So it turns out that Base made $16.87M net income in... March 2024. Ofc they need to run the network, pay people their salaries, etc. but the number is pretty crazy. Also, the costs take a much smaller % of their revenue than in previous months, which is probably caused by the EIP-4844.
Don’t sell or buy on a market but be the market maker. 🤑
Warren Buffet talks about investing in your circle of competence, and I just want to point out how privileged we all are here, considering that we "just" read the very complicated financial details of a publicly traded company and can make assessments about it, right? Imagine doing this for Coca-Cola; looking at their numbers, I'd have no fucking clue whether the business does well or not. But here, considering that I'm intimately familiar with L2s and blockchain scaling, I have used the product; I even know Jesse; it seems so obvious that I have "alpha" over the average retail consumer investing in Coinbase stock. Clearly, they just added a new source of revenue and I understood that. That's so cool!
Yes indeed, that is a very good point.