The author had some awesome analogies and phrases, but one I like that he didn't mention, was the subprime mortgage era.
1. Gather a thousand individually worthless mortgages
2. Massive manipulation and number crunching and fraud and derivatives to the Nth degree, just a pile of self referential promises, not a human centipede analogy but more a snake eating its tail? who cares as long as an endless string of commission earners all get their cut.
3. Get really rich... for a little while. Suddenly the bagholders go bankrupt. Hopefully you took your millions and ran?
We're running the same business model with data and tracking and social and followers and marketing, or in general, the internet, instead of subprime mortgages.
Make your millions fast, you don't have much longer, and make sure you're not the guy left holding the bag when it all goes down.
Insert investing discussion about the difference between the concepts of price and value and how making money off suckers relies on the suckers not understanding those concepts.
The author had some awesome analogies and phrases, but one I like that he didn't mention, was the subprime mortgage era.
1. Gather a thousand individually worthless mortgages
2. Massive manipulation and number crunching and fraud and derivatives to the Nth degree, just a pile of self referential promises, not a human centipede analogy but more a snake eating its tail? who cares as long as an endless string of commission earners all get their cut.
3. Get really rich... for a little while. Suddenly the bagholders go bankrupt. Hopefully you took your millions and ran?
We're running the same business model with data and tracking and social and followers and marketing, or in general, the internet, instead of subprime mortgages.
Make your millions fast, you don't have much longer, and make sure you're not the guy left holding the bag when it all goes down.
Insert investing discussion about the difference between the concepts of price and value and how making money off suckers relies on the suckers not understanding those concepts.