It’s all a Ponzi scheme: why scams, grifts and cons are everywhere under capitalism
Channel: ItHadToBeSaid
Date: 2023-12-30

Why Ponzis, pyramids, grifters and con artists seem to be everywhere

1:15 a scam works as long as we believe in it
7:09 stock scams
9:50 the hierarchy scam
12:01 the talent scam
15:09 how to get rich
20:06 why capitalism is full of scams

Sources:
Platform Capitalism by Nick Srnicek: https://www.goodreads.com/book/show/32999998-platform-capitalism 

Companies that died and survived the dotcom bubble: https://www.lombardiletter.com/companies-that-died-and-survived-the-dotcom-bubble/9106/

Investopedia on Enron: https://www.investopedia.com/terms/e/enron.asp 

Other links: 

Tom Nicholas: Why scams are everywhere now: https://www.youtube.com/watch?v=2bq3SdfzcA4 

David Harvey: How the credit system created “fictitious capital” and why it’s a big Ponzi scheme: https://www.youtube.com/watch?v=0yPytxeIDpE 

Munecat: Why Web 3.0 (cryptocurrency, NFTs, the Metaverse) is a grift: https://www.youtube.com/watch?v=u-sNSjS8cq0 

A transcript of this video is available at https://theruleoffreedom.wordpress.com/2023/12/30/its-all-a-ponzi-scheme-why-scams-grifts-and-cons-are-everywhere-under-capitalism/