Be careful with the gatekeepers to know when they’re speaking to protect their castles. In an Igbo novel, Uwadiegwu [the literal meaning of the title is that the world is mystical], the author dropped many wise lessons, and one has to do with knowing the person to listen to.
J.P. Morgan Chase CEO Jamie Dimon: “I’m a major skeptic on crypto tokens which you call currency, like Bitcoin. They are decentralized Ponzi schemes.” – Sept 2022
J.P. Morgan Chase CEO Jamie Dimon: “We are going to allow you to buy it [Bitcoin]” – May 2025
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In a Logic and Philosophy class (GST 103) as an undergraduate in Federal University of Technology Owerri (FUTO), the professor explained “subjects” and “predicates” as he tried to teach us how to make logical statements. Using that course, one can extrapolate that the world’s finest bank is now allowing its clients to participate in decentralized Ponzi schemes so that the bank can make money!
Certainly, JP Morgan Chase occupies the zenith of global banking with a fortress balance sheet. But that does not mean its leader knows everything. The book – The Richest Man in Babylon – admonished us to seek the experts, understanding that your banker is not qualified to be an expert for an abdominal surgery. But when we transfer domain expertise, mindlessly, we run into troubles.
I tell startup founders that your college advisor may not be qualified to be your startup mentor unless he understands the terrain of startups. The problem comes when you cannot differentiate who you listen to, across different vectors you play in your career.
Sure – this is not to endorse Bitcoin or crypto; I am simply saying that if you know A, it does not mean you know B. And those seeking directions must do all to understand that. Imagine asking me how to win the Nigerian presidency, I will likely tell you to present a vision for Nigeria. But experts in that game possibly know that can even disqualify the candidate!
Comment on feed and my response:
You are not commenting on this piece as you have not explained what you did not agree with. Also, I did not say he is right or wrong. I also said that people should not outsource their brains and minds to “experts” because no human understands everything. Your doctor is an expert in his space but may not know anything about flying a plane. But when you transfer his medical expertise to flying a plane, you get into trouble.
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