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Money Talks from The Economist

Money talks: ICO Bubble with benefits

Money Talks from The Economist

The Economist

Finance & Economics, Business News, Economy, News, Business

4.41.2K Ratings

🗓️ 7 November 2017

⏱️ 18 minutes

🧾️ Download transcript

Summary

Our Technology Editor, Ludwig Siegele, says that despite the froth, Initial Coin Offerings could challenge the dominance of the tech giants.  Also, will Venezuela finally default on its debt and how are markets reacting to the arrest of the Saudi Warren Buffet? Simon Long hosts.

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Transcript

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0:00.0

Calling eco-conscious leaders give your people a benefit that will really electrify their life.

0:05.6

With octopus electric vehicles, your people get an EV through salary sacrifice

0:10.4

and save up to 40% on the cost. Even better, the car, charger and energy are all

0:16.5

included. Plus a load of extras. Let octopus electric vehicles smooth the road

0:21.2

ahead and make your team switch to electric driving as simple as possible.

0:25.7

Head to octopusevo.com to get started today. Hello I'm Simon Long, the finance editor of The Economist and this is Money Talks.

0:42.0

Coming up this week, what kind of reception

0:44.8

will Venezuela's debt proposal receive?

0:47.2

Probably ice cold, certainly from creditors

0:51.2

who have anything to do with the United States.

0:54.0

And why has Prince Alawa lead the rest to baffled markets?

0:57.0

This is pretty unprecedented in any Arab monarchy.

1:00.0

This is really monumental, a change in business practice in the kingdom for decades.

1:04.7

But first, bubbles.

1:09.2

Like the South China Sea bubble and the dot-com bubble,

1:13.2

there's one in the world of ICOs, initial coin offerings.

1:17.3

People are buying tokens in companies with

1:19.3

bit coins or ether, and this market has exploded, but with what consequences.

1:25.0

Ludwig Ziegler are technology editors here.

1:28.0

Ludwig, let's describe the scope of the bubble to start with how big is it and what sort of things are going on.

1:34.0

I mean it's actually relatively small I should say it's like free billion dollars

1:39.6

have been raised using ICOs and to put that in in perspective that's perhaps 2% of

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