The FT’s Rob Armstrong sits down with Tim Harford, host of the podcast Cautionary Tales, to discuss Ponzi schemes, how they spiral out of control and what differentiates them from bubbles — and from Amazon. Plus, we go long pyramid schemes and short, as usual, crypto. For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedofferCheck out Tim’s podcast, Cautionary Tales, and the full story on Sam Israel’s Ponzi scheme here.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.