New words, phrases, acronyms, hyperbolic or perhaps misleading statements, virtually indecipherable sentences and incomplete disclosure are bugs, not features of our sector.
Coinbase does it right.
That is, doing an exceptional job with transparent financial and operating disclosure using clear, plain English each quarter in their Shareholder Letter.
New words, phrases, acronyms, hyperbolic or perhaps misleading statements, virtually indecipherable sentences and incomplete disclosure are bugs, not features of our sector. In our three decades of working with companies leading innovation, we have seen it many thousands of times and it’s a serious problem. In fact, it got so bad in the go-go late 1990s that the Securities & Exchange Commission passed Rule 421(d), called the Plain English Rule and an associated rulebook.
We’ve also been impressed by Bitcoin miners who publish monthly operating updates which is another great example of the value of clear, concise and timely data to assist all interested parties with decision-making.
We expect data & data analytics and real-time or close to real-time operating data accessibility to become more and more prevalent. Groups like Amberdata, Lukka and Coin Metrics are actively pursuing this vision. Many DeFi proponents tout transparency and automated, event-triggered transaction execution as key benefits. While there are clearly issues with KYC | AML | Sanctions compliance and completely opaque counterparty visibility, directionally we love the notion of data transparency.
Now all of us need to continue to work on Plain English!