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Nov 22, 2022Liked by David Phelps

Another side effect: many of the early investors who took money off the table (unclear if due to sense or not) ended up mentally, unfairly rich - post-aristocrats and pirates, they were some of the first non-aristocratic billionaries of their day. I didn't realise this until I moved to the US to work for [tech billionaire] and I kept coming up against 4th generation billionaire families who owned philanthropy or at least one version of it. Who took money off the table early with FTX and broader crypto? What will they do with it? Because I ran a dinner with next gen billionaire families and a Gen Z whose great-great-grandfather got rich on the railways told me his most ethical investment was Juul.......

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