Sunday, November 13, 2022

Larry David, FTX, and hating to say "I told you so."


It's been eight months since I snarked on this commercial* and the idea that if you are a crypto skeptic, well, you're just one of those losers who throughout history have slowed the wheels of progress, failed to jump on the bandwagon when they saw it leaving the station, and any other cliche' for not recognizing a great deal when it was right in front of you.  All being sold to us by comedians, quarterbacks, actors and other people who have proven time and time again that they'll put their face on any product that will hand them money in return.

Well, what do you know- the value of a single FTX token, $47 at the time this ad was warning people who were just trying to watch the Superbowl that their chance to get rich quick was fading fast, was at $2.06 at the close of business Friday.  I'm sure that Larry David, Matt Damon, Tom Brady etc. barely noticed, even if they were dumb enough to take their blood money in this particular crypto currency, because money is falling out of their ears and taking the gig was probably at least as much about keeping their faces in front of the viewers as it was about the salary.  But what about the Regular Guys out there who bought in last February, perhaps by liquidating part of their sluggish-but-stable 401(ks) or shifting investments away from those boring blue chip stocks in the hope of cashing in on this bright, shiny object which, after all, was legitimate enough to be advertised during the most expensive night for advertising on the calendar?  I mean, a fool and his money- I get it- but this isn't funny anymore, is it?

(Oh, but check the comments- I don't see a single person angry at Larry David for pitching this scam.  Instead, we see a lot of "Larry David was right!" posts from people who are either so dumb that they think Mr. David was warning us against crypto or are just engaged in schadenfreude.)

Meanwhile, I guess I was "like Larry" in one respect:  I said "no thanks" to the "opportunity" to be part of "history" and buy FTX crypto.  In another life, I imagine I skipped out on the chance to get a discounted berth on the Titanic, too.  Just a stick in the mud, I guess. 

*Here's the original post, from April:

1 comment:

  1. All I need to know about Larry David is that Jason Alexander thought only a maniac would do what he does.