extraction economy Archives - Wakeman Consulting Group

The Three Stages of Extraction: How We Built a “Buyer Beware” Economy

The Wall Street Journal reports that Polymarket staged fake wins on copycat websites. Creators filmed themselves celebrating fabricated payouts…$100,00 here, a lucky break there. Just a day in the life of a winner. The real market: running on a public blockchain, showed those same bets would have lost. Across 1,105 videos, roughly $1.9M in bets were shown. […]

The World Cup: A Global Game of Chicken

The World Cup is two weeks away. Thursday brought a few interesting stories: This is what a game of chicken looks like. A structural standoff where the people with tickets thought they’d be able to get football fans to pay anything to see “the biggest World Cup ever.” All they had to do was wait. […]

Who’s Guarding the Game?

College Football Playoff expansion rumors are flowing. 24 teams, baby. More is better. MORE! The SEC meets next week in Destin. This is a topic that will certainly be on the table. The Big Ten wants it. The ACC wants it. The Big 12 wants it. Greg Sankey…doesn’t. He’s set a line at 16. Sankey […]

From Flailing to Focused: An Extraction Economy Manifesto

From Flailing to Focused You know the feeling. Things feel okay. The numbers look fine. Your board isn’t panicking. But there is something you can’t shake. A weight. An unease. A sense that the foundation isn’t as solid as the spreadsheets suggest. You’ve moved the numbers around. Highlighted different metrics. Told a new twist on […]

The Extraction Economy vs. Value Creating Organizations

Everyone seems to feel like the economy is broken. No hiring. Job losses. Everything costs more. Tough times all around. I have a name for what’s broken. The Extraction Economy. This is the system where insiders design the rules to capture value created by outsiders. Opacity, asymmetry, short-term optimization…all in service of building moats around […]

Trading One Risk for Another

The Fed is proposing new rules to allow big banks to hold billions less in capital. The reason? To keep lending from migrating to private credit. Interesting timing. Private credit is having a moment. Blue Owl halted redemptions. Western Alliance is suing Jefferies. Investors are nervous. So…the plan is to make banks safer by…letting them […]

Even if the States Win, Will It Be Enough?

Thirty-six states and DC returned to the courtroom Monday. They rejected the DOJ’s settlement. They hired a rock star of antitrust. They are presenting evidence. And the evidence is brutal. Bob Roux, Live Nation’s president of US concerts, took the stand on Monday. He claimed “more competition than ever.” He denied blocking artists from non-Ticketmaster […]