71–80 of 265 posts
Because the cryptocurrency ecosystem does not do investment -- likely in very large part because no one can buy anything legal with cryptocurrency -- returns for coiners who cash out must, by definition, come from later investments.
Paying earlier investors with the investments of those who follow is the definition of a ponzi scheme.
Cool article though.
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"People have been endlessly screwed over" Heyzeus you have it easier than any generation literally in the history of civilisation. Those just a little bit older than you were fighting in Vietnam, getting beaten up because they were gay, told to live in ghettos and denied jobs by banks and government because they were Black, forbidden from drinking from 'White' fountains. Nothing anyone has faced 'since 2008' is exist…
"Literally nothing existentially difficult" flies in the face of the unprecedented increase in suicide among people coming of age which started precisely around 2008.
Once again proving my point: flippant assertions that 'the world is hard' when actual data suggests just the opposite.
Taking your example, suicide, we're very materially, measurably, scientifically, much better off.
[1] https://en.wikipedia.org/wiki/Suicide_in_the_United_States#:....
[2] https://www.newscientist.com/article/2207007-us-suicide-rate...
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> How does one break out when everyone's taking glamorous selfies in Thailand but I'm working in a dingy apartment trying to build the next big app? Isn't the idea of building the "next big app" itself based on the same kind of get-rich-quick mindset those schemes are exploiting? Only except for the "nomad lifestyle" or "selling courses", etc, it's supposed to happen by coding in a dingy apartment. But it's equally u…
> How about merely building a business? More people need to be told this. The combination of work ethic, of risk tolerance, and of perseverance against ridiculous odds that is required to build a Tesla, or an Apple, or a Whatever, is extraordinarily rare
This article is fantastic. I think "get rich quick" schemes are so much worse when it comes to my generation and beyond (millennials/gen-z). People have been endlessly screwed over: graduated college during the 2008 economic bust, lived with parents until their 30s, fired/laid off during the 2020 pandemic -- so I fundamentally understand the mirage of Instagram fame and endless sacks of money for doing basically noth…
"People have been endlessly screwed over" Heyzeus you have it easier than any generation literally in the history of civilisation. Those just a little bit older than you were fighting in Vietnam, getting beaten up because they were gay, told to live in ghettos and denied jobs by banks and government because they were Black, forbidden from drinking from 'White' fountains. Nothing anyone has faced 'since 2008' is exist…
Together these can become oppression or existential life difficulty.
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Good way to minimize someone's pain and life experiences because others have had it bad. If we're going to go full retard..., let's go: "Black people shouldn't complain about slavery because they weren't systematically killed off by the millions like Jews." What a fun game! Look, I can play it too!
Coming of age in 2008 is not 'pain'. You're literally extending the plight of someone 'graduating in 2008' to 'Jews dying in the holocaust' as though they are on some similar scale which I think helps prove my point.
You say 2008 wasn't bad because being lynched for being having to drink from the colored fountain is worse. So I tell you that's not so bad because the holocaust was even worse. And maybe the holocaust wasn't even such a big deal because . See where that leads us?
Legit question: is [1] an instance of this kind of scheme? The guy came out of nowhere boasting how he left his $500K job at amazon and whatnot (first red flag for me) and I've seen his content popup pretty often. 1: https://gumroad.com/l/aws-good-parts
I know Daniel, his work is not a ponzi scheme. Because you asked this question in good faith, I'll give you a summary in good faith: 1. The book you linked is just technical content. It teaches you how to use AWS, not how to sell books about using AWS. 2. Unlike the tongue-in-cheek examples of the original post based on minimal success, this book is written based on years of professional experience as a developer bui…
If you check the testimonials of those who have achieved success, it’s exactly as the article describes. Someone going from 100 to 150 followers going “OMG ITS WORKING!”
[0]: https://mobile.twitter.com/dvassallo/status/1263160316277350...
This article is fantastic. I think "get rich quick" schemes are so much worse when it comes to my generation and beyond (millennials/gen-z). People have been endlessly screwed over: graduated college during the 2008 economic bust, lived with parents until their 30s, fired/laid off during the 2020 pandemic -- so I fundamentally understand the mirage of Instagram fame and endless sacks of money for doing basically noth…
> For a classic example, just look at /r/wallstreetbets -- young people are frustrated because there's no end to this tunnel That's a bad example. By many measures retail investors have outperformed institutional investors since March. The simple reason is that options have a built in exit strategy, the thing that's missing when most people lose in scams - including Ponzi schemes! On the flip side, why then do they o…
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Musk had about $140 million when he ~started~ bought (sorry) Tesla. That's a pretty far cry from a billion. On top of that, there was no guarantee that electric cars would ever be embraced, especially by Americans, who traditionally, love ICE muscle cars.
> On top of that, there was no guarantee that electric cars would ever be embraced, especially by Americans, who traditionally, love ICE muscle cars. Generous subsidies for electrics in the US and other countries helped with that. Like generous government money funnelled through NASA contracts helped Space X repeat what NASA did in the late 60s/early 70s, slightly improved, 40 years later...
Legit question: is [1] an instance of this kind of scheme? The guy came out of nowhere boasting how he left his $500K job at amazon and whatnot (first red flag for me) and I've seen his content popup pretty often. 1: https://gumroad.com/l/aws-good-parts