GQ) Who Knows Anthony Bourdain? (Eater) Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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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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