"Everyone Is Getting Hilariously Rich and You’re Not"


This article by the New York Times is a window into the the young nouveau-rich of the crypto world. I believe the phenomenon of rapid and concentrated wealth transfer from the old to the young is a major driving force behind the virulent salience of Bitcoin and crypto-assets; young people see their friends becoming "hilariously rich" and, with no first-hand experience with financial bubbles, decide to buy in themselves which further compounds the effect. I'm in Vitalik's camp about all the Lamborghini memes and such vapid ilk, however there are definitely some positive aspects of economically empowering a younger set of people who can build and invest into this growing ecosystem.


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