Plain English with Derek Thompson Crypto Crash Part I: The Case Against Crypto
8 snips
Jul 25, 2022 
Molly Wood, a financial journalist turned venture capitalist and host of 'This Week in Startups', shares her critical view on cryptocurrency. She argues that crypto is a significant environmental threat and highlights its unregulated nature, which invites Ponzi-like schemes. Molly also points out the disparity between crypto's grand promises and its actual use cases. With recent scandals like the insider trading case at Coinbase, she emphasizes the urgency of addressing these issues while exploring the potential evolution of the financial landscape.
AI Snips
Chapters
Transcript
Episode notes
Silicon Valley FOMO
- Molly Wood, having experienced the dot-com boom, notes the recurring FOMO in Silicon Valley.
- Despite knowing a bust is inevitable, the overwhelming hype makes it hard to resist the urge to participate.
Crypto's Correlation with Stock Market
- Initially, the crypto downturn seemed isolated due to its decentralized nature.
- However, it quickly revealed a correlation with the stock market, implying the same investors were involved in both.
Crypto vs. Climate
- As a climate tech investor, Molly Wood views crypto as an enemy due to its energy-intensive nature.
- She finds it concerning that vast amounts of money are poured into something that exacerbates environmental problems.