Slate Money23 Aug 2025

ATM Scam Summer School

This week: We got more details on the ATM scam that swept New York City thanks to a teen summer job program and an infinite money glitch last month. Felix Salmon, Elizabeth Spiers, and Emily Peck discuss the mechanics of the scam, the fallout for the many parties involved, and the tragic irony that a program meant to teach teen financial literacy led them straight into a harsh real world lesson. Then, Yieldstreet is part of a growing trend of startups that want to democratize private investing but it’s not proving to be a great bet. The hosts discuss the economy of private investment and ask whether or not it's a good idea to make it more public. And finally, the Wall Street Journal published an opinion piece from a 22-year-old about how you should sacrifice your youth to get rich. What’s the real value in trying to become a “thought leader” with pieces like this?

In the Slate Plus episode:

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