Financial Karma and the Fall of the FinTwit Bro Empire: Must-see Lessons about Constructive Paranoia
Financial Karma and the Fall of the FinTwit Bro Empire: Must-see Lessons about Constructive Paranoia  
Podcast: The Money with Katie Show
Published On: Wed Feb 08 2023
Description: From a controversial billionaire’s new title to lawsuits and arrests galore, 2021’s “Golden Age of Grift” (as dubbed by Jack Raines) officially transitioned to the Era of Financial Karma in 2022. In this week’s episode, we rattle off some of the most illustrative downfalls—those most emblematic of our new bearish economic environment. Do we indulge this walk down memory lane because we’re schadenfreude junkies? No, not quite—there’s a lot to learn from this most recent 24-month hype cycle, including some “regular people” lessons about financial fragility.Learn more about our sponsor, TaxAct: https://www.taxact.com/moneywithkatieTranscripts can be found at podcast.moneywithkatie.com.—Mentioned in the EpisodeThe Golden Age of Grift: https://youngmoneyweekly.substack.com/p/the-golden-age-of-griftTesla is Ringing in the New Year with a 10% Weekly Loss: https://www.marketwatch.com/story/tesla-is-ringing-in-the-new-year-with-a-10-weekly-loss-11673028845Andrew Tate on "Why Reading Makes You Look Stupid": https://www.youtube.com/watch?v=tyuMjpLrCLs&ab_channel=SirSicNick Maggiulli's Of Dollars and Data on Atlas Trading and Trading Games: https://ofdollarsanddata.com/trading-games/New York Post piece on G-Wagons: https://nypost.com/2022/11/28/crypto-bros-offloading-g-wagons-luxury-cars-amid-ftx-crash/Tesla's PE Ratio from 2010-2022: https://www.macrotrends.net/stocks/charts/TSLA/tesla/pe-ratio70% of Rich Families Lose Their Wealth by the Second Generation: https://money.com/rich-families-lose-wealth/Nick Maggiulli's Of Dollars and Data on The Double-Edged Sword: https://ofdollarsanddata.com/the-double-edged-sword/Sequoia Capital's Don Valentine: https://twitter.com/Lion_Investor1/status/1419833443953913867?lang=enA Third of Americans Earning $250,000/Year Are Living Paycheck to Paycheck: https://www.essence.com/news/money-career/high-earning-americans-living-paycheck-to-paycheck/—Follow Along at Money with Katie: https://moneywithkatie.com/Watch on YouTube: https://www.youtube.com/@MoneywithKatieFollow Money with Katie!- Instagram: https://www.instagram.com/moneywithkatie/- Twitter: https://twitter.com/moneywithkatie Subscribe to The Money with Katie Newsletter- Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2Follow the Brew!- Instagram: https://www.instagram.com/morningbrew/- Twitter: https://twitter.com/MorningBrew- TikTok: https://www.tiktok.com/@morningbrewLearn more about your ad choices. Visit megaphone.fm/adchoices This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.katiegattitassin.com