Oh GOD please don't make me bsky's main character over this. It's just an explanation of convertible notes! I'm innocent I tell you!

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Mostly I'm laughing about this but there really is something sick at the heart of our epistemology on this site sometimes. Probably it was always like this, but things aren't true because your ideology demands it. All you have to do is read.

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the fact that an intermediate CA in India that sells only into the Indian market, when compromised, can generate TLS certs for literally any website on the internet, that feels like a major trust boundary problem

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Are we gonna do this, Bluesky? Are we all just gonna not understand accounting? 72B$ of the 80B$ is convertible notes. They became greater liabilities because the company's valuation skyrocketed. They don't have an 80B$ loss in the sense that almost everyone here is imagining.

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truly a wild time to be alive when the cryptography world is split between those worried about quantum computers and those whose private key is “4”

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