Insight certainty 4/5 debate potential 3/5

Haque: Founders build crypto casinos for cash distribution, not for acquisitions

Ishan Haque · Wait, My Intern Became a 21-Year-Old Millionaire?? (#510) · Oct 20, 2023 · at 52:48

Ishan Haque, co-founder of crypto casino Shuffle, explains why crypto casinos cannot rely on standard startup acquisition exits.

0:00 / 0:11exact quote · 11.5s
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“We all went into it knowing that no one's going to buy a crypto casino. You build it to make a lot of money and then, you know, strip the money out and pay it out to all the holders of the business.”

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More from Ishan Haque

Disclosure
Haque put his entire net worth into a leveraged Bitcoin long
“I grabbed all the money I had. It was a couple of thousand dollars and I, well, I didn't just buy Bitcoin. I was like, the degenerate in me, I was like, okay, let me try and maximize this opportunity. So I went on, people know BitMEX. I went leverage long on B…”
Ishan Haque Oct 20, 2023 ▶ 17:19 Wait, My Intern Became a 21-Year-Old Millionaire?? (#510)
Disclosure
Haque invested his $100K net worth into delisted Animoca Brands shares
“I put everything I had is about a hundred K that I just like, ah, this should work at it.”
Ishan Haque Oct 20, 2023 ▶ 28:51 Wait, My Intern Became a 21-Year-Old Millionaire?? (#510)
Assertion Supported
Haque: Animoca Brands is planning an IPO
“Otherwise you know, they have plans to list into an IPO.”
Ishan Haque Oct 20, 2023 ▶ 33:26 Wait, My Intern Became a 21-Year-Old Millionaire?? (#510)
Prediction Not checkable as stated
Haque: Animoca Brands could reach a $100B–$300B valuation within 20 years
“I still see a pathway where, like, in the next 20, 20, 30 years, whatever, this is, like, A 102 103 hundred billion dollar company or whatever. And it's like, I have, I've got a pretty decent, you know, stake in that.”
Ishan Haque Oct 20, 2023 ▶ 35:21 Wait, My Intern Became a 21-Year-Old Millionaire?? (#510)
Assertion Contradicted
Crypto casino Stake generated $1 billion in annual net profit
“Stakers, you know, they just did a billion dollars in net profit in a, you know, a single year.”
Ishan Haque Oct 20, 2023 ▶ 43:54 Wait, My Intern Became a 21-Year-Old Millionaire?? (#510)
Prediction Open · timeframe Oct 2028
Haque: Next crypto cycle will see 1-3 casino tokens in top 20
“We all agree that in this like next cycle, whenever it is, could be five years down the line, who knows, but in the next cycle for crypto we believe that there will be one, two or three casinos in the top 20 of all the coins, and that's billions of dollars of …”
Ishan Haque Oct 20, 2023 ▶ 49:08 Wait, My Intern Became a 21-Year-Old Millionaire?? (#510)
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