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Ben McKenzie

๐Ÿ‘ค Speaker
252 total appearances

Appearances Over Time

Podcast Appearances

The Vergecast
Ben McKenzie vs. crypto

So could you win at Vegas?

The Vergecast
Ben McKenzie vs. crypto

But if you play long enough, on average, you're losing.

The Vergecast
Ben McKenzie vs. crypto

Because again, how do they keep the lights on in the casino?

The Vergecast
Ben McKenzie vs. crypto

They're lying to you for money.

The Vergecast
Ben McKenzie vs. crypto

And what's different about Wall Street, I mean, look,

The Vergecast
Ben McKenzie vs. crypto

I could defend all of Wall Street or all of the financial industry because there's obviously a ton of grifters there too.

The Vergecast
Ben McKenzie vs. crypto

But crypto really is fundamentally, and gambling, is fundamentally different from the stock market because the stock market is a positive sum game.

The Vergecast
Ben McKenzie vs. crypto

the money that investors invest, uh, buy, uh, pay for stocks goes to the companies, at least some of it, uh, the stock that's issued by the companies, they take that money and they can invest in their companies.

The Vergecast
Ben McKenzie vs. crypto

They can make more stuff, provide more goods and services, which theoretically benefits us all, right?

The Vergecast
Ben McKenzie vs. crypto

Rising stock price, more stuff to buy, uh,

The Vergecast
Ben McKenzie vs. crypto

Everybody wins.

The Vergecast
Ben McKenzie vs. crypto

Investors win, company wins, society wins.

The Vergecast
Ben McKenzie vs. crypto

I'm not saying it's perfect.

The Vergecast
Ben McKenzie vs. crypto

Obviously, there's lots of caveats to that, but that is how it's supposed to work.

The Vergecast
Ben McKenzie vs. crypto

That is how it has historically worked overall, right?

The Vergecast
Ben McKenzie vs. crypto

Crypto can't do any of that because it's not a positive sum game.

The Vergecast
Ben McKenzie vs. crypto

It's a zero sum at best game, really negative sum game.

The Vergecast
Ben McKenzie vs. crypto

By the way, the thing that I should mention is like,