The Daily A Conversation With a Dogecoin Millionaire
May 14, 2021
Kevin Roose, a New York Times technology columnist, chats with Glauber Contessoto, a Dogecoin investor who transformed a $250,000 bet into nearly $2.5 million. They discuss the wild rise of Dogecoin from meme to investment staple, and the cultural phenomena driving its popularity. Glauber shares his journey as a creative navigating financial struggles in LA and the thrill of investing amid the GameStop surge. Their conversation highlights the risks of speculative investing and reflects on a new generation's quest for wealth beyond traditional paths.
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Glauber's Housing Struggle
- Glauber Contessoto, a 33-year-old from a poor background, struggled to buy a house in LA despite working hard and saving.
- He faced rejections from mortgage companies and cash-only offers, highlighting the challenges of the American dream.
GameStop Inspiration
- Inspired by the GameStop frenzy, Glauber sought alternative investment paths.
- Although he lost money on GameStop, he learned how some made millions, sparking his interest in Dogecoin.
Attention-Driven Investing
- Glauber's investment strategy focused on online attention and momentum, not intrinsic value.
- He believed that cultural trends and internet popularity drive market value, diverging from traditional financial advice.