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I've always wondered how this is done. Like, if I'm born lower class, but can see through all the bullshit, how the game is played, the investor pump and dump e
by VoodooJuJu 3y ago
I've always wondered how this is done. Like, if I'm born lower class, but can see through all the bullshit, how the game is played, the investor pump and dump exit schemes, can I play the game? Or is entry to the game only possible via a special ticket, i.e. like an Ivy League degree? Are these milkers and exit strategists starting off well-connected already?
- techdragon 3y agoThe challenge is believing the bullshit. The less knowledgeable people with the money (investors) can only do so much research into how right or wrong a potential investment is… fundamentally if they were more knowledgeable than the people doing the business then they would have seen the opportunity and already have a decision about it… which creates paradoxical decision making, “if it was so obvious it would have been done before” leads to “they must be so smart for working this out” which leads to decisions that amount to “I trust them $X that they are worth $Y”. Once you have the money your kind of wedded to the idea… if it was weird or audacious you have a certain level of follow through necessary to “save face” and be believed next time you present an idea and promise it’s worth what you claim it might be, hence why a dumb idea like this pizza van, took years to finally die. The follow through on the idea requires believing in it… or at least convincing everyone giving you money that you believe. Because if you don’t believe it’s really able to make money, then your basically lying to them.
- moi2388 3y agoAnybody can play, but you need to get a bunch or rich folk to give you money. How you do that is your choice.