4 ms·
Money excuses any behavior for some folks, but I think the thesis falls apart when assuming a salable product/service has real associated monetary value. While
by Joel_Mckay 3y ago
Money excuses any behavior for some folks, but I think the thesis falls apart when assuming a salable product/service has real associated monetary value.
While “Pig in a poke (cat in a bag)” scams fall across many markets, a far more popular “Noorseekee (нурсики)” scam seems particularly prevalent in global technology and property assets. i.e. people convincing other people something is valuable before reality shatters the illusion.
https://en.wikipedia.org/wiki/List_of_confidence_tricks https://en.wikipedia.org/wiki/List_of_confidence_tricks
This isn’t new, and fighting dirty to gain dominant market share for an artificial monopolistic position hijacks critical thinking. The stock markets main function is to wash away accountability, and leverage information asymmetry to siphon equity out of the losers.
And yes, by definition poor people are often irrationally competitive, and lack impulse control. Those who foolishly take credit for scams often suffer rather unsurprising consequences.
https://www.youtube.com/watch?v=9b7P2z0-cuQ https://www.youtube.com/watch?v=9b7P2z0-cuQ
Actual successful companies bring real value to the customers, and foster goodwill with their brands.
Have a wonderful day, =)