The Vaporware Salesman

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  • čas přidán 8. 09. 2022
  • John Keely was the founder of the Keely Motor Company. He announced that he had discovered a new physical force, one that, if harnessed, would produce unheard-of power. He claimed to be able to produce from a quart of water enough fuel to move a 30-car train from Philadelphia to New York City.
    Scientists and engineers scoffed at his unverified claims. After his death, an investigation was carried out, and examination of his apparatus - a supposed perpetual motion machine - showed that, rather than a new force, tubes of compressed air or a form of hydraulic power activated the machinery.
    In today's video we see if there are any lessons investors can learn from the story of John Ernst Worrell Keely.
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  • @PBoyle
    @PBoyle  Před rokem +87

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    • @dongshengdi773
      @dongshengdi773 Před rokem +1

      We already have warp drives .
      Air-powered vehicles .
      Fusion power plants.

    • @charlesporter2191
      @charlesporter2191 Před rokem +3

      Elon Musk!

    • @papalegba6796
      @papalegba6796 Před rokem +1

      Elon musk & his Australian accent are an unending source of amusement. Most obvious imposter going.

    • @papalegba6796
      @papalegba6796 Před rokem +2

      Musk admitted SpaceX is fake on the Joe Rogan podcast & nobody even noticed lol. One born every minute eh?

    • @papalegba6796
      @papalegba6796 Před rokem

      It's trivial to find NATO documents on missile guidance systems that also show SpaceX is fake, but nobody is looking that hard because nobody understands any physics at all any more. No wonder Musk laughs at them.

  • @itamarperez
    @itamarperez Před rokem +515

    It’s genius how everyone knows who he is talking about without him saying the actual name 👏

    • @steviesevieria1868
      @steviesevieria1868 Před rokem +66

      A lot of the Elon fan boys don’t get it

    • @johnanon658
      @johnanon658 Před 6 měsíci

      @@steviesevieria1868more like trevor milton.
      Elon did actually get things released to market, and not just as boutiqie hand made low volume luxury goods but mass prodiced.

    • @OhNotThat
      @OhNotThat Před 6 měsíci +24

      @@steviesevieria1868 oh they do get it.... and that's why they're furious.

    • @remliqa
      @remliqa Před 6 měsíci +1

      I don't.

    • @PeteC62
      @PeteC62 Před 6 měsíci +11

      The dancing "robot" over the image of Keely was a bit of a giveaway though 😂

  • @rolimiranda9291
    @rolimiranda9291 Před rokem +1113

    "It would be financially insane to buy anything but a Keely powered vehicle" , I see what you did there 😂😂😂

  • @midimusicforever
    @midimusicforever Před rokem +854

    We've made a lot of progress in the last 120 years. This machine was stuck in Keely's house, while the Nikola could actually roll down a hill!

    • @LoveClassicMusic0205
      @LoveClassicMusic0205 Před rokem +65

      I love when Patrick referred to it as gravity powered. LOL

    • @hgm8337
      @hgm8337 Před rokem +32

      which is about as much as the uneconomically designed Tesla semi-will ever do, with a required 17t battery for a comparably ranged ICE vehicle lol

    • @origin2211
      @origin2211 Před rokem +19

      True, the battery mass to freight mass ratio on the semi is a joke

    • @Ryan-Fkrepublicnz
      @Ryan-Fkrepublicnz Před rokem +9

      @@origin2211 they are going to make up for it with the hot air!

    • @shea8830
      @shea8830 Před rokem +7

      @@hgm8337 see you in 2 years I guess

  • @jonathantaylor6926
    @jonathantaylor6926 Před rokem +459

    The fact that he kept it going for 26 years is actually really impressive.

    • @michaelsmith4904
      @michaelsmith4904 Před rokem +36

      After his death ,Keely’s supporters pointed to this fact as proof that Keely himself was the new form of energy…

    • @rkan2
      @rkan2 Před rokem +4

      Greatest inventor of his time indeed!

    • @Vid_Master
      @Vid_Master Před rokem +13

      Yea, how was he never caught?! and with so much money invested as well.

    • @badhabitz69
      @badhabitz69 Před rokem +3

      Respect!!

    • @knobjob2839
      @knobjob2839 Před rokem +2

      Legit.

  • @mrkeogh
    @mrkeogh Před 6 měsíci +35

    I had no idea _vaporware_ actually comes from a true story about a vapor-based scam 🤷🏻‍♂️

  • @leadingauctions8440
    @leadingauctions8440 Před rokem +701

    It is amazing how things do not actually change.

    • @AlexanderTheGoodEnough
      @AlexanderTheGoodEnough Před rokem +12

      even underpants. you'd be shocked how many people wear the same ones day after day.

    • @GPGOLDENTEE
      @GPGOLDENTEE Před rokem +8

      History doesn't repeat, it rhymes.

    • @poprawa
      @poprawa Před rokem +1

      You are so hateful toward Musk, why? :D

    • @maxmeier532
      @maxmeier532 Před rokem +13

      Whenever investors got nervous he would announce a new product just around the corner? Why does this sound so familiar, if only I cut put my finger on it.

    • @bruhb7611
      @bruhb7611 Před rokem

      @@GPGOLDENTEE History repeats. First a tragedy, then a farce

  • @PurushNahiMahaPurush
    @PurushNahiMahaPurush Před rokem +104

    “It would be financially insane to buy anything but a Keely vehicle”
    Lol I see what you did there

  • @Kertgaferg
    @Kertgaferg Před rokem +87

    The more things change, the more they stay the same.

    • @PBoyle
      @PBoyle  Před rokem +15

      Thanks!

    • @seditt5146
      @seditt5146 Před rokem

      ​@@PBoyle You're wrong my guy, dude was in no way a fraud. He used ultrasound, microwaves and Faraday waves in meta powders to produce effects we are just starting to reproduce with metamaterials, sasers, and atomic theory. If he was a fraud he would have needed to be the single greatest prophet in scientific history which is unlikely. The fraud claim came from a reporter hired after his death to discredit him as a new revolutionary motor and fuel source would be detrimental to some seriously large players of the day. He maybe exaggerated some of his claims which sadly was common of the day as experimentalist had a habit of describing their work in the most ideal circumstances. There is Zero chance of him being a full on fraud and instead he was simply working with ultrasonic and infrasonic Faraday waves.

    • @Michau940
      @Michau940 Před měsícem

      Things around change, humans not so much.

  • @OhNotThat
    @OhNotThat Před 6 měsíci +15

    My favorite part of the John Ernst Worrell Keely story is when he bought the the Tweedr and Son Transcontinental Electric Newsgraphic Telegraph Company for 3 million silver dollars to boost his public image only for it backfire miserably and company winding up in the great panic of 1896. Followed by his world famous Mission to Mars via his patented Hyper Cannon for his Mars Colony ventures he presented to an international audience at the Chicago World's Fair which amounted to nothing after building just one Hyper Cannon and never actually firing it. He sold so much prime Martian farming land, I wouldn't be surprised if HE was the cause of the panic itself.

    • @gavinjames8749
      @gavinjames8749 Před 2 měsíci

      Keely,in later life,apparently moved the hyper cannon to his farm in Kansas(secretly,in a tunnel).After putting his previously unknown twin brother in his place he apparently launched for Mars where he possibly still lives.

  • @Sandyfaceroll
    @Sandyfaceroll Před rokem +344

    I love that you didn't make the direct comparison to Kealey's current incarnation, and yet the message was still loud and clear. Subtle mastery. 👍

  • @Strykenine
    @Strykenine Před rokem +372

    Man, I sure am glad that we've moved on to a more enlightened era where we don't fall for this kind of obvious bullshit anymore.

  • @kevinbarry71
    @kevinbarry71 Před rokem +47

    Did this guy ever propose sending a submarine into a cave?

  • @phucle2076
    @phucle2076 Před rokem +54

    You should include a Disclaimer: "Any Resemblance to Any Modern Day Tech Billionaire/Stock Promoter Is Unintentional."

    • @juvepersempre7383
      @juvepersempre7383 Před rokem +8

      Stock pumper you mean.

    • @davesprivatelounge
      @davesprivatelounge Před rokem +4

      Definitely doesnt rhyme with melon rusk

    • @davesprivatelounge
      @davesprivatelounge Před rokem +2

      @@juvepersempre7383 govt subsidy enjoyer

    • @steve.k4735
      @steve.k4735 Před rokem +3

      really? and I suppose as a private company SpaceX didn't really land astronauts on the Space station , or rockets on platforms at sea, or reusable rockets, or have dominant share in ALL space launches or help the Ukraine with Starlink tech.
      Tesla has began production of its own batteries. is world number 1 in EV production, has designed its own chips for both its vehicles and supercomputer is using giga presses and by VWs own estimation can make a vehicle 3 times faster than VW can (using old tech and old methods are they?) and in Austin Texas just built one of the largest factories in the world ..
      you almost certainly used a qwerty 1873 keyboard to type your message yeah but what you used was new tech wasn't it, tech builds on tech
      you don`t haver to like Musk but he is real not a vaporwave salesman.

    • @eslofftschubar206
      @eslofftschubar206 Před rokem

      ​@@steve.k4735 Tesla's batteries are produced by Panasonic. The reusable rockets are not spaceX's invention. He -> claims

  • @AndyPanda9
    @AndyPanda9 Před 6 měsíci +6

    Loved the subliminal dancing robot in Keeley's photo!

  • @jdrancho1864
    @jdrancho1864 Před rokem +62

    The most valuable part of Keely's enterprise, I think, is that stock certificate. As a collector's item, it might fetch a pretty penny today.

  • @tipsyXtwo
    @tipsyXtwo Před rokem +47

    A master class in skewering a financial celebrity without ever saying his name. I tip my hat to you, sir.

  • @soham3156
    @soham3156 Před rokem +11

    This video left me speechless, I have never seen a metaphor used to perfectly

  • @bozosarma2510
    @bozosarma2510 Před rokem +46

    Love the Tesla robot dancing in the background!

    • @danielstapler4315
      @danielstapler4315 Před rokem +2

      AI day is coming 30/9/2022 and we should see the prototype unveiled. (That isn't a promise)

  • @lupf5689
    @lupf5689 Před rokem +22

    I wish I had heard about the story of John Keely several years ago. Somehow I had to learn the hard way, that getting the fundamentals, market position and technological portfolio of a company right, isn't enough to enter a short position. That might have spared me from losing some money shorting Keely's company, after he announced they are close to automating driving, building alien dreadnought factories and will sell a bunch of solar roofs. It seems Keynes was actually right about markets being able to stay irrational for quite some time. Of course I knew better back then. Oh well, good old hubris. -.-

    • @davidriddell5294
      @davidriddell5294 Před 6 měsíci

      😅😅😂😂😂

    • @francisnopantses1108
      @francisnopantses1108 Před 6 měsíci

      o7. Part of the reason I never shorted him was seeing how the press would just run after his cocktail napkin musings like they were real and substantial and not "Monorail!"

  • @quahodron2756
    @quahodron2756 Před rokem +50

    Thank god, that the greatest inventor of our time is absolutely no scammer at all, right? RIGHT?

  • @chi-jenyang9752
    @chi-jenyang9752 Před rokem +48

    The same is happening with so many so-called revolutionary energy storage technologies.

  • @alandonaly457
    @alandonaly457 Před rokem +579

    I thought this was going to be about Elon Musk, instead I learned something, thank you Patrick.

    • @toomanyaccounts
      @toomanyaccounts Před rokem +209

      it is about Elon Musk. the hyperloop was shown

    • @MRT-co1sd
      @MRT-co1sd Před rokem +48

      Keely is the Granddaddy.

    • @thestormwar
      @thestormwar Před rokem +51

      It's both but still learned.

    • @quixomega
      @quixomega Před rokem +127

      Patrick is very subtle in his digs, he's too classy to be that direct.

    • @webbryan1
      @webbryan1 Před rokem +88

      7:00 dancing robot from Elon’s demo shown opaque

  • @Psi01
    @Psi01 Před rokem +16

    The Keely Motor Company was used as an example of a vaporware salesman in this video. Fast forward to not that long ago, and the world got Nikola Motors, who also touted that they had a working, highly producible hydrogen fuel - powered combustion engine that would revolutionize the automobile industry. If it sounds too good to be true, it probably is. The same applies to "no risk, high reward" schemes of which you can be sure there is no shortage of in the world.

  • @Darkskindiplo
    @Darkskindiplo Před rokem +8

    The violin bow across the tuning fork killed me

  • @bozosarma2510
    @bozosarma2510 Před rokem +245

    Best Elon story yet!

    • @FlorianWendelborn
      @FlorianWendelborn Před rokem +10

      So, how are people driving Teslas then? How does the ISS accept SpaceX deliveries?

    • @MnMEminem
      @MnMEminem Před rokem +10

      Not to blow your horses, but comparing this to a guy that invented reusable rockets, a feat deemed impossible less than 60 years ago is a bit moronic don't you think? Not to mention his dedication to EV before it was "cool and trendy"...
      disclaimer: I'm not Elon fan but this comparison is ridiculous!

    • @Abhishek-zb3dp
      @Abhishek-zb3dp Před rokem +6

      @@FlorianWendelborn It's an imaginary product. The cars actually run on gas.

    • @Abhishek-zb3dp
      @Abhishek-zb3dp Před rokem +7

      @@verynice5574 The videos of rocket landing back are actually just the launch videos shown in reverse.

    • @partypooper8198
      @partypooper8198 Před rokem +14

      @@FlorianWendelborn people are driving teslas and the rockets because there are some amazing engineers and massive team that actually make things possible. you're missing the point that Elon makes everything about himself as being the founder or inventor of these rEvoLuTioNaRy ideas that have actually been around for dozens if not hundreds of years.

  • @Sizifus
    @Sizifus Před rokem +23

    I wonder if Musk can break Keeley's 26 year streak with his self-driving vehicle technology as if you watch his interviews he's been promising "fully autonomous vehicles next year" since 2015...
    He has surpassed Keeley for at least providing a product, but there's still a lot of deception in his promises and it's likely done to get that financing to get the ball rolling for another year.

    • @rkan2
      @rkan2 Před rokem

      At least Musk is delivering a product, even if that is not quitw what he promised...

    • @duckblast
      @duckblast Před rokem +3

      @@rkan2 CyberTruck? Semi? Tesla solar? Full self driving?

  • @dieyoung8259
    @dieyoung8259 Před rokem +179

    Patrick Boyle, dropping knowledge on a Friday afternoon. Life is good.

  • @Fbdagm2011
    @Fbdagm2011 Před rokem +18

    If you were an assassin, Patrick, you’d appear as a gentle gust of cinnamon scented wind, and leave unnoticed with all your targets dead on the floor. Fantastic vid! Thank you.

    • @TheWingedLemming
      @TheWingedLemming Před 6 měsíci +1

      Is that you, Mr. Pratchett?💙

    • @FBDAGM2023
      @FBDAGM2023 Před 6 měsíci +2

      @@TheWingedLemming The question is, does Patrick use magic or physics to slay his enemies?

    • @TheWingedLemming
      @TheWingedLemming Před 6 měsíci +1

      I'm new to Patrick's channel, so I cannot say for sure. As a newcomer's guess, though... It would appear he uses facts to reveal the truth. Hmm, must work for William de Worde.📰
      (edit for spelling)

    • @FBDAGM2023
      @FBDAGM2023 Před 6 měsíci +1

      There’s magic in the facts he strings together. He’s viscous and you’d never be able to tell. Like a ninja version of Jane Austen on steroids, armed with a mini-gun. He’s worth playing back for the gentle back stabs alone.

    • @FBDAGM2023
      @FBDAGM2023 Před 6 měsíci +2

      Nice to know that other generations have thrown up visionary futurologists whose stuff will be ready ‘next year’, though, isn’t it?

  • @Perzyn
    @Perzyn Před rokem +114

    I have to admit - I had to search for John Keely to see if he was real, because his story sounded like a thinkly veiled alegory for some of the companies and enterpreneurs operating currently. But no, turns out that there simply is nothing new under the sun.

    • @UnfilteredEmotion
      @UnfilteredEmotion Před rokem +7

      Elon musk has nothing to do with John Keely if that's what you're hinting at. Elon musk did set up the path for electric vehicles mass production and reusable rockets. They're all real inventions.

    • @whateverymanshouldhave3481
      @whateverymanshouldhave3481 Před rokem

      @@UnfilteredEmotion Real, eh? Real stupid. These things don't save energy, all they do is use energy faster than what already exists.

    • @Perzyn
      @Perzyn Před rokem +27

      @@UnfilteredEmotion Nothing? Hyperloop, The Loop, Tesla Truck, Tesla Bot, Starship, Full Self-Driving... I guess there's absolutely no similarity.
      Yes, unlike Keely he provided some products that are viable. Doesn't change huge amout of vapourware and showmanship bullshit he slings.

    • @tenningale
      @tenningale Před rokem +1

      Musk is the most obvious fraud of all time

    • @cliffordwigg1638
      @cliffordwigg1638 Před rokem +19

      I would add that he didn’t invent the electric car heck he wasn’t even the founder of Tesla so maybe there is more similarities than one might first think.
      Eycth, thank you for pointing out Musk for me I would have never made that connection without you 🤣

  • @simondelorean
    @simondelorean Před rokem +68

    Gosh, I just love your content. 26 years, guess I have to reconsider my Tesla put option strategy.

    • @hhiippiittyy
      @hhiippiittyy Před rokem +10

      "The market can stay wrong for longer than you can stay solvent."
      J.M. Keynes

  • @stanpak007
    @stanpak007 Před rokem +9

    I love the subtle dance of the Tesla Bot when showing the Keely's portrait!

  • @miketheneanderthal9490
    @miketheneanderthal9490 Před rokem +804

    I didn't realize Elon Musk was 150 years old.

    • @jjj8317
      @jjj8317 Před rokem

      Damn, someone is edgy. I bet you also think that society will end be ause Elon bought Twitter. Haha. Tesla is quite successful, and Space X literally made the US the leader in space traveling once again. The rockets are less than 1/4 the price of Russians ones, using American standards, and they are rehusable.

    • @miketheneanderthal9490
      @miketheneanderthal9490 Před rokem +13

      @@jjj8317 🙄 I'm sure you believe that. As far as Twitter goes, 👍 keep it up Elon!, maybe it will be your atonement.

    • @thewhitewolf58
      @thewhitewolf58 Před rokem

      @@miketheneanderthal9490 man lost so much ad money and is putting his telsa stock in the garbage at the same time. I guess its "everything is going as planned" as they would say. Or is it because hr pretended to mr free speech yet bans anyone at will? Hard to decide.

    • @thewhitewolf58
      @thewhitewolf58 Před rokem +55

      Elons power is using daddies money to buy other companies.

    • @nemeanlioness
      @nemeanlioness Před rokem +9

      First of all it is Eron Musk, Elon is just his stage name. Secondly 4 million vehicles in sales say your full of crap. Yes I hate both sides equally

  • @Vandelay666
    @Vandelay666 Před rokem +54

    This story reminds me of someone from the present time, a guy who also distract people from his failed attempts

    • @Zaerki
      @Zaerki Před rokem +2

      I think I know who you're talking about, that guy that lands reusable rockets and has created incredibly efficient electric vehicles that yield a total cost of ownership of half an equivalent ice vehicle. Right?

    • @xponen
      @xponen Před rokem +2

      ​@@Zaerki Space Shuttle is more iconic. And albeit not as fantastic, Nissan Leaf was the first mass produced EV. In an alternate timeline space plane become the pinnacle of reusable space launch vehicle, eg: the Soviet dubbed their Buran (space shuttle) as like "mankind making a pyramid" during the first televised launch, and EVs nowadays will be dominated by Japanese company with the release of Toyota Prius Hybrid, and then EV Nissan Leafs, and so on.

    • @Zaerki
      @Zaerki Před rokem +1

      @@xponen Focusing on your EV statement, the Toyota Prius is a hybrid, not a BEV. The Nissan Leaf is produced at a loss for Nissan, meaning it cannot become economical until the cost to manufacture is reduced. This prevents large scale investment and manufacturing increases, which also impact the margin in a negative cycle. I know of no other Japanese manufacturer aggressively pursuing EVs - if anything it's likely the Chinese will create compelling EVs in the future, not the Japanese. Toyota is not on board with BEVs and will face many hardships in the coming decades.

    • @4R53Hole
      @4R53Hole Před rokem

      @@Zaerki ​ It is my understanding that Toyota are focused on hydrogen, as it makes more sense in Japan.

    • @mikecounsell
      @mikecounsell Před rokem

      @@4R53Hole 😂😂😂😂😂 Hydrogen 😂😂

  • @Kevin_Street
    @Kevin_Street Před rokem +76

    What a great story! Thank you for making this video. Keely sounds like quite the character, a charlatan with a sense of showmanship extending his scam long past the point where anyone else would have had it fall apart. Twenty-six years!
    "...whenever investors became agitated about a product not being delivered, he would dazzle them by announcing an even more exciting new product which was always right around the corner, one year away from being delivered..."
    Yes, there truly are some lessons we could learn here. ;-)

    • @fingersm
      @fingersm Před rokem

      Was Keeley "autistic"?

    • @Twangaming
      @Twangaming Před rokem +2

      Sounds like Teslas FSD promises

  • @caneprints
    @caneprints Před rokem +21

    What amazes me is how even smart people can be fooled so easily. parents and our educational system really need to teach critical thinking skills, asking questions, requiring evidence and having a healthy dose of skepticism about everything, especially stuff on the Internet and in the popular press. being book smart is not enough, we also need to be streetsmart.

    • @sebhuh10
      @sebhuh10 Před rokem +2

      Anyone with a relevant engineering degree can spot these scams from miles away. So yeah, you'd need to be booksmart to spot these things. If you were street smart, you'd fall for these because these snake oil salesmen opt for the emotional manipulation route. Make you feel enthusiastic of what would be possible with the product rather than understanding it's workings. Turns out investment into your own solid education is better than anything else

    • @thewoode1050
      @thewoode1050 Před rokem

      @@sebhuh10 way too many people with degrees but no working bullshit detectors running around though...

    • @steviesevieria1868
      @steviesevieria1868 Před rokem +1

      @@sebhuh10 turns out your entire statement is a fallacy. Turns out your conclusion is not worth thinking about.

    • @carolgebert7833
      @carolgebert7833 Před 6 měsíci

      Agreed. Scams are getting bigger and more brazen. Entire governments have swallowed global scams. We really need to embrace skepticism as a virtue.

    • @trevorstrugatsky1172
      @trevorstrugatsky1172 Před 6 měsíci +1

      ​@@steviesevieria1868Honestly, just teaching children the first and second laws of thermodynamics would insulate them from a lot of these scams. A few other basic guidelines and principles would allow them to poke holes in the rest. But I do agree that critical thinking skills and a few street-smart rules of thumb (e.g. if it seems too good to be true, it is) would also work. The shame is that so many people reach adulthood having neither.

  • @kyle_iverson
    @kyle_iverson Před rokem +285

    I love the Musk trolling, keep up the good work.

    • @veerkar
      @veerkar Před rokem +8

      Haha. Yeah funny to see Tesla bot at 7:00 :)

    • @skydragon3857
      @skydragon3857 Před rokem +4

      @@veerkar lol i was looking for this comment

    • @bighands69
      @bighands69 Před rokem

      @@veerkar
      Tesla Bot is a real research project based on existing AI that Tesla has developed. The Bot is based on the revenues and profits of Tesla so that example would make no sense. Anybody with half a brain would see that it is not trolling and just crap talking.

    • @peter.g6
      @peter.g6 Před rokem

      @@veerkar Tesla was founded 19 years ago and delivered tons of things. No idea what pointing to a product announced less than a year ago proves. Any company that innovates has stuff they plan but haven't delivered yet, right?

    • @kyle_iverson
      @kyle_iverson Před rokem +3

      @@veerkar lol I didn't even catch that, I made this comment right after the "It would financially insane to buy anything other than a Keely" comment, that's hilarious with the bot superimposed over the photos lol.

  • @tenningale
    @tenningale Před rokem +17

    Nice to know that we're so much smarter now and would never fall for such nonsense again. Meanwhile, I can't wait for Felon Husk to deliver FSD, Roadster 2, Semi, Cybertruck, solar tiles, robotaxis, robot, brain chips, hyperloop, NYC-DC 29-minute ride, Mars, etc.

    • @Winnetou17
      @Winnetou17 Před rokem +5

      No need to wait, tomorrow he'll deliver all of them!! It's really not that hard. Quick, buy more shares and a Vesla car, it would be financially insane not to!

  • @jahanzebrr
    @jahanzebrr Před rokem +17

    Elizabeth Homes from Theranos was definitely inspired by Kelly's story. 💀💀💀

    • @mvpfocus
      @mvpfocus Před rokem +3

      Keely?

    • @maxmeier532
      @maxmeier532 Před rokem +1

      @@mvpfocus Zuaeli?

    • @av_oid
      @av_oid Před rokem +4

      Keely, however the story made me think of Theranos before Tesla. Listen to the Dropout podcast - it’s astounding that Theranos lasted as long as it did.

    • @mvpfocus
      @mvpfocus Před rokem +1

      @@maxmeier532 ?

  • @Mimi-hn9fp
    @Mimi-hn9fp Před rokem +52

    More videos like this please. Those who fail to remember/learn from history are doomed to repeat it's mistakes. There's nothing new under the sun.

  • @GodotOfficial
    @GodotOfficial Před rokem +7

    Some say that Trevor Milton and Elizabeth Holmes had posters of John Keely in their bedrooms when they were growing up

  • @knipfer454
    @knipfer454 Před rokem +13

    Big Daddy Boyle is about to drop some wisdom nuggets.

  • @AnexoRialto
    @AnexoRialto Před 6 měsíci +4

    Amazing how magical energy machines are still a successful con even in the 21st century.

  • @Dujma89
    @Dujma89 Před rokem +68

    He didn't mention TSLA at any point during the video, but we all know what this is all about, just shows how much history repeats itself. Brilliant video as always Patrick. Would love to see more collaboration videos with other finance channel like The Plain Bagel and Money & Macro.

    • @danielstapler4315
      @danielstapler4315 Před rokem

      Elon Musk will be the world's first Trillionaire. Buy some TSLA shares and cut yourself for a bit of the pie.

    • @jimdoherty8041
      @jimdoherty8041 Před rokem +3

      Check out the background image at 7:00. Seems pretty obvious to me who Patrick is talking about.

    • @website_garage
      @website_garage Před rokem

      Nice modern times examples are Theranos, Elizabeth Holmes and Nikola, Trevor Milton.

    • @SasquatchsCousin33
      @SasquatchsCousin33 Před rokem +2

      Yeah, selling 400k vehicles/quarter now, making billions while scaling up to twice that in a year's time really must be the same sort of vaporware discussed in this video

    • @mikecounsell
      @mikecounsell Před rokem

      It’s about Nikola not Tesla, you’re just showing your ignorance 😂😂😂

  • @dingdingdingdiiiiing
    @dingdingdingdiiiiing Před rokem +7

    6:59 it was at this moment, that I checked if I was subscribed, and to my dismay, I was not, but now I am. The subtlety and broad view on the subject matter has not been overlooked and it is much appreciated.

  • @kencarpenter1363
    @kencarpenter1363 Před rokem +44

    Keely makes today's scammers look like amateurs. I wonder how much more he could have scammed people if he had been active in our time.

    • @xeridea
      @xeridea Před rokem +3

      IKR, when I heard he had this "new form of energy", I was thinking perhaps he carried it on for a year, then completely astounded, 26 years! People were very gullible back then, but even so, this is mind boggling.

    • @RustOnWheels
      @RustOnWheels Před rokem +12

      Yeah, inventions like a vacuum tube train, rockets from one city to another, tunnels everywhere… I wonder if he would be the richest man on earth in this century 🤔

    • @RustOnWheels
      @RustOnWheels Před rokem +7

      “Just wait, FSD is coming! Next year! Or a truck, or a pickup, or solar roofs, or internet for everyone!”

    • @runescapefan0001
      @runescapefan0001 Před rokem +5

      @@RustOnWheels at least he's consistent. His products are always coming "next year"

    • @kencarpenter1363
      @kencarpenter1363 Před rokem +1

      @@RustOnWheels Yeah, I guess we do have the modern version.

  • @flaviusjustinianus
    @flaviusjustinianus Před rokem +5

    One of the few really informative finance and business chanels on YT

  • @gogudelagaze1585
    @gogudelagaze1585 Před rokem +10

    The editing in this video is absolutely brilliant.

  • @pdrg
    @pdrg Před rokem +26

    So dry, absolutely love it

  • @jondmt
    @jondmt Před rokem +28

    Now who does all this remind me of?! 🤔

    • @danielstapler4315
      @danielstapler4315 Před rokem +3

      Roadster, Model S, Model X, Model 3, Model Y, Powerwall, Mega packs, FCOS, Autobidder, Solar Roof, FSD, ... Semi Truck, Cybertruck, Roadster 2.0, SpaceX ...
      Factories in Freemont, Nevada, Buffalo, Shanghai, Berlin, Texas.

    • @elcaro5140
      @elcaro5140 Před rokem

      Yourself and everyone but Elon?

    • @danielstapler4315
      @danielstapler4315 Před rokem

      @@ingulari3977 Tesla Semi deliveries start end of 2022. Cybertruck middle of 2023. We are not talking about FSD.

    • @jondmt
      @jondmt Před rokem +2

      @@elcaro5140 you’re so tense, get yourself a massage and relax. I wasn’t even thinking of Elon Musk - the fact that he was your go to guy regarding vaporware says a lot about your confidence in him

    • @jondmt
      @jondmt Před rokem +1

      @@danielstapler4315 you’re so tense, get yourself a massage and relax. I wasn’t even thinking of Tesla - the fact that they are your go to company regarding vaporware says a lot about your confidence in their products

  • @bossg2817
    @bossg2817 Před rokem +4

    I like this kind of series combining history and finance. Keep posting this kind of content Patrick! This is excellent!

  • @RoryStarr
    @RoryStarr Před 4 měsíci +2

    The overlay of the dancing "android" from Musk's presentation was subtle and brilliant.

  • @omarwest2430
    @omarwest2430 Před rokem +3

    Beautiful allegory. I would love a video about these delusional investors' mental processes, Dr. Boyle.

  • @Nikola_T_Markov
    @Nikola_T_Markov Před rokem +16

    The joke at 7:00 is another level

    • @joels7605
      @joels7605 Před rokem +6

      420 seconds. That is just beautiful.

  • @TopJewShalom
    @TopJewShalom Před rokem +8

    Brilliant writing and a dash of deja Vu. Excellent video!

  • @springer-qb4dv
    @springer-qb4dv Před rokem +11

    Musk: I will show my mind boggling Tesla-bot by September 30 2022!!!

    • @danielstapler4315
      @danielstapler4315 Před rokem

      Roadster, Model S, Model X, Model 3, Model Y, Powerwall, Mega packs, FCOS, Autobidder, Solar Roof, FSD, ... Semi Truck, Cybertruck, Roadster 2.0, SpaceX ...
      Factories in Freemont, Nevada, Buffalo, Shanghai, Berlin, Texas.

    • @maxmeier532
      @maxmeier532 Před rokem +2

      And robotaxis in 2019! Wait, that year is it?

  • @richardtrujillo8427
    @richardtrujillo8427 Před rokem +10

    Oh Patrick, another marvelous video. Thank you. I really look forward to, and enjoy them all.
    I hope that when there is more information, you might look into retail disasters like the one unfolding with Bed Bath and Beyond in North America. It seems, besides running out of cash, the company's stock may have been manipulated by Canadian billionaire Ryan Cohen, potentially with the collusion of JP Morgan and the late CFO of the company who, two days after announcing a restructuring of the business and some new financing, threw himself from the Jenga tower in NYC. The late CFO had worked for many years in London, before taking the job with BBBY in 2020.
    Is it crazy to imagine that inside the books, something may be amiss? You would evaluate that best, in my opinion. Cheers.

  • @xntumrfo9ivrnwf
    @xntumrfo9ivrnwf Před rokem +28

    Patrick has a great sense of humor :D:D

  • @TrebleWing
    @TrebleWing Před rokem +5

    I think it's actually very easy to see why folks in that time were so willing to accept new fundamental forms of energy and power like this, since this was the golden age of all the electricity and motor science discoveries; new and fundamental natural truths were being discovered and invented left and right.

  • @kaalvoetpiet3442
    @kaalvoetpiet3442 Před rokem +10

    Imagine after this still naming your motor company: “Geely”

  • @mandog2142
    @mandog2142 Před rokem +6

    Patrick's discussion of vaporware outlines Bill Gates' Microsoft strategy to a tee.

  • @harrybrown6014
    @harrybrown6014 Před rokem +8

    He's exposing a newer con without naming him: There is a clue at 7:00 in the timeline.

  • @UnitedTheLegend
    @UnitedTheLegend Před rokem +4

    Incredible video, as always! I've never watched a video here without learning something new.

  • @tommcmullen2656
    @tommcmullen2656 Před měsícem +1

    this is probably one of the most digs at musk without ever mentioning musk lol .... love it

  • @andrem82
    @andrem82 Před rokem +2

    Andrea Rossi, and his bogus cold fusion device, comes to a mind as a modern day Keely.

  • @MarkH10
    @MarkH10 Před rokem +6

    Sitting here in Las Vegas, now that I have seen this I think I will go drive in the tunnel loop which has not demonstrated a single attribute the government bought. Notice I cannot use my extension on this part of town.

    • @bighands69
      @bighands69 Před rokem

      It is not finished because the pandemic meant that Tesla could not focus on the mechanic systems. Nice try and being stupid though.

    • @samuelglover7685
      @samuelglover7685 Před rokem

      Better hope nothing goes wrong, since there's apparently absolutely no provision for escape in case of emergency. Absolutely brilliant engineering, that. Hell, even the Titanic had *some* lifeboats.

  • @Dwightstjohn-fo8ki
    @Dwightstjohn-fo8ki Před rokem +1

    We had a TV talk host in LA in the sixties called "Joe Pyne", a one legged Marine who invited on his show all kinds of (entertaining) NUT BARS AND nut cases that had "inventions" just like this, and he'd rip them a new one. Today? 17 years olds with pimples living at home are "influencers' and making huge coin doing "rug pulls" on their generation. Nothing has changed but the "vehicle" available TODAY is scary. That college fund Aunt Edna just dropped into your checking account can be gone in moments.

  • @lctriguy69
    @lctriguy69 Před rokem +2

    Great vid, Patrick! I had never heard of this before.

  • @Shannon_Vlogs
    @Shannon_Vlogs Před rokem +60

    Another engaging video! Great storytelling! I never knew where this term “vaporware” came from!

    • @eddiec5036
      @eddiec5036 Před rokem +2

      @Brian Waas hey hey hey now!!!!!! Star citizen isn’t Vaporware. It’s more like… humidware… or moistware. There is some value to the game at the moment.

  • @carlknibbs2849
    @carlknibbs2849 Před rokem +4

    Patric I've missed your videos.. Your are great thanks...

  • @bluedunn374
    @bluedunn374 Před rokem +16

    Now this term makes more sense to me, and I realise I was a Vapourware employee…sigh

  • @dafriese6479
    @dafriese6479 Před rokem +1

    Fantastic video - watched the T-Robot release afterwards and couldn’t stop smiling

  • @aminemohamed4899
    @aminemohamed4899 Před rokem +4

    Hi, enjoy your content, keep on the good work, it made me remember a certain Tweeter runaway buyer, and the inventor of the hyperloop, thank you!

  • @dubz4828
    @dubz4828 Před rokem +8

    Lol I had to google Keely about 3 minutes in just to verify this wasn’t some long form joke about Elon Musk. The parallels are absurd.

  • @adinameissner2271
    @adinameissner2271 Před 3 měsíci +2

    “Any other car than a Tesla in 3 years will be like owning a horse.” The next big thing is still always around the corner.

  • @jayaybe1
    @jayaybe1 Před rokem +1

    5:59 Sounds like some elaborate technological seance.

  • @TheMrFishnDucks
    @TheMrFishnDucks Před rokem +6

    Super informative and entertaining video. Keep up the good work.

  • @THC4k
    @THC4k Před rokem +18

    I can't imaging such a scam lasting for 26 years today. Even Theranos only lasted 12 years from idea to bust and that probably started as legit research for a few years. Maybe the modern version is something like Uber, a very unprofitable company that is promised to turn around as soon as magic self-driving cars are invented, which is always just on the horizon.

    • @RobJT
      @RobJT Před rokem +6

      I’m, you realise this video is about Elon Musk yeah? He’s the modern version of this.

    • @60-second-HACKS
      @60-second-HACKS Před rokem

      @@RobJT You must be talking to a fanboy. How could he NOT know that.

    • @Dwightstjohn-fo8ki
      @Dwightstjohn-fo8ki Před rokem +3

      @@60-second-HACKS the difference is Musk has several 1,000 satellites in orbit and several million vehicles on the ground being actually driven. He's the "Howard Hughes" of his generation. He's NOT referring to Elon Musk. But he could be talking about Ellison (Oracle in the early days) or Marc Cuban (vacuum cleaner salesman that got lucky).

    • @johnnypopstar
      @johnnypopstar Před rokem +4

      @@Dwightstjohn-fo8ki > He's the "Howard Hughes" of his generation.
      Hahaha no, he isn't. Not even remotely. And, if this video *isn't* talking about Musk, why is every single statement about how Keely operated phrased to *exactly* match what Musk does, and why does Musk's fake "robot", aka guy in a leotard dancing, show up at one point?!

    • @cjwest9094
      @cjwest9094 Před rokem

      @@RobJT lol yeah those reusable rockets are just giant scam 😆🤦‍♀️

  • @waterfuel
    @waterfuel Před rokem +2

    In 1800's Philadelphia, Pa, Mr. Keely's later model instrument called "Liberator" was shown operating and developing 23000lbs pressure as through small tubing to small chamber before raising up weight on warehouse weight scale. The scale arm had negative 14 to one leverage with 500lb weight so as more than that value was needed to counteract the weight so as was raised up. No gauges mounted anywhere. I figured this out many years ago as it was probably another one of his fake systems. See picture of unit in - book- Universal laws never revealed. Picture has horizontal tank with vertical tuning forks . Tank was shown as beginning empty by pouring water in one end and out other end, so as no pressure. After 15 seconds of vibrations and the spring wound up fan stopped turning, the heavy weight went up on the scales. I conferred with an engineer and had specs diagram made showing my methodology of it's "real" operation! Pressure tanks had one turn valve on end. Keely's shop had lots of money to purchase parts. He had standard valve at one end of tank with homemade valve at other end. You can see line on that end of tank , where the tank was sawed , and rewelded back together. There was another PRECHARGED horizontal air pressure tank within, with screw in internal rod that opens inner tank to fill space in between tanks, using outside screw valve. Just like releasing air from a car tire with poker. There was no air compressor in Keely shop or nearby buildings. Keely had in shop ,1865, a 40HP engine that turned a rotary type hydraulic fluid screw pump that would pump water into a hidden under floor sphere tank up to 30,000lbs pressure. He used that to refill various tanks. The special gas , Keely called ETHER, was humidified air. Just like a homeowner's well with cellar water pump that fills small house water tank to 40lbs pressure. Water released near bottom of tank is 40lbs water. Pressure released at exact upper top area has large air bubble and will release 40lbs MOISTURIZED AIR pressure. The fan included on the Liberator was a noise maker to cover up the air noise coming out in between tanks. Keely said the tank was extremely heavy due to heavy wall thickness steel. and was clamped attached to the Liberator. The tank was heavy because there were 2 tanks. He had earlier purchased the engine assembly from a worker at a New Jersey machine shop that he visited regularly. The unit had been previously used to bilk a Doctor out of much money until he refused to pay more. The Disintegrater device with small hollow steel ball was the last water unit. The doughnut shaped pressure tank was covered with shiny brass and refilled by opening diaphragm valve hooked to tubing. The other diaphragm valve on table pushed small pressure to open other one so as pressure released from tank went to hollow steel ball. Keely said that water was changed to Gaseous ETHER. Keely had one US Patent on compound flywheel design , that was also used on the upstairs "Great Keely Motor" The table support leg was hollow , so as rotating belt was within was turning the large spoked wheel, from power downstairs under floor water turbine, turned by hydrant pressure to building. he let the water soak down through the dirt under the floor. See other data by special reading of newspaper article- Keely, the Monumental fraud of the century, New York Journal And Advertiser, January 29, 1899, pages 12,13, 19, special order from Interlibrary loan, or read for free on internet.

  • @ratrat5755
    @ratrat5755 Před rokem +1

    Love the way you expalin stuff! Good job Patrick!

  • @chancerobinson5112
    @chancerobinson5112 Před rokem +8

    There’s a sucker born every minute. The day after the club was invented, crime and technology got married. They’ve been together ever since!

  • @samuelglover7685
    @samuelglover7685 Před rokem +4

    He never got around to "inventing" a hyperloop?

  • @thewitchdoctor8855
    @thewitchdoctor8855 Před rokem +22

    i thought this was going to be about Elon Musk , but now I see how history repeats.

    • @termitreter6545
      @termitreter6545 Před rokem +2

      How is this comparable to Musk though? Im not a fan of the guy, but hes delivered a ton of legit shit with Tesla and SpaceX.

    • @SergeantSarge
      @SergeantSarge Před rokem +3

      @@termitreter6545 and what about his vapourware?

    • @fedorrussel3810
      @fedorrussel3810 Před rokem +2

      @@termitreter6545 Tesla is barely even profitable though?

    • @termitreter6545
      @termitreter6545 Před rokem

      @@fedorrussel3810 Yes, but Tesla was the first to somewhat break into the mainstream with electric vehicles. E-cars just sucked.
      Nowadays there is competition to Tesla, but that only came afterwards. I think Teslas also still got a range advantage for the price.
      Also, Ill note that Tesla mainly can make losses because its blown up by speculation and investments.
      And really, if you gonna compete against Toyota, Volkswagen and co, you got a near-impossible task. Taking a while to get profitable isnt exactly embarassing.
      I dont even like Elon Musk personally, but at least Tesla+SpaceX are very valable, they drive progress.

    • @termitreter6545
      @termitreter6545 Před rokem

      @@SergeantSarge If you try 10 things and only succeed 2 times, then yourve still brought more progress than someone that didnt try anything.
      And heck, SpaceX/Telsa challenged some of the most entrenched, hardest to enter markets in the world. Markets that didnt see much progress for a long time.

  • @markomak1
    @markomak1 Před rokem +6

    1:04 That was a well-deserved swing at Musk.

  • @kloyster
    @kloyster Před rokem +6

    Wonderful lesson, thank you Patrick!

  • @keepmoving1185
    @keepmoving1185 Před rokem +5

    Well done as always!

  • @Paul_Wetor
    @Paul_Wetor Před 4 měsíci +1

    Love the subtle visual commentary at 7:01.

  • @crisprtalk6963
    @crisprtalk6963 Před rokem +5

    Say what you want but Keely seemed to be a master at understanding human behavior and psychology.

  • @chrismartin5870
    @chrismartin5870 Před rokem +5

    There was (may still be) a flying car company that always advertised in the back of Popular Mechanics magazine for years. Eventually the investment regulator finally shift them down (after ~40 years?) as they never brought a product to market and showed no sign of doing so.......but kept taking the money.

  • @yangmacri
    @yangmacri Před rokem +5

    1:05 made me lol

  • @randydewees7338
    @randydewees7338 Před 6 měsíci

    It never ends. I worked for a fellow, DD, who is a PhD physicist, and in many respects the sharpest person I've met. He was hired by an investor group to do due diligence on the technical merits of their investment - a miraculous engine using water to extract energy from the ether. He said the machine was very impressive, beautiful even. It was well isolated with no visible cables etc. When turned on it would start churning away, running a turbine to power take-off.
    It was a 10 foot high transparent blue container with no obvious hidden compartment for battery and motor. I do optical design, so my hammer is ray tracing - I naturally assumed the compartment was hidden by some trick of total internal reflection. I figured I could find it if I was allowed near it with a laser pointer. It never came to that. The affair didn't last long after DD's report.

  • @mro2352
    @mro2352 Před rokem +2

    “A gun with no recoil, trust me.”
    That army officer should have called him out

  • @ShotgunAFlyboy
    @ShotgunAFlyboy Před rokem +3

    I've seen big companies spin up whole departments chasing some product or outcome that just gets canceled around the due date. There's plenty of this kind of thing to go around.

  • @justinwright6611
    @justinwright6611 Před rokem +5

    Feels so familiar to someone else I just can’t put my finger on it.

  • @charlesblithfield6182
    @charlesblithfield6182 Před 6 měsíci +2

    A few years ago didn’t a famous billionaire state that it would be insane to buy any product other than his for transport?

  • @kurtzepausekurtzepause1695

    Boy am I glad that these times are behind us.
    cough Nikola
    cough FSD
    cough most of crypto

    • @shawnjavery
      @shawnjavery Před rokem +8

      All of crypto tbh.

    • @ettorebugatti6846
      @ettorebugatti6846 Před rokem +14

      cough Hyperloop
      cough Mars colonization
      cough Earth bound space travel
      cough Full autonomous driving
      it was a jab at Elon without saying his name, the whole video

    • @elcaro5140
      @elcaro5140 Před rokem +1

      I have FSD and love it, can’t imagine living without it. The only vaporware is between your ears 😂

    • @TrueKaras
      @TrueKaras Před rokem

      @@shawnjavery Crypto is less of a scam then the current currency.
      Right now it's only kept up on hype, taxes and oil.
      However, majority of crypto was created as "get rich quick" schemes and forgotten now

    • @gregorythompson8627
      @gregorythompson8627 Před rokem +2

      Eh FSD isn't really vaporware. Tesla autopilot actually works. I've driven by those cars on the road; you wouldn't notice a difference if you didn't know what to look for. It works more than it doesn't and there's no shortage of human drivers who are far worse at the task, which disqualifies it from being vaporware.

  • @Ju135
    @Ju135 Před rokem +46

    The fact he made it through this entire video, without mentioning the similarities to Elon Musk is impressive...

    • @bighands69
      @bighands69 Před rokem

      Well see people would then definitely know he is a crap talker if that happened. Musk has a company that produces about 30 billion to 50 billion in revenue selling products that the market wants. Now you may not like those products and may not believe in them but they exist and they are being sold.

    • @peter.g6
      @peter.g6 Před rokem +12

      What similarities? SpaceX is delivering cargo and people to the space station in reusable rockets and Tesla will sell around 1.5 million EVs this year.

    • @ZontarDow
      @ZontarDow Před rokem +13

      @@peter.g6 The constant announcements of new products that never materialise, SpaceX insists that Starship will replace the Falcon 9 the same way Falcon Heavy was supposed to yet has no realistic timetable to entry into service given it's a conceptually dump design without even having a mission parameter to build around, and then there's Tesla which has secretly cancelled more products then it has ever released and already been beaten to the punch for multiple products people think Tesla will revolutionise the market by releasing like the Tesla Semi which has already lost the race for an electric Semi to Kensworth which has already released electric Semis into the market.

    • @theipc-twizzt2789
      @theipc-twizzt2789 Před rokem

      @@ZontarDow Good go tell them Nasa engineers that who find the concept of Starship good enough to use it as moon lander you stupid dumbo

    • @mynameismatt2010
      @mynameismatt2010 Před rokem +3

      Starship has been in development for 6 years and is less than a year away from entering commercial service. That’s lightning fast in aerospace, especially considering the entire manufacturing site and launch site had to be constructed around the rocket development. It’s insane to think starship is behind on anything.
      What “major” products has Tesla cancelled? They’ve delayed several things because of covid and the battery shortage, but nothing major has been cancelled.

  • @cyberslim7955
    @cyberslim7955 Před rokem +37

    "It would be financially insane to buy anything other than {Tesla, SpaceX, SolarRoof}"! Did the scam artist read a history book?

    • @nocomment3294
      @nocomment3294 Před rokem +5

      would rather say there are also no new ideas concerning fraud. everything has already been done, only the tools change.

    • @giovannifrrri5495
      @giovannifrrri5495 Před rokem +3

      Where my solar roof at???🤣🤣🤣🤣

    • @leonfa259
      @leonfa259 Před rokem +1

      The difference is wether the companies actually ship a product to the customers where it can be tested. Tesla and spacex both shipped products. For products like the Tesla Bot and Neuralink that haven't shipped it is less clear and they can still turn out to be vaporware.

    • @mynameismatt2010
      @mynameismatt2010 Před rokem +4

      I mean, it is financially insane to buy anything other than a Tesla car or SpaceX launch. And nobody ever said that about the solar roof.

    • @giovannip8600
      @giovannip8600 Před rokem +4

      @@mynameismatt2010 yeah, my robotaxi works great!

  • @captain_cgc2413
    @captain_cgc2413 Před 6 měsíci +1

    Thank you for your videos. Educational and entertaining.

  • @MikiCab1
    @MikiCab1 Před rokem +1

    Bwahahaha. The dancing Tesla bot in the background was a nice touch.