Economics/Class Relations

I got paid to not work for 2 months

January 9, 2023
Good Monday, Insiders. This week, I’m going to use this space to explore the state of crypto. Why? Well, it seems to me we are at a major crossroads: the whole market could potentially go the way of the dotcom bust. Interest rates are up. Central banks are doing all they can to end the era of easy money and inflation. Fraudsters are getting exposed. Trading volume is tanking, and so is the market and the valuations of startups built around it.

But crypto bulls will shout that they’ve been through “winters” like this before. And they’re right. Maybe 2023 will end with digital currencies and the blockchain proving their resiliency in the face of skeptics once more. So, how about we dig in and figure out what we think? As always, I want to hear from you: insidertoday@insider.com. But now, the news.

 

— Nicholas Carlson

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The latest
The big story
Chad Kirkland/Bravo; Rebecca Zisser/Insider
“Real Housewife” Jen Shah was just sentenced to 6 1/2 years in prison. Here’s how her fabulous life came crashing down.

 

The scene was reality-TV gold: Jen Shah of “The Real Housewives of Salt Lake City” was headed to a ski weekend with her castmates. It was March 2021. Shah answered a phone call. Flustered, she asked a castmate to turn off her mic and climbed out of the van. She drove away.

 

Moments later, a helicopter appeared. Homeland Security agents and New York City Police Department officers swarmed the van. The officers were looking for Shah.

 

“You guys, what if she’s on the run?” one castmate asked.

 

Shah, 49, had a persona of excess on the show: “I make millions,” she bragged in a casting tape. “I probably spend at least 50 grand a month.” (She later clarified on a podcast that the $50,000 was just for clothing.)

On Friday, she was sentenced after pleading guilty to conspiracy to commit wire fraud in connection with a telemarketing scam targeting elderly victims. As she said at her sentencing, “Reality TV has nothing to do with reality.”

 

READ THE FULL STORY HERE
 

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Getty; Marianne Ayala/Insider
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Take a look
Sonny Tumbelaka/Getty Images
A Boeing 737 is being turned into a luxury villa in Bali. It’s set to open to guests in March 2023, with stays starting at about $7,300 a night. Check it out.
Watch this
After 15 tries, Republicans elected Kevin McCarthy as the speaker of the house on Friday night. Watch here.
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This edition was curated by Nicholas Carlson, and edited by Hallam Bullock, Lisa Ryan, Dave Smith, and Nathan Rennolds. Get in touch: insidertoday@insider.com.

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