Tech stocks vs Melbourne Cup 2019 edition

#NupToTheCup and my annual protest against the state-sponsored animal cruelty and gambling addiction which is the race that stops the nation.

Australian Greens social media poster quoting research showing 122 racehorses died on Australian race tracks last year.
Australian Greens social media poster quoting research showing 122 racehorses died on Australian race tracks last year.
Not a good look.
  • 7.30 Report screened a harrowing special report on endemic cruelty and inhumane treatment of horses too old, or injured or too bad at running fast;
  • First Dog On the Moon is just one of the many fine cartoonists making an annual call for change;
  • The Victorian horse racing organisation VRC felt pressured enough to announce they’d take a meaninglessly small amount of the profits from the race and spend it on “VRC Equine Wellbeing Fund for the care of racehorses” (which sounds rather more like “helping minimise the effects of how we mistreat racehorses” than “let’s take better care of the horses that manage to survive long enough to retire”).
  • I don’t know who Lana Condor is but I’ve heard of Taylor Swift and Megan Gale, and all three decided to shake off the Melbourne Cup this year. Replacement singer Cosmo Callea (never heard of him either… oh wait, he’s the Australian Idol singer from years ago?) announced he’d donate his appearance fee to a race horse protection charity; and

Why do I do that each year?

Because all investment is gambling and all gambling is investment, it’s just a question of odds, market transparency and when you buy/sell. But investing in the barbarous exploitation of tech industry workers does at least come with the conscious consent of the tech workers, whereas the barbarous exploitation of racehorses isn’t really something the horses can consent to.

How am I tracking?

I’m not doing too bad! The biggest return to date was from the first time I bet against the Melbourne Cup, in 2010, with the purchase of some Apple shares at USD74.90. I distinctly remember complaining that they were so expensive at the time but now they’re at USD257.50 I’m happier!

Screen dump of the financial performance of the tech shares I’ve bought each Melbourne Cup day since 2010
Screen dump of the financial performance of the tech shares I’ve bought each Melbourne Cup day since 2010

I’m Alan Jones, an EiR for startup accelerators, GP at M8 Ventures. Previously investor, founder, and early Yahoo PM. Opinions mine (but should also be yours).

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