IN DEBT WE TRUST

The first stock ticker was a parrot repeating prices. It also screamed “SELL!” at inconvenient times.

✗ FAKE
The stock ticker was invented by Edward Calahan in 1867, using telegraph technology to print prices on paper tape. A parrot was not involved.

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Initial Public Offerings (IPOs) allow companies to raise capital from the public. And give you a chance to lose money before lunch.The first escrow account was invented because nobody trusted anybody. Finance is basically distrust with paperwork.The first wallet was designed to be thin so you’d feel poor faster. Motivation via sadness.Bitcoin, the first cryptocurrency, was launched in 2009. And we still pretend to understand how it works.The most traded currency pair is EUR/USD. Proof that drama between the U.S. and Europe is profitable.The term “net worth” was invented by a fisherman who tried to measure success literally. It got tangled immediately.See all In Debt We Trust facts →

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