
3 money lessons from infamous scam artists | J Mase III
TED Business
Exploring Money Lessons Through Scam Artists
Exploring the influence of storytelling in financial endeavors through the lens of scam artists and grant applications, with insights drawn from the intriguing story of Elizabeth Holmes and Theranos' massive valuation despite product failure.
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Speaker 2
On Working Smarter, hear practical discussions about what AI can do so that you can work smarter too. Listen to Working Smarter on Apple Podcasts, Spotify, or wherever you get your podcasts. Or visit workingsmarter.ai. This episode is brought to you by Progressive. Are you driving your car or doing laundry right now? Podcasts go best when they're bundled with another activity. Like progressive home and auto policies, they're best when they're bundled too. Having these two policies together makes insurance easier and could help you save. Customers who save by switching their home and car insurance to Progressive save nearly $800 on average. Quote a home and car bundle today at Progressive.com. Progressive casualty insurance company and affiliates. National average 12 month savings of $793 by new customer surveyed who saved with Progressive between June 2021 and May 2022. Potential savings will vary.
Speaker 4
Hi, I'm Alexis O'Hanyan. You may know me as one of the co-founders of Reddit, but more recently. A large part of my identity is being a father to my wonderful daughters. In my podcast, Business Dad, I hope to open the conversation about working parents a bit. You'll get to hear from a wide range of business dads from Rainn Wilson, Guy Raz, to Todd Carmichael, and Shane Batty-A to find out how they balance being a dad with a successful career. Business Dad is available now, so be sure to listen and subscribe wherever you get your podcasts.
Speaker 5
I'm here
Speaker 1
to share a truth with you. And so I am ready to share my truth. And the truth is I love scam artists. I mean, I don't love scam artists. I love learning about them. I love reading books about them, watching documentaries about them. I love learning about the Tele Shopping Queen, Bono Marquis in Italy. I like learning how to avoid creeps like Simon Levine, the Tinder Swindler. I even liked watching both fire festival documentaries the day they came out and have listened to every single radio edit of every Billy McFarland interview that exists in this dimension. I'm obsessed. And I think we can all learn a lot from scam artists. You know, not like how to live your life or something, but specifically how money functions in our society. So if you're ready to go on this journey with me, today I would like to teach you money lessons from famous scam artists. Yeah. Yeah. Yeah. So how did I get here? Well, I'm an artist, you know, minus the scam part. I'm a poet and a filmmaker specifically. And when I started my arts journey full time over a decade ago, I was unprepared for the amount of grants I'd have to write. But it turns out that a lot of being a professional artist is fundraising for your own salary. So I got good at grants. I got so good at grants, I started writing grants for other people. And one year alone, through writing grants for folks, running people's fundraising campaigns, supporting mutual aid efforts, I was able to help move $1.3 million directly into the hands of Black trans individuals and organizations. Thank you.
Speaker 5
I started
Speaker 1
consulting with philanthropic organizations on the best way to support targeted communities, and I teach reparations frameworks all across the country. So I know why people give money. And honestly, a lot of it is great storytelling and scam artists are really good at spinning a narrative. Now, the first famous scam artist I'd like to tell you all about is the infamous Elizabeth Holmes. So Elizabeth Holmes, who founded Theranos, was able to rake in about a $9 billion valuation for a product that didn't even work. For those of you that don't remember, Elizabeth Holmes, because you somehow, I don't know, missed the competing podcast, the book, the documentary, and the very public trial, let me remind you who she is. So she started Theranos under the premise that they would be creating a device that could read hundreds of medical tests through a single drop of blood.
Scam artists know something about money that you don't — and artist J Mase III is here to shed some light. He shares examples of infamous scams from Elizabeth Holmes's false medical tech promises to Anna "Delvey" Sorokin's fake trust fund, along with three crucial lessons on how money functions for the wealthy, why it flows in the direction it does and how to start spotting scams in your own life. After the talk, Modupe shares what we can learn from scam artists to overcome imposter syndrome.
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