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In-the-arena

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Part of a series on Crypto Bros Taking Ls. [View Related Entries]


About

In The Arena refers to a catchphrase from a tweet by entrepreneur and podcaster Chamath Palihapitiya, in which he justified his participation in what many called a scam by saying he was "in the arena trying stuff." Users then took the catchphrase and mocked it, placing the expression in different contexts.

Chamath Palihapitiya @chamath ALL IN I'm in the arena trying stuff. Some will work, some won't. But always learning. You're anonymous and afraid of your own shadow. Enjoy the sidelines. 4:22 PM. Aug 22, 2023 707.7K Views β€’ :

Origin

In 2022, Chamath Palihapitiya ran a series of SPACs (initial public offerings of company stocks) and hyped them heavily so that others would invest and buy stocks, jacking up the prices. Palihapitiya then sold his shares when the stock was at its most valuable. Shortly afterwards, all the stocks tumbled in value, meaning many retail investors lost money.[1]

Some accused Palihapitiya of deceitfully hyping the less-than-stellar stocks in order to scam people. On August 22nd, in a thread on X, @wmcintyre84 and Palihapitiya got into an argument (seen below) which resulted in Palihapitiya declaring he was "in the arena trying stuff."[2]

Chamath Palihapitiya ALL @chamath. Aug 22 IN Why did you not sell when I sold? What was your underwriting at that time? 87 ili 116.7K ↑ 53 William @wmcintyre84 Aug 22 How do you live with yourself given the massive losses you inflicted on spac holders? Q7 40 54 27 7 9 Chamath Palihapitiya ALL @chamath. Aug 22 I didn't inflict any losses. Stop being a victim, the world will pass you by. 1 32 101 ₁161.8K William @wmcintyre84. Aug 22 You are a pump and dumper nothing more t 15 1,154 885 Chamath Palihapitiya @chamath ALL IN ₁50.9K ₁44.5K I'm in the arena trying stuff. Some will work, some won't. But always learning. You're anonymous and afraid of your own shadow. Enjoy the sidelines. ... ... ↑ ... ←] μ†Œ : ↑

Palihapitiya's use of the quote may be inspired by Theodore Roosevelt, who he cited in an April 2023 Substack post.[5] The Theodore Roosevelt quote,[6] from a speech he delivered in Paris in 1910, reads:

It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.

Spread

Posters in the replies to the @chamath tweet began dunking on him and on venture capital in general, arguing that his idea was ridiculous, and being "in the arena" was not an excuse for hurting average people. @Larryjamieson_ earned almost 400 likes in twelve hours (seen below left) arguing that "in the arena" was a bad excuse in a day on August 23rd.[3] @buccocapital (seen below right) used a meme featuring RFK Jr. on Joe Rogan's podcast to mock Chamath's view that the arena metaphor excused his actions, earning almost 2,400 likes over the course of a day on August 23rd (seen below right).[4]

Buyback Capital @Larryjamieson_ . 16h "Billy, this is being in the arena'. No matter how misleading or deceptive your financial promotion is, you can use this phrase to deflect all responsibility for your actions." THAT CAN OAK 781956 2001 SHES 1748 2044 BETRAY 2001 S 72500 44100 61646 as WIN RECORD EXPERNED ACTUAL EXPECTED ACTUAL 6525 62% 106-56 102-40 6143 99-63 0-0 7160-51h .6097 91-63 5597 564 91-71 178 100-62 ...
BuccoCapital Guy @buccocapital : "It's called being in the arena. Apparently, and you can look this up, but apparently it's not illegal or unethical if it happens inside the arena. There are thousands and thousands of people in the arena and you can't hold them accountable to anything they do in there" 9:17 PM. Aug 23, 2023 144.3K Views

Various Examples

paddington bear stan account (sped up 5x) @adriyoung . 15h not now sweetie mommy's in the arena trying stuff 45 :
des @dotnetschizo.2h I'm in the arena trying stuff. Some will work, some won't. But always learning. You're anonymous and afraid of your own shadow. Enjoy the sidelines. SHERIFF FULTON COUNTY SHERIFF'S OFFICE PATRICK LABAT :
Fabio @zugmanfabio Me and the boys liking each other's "in the arena" jokes F 7:02 PM. Aug 23, 2023 31.5K Views :

LFG Capital @LFGCapitalLLC A second man has entered the arena PRE ME MA Π‘Π°ΠΌ 6:50 PM. Aug 23, 2023 Β· 34.2K Views :
sophie @netcapgirl teddy roosevelt in the afterlife seeing how the arena quote is being used 5:47 PM. Aug 23, 2023 103.7K Views ...
Buyback Capital @Larryjamieson_ "Your Honour, in my client's defence he was 'in the arena"" 12:08 AM. Aug 24, 2023 104.4K Views . :

External References

[1] Substack – Newcomer

[2] X – @chamath

[3] X – @Larryjamieson_

[4] X – @buccocapital

[5] Substack – 2022 Annual Letter

[6] Theodore Roosevelt Center – Man In The Arena



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In The Arena

In The Arena

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About

In The Arena refers to a catchphrase from a tweet by entrepreneur and podcaster Chamath Palihapitiya, in which he justified his participation in what many called a scam by saying he was "in the arena trying stuff." Users then took the catchphrase and mocked it, placing the expression in different contexts.


Chamath Palihapitiya @chamath ALL IN I'm in the arena trying stuff. Some will work, some won't. But always learning. You're anonymous and afraid of your own shadow. Enjoy the sidelines. 4:22 PM. Aug 22, 2023 707.7K Views β€’ :

Origin

In 2022, Chamath Palihapitiya ran a series of SPACs (initial public offerings of company stocks) and hyped them heavily so that others would invest and buy stocks, jacking up the prices. Palihapitiya then sold his shares when the stock was at its most valuable. Shortly afterwards, all the stocks tumbled in value, meaning many retail investors lost money.[1]

Some accused Palihapitiya of deceitfully hyping the less-than-stellar stocks in order to scam people. On August 22nd, in a thread on X, @wmcintyre84 and Palihapitiya got into an argument (seen below) which resulted in Palihapitiya declaring he was "in the arena trying stuff."[2]


Chamath Palihapitiya ALL @chamath. Aug 22 IN Why did you not sell when I sold? What was your underwriting at that time? 87 ili 116.7K ↑ 53 William @wmcintyre84 Aug 22 How do you live with yourself given the massive losses you inflicted on spac holders? Q7 40 54 27 7 9 Chamath Palihapitiya ALL @chamath. Aug 22 I didn't inflict any losses. Stop being a victim, the world will pass you by. 1 32 101 ₁161.8K William @wmcintyre84. Aug 22 You are a pump and dumper nothing more t 15 1,154 885 Chamath Palihapitiya @chamath ALL IN ₁50.9K ₁44.5K I'm in the arena trying stuff. Some will work, some won't. But always learning. You're anonymous and afraid of your own shadow. Enjoy the sidelines. ... ... ↑ ... ←] μ†Œ : ↑

Palihapitiya's use of the quote may be inspired by Theodore Roosevelt, who he cited in an April 2023 Substack post.[5] The Theodore Roosevelt quote,[6] from a speech he delivered in Paris in 1910, reads:

It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.

Spread

Posters in the replies to the @chamath tweet began dunking on him and on venture capital in general, arguing that his idea was ridiculous, and being "in the arena" was not an excuse for hurting average people. @Larryjamieson_ earned almost 400 likes in twelve hours (seen below left) arguing that "in the arena" was a bad excuse in a day on August 23rd.[3] @buccocapital (seen below right) used a meme featuring RFK Jr. on Joe Rogan's podcast to mock Chamath's view that the arena metaphor excused his actions, earning almost 2,400 likes over the course of a day on August 23rd (seen below right).[4]


Buyback Capital @Larryjamieson_ . 16h "Billy, this is being in the arena'. No matter how misleading or deceptive your financial promotion is, you can use this phrase to deflect all responsibility for your actions." THAT CAN OAK 781956 2001 SHES 1748 2044 BETRAY 2001 S 72500 44100 61646 as WIN RECORD EXPERNED ACTUAL EXPECTED ACTUAL 6525 62% 106-56 102-40 6143 99-63 0-0 7160-51h .6097 91-63 5597 564 91-71 178 100-62 ... BuccoCapital Guy @buccocapital : "It's called being in the arena. Apparently, and you can look this up, but apparently it's not illegal or unethical if it happens inside the arena. There are thousands and thousands of people in the arena and you can't hold them accountable to anything they do in there" 9:17 PM. Aug 23, 2023 144.3K Views

Various Examples


paddington bear stan account (sped up 5x) @adriyoung . 15h not now sweetie mommy's in the arena trying stuff 45 : des @dotnetschizo.2h I'm in the arena trying stuff. Some will work, some won't. But always learning. You're anonymous and afraid of your own shadow. Enjoy the sidelines. SHERIFF FULTON COUNTY SHERIFF'S OFFICE PATRICK LABAT : Fabio @zugmanfabio Me and the boys liking each other's "in the arena" jokes F 7:02 PM. Aug 23, 2023 31.5K Views :

LFG Capital @LFGCapitalLLC A second man has entered the arena PRE ME MA Π‘Π°ΠΌ 6:50 PM. Aug 23, 2023 Β· 34.2K Views : sophie @netcapgirl teddy roosevelt in the afterlife seeing how the arena quote is being used 5:47 PM. Aug 23, 2023 103.7K Views ... Buyback Capital @Larryjamieson_ "Your Honour, in my client's defence he was 'in the arena"" 12:08 AM. Aug 24, 2023 104.4K Views . :


External References

[1] Substack – Newcomer

[2] X – @chamath

[3] X – @Larryjamieson_

[4] X – @buccocapital

[5] Substack – 2022 Annual Letter

[6] Theodore Roosevelt Center – Man In The Arena

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