#bezzle — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #bezzle, aggregated by home.social.
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@GeofCox @RustyBertrand @sciencefiction @bookstodon
The above post needs a #bezzle tag and maybe ping @pluralistic
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CW: Long thread/5
#10yrsago #Elsevier censors self-publication by papers’ co-authors https://svpow.com/2013/12/06/elsevier-is-taking-down-papers-from-academia-edu/
#5yrsago #Uber is a “#bezzle,” doomed to disappoint the suckers who buy into its IPO https://nymag.com/intelligencer/2018/12/will-uber-survive-the-next-decade.html
#5yrsago Argentine hacker mods #Furby so it quotes #Borges, creates a “Borgy” https://www.youtube.com/watch?v=6jlDL-j9upg
#5yrsago Merry Mixmas! It’s time again for DJ Riko’s badass Christmas mashup http://djriko.com/mixmases.htm
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#Chrome is basically an advertising #bezzle
Do yourself a favour, and use a browser that's not basically a vehicle for the world's biggest advertising platform to harvest and sell your browsing history.
Don't alter your settings. Just bin that trash.
Use Firefox, Arc, Safari, Edge. Not Brave, because Eich's a twonk.
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When it comes to the modern world of #enshittified, terrible businesses, no addition to your vocabulary is more essential than "#bezzle," #JKGalbraith's term for "the magic interval when a confidence trickster knows he has the money he has appropriated but the victim does not yet understand that he has lost it"
https://pluralistic.net/2023/08/09/accounting-gimmicks/#unter
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#Bezzle (n):
1. "the magic interval when a confidence trickster knows he has the money he has appropriated but the victim does not yet understand that he has lost it" (#JKGabraith)
2. #Uber
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If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
https://pluralistic.net/2023/08/09/accounting-gimmicks/#unter
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CW: Long thread/15
In other words, the Venture Predator constructs a pile of shit so large and impressive that investors are convinced that there must be a pony under there somewhere.
There's another name for this kind of arrangement: a #Bezzle, which #Galbraith described as "the magic interval when a confidence trickster knows he has the money he has appropriated but the victim does not yet understand that he has lost it."
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CW: re: "crypto" "currency"
@scanlime This tends to be common to pretty much all investment-type scams.
The scammer goes into detail about how one specific edge failure case or advantage is avoided / instantiated. But fails to paint the bigger picture.
I'm not sure this is entirely intentional. Often scammers may be deceiving themselves, and there's a Darwinian selection process by which effective scams fight it out amongst each other to survive.
The tendency is well-established. I'd run across mention of it in John Kenneth Galbraiths excellent, brief, highly-readable, and extremely informative The Crash: 1929, on the Wall Street crash leading to the Great Depression.
That's also where the concept of the #bezzle is introduced, a favourite concept of mine and apparently @pluralistic based on his numerous references to same.
