Matt Levine, Columnist

The Fall of Juicero and ICO Fever

Also leveraged conversions, spam filters, Martin Shkreli and missile worries.

September 6, 2017 at 1:15 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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Juicero.

I spent some time over the long weekend thinking about how I will one day explain Juicero Inc., 2017's great metaphysical phenomenon, to my grandchildren. "You see," I will probably begin, "it was a $400 machine that squeezed juice out of bags of produce that were connected to the blockchain." But wait! That's wrong! It seems like it would be, but actually Juicero is not on the blockchain, which may be why it said on Friday that "it will suspend sales, offer refunds to customers and search for a buyer for the company."