Longreads + Open Thread

Minksy, AI, Platforms, Streaming, Price Controls, Deflation, The Ottomans



Open Thread

Reader Feedback

David Khoo notes an alternative explanation for the wine store collapse story from last week's Longreads:

The Sherry-Lehmann wine store affair sounds like classic long firm fraud: Take over an established business and its valuable commercial arrangements with suppliers and customers, then use those arrangements to defraud them. Order goods and don't pay for them. Take payment for goods and don't deliver them. Bank on the trust the previous owners had built up with them to delay, make excuses and continue the con until breaking point, then disappear with the money.


If anything, wine stores seem like a perfect target for long firms because there is such a long gap between paying for a product and receiving it. A business where customers routinely pay millions today for this year's vintage with delivery in 3-4 years is raw red meat for conmen.

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