An Economy Built on Speculation—for Better and for Worse

建立在投机基础上的经济——好坏参半

WSJ What’s News

2025-10-19

25 分钟
PDF

单集简介 ...

From the land mania following the Revolutionary War to the AI craze now, speculation is in the American economy's DNA. These kinds of big bets have shaped our present and continue to fuel tomorrow's economic growth. Host Katherine Sullivan unpacks the past and future of American speculators. This episode is part of The Wall Street Journal’s USA250: The Story of the World’s Greatest Economy, a collection of articles, videos and podcasts aiming to offer a deeper understanding of how America has evolved. Further Reading: From Sports to AI, America Is Awash in Speculative Fever. Washington Is Egging It On. Capitalism and Democracy Often Clash in America. They Usually End Up Better for It. Financial Bubbles Happen Less Often Than You Think Learn more about your ad choices. Visit megaphone.fm/adchoices
更多

单集文稿 ...

  • Borders love buzzwords.

  • AI, climate, resilience.

  • But what do they actually mean for CFOs and execs trying to survive the next earnings call?

  • That's where the pre-read comes in.

  • Real experts and real talk.

  • Subscribe to the pre-read presented by Workiva.

  • Either this is a bubble or I'm going to be a trillionaire.

  • Like there's no two ways about it.

  • Imagine if one day,

  • your side hobby suddenly became something that people started spending millions of dollars on.

  • That's basically what happened to Mike Winkelman.

  • And it was just like, wait, what?

  • People are paying, collecting JPEGs?

  • Paying money for JPEGs?

  • Like...

  • Winkelman is a 44-year-old father of two, originally from Wisconsin.

  • He started making digital art in 1999, when he was a freshman in college.

  • long before something called an NFT existed.

  • The JPEG files he made on his computer were never something he thought would make him rich.

  • Was it something that you thought you would make a living on?