Crypto Crash Part I: The Case Against Crypto
Plain English with Derek Thompson
The Ringer
4.7 • 2.1K Ratings
🗓️ 25 July 2022
⏱️ 50 minutes
🔗️ Recording | iTunes | RSS
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| 0:00.0 | What's up everybody? Are you tuning in to the Challenge USA on CBS? |
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| 1:16.6 | Today, we have the first in a two-part series on lessons from the crypto crash. |
| 1:23.3 | Crypto, also known as Web3, also known as blockchain-based technologies, |
| 1:29.1 | remains the weirdest space I've ever reported on. I've never learned so much about a topic |
| 1:36.1 | where there were people I trusted roughly equally, whose intelligence I trusted, roughly equally, |
| 1:42.6 | coming to totally different positions about a single thing. I know people I consider brilliant |
| 1:47.5 | who think that crypto is the way of the future. I know others who are fairly positive, |
| 1:52.1 | that the bulk of this space is a giant Ponzi scheme. I know people who think that the bulk of this |
| 1:56.7 | space is worse than a giant Ponzi scheme. Tomorrow, in part two, you're going to hear from |
| 2:04.0 | Packing McCormick, a fun and popular Web3 writer who spars with me about why crypto still, |
| 2:10.4 | after a mild wipeout, could be an important tech platform. But today, we hear from a wise skeptic. |
| 2:17.2 | Molly Wood is a financial journalist turned venture capitalist. She also hosts the podcast |
| 2:22.8 | this week in startups. And today, we talk about the case against crypto. I would summarize Molly's case |
| 2:30.7 | in three main points. Number one, it is a double enemy of the environment. Crypto is an |
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