3 money lessons from infamous scam artists | J Mase III
TED Business
TED
4.0 • 1.3K Ratings
🗓️ 12 June 2023
⏱️ 18 minutes
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Summary
Scam artists know something about money that you don't -- and artist J Mase III is here to shed some light. He shares examples of infamous scams from Elizabeth Holmes's false medical tech promises to Anna "Delvey" Sorokin's fake trust fund, along with three crucial lessons on how money functions for the wealthy, why it flows in the direction it does and how to start spotting scams in your own life. After the talk, Modupe shares what we can learn from scam artists to overcome imposter syndrome.
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| 0:00.0 | Finish for the day? |
| 0:01.5 | While you get ready to binge shows all night, |
| 0:03.9 | your watch is going to remind you the best time to wind down for a good night's sleep. The new Samsung Galaxy Watch 8 is the ultimate health coach, powered by AI. Save £114 pound with the Galaxy Watch 8 at Vodafone on a 24-month connectivity plan, ordered by the 2nd of September. Visit your local Bromley, the Glades, Vodafone store today. Saving against connectivity and device, eligibility, credit checks in terms of apply. |
| 0:23.7 | Compatible smartphone, Vodafone airtime plan, Samsung accounts and health app required. |
| 0:26.7 | Sleep tracking is intended for general wellness only. |
| 0:33.6 | Imagine New York City in the 90s. |
| 0:37.7 | There was hustle and bustle everywhere. |
| 0:41.3 | You had people selling you stuff on the street from watches to fake Gucci bags and newspapers, candy. |
| 0:48.6 | People sold CDs and asked you to listen to their demos. |
| 0:52.6 | My favorite was the guy on the corner with three playing cards in his hands, let's say |
| 0:59.8 | an Ace of Spades and a couple of others. |
| 1:03.2 | He'd show you the cards, then turn them face down and shuffle frantically. |
| 1:09.0 | When it was all done, your job was to try to point out the ace. |
| 1:14.6 | And if you got it right, you'd get $20. |
| 1:17.6 | And if you got it wrong, he'd get $20. |
| 1:21.6 | This game is called Three Card Monty. |
| 1:25.6 | Now we all know three card Monty is a scam. Players are tricked into |
| 1:31.2 | thinking they can guess the right card, but in reality, they have no chance whatsoever of winning. |
| 1:38.4 | And yes, I'll admit, I felt victim to this once. Don't judge me. It all seemed so easy. Most of us at some point |
| 1:48.8 | have been a victim of scams like this or worse, whether it be on the street, online, or elsewhere. |
| 1:56.1 | Scam artists are everywhere. So why do these scams really work? And what can we actually learn from |
| 2:04.2 | them? I'm Madupa Akinaola. This is Ted Business. Our speaker today is poet, filmmaker, and |
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