IN DEBT WE TRUST

The first IPO was basically a public breakup: “We’re growing apart, also please invest.”

✗ FAKE
An IPO is when a private company first sells shares to the public to raise capital. It is not a public breakup, although the line is a joke on the process.

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The first index fund was created by someone allergic to opinions. Passive investing: introvert finance.The largest Ponzi scheme in history was operated by Bernie Madoff, totaling $65 billion. Wall Street’s most expensive magic trick.The first wallet was designed to be thin so you’d feel poor faster. Motivation via sadness.The first financial rule was “don’t panic.” Finance immediately panicked and built an industry around it.The first salary negotiation was a duel. HR later replaced swords with spreadsheets for “culture.”The first “exit” was invented because founders wanted to leave the group chat called responsibility.See all In Debt We Trust facts →

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