By vlade, Naked Capitalism’s longest-standing member of the commentariat
September 14 just past was 11 years to a day since I posted my first comment on Naked Capitalism – which makes me officially the longest serving commenter. But I had been reading NC before I started to comment although I don’t know since when; my dim recollection it was a link from another esteemed website, Interfluidity, on CDOs, a topic Yves eventually mastered despite the fact that it was arcane and very secretive. In fact, it became my daily go-to page.
The reason for that is simple. Yves was a rarity in 2007, and Naked Capitalism is even a greater rarity today. It’s a site which wants to pursue the truth – and not the one and only ideological truth, but the real one, which, at times will be most unpleasant even to Yves’s side – but without which we can’t move on. So please give and give generously, the Tip Jar tells you how.
In these days of easy words and meaningless metaphors, massive startups achieving nothing but lies (here’s to you, Theranos…) get labeled unicorns. To me, Naked Capitalism is more of a real unicorn – magical, rarely seen, but life-changing for those who get to see it – than those startups ever were. It changes lives, not just of us, the community, but of people who never heard of NC, and maybe never will – most recently by relentlessly pursuing CalPERS’ dodgy dealings, but the examples over the decade are countless: private equity chicanery, inadequate post crisis “reforms,” mortgage and chain of title abuses, ObamaCare’s failed promise, austerity, the 2015 Greece bailout, crapification, and Brexit.
Yves is dedicated to keeping the magic alive by literally sacrificing a big chunk of her life, and she’s been fortunate in finding like-minded and dedicated fellow writers, such as Matt Stoller and Ed Harrison in the early days of the site, and Lambert, Jerri-Lynn, and Hubert Horan more recently. But it needs still more to keep the magic alive. NC has none of the resources that the false unicorns have, no VCs pouring money into it left, right, and center, on the assumption that they’ll be able to get out while the getting is still good.
It needs us, the community that built over the decade here, to contribute, to care and nurture. Not only in comments, as we do on daily basis, but in much mundane ways. After all, even unicorns must be fed, and just running NC takes money – not a lot of money compared to traditional media, but a lot compared to what an ad market dominated by Google and Facebook provides.
So please give generously to keep the magic of NC around, and, if we are lucky, even expand. There are many more deserving targets Naked Capitalism could take on if it had more money. Keeping real unicorns around is well worth it – and if we don’t take care of them, we don’t deserve them. So whatever you can give, whether $10 or $1000, helps keeps this special and vital beast going at full speed.