The financial crisis was caused by sloppy modeling, a systematic mispricing of mortgage default correlation and exploitive mortgage lending. Dorset wraps up financial engineering with the term “abstraction,” but that is too easy.
Also there’s nothing inherently “social” about an exchange of fungible value. Square is “social” because that’s how they justify that gazillion dollar valuation.
Great talk. Thanks for sharing!
The financial crisis was caused by sloppy modeling, a systematic mispricing of mortgage default correlation and exploitive mortgage lending. Dorset wraps up financial engineering with the term “abstraction,” but that is too easy.
Also there’s nothing inherently “social” about an exchange of fungible value. Square is “social” because that’s how they justify that gazillion dollar valuation.