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0 pointsgruez2y ago0 comments

>If you destroyed it, that was your choice, but you didn't thereby incur a loss of $30M. Any more than if you had dynamited your HQ building.

Where's the line between "dynamited your HQ building" and "investing money into FTX"? Both are intentional activities that leads to total loss of value, but I think most people would agree that the latter is tax deductible.

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antasvara2y ago

Did your investment of money in FTX cause it to fail? Because that's what destroying a building is: an intentional choice by a company to destroy an asset that it owns.

gruezOP2y ago

What about "destroying all copies of the movie except one, then moving that onto a sd card you got off aliexpress"? Sure, that's a pretty dumb thing to do, but arguably so was investing into FTX.

antasvara2y ago

There are legal definitions of negligence. IANAL, but I'd imagine that what you're describing would meet those definitions.

Investment decisions aren't as easy to diagnose because there's a chance of upside. If FTX didn't end up as a scam, you stand to gain a LOT of money. The same can't be said of putting your only copy of a movie on a crappy SD card.

In addition, you could make the argument that the chances of FTX being a scam were priced in. That is, you're buying stock that accounts for the scam chances.

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0 pointsgruez2y ago0 comments

>If you destroyed it, that was your choice, but you didn't thereby incur a loss of $30M. Any more than if you had dynamited your HQ building.

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antasvara2y ago

Did your investment of money in FTX cause it to fail? Because that's what destroying a building is: an intentional choice by a company to destroy an asset that it owns.

gruezOP2y ago

What about "destroying all copies of the movie except one, then moving that onto a sd card you got off aliexpress"? Sure, that's a pretty dumb thing to do, but arguably so was investing into FTX.

antasvara2y ago

There are legal definitions of negligence. IANAL, but I'd imagine that what you're describing would meet those definitions.

In addition, you could make the argument that the chances of FTX being a scam were priced in. That is, you're buying stock that accounts for the scam chances.

j / k navigate · click thread line to collapse