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2min chapter
Carried interest wormhole
Planet Money
The Merchant of Pepper, a Traveling Merchant, Is Taking Lots of Risks
Francesca says that we can see carried interest really emerge in the commercial risky slurry. The pepper merchant, wet say he's been at this for 20 years and is starting to think do i really want to leave my family again? Plus, for the older, rich, back onshore merchant, this new arrangement does introduce a whole new kind of risk - complete incompetence ican just sell the goods and disappear from the face of the earth.
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