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yuga.eth 🛡

@yugacohler

Onchain AI @coinbase, Fellow @TrilateralNA, Member @USJC + @CFR_org 🇺🇸🇯🇵. Previously @google + @harvard. Views expressed are my own, not my employer's.

ID: 358613542

linkhttp://incentivized.substack.com calendar_today20-08-2011 06:05:23

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@yugacohler

2 years ago

I’m not a lawyer, but I think AAPL is a security because AAPL is equity, and equity is explicitly named as a security in the Securities Act. In particular, a share of AAPL is not an investment contract (another type of security), and the Howey test applies only to investment