Twin Cities Talk Show Host Jason Lewis "Goes Galt"


Jonathan

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Im glad they said that that was a parody because it was thoroughly unconvincing.

The producer at the end saying "what are we going to do..." They are going to hire one of the thousands of folks lined up to take the job. And why was he mad at his accountant. Seems to me that the accountant was just doing the exact job that he was hired to do.... unless he was hired to find loop holes....

post script edit: Jonathan, you live in the twin cities where the show was on air? What is the african american population percentage there? Im not one of those nitpickers but there wasn't even a single black guy on the streets...

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I just read the one page website and man this doesnt look good. What the hell are galtcoins?

They say that it is members only and they have to be invited by other members but then they have a "if you are interested in joining, click here" button

They said how much money they raised from crowd funding so I was like "this will take but 30 seconds to check whether there truly was a successful campaign on kickstarter", but no, then I read that they raised the money without a dedicated web service like kickstarter which of course means that you can't check their statements.

Join thousands of other like minded... sounds like bandwagon advertising.

So whatever money he makes from the site, he wont have to pay taxes now? Just because the site has Galt in the name? Or did he leave the country

Edit:

Just found this on the sites blog-

  • It Takes a Village
    Now that Causes are collaborative and ownership is limited (i.e., 40% rule), it truly takes a community of motivated Members to make a Cause go. Causes that have their shareholders rally around them will be the “rising tide that lifts all boats”.
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Join thousands of other like minded... sounds like bandwagon advertising.

I also found that irony amusing, Derek. "Come join the club of independent individualists!" :laugh: It has a kind of Ponzi smell to it.

If someone really goes Galt... they just effing do it.

They don't need to show you "no stinking badges".

madre.gif

Greg

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Join thousands of other like minded... sounds like bandwagon advertising.

I also found that irony amusing, Derek. "Come join the club of independent individualists!" :laugh: It has a kind of Ponzi smell to it.

If someone really goes Galt... they just effing do it.

They don't need to show you "no stinking badges".

madre.gif

Greg

Right from the Treasure of Sierra Madre! I really do like that movie. Baahez? We don't need no steeenking baahez.

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post script edit: Jonathan, you live in the twin cities where the show was on air? What is the african american population percentage there? Im not one of those nitpickers but there wasn't even a single black guy on the streets...

I'd guess that about 15 to 20% of twin cities residents are black. It's definitely odd to not see any African Americans in an average street view in Minneapolis. Jason's show actually reflected the population better than the video clip. I'd say that about 15 to 20% of his callers were self-identified as black.

J

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I just read the one page website and man this doesnt look good. What the hell are galtcoins?

They say that it is members only and they have to be invited by other members but then they have a "if you are interested in joining, click here" button

They said how much money they raised from crowd funding so I was like "this will take but 30 seconds to check whether there truly was a successful campaign on kickstarter", but no, then I read that they raised the money without a dedicated web service like kickstarter which of course means that you can't check their statements.

Join thousands of other like minded... sounds like bandwagon advertising.

So whatever money he makes from the site, he wont have to pay taxes now? Just because the site has Galt in the name? Or did he leave the country

Edit:

Just found this on the sites blog-

  • It Takes a Village
    Now that Causes are collaborative and ownership is limited (i.e., 40% rule), it truly takes a community of motivated Members to make a Cause go. Causes that have their shareholders rally around them will be the “rising tide that lifts all boats”.

Yeah, the galt.io website is really a weird thing. To me, the idea of trying to mix social exclusivity (like the initial version of Facebook) with political activism is completely illogical. I'd need to see some real-world proof of effectiveness before going anywhere near the site. As is, it just seems like a circle jerk/ego stroke.

J

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Interesting video. It's ironic that he seems to be trying to form another collective.

Greg

I don't know what Lewis is actually up to, but his retirement -- his "going Galt" -- was really transparently and artlessly orchestrated. Having listened to Lewis on and off over a couple of decades, I suspect that he must be up to something more than building his website or fleecing his flock. His method of quitting radio was so obviously a publicity stunt that I hope there's a payoff to it soon (like a last-minute campaign to unseat Al Franken, as I suggested in the initial post). Otherwise it just seems pathetic.

J

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I was reading a four page forum on the website (you can find the forums by googling) and first I was surprised to see that the community members have taken to calling the Causes/galtcoin thing, a game. Many of them seemed upset that it didnt seem to actually lead to anything in the real world. Then about 2 pages in, the going-galt-quit-on-air thing happened and you can read the members reactions to it in real time. Many of them were not amused...

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I was reading a four page forum on the website (you can find the forums by googling) and first I was surprised to see that the community members have taken to calling the Causes/galtcoin thing, a game. Many of them seemed upset that it didnt seem to actually lead to anything in the real world. Then about 2 pages in, the going-galt-quit-on-air thing happened and you can read the members reactions to it in real time. Many of them were not amused...

Beware of band-wagons. They give a bumpy ride and people sometimes fall from them

Ba'al Chatzaf

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I was reading a four page forum on the website (you can find the forums by googling) and first I was surprised to see that the community members have taken to calling the Causes/galtcoin thing, a game. Many of them seemed upset that it didnt seem to actually lead to anything in the real world. Then about 2 pages in, the going-galt-quit-on-air thing happened and you can read the members reactions to it in real time. Many of them were not amused...

Beware of band-wagons. They give a bumpy ride and people sometimes fall from them

Ba'al Chatzaf

...and they belong to someone else. I'd rather walk than ride on someone else's bandwagon.

Greg

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I was reading a four page forum on the website (you can find the forums by googling) and first I was surprised to see that the community members have taken to calling the Causes/galtcoin thing, a game. Many of them seemed upset that it didnt seem to actually lead to anything in the real world. Then about 2 pages in, the going-galt-quit-on-air thing happened and you can read the members reactions to it in real time. Many of them were not amused...

Thanks for the heads up, Derek. :smile:

I just read most of the available posts for a non member just to get a flavor for what's going on. And everything I read can be boiled down to one basic theme:

DIMINISHING RETURNS

The members there seem to be spending their time (and galtcoins) chasing their own tails while they discover that they have less and less of a tail to chase.

This is classic Ponzi at its best. :wink:

Greg

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I was reading a four page forum on the website (you can find the forums by googling) and first I was surprised to see that the community members have taken to calling the Causes/galtcoin thing, a game. Many of them seemed upset that it didnt seem to actually lead to anything in the real world. Then about 2 pages in, the going-galt-quit-on-air thing happened and you can read the members reactions to it in real time. Many of them were not amused...

Thanks for the heads up, Derek. :smile:

I just read most of the available posts for a non member just to get a flavor for what's going on. And everything I read can be boiled down to one basic theme:

DIMINISHING RETURNS

The members there seem to be spending their time (and galtcoins) chasing their own tails while they discover that they have less and less of a tail to chase.

This is classic Ponzi at its best. :wink:

Greg

Lewis has always seemed like a person of great integrity, so I doubt that he intended the galtcoin thing to be a Ponzi scheme. I think that he may have wanted to introduce something like a fun metaphorical element of capitalism to the site, not realizing some of the potential hazards/unintended consequences. I think the same is true with the site's exclusivity. I think that he may have wanted to establish the secret hideout feeling of a Galt's Gultch, but didn't really think about how such exclusivity can impede activism. It might have worked if, at the peak of public interest (due to the public's being excluded), the site had opened the gates and got people acting on groundswell causes, but it appears that no one thought that far ahead.

J

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I was reading a four page forum on the website (you can find the forums by googling) and first I was surprised to see that the community members have taken to calling the Causes/galtcoin thing, a game. Many of them seemed upset that it didnt seem to actually lead to anything in the real world. Then about 2 pages in, the going-galt-quit-on-air thing happened and you can read the members reactions to it in real time. Many of them were not amused...

Thanks for the heads up, Derek. :smile:

I just read most of the available posts for a non member just to get a flavor for what's going on. And everything I read can be boiled down to one basic theme:

DIMINISHING RETURNS

The members there seem to be spending their time (and galtcoins) chasing their own tails while they discover that they have less and less of a tail to chase.

This is classic Ponzi at its best. :wink:

Greg

Lewis has always seemed like a person of great integrity, so I doubt that he intended the galtcoin thing to be a Ponzi scheme. I think that he may have wanted to introduce something like a fun metaphorical element of capitalism to the site, not realizing some of the potential hazards/unintended consequences.

"Metaphorical Capitalism"... that's the perfect name for it!. :laugh:

It's pretend.

No products or services are actually being produced. It reminds me of an annual event where I live. It"s called the Renaissance Faire, where everyone dresses up in medieval garb and prances around pretending to be knights and ladies for a few days. The galt.io participants are only pretending to be Capitalists. The members who had posted their experiences were spending (wasting) considerable quantities of time on their computers trying to "make" galtcoins, all the while inevitably losing them to the law of diminishing returns.

All of this nonsense has absolutely nothing to do with going Galt. The people who really go Galt don't join a "Galt Club" full of unproductive do-nothing posers. They work as independent Capitalist entrepreneurs in the real world building their own Gulch.

Greg

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Yeah, it appears to be a major flop. From listening to Lewis mention Galt.io on his show during the past several months, it sounded as if the goal was to make the site a serious launch pad for highly organized real world activism. Still waiting to see that happen.

J

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Yeah, it appears to be a major flop. From listening to Lewis mention Galt.io on his show during the past several months, it sounded as if the goal was to make the site a serious launch pad for highly organized real world activism. Still waiting to see that happen.

I spent some time on the forums, help tickets, blog and here and there at the website. My major reaction is "weird, weird, weird." It makes me think of a self-assembled civil service attached to political idea operating in a dream-world "Cause Market." I quote below a post from the blog that undlerlines the weirdness of the enterprise ... this isn't a simple FAQ, but more an explanation of new tax rules or regulations on financial transactions. Weird.

-- As near I can tell, an amount of the GaltCoins pseudocurrency is issued to newly invited members once they are allowed to join and 'support' a cause. Then they spend their chits by up or down-voting 'updates' to causes. These transactions allow 'dividends' to those who 'own' a cause or part cause. New chits are also presumably issued in exchange for cold hard cash. One's investment in a particular cause is limited to 40 percent of the 'shares' in it. 'Shares' are acquired/spent by 'voting.' The valuation and the 'minting' of the chits/chips/pseudocurrency/Galt Coins/Bingo cards is obscure ...

Hopelessly wrong, my grasp of the enterprise, probably. It may not be a straight-up Ponzi scheme, but the folks who can most easily turn their chips back into cash are the class of 'founders' who also own, design, run, and update the design and software for the scheme.

Could a better comparison be made to a self-contained Vegas moneymaker, wherein the House, surprise surprise, ends up winning the lion's share of the proceeds? The "fun," if there is any remaining, seems akin to the buzzes, blares, clanging and flashing of the one-armed bandits. Just keep feeding it (the House) and hope for a pay-out (but then have nowhere to spend it but in the casino) ...

Has anyone else got a more accurate sketch of how this weird thing actually works?

Tuesday, July 15, 2014

Latest Update Huge Success; Now The Game Really Begins

Tyler Durden Reporting

Tips:

  • Vote Early, Vote Often

    Voting - Up or Down - allows you to collect dividends. Any vote you make on an update creates earnings for the cause (up or down). You no longer have to wait for an 8 hour set time period. Staying involved in the most active causes allows you to collect Dividends as fast as the votes come in. By investing in votes, you are not only building equity in the cause but just as importantly rewarding good authors and discouraging bad ones.

  • The Pen is Mightier Than the Sword

    Members can now add updates to ANY cause they own shares in. If you have something great to add, a“current events” update, or even appropriate criticism, you now earn Galtcoins for every Up vote your updates gets once it is live. And writing these updates also adds earning to the cause, regardless of the vote tally.

  • Corporations (and Causes) are People

    Now that causes have earnings, they are entities unto themselves and wield great power. Being a major shareholder in good, active causes gives Members the power to influence what the Cause does and allows other members to see your updates once they’re live (and gives them HUGE dividends).

  • Milk your Cash Cow

    If you own shares in a super-active cause, strap in and hold on for the ride. Since you no longer have to wait for time to pass, stay involved, vote and add updates. Active causes mean Members return by the minute and if you double down by posting updates in addition to voting and collecting dividends on earnings, you’ll get rich quick. (sorry to those ‘stagnant’ causes created by Founders solely for their own benefit, dividends may be a long time coming).

  • It Takes a Village

    Now that Causes are collaborative and ownership is limited (i.e., 40% rule), it truly takes a community of motivated Members to make a Cause go. Causes that have their shareholders rally around them will be the “rising tide that lifts all boats”.

Tricks:
  • Read ALL Updates

    If the title is blue, it is not read. Expand by clicking the title. Mark read by clicking the blue “Read Update” button (be sure to read the Update when it loads).

  • Don’t forget about “Pending”

    In the Updates box, you can switch between Live, Pending and My Updates by using the pull-down menu. You must read all Live and Pending Updates before collecting your dividend.

  • Voting, Sliders and Number Keys

    To cast your vote, you can select the number of shares you vote with by using the slider (best for all or one vote(s)) or just plug in the number of votes you want into the number box with your keyboard. Each vote invests a coin into the Cause earnings and also pays the Author of the Update for good work.

  • Author Earnings (limited downside)

    Authors earn coins for votes ONLY on LIVE UPDATES. Once an Update goes below 1,000 votes, it is moved to pending and no longer earns (or loses) Galtcoins for the author.

  • We really shouldn't - but we will....

    We like our members to figure out the strategies of Galt.io, but here’s a hint on one: all you need to collect dividends is for your current earnings to reach your respective earnings threshold, so should you really accumulate more earnings than you need before collecting dividends?

welcometothegulchsucker.jpg

Edited by william.scherk
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I checked out the FAQ at the site, and I'm still wondering what a "Cause" might be. It would be interesting to see several real examples of proposed Causes, and how they fared in the voting.

Currently, as an outsider, I see the site as a Pelosi-like join and pay "to see what's in it" type of deal

The rules of Galt are the weirdest thing. Don't talk about Galt? Yeah, um, that'll work real well with real-world activism. Let's change the world by keeping our Causes and activism a secret!!!

The tease today on NEWS TALK AM1130 is that, on tomorrow's Up & At 'Em with Jack and Ben, Lewis will be calling in from "Galt's Gulch."

J

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No offense folks, however we are supposed to care about this guy why?

As Jonathan mentioned, beating Franken at the polls, or, with a two by four [<<<<metaphorically for NSA] would be worth the effort.

That pretty much ends my interests in the gentleman.

A...

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There is some value in this... entertainment. I had lots of fun reading people's ongoing realizations and reactions to the scam. It's a real time demonstration of what happens when people believe the lie that they can get something for nothing.

They end up getting nothing which is exactly what they deserve.

Greg

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No offense folks, however we are supposed to care about this guy why?

As Jonathan mentioned, beating Franken at the polls, or, with a two by four [<<<<metaphorically for NSA] would be worth the effort.

That pretty much ends my interests in the gentleman.

A...

You don't have to care about Lewis. No offense taken. I only posted the info about his website and his "going Galt" because, obviously, it's Rand-related.

I've enjoyed listening to his radio show for many years. He's very knowledgeable on almost every subject, and can be an excellent defender of individual rights, so I hope his website doesn't end up turning into the clusterfuck that it looks like it might be turning into.

J

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That pretty much ends my interests in the gentleman.

You don't have to care about Lewis. No offense taken. I only posted the info about his website and his "going Galt" because, obviously, it's Rand-related.

I've enjoyed listening to his radio show for many years. He's very knowledgeable on almost every subject, and can be an excellent defender of individual rights, so I hope his website doesn't end up turning into the clusterfuck that it looks like it might be turning into.

J

Your interest was clear to me, J.

I was not clear that I was addressing all the other "stuff."

I must have been cranky!

A...

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