The Crypto Blow-Up (EP.283)
Animal Spirits Podcast
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The Risk Equivalent of a Junk Bond
In defense of ourselves, I would say that why do we have zach on? I don't know five times six times something like that But he was a sane voice in a sea of maniacs. We had asked him in terms of like the yield product What are the risks involved? And I think that we described it as the risk equivalent of a junk bond Obviously, we didn't take it far enough because this in hindsight turned out to be Way way way riskier thanBecause junk bond junk bond compared to the stock market is kind of like crypto is like the stock market on meth So junk bond times a thousand basically that's definitely on me for making that comparison.
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