Add Water to the Tea: The Fine Art of Selling Empty Bags

From the 1929 utility pyramids of Samuel Insull to the 2026 hype cycles of Silicon Valley, the names change but the math remains the same. This week, Joshua and William trace the “boring” pipeline of share dilution—a legal mechanism that consistently transfers risk from those in the room to those standing at the end of the line. We explore how “going public” became the actual product, why your disclosure forms are written in Greek, and how a single New Jersey deli ended up with a $100 million market cap. Before you buy the next big AI IPO, join us to learn why the “exit” was planned long before you arrived.