> Among the many lessons you can draw from the recent travails of #bitcoin vehicle Strategy (formerly MicroStrategy), one of the most important is this: Don’t ask an #AI #chatbot to design your capital instruments.> The result was the Stretch (STRC) perpetual preferred stock, which may go down as the first security specifically engineered to destroy the value of its issuer. *It’s like having Hal 9000 as your corporate #finance adviser.*https://www.ft.com/content/7d55be67-7f51-482e-8d68-3e0a5a0a358d
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