Trusting A Business Because of A Lawyer Affiliation
General Thoughts and Fun Topics

Trusting A Business Because of A Lawyer Affiliation

With FTX scandal still progressing one interesting bit was how Kevin O’Leary, known as one of the investors in Shark Tank, is just one of the many people who invested in FTX and is currently trying to recoup money. You often wonder how it is that so many famous celebrities and billionaires could fall for this right? One detail that came up was how apparently when he had a meeting with the CEO Sam Bankman-Fried he found out that his parents were actually lawyers.

Most people would assume if someone is a lawyer then they will try to do everything by the book legally correct? Or if the person you are doing business with someone that has a lawyer working with them then again that should boost up one’s confidence in its legitimacy. That appeared to the case for O’Leary as well. Of course, we all know how things has ended up so far.

It’s a reminder that affiliations and endorsements don’t necessarily mean something is good. One of the best examples in history I think is when doctors were literally promoting cigarettes. Sounds outrageous nowadays, but imagine in the past if a tobacco company pitched you on the product and how they have doctors in their team. Would you not be inclined to think it was legitimate too afterwards?

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