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Speculative Bubbles in the 21st Century & Asymmetric Upside
Looking ahead, the wealth divide will likely accelerate and today’s social tensions must inevitably rise. But, much like in 1920s Germany when hyper-inflation savaged the post-WW1 economy, there was also a widening split between young (stock speculators) and old (bond investors). In today’s monetary inflation World, many young (crypto investors)... See more
Michael Howell • The Debt-Liquidity Spiral
Manias and Mimesis: Applying René Girard’s Mimetic Theory to Financial Bubbles
Tobias Huberdeliverypdf.ssrn.comPerhaps rather than 10x better, the correct way to think of crypto is as 10x weirder. This is an entirely new financial paradigm with no historical precedent. We have no idea what all of this will do. Maybe, like the ICO boom, everything will be fraudulent garbage! Or maybe we will all get rich!
Every • Will Tokens Replace Equity?
Let’s start with the breakout asset class of the year: NFTs. Yes, they’re like the ICOs of this cycle: sky highhype, crazy volatility, lots of early lottery winners and complete garbage. But as a new asset type and class,