Justin Sun is apologizing to his fans and followers everywhere for “overhyping” his near $5 million lunch with Berkshire Hathaway CEO Warren Buffett.
Buffett and Sun Are Off… For Now
The two were originally going to meet sometime this week; an even which ultimately had to be postponed because Sun was suffering from kidney stones. Sun later took to Twitter to thank his fans for wishing him well and to apologize for acting like the lunch was more than it was.
I deeply regret my excessive marketing and overhyping behavior and I would like to express my sincere apology to the public, the media, and the leaders and regulators who care about me. All [my behaviors] will be based on national interests, industry interests, and public interests. [I] will abandon the selfishness, actively rectify and abide by the law, export more positive energy for the development of the blockchain industry, do more in-depth thinking, and become a better social role model for youth.
While Sun’s apology can be appreciated – he obviously feels like he let some people down – it doesn’t feel entirely warranted, and maybe Sun is making more out of the apology than he did the lunch. For one thing, the event wasn’t significantly broadcasted. While those of us in the space knew about it, it’s not like it was being advertised everyday in the news the way Libra is.
Second, Sun got sick and had to shift the date. This happens all the time, so why is he making such a big deal out of what happened?
Perhaps Sun is doubting his abilities to change Buffett’s mind. Perhaps he’s been riding on the idea of converting Buffett for so long he never stopped to wonder if this is a possibility. Buffett is going to stick to his guns regardless of what Sun tells him. That’s probably how he’s become a billionaire. Men like that don’t fold easily.
In addition, let’s all assume that everything goes according to plan and Buffett, somehow, does begin to believe in the power of bitcoin and crypto. Even if Buffett does convert, how much could that really do for the space by comparison? For Buffett to make a difference, he would have to purchase crypto… Not just be gifted a phone storing crypto, which is what Sun mentioned he’d do at the lunch.
Trying to Make Non-Believers Crypto Holders
In addition, Sun also announced that he was going to invite President Donald Trump to the lunch to potentially discuss the benefits of cryptocurrency. Trump recently caused a firestorm on Twitter after explaining that he didn’t think cryptocurrencies were “real money” and that their values were based on “thin air.”
In the future, Sun says he will focus less on over-marketing events and more on the development of blockchain technology.