Young people get swept up in speculation before they understand compound interest."
Michael Dempsey, managing partner of the Compound hedge fund, suggested allowing gambling only from the age of 26. In his opinion, young people get carried away with fast money too soon, without having time to understand long-term investments.
At the same time, Dempsey himself admitted that even in college he partially covered his expenses by betting on sports, and started trading options at the age of 18.
Now he opposes prediction markets and excessive gambling, criticizing the pursuit of short-term profits instead of creating new products.
Dempsey spoke separately about memcoins. He admits that trading them requires effort, but he questions the intellectual utility of such an activity. He jokingly stated that using Pump.fun could be 100 times worse for the brain than chatting on ChatGPT every day.