There is an incredible amount of incompetance in executive class America. The shit floats to the top, and after decades of ass kissing they get appointed CEO. It’s just one get rich quick scheme after another. 2008 everyone invested in the Hah-vud algorithm for free money in debt derivatives without anyone validating the algorithm, and 17 years later, same shit with A1.
These clowns are all hot boxing their own farts on Linkedin.
I definitely lived through the dot com bubble. My memory of that was people registering domain names liked beer(dot)com and selling it for millions of dollars
There’s a few other classic commodity trades in there. Orange juice rings a bell. The SPX box trade guy is really interesting. All sorts of incredible history on there
I do like to think I could have made money on that one and will always regret avoiding it. It was clearly always a bubble with nothing behind it (less than the current ai bubble), but at the same time was a huge long shot.
Like any bubble, you can make money if you’re in early enough but it’s absolutely critical to get out in time before everything comes crashing down. I try to avoid speculation bubbles because I’m not good at getting out in time. But for the bitcoin craze, I think it was much clearer than other bubbles. There was a clear transition where all the faithful were gone and it was pure speculation finance bros. Clearly it had jumped the shark but there was still opportunity to get out of the water
If it makes you feel any better, I was an early adopter, mined 36 bitcoins, got bored, heard years later that bitcoin was “a thing” now and never found my wallet.
Ha ha, so close to becoming ruling class ……. Looking at my cupboard of old computers where I want to look for old photos and stuff …. Yeah I’d lose my wallet too
TIL the economy is driven by FOMO.
There is an incredible amount of incompetance in executive class America. The shit floats to the top, and after decades of ass kissing they get appointed CEO. It’s just one get rich quick scheme after another. 2008 everyone invested in the Hah-vud algorithm for free money in debt derivatives without anyone validating the algorithm, and 17 years later, same shit with A1.
These clowns are all hot boxing their own farts on Linkedin.
Always has been
Feels like it kicked into hyper-drive after Bitcoin blew up
You never lived through the dotcom bubble.
Or tulip mania
I definitely lived through the dot com bubble. My memory of that was people registering domain names liked beer(dot)com and selling it for millions of dollars
Or the gourd futures thing, maybe?
Today I learned about gourd futures on Reddit wall street bets.
There’s a few other classic commodity trades in there. Orange juice rings a bell. The SPX box trade guy is really interesting. All sorts of incredible history on there
I do like to think I could have made money on that one and will always regret avoiding it. It was clearly always a bubble with nothing behind it (less than the current ai bubble), but at the same time was a huge long shot.
Like any bubble, you can make money if you’re in early enough but it’s absolutely critical to get out in time before everything comes crashing down. I try to avoid speculation bubbles because I’m not good at getting out in time. But for the bitcoin craze, I think it was much clearer than other bubbles. There was a clear transition where all the faithful were gone and it was pure speculation finance bros. Clearly it had jumped the shark but there was still opportunity to get out of the water
If it makes you feel any better, I was an early adopter, mined 36 bitcoins, got bored, heard years later that bitcoin was “a thing” now and never found my wallet.
Ha ha, so close to becoming ruling class ……. Looking at my cupboard of old computers where I want to look for old photos and stuff …. Yeah I’d lose my wallet too
It’s called futures. Do you even stonk?
It’s a faith based economy, and when a large amount of participants will believe 2+2=5 there’s no limit to the fuckery you can do!