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The James Altucher Show

Almost Every Industry in the world is a Scam! with Dan Kelly and Omid Malekan

The James Altucher Show

James Altucher

Education, Business

4.62.7K Ratings

🗓️ 9 July 2022

⏱️ 31 minutes

🧾️ Download transcript

Summary

Before we were supposed to tape the third episode of Wall Street Insane (if you haven't listened to the new series, make sure you go back and check it out!), Jay Yow, The Producer of The James Altucher Show, was talking about how Uber is losing money, how come are they still around, and what would happen if Uber fall?So, Dan Kelly, my business partner, and Omid Malekan, author of Re-Architecting Trust: The Curse of History and the Crypto Cure for Money, Markets, and Platforms break down their business model, and we started talking about how almost every area in the financial industry are scams.We also talked about the entertainment industry, the sporting industry, and how VC is involved in almost all these industries as well!Listen to this episode, and let me know or tweet at me (or Jay) @jaltucher or @jay_yow07 on Twitter if you like this kind of round table conversation, and we might tape more of this kind of conversation!Visit Notepd.com to read more idea lists, or sign up and create your own idea list!My new book Skip The Line is out! Make sure you get a copy wherever you get your new book!Join You Should Run For President 2.0 Facebook Group, and we discuss why should run for president.I write about all my podcasts! Check out the full post and learn what I learned at jamesaltucher.com/podcast.Thank you so much for listening! If you like this episode, please subscribe to "The James Altucher Show" and rate and review wherever you get your podcasts:Apple PodcastsStitcheriHeart RadioSpotifyFollow me on Social Media:YouTubeTwitterFacebook ------------What do YOU think of the show? Head to JamesAltucherShow.com/listeners and fill out a short survey that will help us better tailor the podcast to our audience!Are you interested in getting direct answers from James about your question on a podcast? Go to JamesAltucherShow.com/AskAltucher and send in your questions to be answered on the air!------------Visit Notepd.com to read our idea lists & sign up to create your own!My new book, Skip the Line, is out! Make sure you get a copy wherever books are sold!Join the You Should Run for President 2.0 Facebook Group, where we discuss why you should run for President.I write about all my podcasts! Check out the full post and learn what I learned at jamesaltuchershow.com------------Thank you so much for listening! If you like this episode, please rate, review, and subscribe to "The James Altucher Show" wherever you get your podcasts: Apple PodcastsiHeart RadioSpotifyFollow me on social media:YouTubeTwitterFacebookLinkedIn See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0

This isn't your average business podcast and he's not your average host.

0:06.8

This is the James Altiger show.

0:14.0

Is it because Elon said he was going to accept Dogecoin?

0:17.8

No, I'm talking about you people about it this morning that everyone got bearish.

0:24.7

Like no one was expecting a rally.

0:27.4

At that point I was like maybe the path of least resistance was up.

0:31.6

And one of my friends was like, yeah, I'm in this like 100% crypto investing telegram

0:37.5

group and no one's talked about crypto investing for days.

0:40.8

There's been like a debate about religion.

0:43.3

Yeah.

0:44.3

I mean, I think the capitulation point was essentially everyone sort of universally

0:50.2

agreed that there's no actual use case for Bitcoin and Ethereum and all these coins.

0:55.9

And so and on top of that, there's all these liquidations of hedge funds were liquidating

1:01.3

and all this stuff.

1:02.3

So everybody's sold.

1:03.8

There was no anybody still holding is a believer now.

1:07.0

And there's probably just a flight to cash in general with the global market situation.

1:11.8

Not even.

1:12.8

But I think that's the going on for six months now.

1:14.6

Maybe.

1:15.6

Yeah.

1:16.6

Yeah, the liquidations were.

...

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