4 ms·
I think what we need to understand is that we shouldn't underestimate how naive people are when it comes to the chance of going home 'big', and how exploitative
by nstart 11y ago
I think what we need to understand is that we shouldn't underestimate how naive people are when it comes to the chance of going home 'big', and how exploitative big companies can be of such naivete. Imagine big company X, listing a shady company Y (no official connections to company x though) which has a few employees and some very vague hocus pocus documents discussing their promise. Y gets a few googly eyed people who don't do their homework to buy in, by selling stock owned by X. Stock prices go up naturally, and then when all the stock is done, big company X closes up Y (discard office premises etc but keep the legal entity) and move on to their next similar venture. Money is laundered back into X's bank accounts and the thieves come out on top yet again.
It's not like the current system stops people from being gamed, but any of these types of systems are bound to be exploited by the "evils". Cartels are formed in the shadows, markets are manipulated. I love the idea of a public market as an official process, but I'm not sure if it can be done without the system becoming polluted.