Economics/Class Relations

‘I got away with working from Vegas’

January 11, 2023
Hello, Insiders. The main way to make money with crypto has been to own some and see its value go up. But there’s an entire side industry around people buying crypto — and then lending it for guaranteed returns. And why were startups like FTX and Gemini so willing to give customers big returns? Two main reasons.

 

First, it’s just like how a bank gives you interest on cash: The companies borrowing crypto thought the market was going to keep going up and they’d be able to keep paying. Secondly, paying out such high interest attracted a ton of new customers. That made investors willing to give those startups huge valuations — making founders rich.

 

People say the crypto market is a house of cards, but to me, it’s more like a champagne pyramid built on a house of cards built on sand. It’s … precarious. Now, with that, let’s get started.

 

— Nicholas Carlson

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Gen Z is souring on Democrats.

 

Gen Z voters may have helped Democrats thwart the so-called “Red Wave” in November, but surveys of these young voters suggest that they aren’t so sold on the party itself.

 

For one thing, Gen Z isn’t convinced by the whole idea of party politics. According to a survey from Pew, nearly half of young voters wished there were more political parties with viable candidates.

 

Furthermore, a survey from the University of Texas-Austin and polling firm CollegePulse found about half of Gen Z college students said they were feeling less positive about the Democratic Party compared to a year ago. Meanwhile, only 12% said they were feeling more positive.

 

And young voters who lean Democrat have less faith in the future of their party compared to their conservative counterparts.

The bottom line? Democrat Party leaders should be worried. To stay in Gen Z’s good graces, they need to meaningfully address issues that young voters care about, like climate change, civil rights, and, of course, college affordability and student loans.

READ THE FULL STORY HERE
 

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This edition was curated by Nicholas Carlson, and edited by Hallam Bullock, Lisa Ryan, Dave Smith, Nathan Rennolds, and Joe Ciolli. Get in touch: insidertoday@insider.com.

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