AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
6min chapter
Jim Chanos on Crypto, Tech and the Golden Age of Fraud
Odd Lots
The Fraud Cycle Follows the Financial Cycle With a Lapse
Fraud thrives in a bull market and the longer the business expansion, typically the worse the waves of fraud that are subsequently discovered. One way Silicon Valley companies flatters their financials is substantial share-based compensation. When your stock price was going up, you didn't have to issue as many shares for a given dollar level of compensation. Now that the stock is down, if your stock is down 80 or 90%, you have to just issue massive amounts of stock. So it becomes pro-cyclical to the downside as well.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode