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thomasgoddard's review
4.0
I’m always surprised how many times people will fall for the same performance. A charismatic guy and his new age wife took investors to the cleaners driving up the value of their company past even the wildest of speculative estimations. Yet no one bothered to really call time. Even a guy with a similar business just shrugged and let them get on with it.
I think that a lot of it is down to the newness of the industry. You always get it with a new industry, few people understand it and so they fall victim to snake oil salesmen who tell them it is the cure for world hunger. Bonus points if you then use that exact scenario. The tech industry benefits from what I assume soon the genetics/nano/energy industry will benefit from... no one with any money knows how the damn thing works.
And even more amazing is the fact that WeWork had no technological credentials whatsoever. They just rented out office space.
If you tell them that it is a get rich quick scheme, most people will focus on the first two words. Rich and Quick. Don’t tell me how it works, just get me some money. And when you have billions to invest and seemingly nowhere to put it... you end up dropping it on duds.
Maybe that is what trickle down economics means. People have finally got exactly n to the power of infinite money over sense these days. You just have to have a good story and some idiot will spill some dollars into your outstretched bowl at some point.
The book is really good reading. Very clear. Very sharp. Funny too. I’d recommend it to anyone interested in business. Essentially - if you have no moral compass - it gives you all the insights into how to get away with the biggest fraud in history.
I think that a lot of it is down to the newness of the industry. You always get it with a new industry, few people understand it and so they fall victim to snake oil salesmen who tell them it is the cure for world hunger. Bonus points if you then use that exact scenario. The tech industry benefits from what I assume soon the genetics/nano/energy industry will benefit from... no one with any money knows how the damn thing works.
And even more amazing is the fact that WeWork had no technological credentials whatsoever. They just rented out office space.
If you tell them that it is a get rich quick scheme, most people will focus on the first two words. Rich and Quick. Don’t tell me how it works, just get me some money. And when you have billions to invest and seemingly nowhere to put it... you end up dropping it on duds.
Maybe that is what trickle down economics means. People have finally got exactly n to the power of infinite money over sense these days. You just have to have a good story and some idiot will spill some dollars into your outstretched bowl at some point.
The book is really good reading. Very clear. Very sharp. Funny too. I’d recommend it to anyone interested in business. Essentially - if you have no moral compass - it gives you all the insights into how to get away with the biggest fraud in history.
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