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Theories: | Theories: | ||
====Disbelief-suspenders==== | ====Disbelief-suspenders==== | ||
*'''Over-reliance on | *'''Over-reliance on “other adults”''': We imagine regulators/rating agencies are better resourced, more watchful, more powerful, more talented and less human than they are. **Examples: SEC on Madoff. FDA on Theranos. | ||
*'''The velvet rope''': the hoi polloi not welcome here. | *'''The velvet rope''': the hoi polloi not welcome here. Celebrities only. See also “I don't want your business oh go on then” | ||
*'''Affinity fraud''': He's one of us. | |||
*'''I don’t want your business''': ... Oh go on then, really, if you must, just as a favour to you, you understand. | |||
*'''Credibility''': Connection top political figures or well-regarded community pillars. If George Schultz is on the board the company must be legit, right? We imagine community pillars have done their due diligence on our behalf? | *'''Credibility''': Connection top political figures or well-regarded community pillars. If George Schultz is on the board the company must be legit, right? We imagine community pillars have done their due diligence on our behalf? | ||
*'''Cult of personality''': A single Svengali, genius, Nobel prize-winners, NASDAQ chairmen, | *'''Cult of personality''': A single Svengali, genius, Nobel prize-winners, NASDAQ chairmen, |