Sankara

“Many Internet IPOs rose 1,000% or more in 1999 and early 2000; most of them lost more than 95% in the subsequent three years. How could these early gains earned by a few investors justify the massive destruction of wealth suffered by the millions who came later? Many IPOs were, in fact, deliberately underpriced to “manufacture” immediate gains that would attract more attention for the next offering.”
― Benjamin Graham, The Intelligent Investor

“why rich people like wine so much: “It’s the most consistently reliable way that they can convert money into happiness.”
― Priceonomics, Everything Is Bullshit: The Greatest Scams on Earth Revealed

“Those that benefit from the taxi medallion system have been protected for 80 years. In that time, they abused taxi drivers and produced a crappy product. Ride-sharing apps should be allowed to take over the market — until they too are disrupted by self-driving cars. And so it goes.”
― Priceonomics, Everything Is Bullshit: The Greatest Scams on Earth Revealed

“Orthodoxy means not thinking—not needing to think. Orthodoxy is unconsciousness.”
― George Orwell, 1984