ponzi schemes

The FT’s Rob Armstrong sits down with Tim Harford, host of the podcast Cautionary Tales, to discuss Ponzi schemes, how they spiral out of control and what differentiates them from bubbles — and from Amazon. Plus, we go long pyramid schemes and short, as usual, crypto. 

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Check out Tim’s podcast, Cautionary Tales, and the full story on Sam Israel’s Ponzi scheme here.

Read a transcript of this episode on FT.com

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As a young girl growing up in Michigan, Gina Champion-Cain dreams of becoming a business woman. After she moves to San Diego, she makes a name for herself as one of the city’s most influential developers. She appears on magazine covers and takes credit for revitalizing downtown. When she starts shilling loans for liquor licenses, investors think it’s a slam-dunk… until they discover the entire scheme is built on a lie.

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Sunny and Vinny are BACK to break down all the important topics in crypto: SBF updates (2:52), how $GBTC played into the industry unraveling (11:34), why we should be paying attention to Genesis (25:51), Michael Saylor's recent comments (44:13), and more!

(0:00) Jason tees up today's crypto roundtable!

(2:52) Sunny and Vinny are back to talk about the current vibes in crypto and some updates on the SBF situation

(10:20) Embroker - Use code TWIST to get an extra 10% off insurance at https://Embroker.com/twist 

(11:34) How the Grayscale Bitcoin Trust played into the industry unraveling

(24:21) Supergut - Get 30% off with code TWIST at https://supergut.com 

(25:51) Why Genesis is more concerning than $GBTC

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(36:29) Decentralized exchanges, importance of self custody, how Solana's price drop relates to Genesis

(44:13) Michael Saylor's recent comments on Ethereum and Ripple being securities, problems with the "foundation" entity workaround

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Ponzi schemes. How do they work? And who's Ponzi? Join Josh and Chuck in this classic episode to discover how an Italian immigrant created a classic con that's still fleecing investors today.

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There's been a lot in the news about Ponzi schemes lately. How do they work? And who's Ponzi? Check out this podcast from HowStuffWorks.com to discover how an Italian immigrant created a classic con that's still fleecing investors today.

See omnystudio.com/listener for privacy information.