it would be hard to think of a more obvious example of #malinvestment than a bunch of companies rushing to turn themselves into vehicles to use borrowed money to buy bitcoin a la #MicroStrategy.

just in the past few weeks we've seen #HowardLutnick's sons launch one of these things with #Tether, MicroStrategy continuing to borrow and buy billions, #Metaplanet and Semler Scientific getting in on the action in a smaller way, this new David Bailey grift, and just yesterday the CEO of #Strive launched a plan to raid profitable companies with free cash and use their cash to buy bitcoin: https://x.com/thomas_fahrer/status/1920274883856249046

(we've even seen a logistics company announcing plans to borrow money to buy #TRUMP memecoins!)
https://www.theinformation.com/articles/david-bailey-advised-trump-crypto-plans-bitcoin-investing-firm

I'm not quite so smitten with the 1980's as David Bailey is , but I do love his picture here of Naomi Campbell.

‘The 1980s turned out to be magic’: David Bailey on the era of excess – in pictures | Art and design | The Guardian

https://www.theguardian.com/artanddesign/gallery/2025/mar/11/the-1980s-turned-out-to-be-magic-david-bailey-on-the-era-of-excess-in-pictures