All posts tagged: Ponzi

The AI Economy Is “Propped Up by a Ponzi Scheme,” Says Director of ‘The AI Doc’

The AI Economy Is “Propped Up by a Ponzi Scheme,” Says Director of ‘The AI Doc’

“Fuck them. Utah just became 35% culturally less relevant, and good riddance to them. They don’t deserve it. Moving on, over and next.” Those were among the first words out of director Daniel Roher’s mouth as he sat down with his codirector, Charlie Tyrell, at this year’s Sundance Film Festival to discuss their film The AI Doc: Or How I Became an Apocaloptimist. Roher, who won an Oscar for best documentary feature for 2022’s Navalny, is opinionated—not just about the festival moving from Park City to Boulder, but on a whole host of topics. But he views himself as an “apocaloptimist”—that’s “apocalypse” plus “optimist”—when it comes to artificial intelligence, meaning he doesn’t think it will destroy the world. As optimists go, he could be pretty biting as we chatted in a private room at Old Town Cellars on Park City’s Main Street. Focus Features is releasing The AI Doc in theaters on March 27. If you’re even slightly interested in what’s going on with AI, it’s required viewing: The film touches on all aspects of …

Trump Jr. calls banking Ponzi scheme, touts stablecoin

Trump Jr. calls banking Ponzi scheme, touts stablecoin

Donald Trump Jr. on Wednesday called traditional banking a “Ponzi scheme” that effectively forced the Trump family to start its crypto venture World Liberty Financial after banks closed the family company’s accounts in early 2021. “You know, we didn’t get into crypto because we were on the leading edge,” Trump Jr. told CNBC’s Sara Eisen on “Squawk on the Street” during an interview Wednesday at the World Liberty Forum. “We got into it out of necessity,” Trump Jr. said at the event that is being held at the Mar-a-Lago club owned by his father, President Donald Trump, in Palm Beach, Fla. “They basically forced us into it.” Donald Trump Jr. (L) and Eric Trump speaking on Squawk on the Street on Feb. 18th, 2026. CNBC He and his younger brother Eric Trump blamed traditional banks for booting the Trump Organization’s hundreds of bank accounts on the heels of the Jan. 6, 2021 riot, during which supporters of his father stormed the U.S. Capitol while claiming the 2020 election results were invalid. The brothers said banks …