Unavoidable Pyramids

In the future, every business will be a Ponzi scheme for 15 minutes.

 
Last year, I published a theory that pyramid schemes are not just becoming more common — but also becoming more necessary. The piece was quoted and shared by analysts and reporters from The Financial Times, Bloomberg, and Wall Street Journal, and authors and thinkers such as Scott Alexander, Michael Batnick, and Morgan Housel.

I’ll provide the gist of the theory in a moment. But first, I’d look at some new evidence corroborating it. Yesterday, Ted Gioia published a piece that describes how music labels have lost the power to anoint stars. Gioia, a Music Historian, opens thus:

“With each passing month, record labels grow more attached to TikTok—but it now looks more like addiction. Some have reached the point where they won’t release an album until the music goes viral on TikTok.”

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Πηγή: drorpoleg.com