Given the already high-profile nature of Justin Sun’s upcoming lunch with billionaire Warren Buffett, you might think he would play his cards close to the vest. Not Sun, who is milking the auction prize for all it’s worth. He announced on social media that he’s selected San Francisco’s Quince, a “three-Michelin starred restaurant in…historic Jackson Square,” for the July 25 $4.5 million meal – though if you ask Sun, he’d probably say that it’s priceless. Sun said in a blog post:
“After narrowing the choices to three, I ultimately chose Quince because its food represents the traditional and the upstart — much like the participants in the lunch itself.”
Sun is also inviting the media to a press conference to be held both before and after the big lunch. Buffett will seemingly only be present for the morning press event, while Sun’s Tron – never to miss a moment in the, well, sun – will participate in both.
Quince has graciously agreed to put Warren Buffett’s favorite drink, Cherry Coke, on the menu for the event. This should warm the billionaire stock market investor up and make him feel right at home.
Considering the roller coaster ride that bitcoin has taken investors on over the past week, Sun and Buffett will surely have plenty to talk about. On the surface, bitcoin’s sudden price gyrations lend themselves to Buffett’s argument that bitcoin is a “gambling device.”
Sun is going to have his work cut out for him to explain that volatility is a feature, not a curse, that is attached to the biggest cryptocurrency. Considering that Warren Buffett is a long-term investor and not a trader, Sun might actually be successful at this. Where it might get tricky is defending bitcoin as a payment method.
Meanwhile, bitcoin will also be a hard sell as a store of value considering that Buffett doesn’t like gold, either. For him, it’s stocks, stocks, stocks. But a key reason he prefers stocks to gold is that the returns are higher with the former, which works in bitcoin’s favor.
Justin Sun has revealed his strategy, which appears to have three parts. First, he will pave the way for the discussion by pointing out that some of the world’s biggest companies including Facebook, JPMorgan, and IBM each have their own respective blockchain and cryptocurrency projects. Facebook is always a good ice-breaker because most people can relate to the social media platform, possibly even Warren Buffett.
Next, he will focus on his own projects – Tron and BitTorrent.
“I’ll talk to Buffett and other attendees about how we’re integrating blockchain into BitTorrent, with its 100 million monthly active users and what we’re doing to expand and nurture the TRON blockchain.”
If Sun can avoid getting too technical with the known Luddite, he just might have a chance. Just remember Justin – KISS (keep it simple stupid). Finally, it will be time to eat.
“Lastly, I’m looking forward to a great meal!”
Sun gets to invite up to seven guests to the famous lunch. So far he’s announced that Litecoin Creator Charlie Lee is among them.
Last modified: June 23, 2020 7:33 PM UTC