Wolf writes up yet another stupid Venture Capitalist trick that failed AS INTENDED, leaving the insiders vastly richer and the public shareholders broke.
This specific trick was a small Calif wine company that went on an “acquisition spree” during the time of free counterfeit, then crashed when Powell restored real business.
I can’t understand the sucker who buys into an OBVIOUSLY NONSENSICAL overcomplex proposition like this. Bitcoin is aimed at the same sucker type. There are plenty of suckers who will be wowed by a 900-layer abstraction, and there are plenty of swindlers like Balaji and the Two Sammies who know how to construct such abstractions.
I’m an Ockham simplifier. I’ll fall for an overly simple proposition.
Two of the commenters gave insight into the mentality that buys this shit, from the viewpoint of wine itself.
Comment from complexifier:
I’ve heard of them. Love B.R. Cohn, although I’ve only bought wine at their vineyard. Buried Cane is Anthony’s (PNW seafood chain) house Chardonnay. It’s very good, lightly oaked, and no or maybe partial malolactic. Comparable to the B.C. Okanogan Chardonnays in my opinion.
Reply from a simplifier:
Wine is wine is wine. It’s just old crushed grape juice gone bad. Whatever happened to Trader Joe’s 2 Buck Chuck?
There’s the Sucker Filter in broad daylight. Using wine as the target of the fraud pulled in complexity fans who think lightly oaked and partial malolactic are real things.
Polistra's Mill 