Slate Money - What Even Is Money?

This week: The price of gold has skyrocketed to over $4k an ounce.  Felix Salmon, Elizabeth Spiers, and Emily Peck speculate why this might be happening right now – or if there even is a “why”. Then, Intercontinental Exchange has announced an investment of $2 billion in Polymarket, upping the valuation from $1 billion to $8 billion. The hosts discuss what makes prediction markets so big right now and the increasingly murky distinction between "betting” and “investing”. And finally, several Bob Ross paintings are being auctioned for charity prompting a Slate Money listener to ask what the market is for his work. Felix breaks down the oddity that is the Bob Ross painting market and explains how charity auctions can skew the value of a piece of art. In the Slate Plus episode: Emily goes on a reporting journey to figure out what the new phrase ‘6-7’ is all about. Want to hear that discussion and hear more Slate Money? Join Slate Plus to unlock weekly bonus episodes. Plus, you’ll access ad-free listening across all your favorite Slate podcasts. You can subscribe directly from the Slate Money show page on Apple Podcasts and Spotify. Or, visit slate.com/moneyplus to get access wherever you listen. Podcast production by Jessamine Molli and Cheyna Roth. Hosted on Acast. See acast.com/privacy for more information.