TED Business 3 money lessons from infamous scam artists | J Mase III
May 27, 2024
Artist J Mase III discusses three money lessons from infamous scam artists like Elizabeth Holmes and Anna 'Delvey' Sorokin, highlighting how wealth flows, why scams work, and how to spot fraud. The podcast also explores overcoming imposter syndrome by learning from scam artists' confidence.
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Elizabeth Holmes and Theranos
- Elizabeth Holmes, founder of Theranos, achieved a $9 billion valuation for a blood-testing device that didn't work.
- Her investors justified their decisions with flawed reasoning, highlighting how wealth allows for more bad decisions.
Wealth and Bad Decisions
- Wealthy people are not inherently better with money; they just face fewer consequences for bad decisions.
- Unlike those with less, their mistakes can harm entire ecosystems.
Margaret and Walter King
- In the 1960s, Walter King gained fame for paintings actually created by his wife, Margaret.
- Exploiting her gender, he took credit and profited from her art.