Play the Stock Market Game Matt Can’t Win
TLDR
Deep Dive
How much money has the crypto industry spent on influencing the U.S. election in 2024?
The crypto industry has spent $119 million in 2024 on directly influencing U.S. elections, which is nearly half of all corporate election spending this year and second only to oil and gas companies in historical spending.
What is the strategy of the crypto industry in influencing the U.S. election?
The crypto industry, through the PAC Fairshake, is running ads that smear the reputation of candidates perceived as anti-crypto, without mentioning crypto directly. This strategy aims to make candidates fear being labeled as anti-crypto to avoid negative ads.
What percentage of players lose money in the stock trading game discussed in the podcast?
70% of players lose money in the stock trading game, with the bottom 20% losing everything and the bottom 10% owing money beyond their initial stake due to borrowing.
What is the main lesson from the stock trading game about investing?
The main lesson is that even with a crystal ball showing future headlines, most people, including finance professionals, struggle to make profitable trades due to poor bet sizing and emotional decision-making. The game highlights the importance of risk management and the difficulty of consistently beating the market.
What environmental disaster is Jared Sullivan's book 'Valley So Low' about?
Jared Sullivan's book 'Valley So Low' is about the 2008 coal ash spill in Tennessee, where a billion gallons of toxic coal ash collapsed, covering 300 acres and causing severe health issues for cleanup workers who were not provided proper protective equipment.
What is the significance of the coal ash spill in Tennessee in terms of corporate responsibility?
The coal ash spill highlights the lack of corporate responsibility, as workers were not given protective gear despite the toxic nature of the coal ash. The Tennessee Valley Authority downplayed the risks, and hundreds of workers became ill, with over 50 deaths linked to the cleanup efforts.
What is the role of Jim Scott in the coal ash spill story?
Jim Scott is a personal injury lawyer who took on the case of the sick and dying cleanup workers from the coal ash spill. Despite his lack of resources and personal struggles, he fought for over a decade to seek justice for the workers, embodying a David vs. Goliath struggle against a powerful corporation.
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