"Upstream" with Erik Torenberg cover image

E54: Naval Ravikant and Balaji Srinivasan on Why History Points to Crypto

"Upstream" with Erik Torenberg

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Everyone as an Investor: A Global Learning Curve

In a world where everyone is an investor, the society appears like a giant casino where people easily lose money due to scams and lack of knowledge. This phase is considered as a learning curve for individuals, similar to how the Securities Act differentiated between legitimate and non-legitimate stocks in the past. The recent downturn in the crypto market, with significant value loss, is seen as positive as it teaches people about the risks of blindly trusting online information. This experience is expected to enhance diligence levels and eventually lead to the emergence of a more mature investment market. Despite the current scenario resembling a casino, it is viewed as a necessary phase towards a more stable investment environment.

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