4.8 • 786 Ratings
🗓️ 24 October 2021
⏱️ 12 minutes
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0:00.0 | Welcome back to The Breakdown with me, NLW. |
0:09.1 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
0:16.2 | The breakdown is sponsored by Nidig and produced and distributed by CoinDes. |
0:22.6 | What's going on, guys? It is Sunday, October 24th, and that means it's time for Long |
0:28.0 | Reads Sunday. And today we have a fun one for you guys. So, our story starts in 2015. |
0:35.8 | Well, really, it starts in the seven years before 2015 as one of hip-hop's |
0:40.8 | most legendary ensembles secretly recorded an album that they called Once Upon a Time in Shaolin. |
0:48.6 | Yes, of course, I'm speaking of the Wu Tang Clan. So they had secretly been recording this album for seven years, |
0:55.1 | and in 2015, instead of releasing it as normal, they held an auction. There would be only one |
1:01.5 | copy of this album, and it was going to be auctioned off. Now at the time, there were two very |
1:06.5 | strong takes on this. The first held that this was some bullshit elitist art stunt. The second was that |
1:13.2 | it was a perfect skewering of the way that digital and streaming has eroded musical value. |
1:19.4 | For my part, I believe that it could have simply been that cash ruled everything around them. |
1:24.4 | And in either case, if one thing has ever been true, it's that Wu-Tang Clan ain't |
1:28.6 | nothing to f*** with. Whatever the real story is, baby Dr. Evil pharma exec, Martin Shikrelli, |
1:33.9 | won the auction for $2 million and took this incredible piece of culture with him in his much-hated |
1:40.7 | hands. Now, for those who aren't familiar with this comic book villain, he was a hedge funder |
1:46.1 | and pharmaceutical exec who acquired a drug called Deriprim, which had an expired patent but no generic |
1:51.8 | version. This drug was used as an anti-malarial and an antiparic drug, and was used treating |
1:57.2 | both AIDS-related and non-AIDS-related toxoplasmosis. After his firm bought this drug, |
2:02.6 | they jacked the price from $1350 a pill to $750 a pill overnight. It's way beyond the scope |
2:09.4 | to dig into all of the elements of this here, but the key thing, again, is that it was a bummer |
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