Terra UST stablecoin unpegged with Bennett Tomlin + High growth tech’s runway: $COIN, $SQ, $ZM, $TWLO, $SHOP & $PTON | E1456

This Week in Startups

Jason Calacanis

Technology

4.4 • 1.3K Ratings

🗓️ 11 May 2022

⏱️ 98 minutes

🔗️ Recording | iTunes | RSS

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Summary

First, crypto reporter Bennett Tomlin joins to break down the the massive decline of algorithmic stablecoin Terra USD (UST) and how the Terra-Luna ecosystem works (09:00). Then we recap five tech stocks that are down at least 70% off mid-COVID peaks Coinbase, Shopify, Twilio, Zoom and Block (44:44). We briefly touch of Elon’s comments about reducing permanent bans on Twitter (1:05:48). Wrap with Peloton’s painful earnings (1:22:53).

(00:00) Jason and Molly tee up today’s topics
(02:54) Jason and Molly talk a little bit about bitcoin and the stock market tanking
(09:00) Bennett Tomlin joins to discuss what’s going on with stable coins: LUNA, Tether, etc.
(14:10) Indochino - Get $50 off any purchase of $399 or more by using code TWIST at checkout https://www.indochino.com
(15:17) Can you buy 60 cents of LUNA to get a dollar worth of Terra? Are algorithmic stable coins destined to collapse?
(22:09) Vanta - Get $1,000 off automating your SOC 2 at https://vanta.com/twist
(23:19) Discussing LFG Reserve balance over time
(31:00) Assure - To get 20% off your first Special Purpose Vehicle (SPV) visit https://Assure.co/twist
(32:11) Different types of stable coins, & how much damage will the past few weeks do to the idea of algorithmic stablecoins?
(44:44) Jason and Molly on the bitcoin crash and major tech stock wipeouts
(50:10) Coinbase
(53:20) Shopify
(57:00) Twilio
(1:00:40) Zoom
(1:03:11) Square (Block Inc)
(1:05:48) Breaking News: Elon Musk says “I guess I would” reverse Trump Twitter ban
(1:22:53 )Peloton stock down 93% from pandemic high

FOLLOW Bennett: https://twitter.com/bennetttomlin
FOLLOW Jason: https://linktr.ee/calacanis
FOLLOW Molly: https://twitter.com/mollywood

Transcript

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0:00.0	Okay, everybody, it is a big, big Tuesday.
0:03.4	We're climbing up the mountain.
0:04.6	This is the steepest part of the week.
0:06.4	It's a big financial news show for you today.
0:08.3	It just tons of data and tons of lessons, Molly.
0:10.9	Yeah, it's a mini MBA in a podcast box is what it is.
0:15.0	First, we have crypto expert, Bennett Tomlin,
0:17.4	to break down what in the holy blazes is going on
0:20.8	with Terra and UST.
0:23.7	And Luna, this whole thing that missed the peg,
0:26.6	something's going on.
0:27.8	Bennett is just an amazing expert.
0:29.8	And we talk about these stable coins,
0:31.9	specifically algorithmic ones,
0:33.2	and maybe this is the end of it,
0:34.3	and maybe regulation needs to come and tighten this up.
0:37.2	Yeah.
0:38.1	And then we're going to do,
0:39.4	if you've been watching Moon Knight,
0:42.4	we're going to be like Amit.
0:43.6	We're going to weigh the hearts,
0:46.6	weigh the souls of some tech companies right now,
	...

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