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- Irish markets.
- ISE = Irish Stock Exchange. Euronext Dublin and Euronext Growth. ASM = Atlantic Securities Market.
- Cayman Islands.
- Leading offshore jurisdiction to form mutual+private+hedge funds.
- CSX = Cayman Islands Stock Exchange.
- Regulated by CIMA = Cayman Islands Monetary Authority.
- No corporate tax on money earned outside of the cayman islands.
- Lots of multinational corporations have their subsidiaries based there as a tax haven.
- Sidenote – residents of the cayman islands have no income tax, no property tax, no cap gains, more.
- Their govt gets most money from duty fees on imports. Offshore corps also pay an annual licensing fee.
- Economic Interest vs Ownership Interest (Equity Interest).
- A standard loan is perfected when the lender has a security interest on the pledged collateral (eg a certificated stock).
- When the vehicle is an LLC, it’s more complicated. Might not be certificated, might have a conflicting operating agreement, etc. In these cases, a UCC-1 is most commonly filed to perfect the interest.
- The explicit difference: an ownership interest is when you have a lien on the equity itself. You may claim the shares. They’re yours to possess. An economic interest is a profit share: you get the dividends, revenue, interest, distributions, yield, whatever is produced from the equity but not ownership of the equity itself. It’s like being an investor in the LLC instead of being the owner.
- An economic interest can be converted to an equity interest (think: the lender gets full ownership of the shares at IPO).
- Investment Company Act of 1940.
- Response to 1929 stock market crash. Updated by dodd-frank in 2010.
- Primarily defines the SEC regulation of mutual funds.
- Practically: Defines what sorts of disclosures and filings that investment companies must publish, protecting the public and ensuring proper enterprise.
- Policies, penalties, rules around shorting, lots of contents. Short summary: you don’t want to qualify as a mutual fund.
- Bridge loan, remember: existing investors extend a bit more runway before the next round.
- Connected accounts for Mahlstedt LLC.
- >10 calls for the startup, lots of productive work today.
- Eth merge.
- Sept 15. PoW -> PoS. Reduce power reqs by about 2 orders of magnitude.
- Merging the existing chain with the beacon chain for golive. PoW nodes will still run, with increasing transaction times to organically sunset that network.
- TPS from ~15 to thousands.
- Eth value itself projected to increase on success, of course. Lots of ESG-focused minds will approve. Easiest way to gain exposure is just increase eth holdings.
- Other ways to piggyback:
- Since staking is now possible, liquid staking protocols will see a lot more activity. Lido, for example – LDO should rise.
- Borrow rates will increase substantially. So depositors in lending pools will see increased interest yield. Supply these. Or just hold something like AAVE for general lending sentiment.
- There are lots of trash articles out there. This one is pretty good: https://newsletter.banklesshq.com/p/ethereum-merge-investing-strategy-eth
