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Part 1: Pomp On Balaji's 90 Day Bitcoin Bet, Digital Catastrophes, And Failing Banks
My First Million
The Digital Catastrophe
In the old days, what you would have to do in order to have a bank run is like Sean would walk over to Sam's house and be like, yo, did you hear like the banks probably not doing so hot? Now, you can literally open a new tab on your browser, click a couple buttons and move your money. The speed of information, the speed of action online has real world consequences. In 48 hours, it was the second largest banking failure in the United States history.
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