After a few years on the tourist circuit, John and I were about ready to move on to larger things.
It's not that we weren't having fun. I had great teachers -- John on the one hand, and the mean streets of Cincinnati, Ohio on the other -- and we'd built up a fantastic routine over the years. We were just tired of being broke most of the time.
Our best act was the smoke-up. John would be standing at the bus station in his best cheap suit, looking around twitchily. I'd be half a block away on the corner. He'd accost the dumbest-looking passerby, offering $50 for a pack of cigs ("I can't miss this bus, man"). If they had a pack on them, John would discover that his wallet was missing and swear loudly until the mark went away. If they didn't, our victim would be pleased to discover my little corner set-up, where packs could be had for a merely extortionate $20 apiece.
It was less lucrative than picking pockets, but much more enjoyable.
We had a few other cheesy tricks. We were always very late on rent. Our landlord was starting to sound a bit more serious about his threats. That's when John somehow wound up with a warehouse full of plastic cattle.
"HalfCalf. It was this totally failed My Little Pony ripoff, they were going out of business, I got these really cheap, it's like 5% retail, we can probably flip them for twice--"
"John. Johnny. How much did you spend on toy cows."
He looked sheepish. "Two grand?"
That was our savings, more or less. To my credit, I only came up with three or four ways to murder a man with plastic cows before he managed to calm me down. Then we started thinking.
I had a decent-sized botnet left over from college, and John knew a few marketing tricks from the dotcom bubble. In about a week, the Web was crawling with rumors about the HalfCalf nostalgia craze. Only about two-thirds of the articles were ours. We started to contact our marks.
"Hey, I saw your piece on HalfCalf. I represent a private collector -- we'll pay you two dollars apiece."
"You know where we can get HalfCalf? Just the longhorns and Angus. We'll pay $2."
And so on.
Meanwhile, we started advertising our stockpile, quietly, mostly on Craigslist and a few forums. (Including the "Official HalfCalf Discussion Board" -- again, not one of ours.) We were gearing up to sell thousands upon thousands of them, for $1 each, and then vanish; the smoke-up writ large. I apologized to John for fantasizing about drowning him in injection-molded Holsteins. He was a genius. We were both geniuses.
Things went better than we could have ever hoped for. The two of us sat in our dingy apartment, browsing the rumor mill. HalfCalves littered the table. I'd taken to arranging them in compromising positions when I was bored.
"Check this out, dude -- 'HalfCalf is the new Beanie Baby'!"
"That's nothing. Look here: 'going for up to five dollars for rare varieties'... who's paying that?" We sure aren't."
"The new Beanie Baby, 'the next My Little Pony' -- Hey, do you think Hasbro's gonna sue us?"
"Why would they? We're not breaking any laws. Uh, any laws of relevance to them."
"Wait, look at this."
"What? That's a joke, yeah?"
"Gotta be. How can HalfCalf be 'the next big cryptocurrency'?"
"Hacker News, man."
About a month in, most of our cattle were spoken for. We started to ship them out, counting our winnings gleefully. But the craze showed no sign of slowing down.
"John John John. Look look look. Ten dollars. Twenty dollars for the rare ones!"
"That's from Tuesday. It's closer to thirty now, on some sites."
We cancelled as many $1 sales as we could, tried to buy back the cows that had already slipped through our fingers. A few found their way back to us through our $2 offers, which we had fortuitously forgotten to take down. The HalfCalf market grew, swelled, metastasized. Speculators tripped over each other, choking on outdated information and premature hype; arbitrage opportunities abounded.
At the point where things really went nuclear, we'd sold off all our cows again and had a modest fortune tucked away. John still had some promising leads, sellers who didn't have their eye on the latest gossip. We gradually bought back nearly the entire stock, at $20, $30, $50. It didn't matter; there were buyers who would pay us hundreds, now. We went into debt. We started planning for retirement.
Finally, we found ourselves sitting on an ocean of priceless cattle. Almost a million dollars' worth, I calculated. We scrambled and bought up the last few HalfCalves.
And the bottom fell out of the market.
It's not that we weren't having fun. I had great teachers -- John on the one hand, and the mean streets of Cincinnati, Ohio on the other -- and we'd built up a fantastic routine over the years. We were just tired of being broke most of the time.
Our best act was the smoke-up. John would be standing at the bus station in his best cheap suit, looking around twitchily. I'd be half a block away on the corner. He'd accost the dumbest-looking passerby, offering $50 for a pack of cigs ("I can't miss this bus, man"). If they had a pack on them, John would discover that his wallet was missing and swear loudly until the mark went away. If they didn't, our victim would be pleased to discover my little corner set-up, where packs could be had for a merely extortionate $20 apiece.
It was less lucrative than picking pockets, but much more enjoyable.
We had a few other cheesy tricks. We were always very late on rent. Our landlord was starting to sound a bit more serious about his threats. That's when John somehow wound up with a warehouse full of plastic cattle.
"HalfCalf. It was this totally failed My Little Pony ripoff, they were going out of business, I got these really cheap, it's like 5% retail, we can probably flip them for twice--"
"John. Johnny. How much did you spend on toy cows."
He looked sheepish. "Two grand?"
That was our savings, more or less. To my credit, I only came up with three or four ways to murder a man with plastic cows before he managed to calm me down. Then we started thinking.
I had a decent-sized botnet left over from college, and John knew a few marketing tricks from the dotcom bubble. In about a week, the Web was crawling with rumors about the HalfCalf nostalgia craze. Only about two-thirds of the articles were ours. We started to contact our marks.
"Hey, I saw your piece on HalfCalf. I represent a private collector -- we'll pay you two dollars apiece."
"You know where we can get HalfCalf? Just the longhorns and Angus. We'll pay $2."
And so on.
Meanwhile, we started advertising our stockpile, quietly, mostly on Craigslist and a few forums. (Including the "Official HalfCalf Discussion Board" -- again, not one of ours.) We were gearing up to sell thousands upon thousands of them, for $1 each, and then vanish; the smoke-up writ large. I apologized to John for fantasizing about drowning him in injection-molded Holsteins. He was a genius. We were both geniuses.
Things went better than we could have ever hoped for. The two of us sat in our dingy apartment, browsing the rumor mill. HalfCalves littered the table. I'd taken to arranging them in compromising positions when I was bored.
"Check this out, dude -- 'HalfCalf is the new Beanie Baby'!"
"That's nothing. Look here: 'going for up to five dollars for rare varieties'... who's paying that?" We sure aren't."
"The new Beanie Baby, 'the next My Little Pony' -- Hey, do you think Hasbro's gonna sue us?"
"Why would they? We're not breaking any laws. Uh, any laws of relevance to them."
"Wait, look at this."
"What? That's a joke, yeah?"
"Gotta be. How can HalfCalf be 'the next big cryptocurrency'?"
"Hacker News, man."
About a month in, most of our cattle were spoken for. We started to ship them out, counting our winnings gleefully. But the craze showed no sign of slowing down.
"John John John. Look look look. Ten dollars. Twenty dollars for the rare ones!"
"That's from Tuesday. It's closer to thirty now, on some sites."
We cancelled as many $1 sales as we could, tried to buy back the cows that had already slipped through our fingers. A few found their way back to us through our $2 offers, which we had fortuitously forgotten to take down. The HalfCalf market grew, swelled, metastasized. Speculators tripped over each other, choking on outdated information and premature hype; arbitrage opportunities abounded.
At the point where things really went nuclear, we'd sold off all our cows again and had a modest fortune tucked away. John still had some promising leads, sellers who didn't have their eye on the latest gossip. We gradually bought back nearly the entire stock, at $20, $30, $50. It didn't matter; there were buyers who would pay us hundreds, now. We went into debt. We started planning for retirement.
Finally, we found ourselves sitting on an ocean of priceless cattle. Almost a million dollars' worth, I calculated. We scrambled and bought up the last few HalfCalves.
And the bottom fell out of the market.
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