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Episode Info: Guest profile A graduate of the American Film Institute's directing program, Max Weissberg co-produced and appeared in the feature documentary film, Hotel Gramercy Park, which included cameos by Ben Stiller, Winona Ryder, Karl Lagerfeld, and Kanye West. The film earned a jury citation at the 2008 Tribeca Film Festival and screened on the Sundance Channel for several years. Max’s micro-budget feature film, Summertime, screened at festivals including SXSW and won best screenplay at First Time Fest. The film is now available on over a dozen VOD outlets worldwide. In 2013, Max's AFI thesis film, Karaganda, set in a Soviet prison camp, was "top 5" jury-selected for the 2014 AFI DGA showcase and won 5 festival awards in 26 film festivals. Max is currently in the midst of a crowd-equity campaign for the feature version of Karaganda and has so far raised over $130,000 from 155 investors on Startengine.com/Karaganda. Max's day job is at Viacom, where he works as a producer/editor. His work there has appeared on MTV, VH1, Comedy Central, TV Land, and Paramount networks.   “Well, I think if you cannot explain what the need is for something, then there probably is no need for it.” Max Weissberg   Worst investment ever Jumping onto the cryptocurrency market bandwagon Two years ago, Max was probably the only one among his peers who thought that the cryptocurrency market was a total scam. The Bitcoin investment mania had taken off at this point, and there were millionaires left, right, and center. However, his instincts told him that the coin would fall. However, he went against his instincts and decided to join the crypto bandwagon after attending an event at the National Arts club about cryptocurrency. The hype about cryptocurrency was so big, with everyone in attendance talking about how Bitcoin was the future. When they asked the room, who owned a digital currency, most of the room raised their hands. So Max was sold, and he figured that he didn’t want to be the last one on this gravy train. Kind of the same feeling I had when I went one to become one of the thousands who followed the herd to big losses in the dot com era. Without a second thought, he went ahead and took $800 and put it in cryptocurrency. Theory of a bigger fool than the digital currency investor In December 2017, Bitcoin’s value stood at about $19,000. This price went up and down a little bit. And then the prices collapsed. Max was a little bit surprised, but admittedly, he had seen it coming. He had ignored his own advice. So why would he make such an investment mistake when his instinct told him not to? Well, Max went along with the theory of a bigger fool than him, which most people who invested in Bitcoin believed in. The theory poses that there has to be a bigger fool out there. Someone who would believe in the craze and buy his Bitcoin, and he’d make a profit. The idea of intelligent people espousing this philosophy won him over, and he hoped that there was just a huge...
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