The First Short Sell Was Made For Revenge | Planet Money | NPR

In the early 1600s there was one stock market with only one company’s stock in it, and it didn't take long before someone tried to manipulate the price.

Four hundred years ago, Isaac Le Maire helped found the Dutch East India Company. (You might remember them from history class: think big wooden boats, trips across rough seas, and lots and lots of spices).

Anyway, Le Maire got caught up in a dispute over some expense reports and so his co-directors essentially banished him from the spice trade.

Anyone else might've backed away, but Le Maire wanted revenge. And so, the short sell was born.

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[FastPitchInvestor]

I'm forever in debt to the creators of this video! Hilarious, informative, just so well done! I was looking to learn about the history of short selling and absolutely did. Laughed more than I have in a long time too. My genuine thanks!

[Kataskp]

Oh man, these keep getting better and better!



Also, ＳＴＯＮＫＳ

[mmmk]

lol it's like Drunk History, only more accurate :)

[cosmicbutterfly]

They make raw cabbage look appetising.

[wildsheepc]

Looks like the Dutch government pledged some money to NPR in the early 1600s...!
THANKS, SPONSORS! :D

[pmwilliams]

It's a cute rendition of a story, but much of the lesson is missed: 1. Monopoly power preserved by the government at the request of the monopolist leads to bad outcomes, so beware the influence of the monopolists and their lobbyists/agents, 2. While the first short sell was motivated by resentment, and SOME of the activities (such as starting false rumors) are bad for markets, short selling is now known to play an important role in the stability of market prices, 3. The tools are often extended beyond the intentions of the inventor in ways that the inventor did not forsee, and these tools are sometimes better or worse for society than the original intent, an example of 'emergent behavior'.

[peng]

4:08 did not know they were using USD back then lol

[wintersilence]

5:30 looking at the Maurader's Map

[dasikakn]

Dutch and India inextricably linked in economic history!

[crashmancer]

omg the literal mustache-twirling!
I'm really curious where the indoor scenes were filmed.

[mar__k]

this amazing video has only 25k views.

[MrTeff]

...so this is why short selling no longer exists!

[maryamismail]

Easy so what happened to the British East India Company as a result?

[whatsayyoucar]

Does anyone know how the word lobbyist came about?
President Ulysses S Grant would walk into the lobby of the White House and people would try their hardest to get things done.
President Ulysses S Grant was ticketed for speeding in Washington DC somehow they clocked him going 20 miles per hour on his horse. Wow a President received a ticket for speeding go figure

[askariseraphim]

Y'all gonna leave out all the slavery and genocide?

[Hayanomie]

Dude just explain the history why the flamboyant skits

[xelefonte]

I never attributed NPR to humor and this video is exactly why. Why is NPR trying hard to be funny? They’re like that uncool dad whose always trying to make his kids laugh but they only cringe. Stop NPR. Humor is not your strong suit. Just do documentary or short history lessons. Don’t ever attempt humor again.