The Ponzi threshold and the Armstrong principle
Junk Charts 2018-08-02
Summary:
Mark Palko writes of the Ponzi threshold: “sometimes overhyped companies that start out with viable business plans see their valuation become so inflated that, in order to meet and sustain investor expectations, they have to come up with new and increasingly fantastic longshot schemes, anything that sounds like it might possibly pay off with lottery […]
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