crypto ripple

Peak Ripple? Chris Larsen Lands In The New York Times Amid ‘Insane’ Rise On Forbes List

“There’s absolutely nothing driving this rally except rampant FOMO, misinformation, and speculation.”

Earlier this week, in "The Finance 2017 Time Capsule Is Something We Should Bury Deep," we suggested that one day, when we all look back on what's unfolded in markets over the last 12 months, it's going to seem so laughably absurd that there won't be enough cheap vodka in the world to drown out our collective sorrow after the massive wealth destruction that will almost invariably accompany the unwind. One of the things we pointed out in that post is the extent to which what seems ridiculous one day seems entirely sane the next thanks to the fact that the stories are getting sillier and sillier seemingly by the hour. As evidence of that contention, we reminded you about Seth Golden, the former logistics manager at a local Target store who caught the attention of The New York Times back in August. Seth briefly became the poster child for speculative manias after the Times documented his transformation from retail store manager to armchair vol. seller. When that story was published, everyone was sure – sure, I tell you – that nothing could sound more ridiculous than this: Mr. Golden, who is 40, lives in a suburb of Ocala, Fla. Since he has been shorting VIX, he says his net wor
Subscribe or log in to read the rest of this content.

4 comments on “Peak Ripple? Chris Larsen Lands In The New York Times Amid ‘Insane’ Rise On Forbes List

  1. […] fidget spinner as a logo) came hot on the heels of 2017’s 32,000% gain. The furious rally briefly catapulted cofounder and former CEO Chris Larsen above Google founders Larry Page and Sergey Brin, Steve […]

  2. […] literal fidget spinner as a logo) came hot on the heels of 2017’s 32,000% gain. The furious rally briefly catapulted cofounder and former CEO Chris Larsen above Google founders Larry Page and Sergey Brin, Steve […]

  3. […] literal fidget spinner as a logo) came hot on the heels of 2017’s 32,000% gain. The furious rally briefly catapulted cofounder and former CEO Chris Larsen above Google founders Larry Page and Sergey Brin, Steve […]

  4. […] despite the euphoria having generally deflated in lockstep with Chris Larsen’s make-believe fortune (which at one point was on par with Mark Zuckerberg’s Facebook riches) and despite the fact that […]

Speak your mind

This site uses Akismet to reduce spam. Learn how your comment data is processed.