The Fraudster's Guide to Magic Money
Cautionary Tales with Tim Harford
Amazon's Success and Avoidance of Ponzi Scheme
Amazon's success story distinguishes it from a Ponzi scheme due to transparency and eventual productive outcome. Unlike a Ponzi scheme, Amazon was honest about its financial status and operations, with no element of deception or fraud. Additionally, the investments made in Amazon eventually turned into a profitable and sustainable business, ensuring that all investors could be paid back. The faith and trust of early investors in Amazon's vision and potential were pivotal in its eventual success, highlighting the importance of transparency and belief in a business's long-term prospects.
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