Money

planted 07 Aug 2021 · tended 01 Oct 2026 · 🌱 seedling

Ponzi scheme - after Charles Ponzi
Evolutionary - we are wired to trust
we think we are good lie detectors but we are terrible lie detectors
Scams
- Advance Fee Scam
- Pump and Dump
- Ponzi scheme
- Pyramid scheme
  - Pyramid != MLM until most business comes from outside
- Coaching scheme
  - business where they teach you how to make more money
  - fantastic promise
  - compelling stories
  - social proof
  - sense of urgency
crypto
- usa -> ponzi-type nature
- one coin - ponzi scheme
- ruja - cryptocurrency queen
puffery, embellishment
- no reasonable buyer would take it seriously
- difficult to know where puffery ends and fraud begins
difficult to differentiate b/w well-meaning entrepreneur v/s scoundrel
without trust, we are nowhere as a society. we cannot build society if we don't trust one another
trust goes hand in hand with prosperity
"wouldn't want to live in a world where you couldn't be conned. in that world, you wouldn't believe in anyone/anything."

0.0001%
Dozen are world leaders
Capital - anything you own that can make you money (house, stock, your likeness)