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Stupidity or Corruption
Written by Steve | Published: |
I am not a gambling person but with the recent PowerBall prize money building up I was considering buying a ticket just to be silly.
When I got to the register I realized that I had no idea what I was doing or what to purchase and then asked Siri my odds and found that my chances of winning were 1 in 292.2 million.
So I kept my money and went on with my day.
Many people I speak with about growing wealth are still stuck in what I call the “lottery mentality”. They think their stock pick or crypto holding is going to go to the moon and then they can rest easy the rest of their lives.
Unfortunately, it just doesn’t work that way except for that 1 in 292.2 million.
I don’t have any problems with some speculation after appropriate financial building blocks, but I do have issues with straight up corruption trying to take advantage of others.
This last week a crypto currency exchange FTX blew up with a huge scandal.
I am going to post links to two YouTube videos where my friend Mark explains what was actually happening.
The legal teams and other professionals that are trying to unwind this are saying it is worse than Enron and the corruption is very deep.
When my potential clients can’t get away from the high or rush of the “lottery” type growth I let them know that we are not a good fit and will not move forward. Don’t get me wrong we earn plenty of growth but without the corruption and potential loss of a giant ponzi scheme.