Ben McKenzie vs. crypto

The Vergecast1h 20mApril 14, 2026

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AI-Generated Summary

In this episode of The Vergecast, host David Pierce dives into two deep dives into modern cultural obsessions: cryptocurrency and continuous glucose monitors (CGMs). First, he speaks with actor and documentarian Ben McKenzie about his film 'Everyone Is Lying To You For Money,' which chronicles his descent into the crypto world and his growing conviction that crypto is not a revolutionary financial system but a scam fueled by greed, manipulation, and a cult-like culture. McKenzie argues that crypto fails as money because it relies on trust—just like all money—but falsely claims to be 'trustless.' He highlights the failure of Bitcoin in El Salvador, the dominance of corporate mining, and the reality that crypto is primarily a zero-sum gambling game or a tool for crime, not a solution to systemic financial flaws. Despite repeated scandals and collapses, crypto’s popularity persists due to hype, political endorsement (notably Trump), and the irrational persistence of market manias. The second half features V Song, The Verge’s senior reviewer, sharing her 18-month journey testing CGMs—devices originally for diabetics but now marketed to the general public as tools for 'metabolism optimization.' She recounts how the devices led her to obsessive data tracking, disordered eating behaviors, and emotional distress, despite her initial health improvements. She questions the medical validity of non-diabetic CGM use, the lack of consensus among experts, and the growing influence of political figures like RFK Jr. and potential Surgeon General Casey Means in promoting wearables as a national health agenda. Ultimately, she warns against letting data tools dictate life choices, urging a more human-centered approach to health tech. The episode closes with a reflection on how once-popular gadgets and software become standardized, making innovation harder—and how breakthroughs in technology, not just design, are needed to spark new gadget revolutions.

Key Takeaways
1

Crypto is not a trustless system—it still relies on human trust, and its 'code-based trust' is a myth, as seen in the FTX collapse.

2

El Salvador’s failed Bitcoin experiment proves crypto doesn’t work as real-world money, especially for the poor.

3

CGMs are not reliable for non-diabetics; there’s no medical consensus on their use, and they can trigger disordered eating.

4

The rise of 'metabolism optimization' is driven by political agendas and wellness influencers, not science.

5

Once a product becomes standardized (like the MacBook or iPhone), it becomes nearly impossible to innovate around it.

…and 3 more takeaways available in PodZeus

Chapters
0:00
10 min

The Backyard, the Podcast, and the Descent into Madness

David Pierce opens the episode with a humorous, self-deprecating story about his failed gardening efforts and the absurdity of moving sprinklers for 10 days. He sets the tone for the show by introducing the theme of 'descents into madness'—a metaphor for the deep dives into crypto and health tech that the episode explores. He previews the two main segments: Ben McKenzie’s documentary on crypto and V Song’s journey with CGMs.

10:00
15 min

Ben McKenzie’s Crypto Descent: From Believer to Skeptic

If money is trust and you're saying it's a trustless currency, then you're saying it's like a government-less government or religion-less religion. The words you're searching for are anarchy and cult.

Highlight
25:00
20 min

The El Salvador Experiment and the Failure of Crypto as Money

It was not used as money. It never worked as money. Even the remittance thing didn't work at all. It was 2% of remittances when we started recording. It's even less now. It's less than 1%.

Highlight
45:00
20 min

Crypto as Casino Capitalism: Gambling, Crime, and the Cult of Belief

Crypto can't do any of that because it's not a positive sum game. It's a zero sum at best game, really negative sum game.

Highlight
1:05:00
20 min

The Persistence of Crypto: Hype, Politics, and Market Mania

The manias can last a really long time. I mean, Bernie Madoff ran a Ponzi scheme for decades. So it's just, we're weird people.

Highlight
High-Impact Quotes
If money is trust and you're saying it's a trustless currency, then you're saying it's like a government-less government or religion-less religion. The words you're searching for are anarchy and cult.
Ben McKenzie6:05
Viral: 85.0
I started going to social events and not eating anything because I was terrified if eating a slice of pizza was gonna spike my glucose.
V Song51:38
Viral: 82.0
Crypto can't do any of that because it's not a positive sum game. It's a zero sum at best game, really negative sum game.
Ben McKenzie21:22
Viral: 80.0
Speakers

Host

David Pierce

Guests

Ben McKenzieV Song
Topics Discussed
Crypto as a Scam95%El Salvador Bitcoin Experiment90%Health Tech and Data Obsession88%Disordered Eating and Self-Quantification87%Metabolism Optimization85%Political Influence on Health Tech82%Market Manias and Irrational Behavior80%Gadget Design Stagnation78%
People & Brands

V Song

person

18xNeutral

David Pierce

person

15xNeutral

Bitcoin

product

14xNegative

Ben McKenzie

person

12xNeutral

El Salvador

place

8xNegative

MacBook

product

8xNeutral

Casey Means

person

6xPositive

FTX

organization

5xNegative

RFK Jr.

person

5xPositive

Celsius

organization

4xNegative

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