We’re Living In A Golden Age of Bullshit

🌈 Abstract

The article discusses the concept of the "Bullshit Economy" - where people and companies sell products or services that do not actually provide any real value to the customer. It explores various examples of this phenomenon, such as online courses that teach how to create online courses, consultants selling unproven frameworks, and middlemen contractors who outsource all the work. The author argues that this type of deception is widespread and that a more balanced skepticism towards such claims is needed in the mainstream.

🙋 Q&A

[01] The Bullshit Economy

1. What is the Bullshit Economy according to the author?

• The Bullshit Economy refers to the phenomenon where people and companies sell products or services that do not actually provide any real value to the customer, but they convince the customer that the product/service is useful.
• This includes things like:
  • Online courses that teach how to create online courses
  • High-priced one-on-one coaching services from people with no formal training or experience
  • Digital products from SaaS companies that no one actually uses
  • Consultants selling "frameworks" that are untested and unvalidated
  • Middlemen contractors who subcontract all the work to cheaper vendors

2. What are the key characteristics of the Bullshit Economy according to the author?

• The primary goal of those in the Bullshit Economy is to maintain the "illusion of value" - convincing customers that they are providing something useful, when in reality the product/service does nothing for the customer.
• It is not limited to outright fraud, but includes any company or person selling something that does not actually do what they claim it does.
• Examples include underperforming fund managers, government workers whose departments fail to execute their mandate, and companies selling products that provide no real value.

3. What does the author suggest as a solution to the Bullshit Economy?

• The author argues for a more "balanced skepticism" towards the claims made by those trying to sell products or services, especially when there is a profit motive involved.
• He suggests that people should demand evidence and expert consensus to support any extraordinary claims, rather than just accepting them at face value.
• The author acknowledges that implementing this solution is easier said than done, given the factors that have contributed to the rise of the Bullshit Economy.

[02] The Author's Personal Experience

1. What was the author's first "real job" and how did it relate to the Bullshit Economy?

• The author's first "real job" was as a prosecutor in northern Canada, where the criminal justice system failed to properly punish the guilty or protect the innocent.
• The author's actual job was to "close files" and keep the system functioning, rather than delivering true justice - an example of the Bullshit Economy.

2. How did the author's experience change when he moved to the private sector in Bermuda?

• In the private sector, the author's writing clients demanded that he provide something of actual value before they would pay him.
• This was in contrast to his previous government job, where he was paid to maintain the illusion of providing a valuable service.

3. What made the author briefly consider becoming one of the "gurus" selling dubious online products and services?

• The author was initially offended by the "naked display of greed and exploitation" he saw in the online creator and writing economies.
• However, he briefly considered becoming one of these "gurus" himself, before realizing he was more incompetent than evil and ultimately abandoned the idea.