How a Video Game Predicted the Collapse of Venezuela's Economy
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- Опубликовано: 4 июн 2024
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Medal of Honor Airborne, released in 2007, accurately predicted many of the events in WW2.
I loved that game
Wow I never would have thought that
You got me confused for a few seconds.
Wait what
That's no biggie, it was released after ww2
Edit: To whomsoever who r/wooshed me, get r/wooshed yourself cuz my comment was a joke too
Honestly, this video would've been much better received had the title been: "How the collapse of a video game's economy teaches us about hyperinflation."
Now look at the hyperinflation due to pandemic fears
Seriously, this title is too much clickbait.
@@green0563 Agreed. I like his vídeos but imma have to dislike this one.
It would have been more accurate but not better. RUclipsrs need to balance intrigue and accuracy. The title is still correct and the video is what the title says it is. It just so happens to be a more interesting version of what you wrote.
It is how he does titles, it is his still
"There's no proof that printing money causes inflation" -Actual politician from my country. Fuck my life.
American?
I am concerned about people who actually vote for this type of politicians. 😂😂
@@reeti5958 me too 😂😂
well if you look at the amount printed and at the evolution of inflation you'll see it's not that correlated
@@Beregorn88 we’re getting there
Rename title to: "How a Video Game shared the same fate as Venezuela's Economic problem"
Game: *Has hyperinflation*
Country: *Has hyperinflation*
People: ThE GAme PRediCted ThE CrISis
ALL HAIL THE WISE GAME
Weimar Germany predicted Diablo 3.
@@CarrotConsumer does this mean Diablo IV is set in Nazi Germany?
It’s still a half interesting story the title is just not right.
People seem to not realize that dictators know how hyperinflation works, they just choose to print more money anyways, most often because of government debt.
Me trying to find where the game predicted Venezuela's collapse:
*Discovering something that doesn't exist.*
Well you just got the virus cuz i died in minecraft from a witch
@@tyujg7495. Deus X?
Communism has never been tried, right ?
@@adalgisounoqualunque9033 Yes it have been and you know the result too *Catastrophe*
ADK u prolly didn’t catch my irony
This doesn't have to do anything at all with Venezuela, the only common aspect is hyperinflation, but the game didn't predict the future, nor did it mention Venezuela at all. This is just a clickbaity title, didn't expect this from you, Half As Interesting.
It did mention venezuela for like one sentence
Hes running out of Ideas I think
@@logiknotlogic6586 you know this was a year ago right?
Calm down?
@@jordashi shut up?
“How the internal economy of a video game experienced the same macroeconomic phenomenon as a country with no causal link or interrelation whatsoever”
Kind of misleading title. The only link is hyperinflation, that’s not really a prediction
SplashCity46 yeah
Are you telling me it was actually _possible_ to predict the results of Chavez's genius socialism?
Wait, a RUclips video had a click bait title?
Nooooooo
It's a joke that all flew over our heads lmao
@@JavierSalcedoC Yes, it was very easy to see where it was going, any economist would know what would happen if you tried to control all the resources in a market.
"how a videogame predicted clickbait about venezuela"
*The bait is strong with this one*
Phillip Helgren HOW DOES THIS HAVE 1.3K LIKES YET THIS ONLY HAS ONE REPLY
@@baragonkunfan94thesecondar60 three now
@@baragonkunfan94thesecondar60 its a VIP reply section
Lol
I think that we, the viewers, were expecting to see a video game, from the past, that features Venezuela which has the same economical difficulties that Venezuela experiences today :/
People: talking about Venezuela and Germany
Zimbabwe: am I a joke to you
German inflation: 200 trillion marks for bread
Venezuela: Those are rookie numbers!
Gotta Pump those numbers up!!!
Zimbabwe: *am I a joke to you?*
Post ww2 Hungary: that's cute
what about hungary
Hungary be like: heh, you foolish mortals
Fun Fact: TF2 in July 2019 also predicted the Stock Market crash this year
happy grom
@@bananasunited1231 cooldown
@@bananasunited1231 you can change your name on your google account 3 times before you have to wait 90 days to change it again
Oh yeah, the unusual items glitch
Not exactly a crash tbh
Half as Interesting: "Diablo 3 had Hyperinflation"
Gaia Online: *AM I A JOKE TO YOU???*
This video: How Diablo 3 predicted hyperinflation in Venezuela
The next video: How Plague inc. predicted Coronavirus
The title of the video is somewhat confusing - it implies a direct connection between a game's economy and Venezuela's economy, while in the actual video, the inflation in Venezuela is just a sidenote. Just because inflation happens in different economies doesn't mean they "predict" each other imo
'anticipate' is probably a more fitting word
Predicting something doesn't necessarily mean to cause it
Yea but you have to try to make your irrelevant BS sound relevant somehow ...
@@barackobama6231 If I dropped an egg in the morning, does that mean I predicted my mom dropping her phone in the evening?
@@mogol109 No, but that event is irrelevant. This is more like how people say the Simpsons predicted 9/11 before it had happened. They didn't cause it of course
The video game just made a not-so-similar situation, but the game did not predict Venezuela’s hyperinflation at all.
Yeah I came into this video thinking some story line of a video game involved Venezuela and inflation there and the video game predicted how it went down but nope. Nothing to do with each other at all and its just a story of a video game having its own inflation problems. I drove a car and crashed in a video game once. It predicted my neighbors car crash!
DJPez913 lmao nice comparison
And almost every mmo ends up with this issue. Osrs even has actual Venezuelans doing it! Really though I'm serious
this is actually quite a big problem in mmos in general.
@@DJPez913 : Models vs real life.
1:49 Ah yes, my favorite Kirby game: Diablo III. It has the 5th most terrifying final boss in the series!
Didn't expect this from you HAI man... To quote yahtzee:
"Feels like a betrayal, like getting cut off in traffic by a character from sesame street".
You never actually correlated Diablo III to Venezuela in any way...
because they obviously aren't correlated in any way??? He was just making an example on how the economy of the videogame suffered the same crisis that years later an entire country would suffer too
@@OnlyFabz in other words. We were clickbaited hard by deceptive titles.
@@OnlyFabz the point is that he made a click baity title and this video was low on actual education quality, well below his usual standard
@@OnlyFabz So why put Venezuela in the title if he doesn't need to correlate the two? Just talk about a video having hyperinflation...
CaptainConcerned Sr. kinda i guess
Economy: hey man, I'm not doing too good here
Venezuela: here's some money, see if that works
Economy: no, that just makes things worse
Venezuela: Ah, it's cause I didn't give you enough
Economy: stop doing that and try something else
Venezuela: maybe if the bills were bigger...
Why is Donald Trump pretty and I am not? But why does he only have a wife but I have TWO HOT GIRLFRIENDS who I show off in my masterpiece YT videos? Do you know the answer, dear joey
US Economy: Uh oh, there's a coronavirus shutdown. I'm not doing too good here.
FED: here's some money, see if that works.
...
@John R lmao naaaa we just change everything to dollar.
@John R They were discussing printing Bolivars that cropped off 3 zeroes.
@@theshamanite really here its like 11 zeros off
And with this, I unsubscribe from this click bait nonsense.
1 million is displayed as 100,000,000 in the video, which is 100 million at 3:29
I better be mentioned in the next video for this
Ironically, Venezuelans are right now farming and selling gold in RuneScape for a liveable wage.
Wait, really?
They are all over zulrah and rev caves they are making osrs economy inflate like crazy
Yes. It's pretty interesting. There's an article about it in the Economist.
yeah man uhm, old bolivares were literally used to wipe ass, more specifically 2 bolivares, you could have lots of them, but its value was 0.0000000000001 cents
That's where I thought this was going. I was really surprised it wasn't mentioned.
"If money grew on trees, it would be as valuable as leaves"
-Uncle Pennybags™
Remember no monocle.
What about deforestation
At 3:28 when you say “the stack size is raised to 1 million units” the number on screen is ‘100,000,000’.
I love how this is funny and informative at the same time
I litteraly didn't get an answer how a game predicted the ecenomic downturn in Venezuela.
It had the same problem, only earlier.
Predicted isn't quite the right word though.
How exactly did Diablo III predict Venezuelas hyperinflation?
It simply happened along with Venezuelas hyperinflation, that's no prediction.
You got clickbaited
@@gamalalejandroabdulsalam904 didnt believe hai was doinnthat at first, then i did realize it.
maybe if you had payed attention to the game you could have predicted Venezuela, still a little clickbait
hey Sam, the thing is where on Nebula is the extended segments? I don't want to watch it all over again xD
Quick note as the video didn't really address the root of the Venezuelan mess of an economy. Thing is, in 2003 the government imposed a strict currency control. Creating a black market that reacted to every new currency law. And since the exchange prices were set always lower in the legal (but super harder to get into) market, it became clear that the loophole was to game the system and buy cheap dollars and sell them street value and repeat it until the there were no dollars left.
This wasn't really a prediction, since the video game made no claim to predict a real-world instance of inflation, much less where and when it would happen.
John Chessant yeah
Pretty deceiving title. Diablo 3 didn't actually predict the collapse of Venezuela's economy, but something similar happened to its online economy.
I think that the longer version of those in-game currencies would do well I would love to hear something about those
It didn't predicted Venezuela's economic collapse, it only simulated a hyperinflation
3:28 - did they raise it from 0.25:1 000 000 or 0.25: 100 000 000 I'm getting conflicting info
Enexen same, I was confused
1000% implies that the visuals were right
EDIT: i'm retarded
@@MuzikBike 1000% implies it should have been 1,000,000.
Yeah, he said 1 million, but wrote 100 million...
I'm pretty sure 1 million is correct. Increasing the floor 1000-fold doesn't seem reasonable and doesn't match his 1000% figure. (That figure is also wrong--it should be 900%, not "over 1000%"--but at least it's closer.)
But how tf does it 'predict' hyperinflation in Venezuela? I mean that's just BS, and that title's clickbait. You don't really have to do this, Sam. You are much better than this.
Zing!
In venezula they printed massive amounts of money to pay govt workers who had excessive salaries and to reduce the perceived cost of goods. The same pattern was followed in both diablo and venezula he just didn't explain it very well. Its clear at the end why he didn't explain it well, hes pay walling most of the content.
Communism has never been tried huh ?
When I first click the video, I thought a game made in the early 2000s predicted Venezuela's hyperinflation by its virtual depiction.
But this is not what I got. In a bad way.
@Alex Mercer Hes just pay walling the actual meat of the argument. It's possible hes copied someone elses content since I remember watching a video about exactly this some years back that was better than this.
Next: How Wendover Productions predicted all of 2020
*So where's the link?*
I can't to hear about planes. We both know he'll mention one somewhere.
Can’t wait?
:(
and bricks. don't forget about bricks.
@@Vher_ well they have talked about it.. but only on nebula
If planes were made of latex, they would inflate the higher they got due to the fact that the inside pressure is pressurised and outside is not
In case anyone's wondering, the nebula video is like, 30 seconds longer than this one.
So the fact that oil prices plummeted in 2014 had nothing to do with Venezuela’s economy, the most oil-rich country in the world?
The situation in Venezuela is far more complex than hyperinflation. Saying they crashed because they tried to print money is like shooting a deseased person and saying they died because they didn't get proper treatment for the bullet wound.
"How a Video Game Predicted the Collapse of Venezuela's Economy" is sensationalizing what happened. Diablo III stands as more of an isolated cautionary tale.
kakarroto007 yeah
but they need cash and they dont care if it's good. just say stuff that sounds smart and put stock images and gifs behind it.
Honestly I’m unsubbing. Just watch his better channel wendover
@@PHCuber Yeah, and this video didn't mention airplanes even once.
3:28 *that’s some real nice “one million” right there lol*
Yay a video about my country!
-- reads the tile - -
😩
Can't wait for Half as Interesting to make a video titiled, "How a television series ( the Simpsions ) predicted the future".
I'm glad RuneScape taught me everything there is to know about real-world economics.
I'm glad Runescape wasn't mentioned in this video.
Funnily enough, Venezuelans used to farm and sell gold for real money in runescape, even though it was not allowed, because it was more profitable than working.
@@Ardkun00 Isn't the gold coin in WOW worth more than the Venezuelan dollar at one point as well
@@JD-jc5hg
It has been since 2016
@@Ardkun00 not used to - they still do; it's rampant and still has a massive impact on runescape's economy
Low key thought this would be RuneScape somehow
Full version available for $5/month
That was one of the smoothest transitions yet
3:36 What Sam says,"1 million units."
What the number changes to: 100 million units
SLIGHT difference I think.
He also says that was 1000% inflation, when it is actually 1000X inflation.
i noticed that too
He is human
I guess it's something else for the next annual mistakes video
That whole video was a numbers dumpster fire. Trillion vs billion etc.
We're setting a very low bar for predictions. I thought that, at least, Venezuela were mentioned in the game.
“Won’t preform well on RUclips so I put it on a site you have to pay for so I get more money from you.” FTFY
Just noticed an error for whenever you want to put an error clip into one of your videos! It's at 3:29 when you say 1M you've put 100M in the graphic :)
Venezuela is like a game of monopoly where you run into someones property with several hotels on it
I SEE YOU EVERYWHERE
Fingering Things ✔️ but everyone gets $200.000.000 on start
bruh
Or the battleship is a literal US battleship.
Weimar Germany and the rise of Fascism predicted Diablo 3
Can't wait to this video in HAI's yearly mistake video.
The video was great.
I had to dislike because the title is clickbait.
"How a Video Game Predicted the Collapse of Venezuela's Economy"
Why is this the title? Is the question only answered in the Nebula version of the video?
As a Venezuela who stills in venezuela i can tell i cant even understand how this country works I mean I don’t even know how this country stills existing
Russia and Chinese cash to keep it just barely there.
Oh and some Russian special forces to protect Maduro from you guys
I left Venezuela, but .. Same.. I call my family, and I do not understand any of their every day stuff...
Incremental games:
You can start with 10 $
Here is upgrade for 10$
Buy it
Now you produce 1e10 $ per second
Here is another upgrade for 2e11 $
So what happens if you and someone else are on a plane that crashes on the coconut island?
Nobody:
Venezuela: *INFLATION RACE*
IM SPEED
GAS GAS GAS
GO GO GO!!!
@@mrsigmagrinder8737 I'M GONNA STEP ON THE GAS
Put the metal on the pedal
Fun Fact:
It didn't and you got clickbaited.
Still interesting tho
Yea man, normally I love these videos, but the line really isn't here on this one. :\
Also, fantastic name there Recursive triforce
Clickbaited into a 5 minute video full of lame jokes how did this channel become so crap? All the top comments are repeating the same stupid jokes from the video, what’s his target audience? 11 years old?
@Some characters aren't allowed I never said it was lol
Just to inform you guys, we basically no longer use Bolivars (Venezuelan currency), the Dollar is the unofficial currency now and we only use our own for very, very small transactions like paying for public transportation or gas (yes, gas is basically free depending on what station you get it from)
A great explanation of Argentina's economy, good job!
When big youtubers do a video on something you actually know a lot about, you realize they don't really know anything.
yeah, i dont even know a lot about economics and this was just a dumpster fire
Well why didn't you point out the mistakes here? If he's gotten something wrong, people wanna know!
"x PREDICTED y!"
"Actually these two things happened in virtual isolation of one another with literally no direct ties, and there were already much more prominent examples demonstrating the principle of the factors at play much more directly."
"Also..."
"ME GOOD SMART MAN, NOT DISAPPOINT CLICK BAIT, ME MAKE GOOD SMART MAN CONTENT FOR NEBULA, YOU BUY NEBULA."
This has been the most impactful, and negative, event for shaping my opinion of Nebula. :(
As someone who plays EverQuest, can confirm the inflation in that game is insane
I thought you were going to talk about Mercenaries 2? That game predicted a collapsed Venezuela fought over between the US and China.
Feels like you kinda dropped the ball at the end there. Definitely one of your weaker videos
Venezuela: overproduces money
Economy: aight imma head out
yes that is how inflation works
One thing that people often misundertand about hyperinflation is they think it's an accident a crisis that the government is trying to stop. When actually it is intentional and often a desparate measure in response to a crisis.
A three part series on the economics of EVE Online has already been done by Economics Explained. The three videos have a solid 1.25M total views. I think they performed plenty well on YT.
I'm shocked that Matt groening didn't see this coming, yet Blizzard did.
Lol Matt doesn't do the predictions they have a department for that
I'm live on Venezuela and was absolutelly ready to start trowing crap at my country's econony and government. Sadly there is none of that in the video. Kinda disapointing, really
On a sidenote: Saquenme de venezuela por favor
Edit: Oh! BTW People do not really use piles of bills, we rarely use bills for anything other than public transport and stuff like that, when you buy food and that sort of thing we always pay with debit or transfer, there is also a looot of US Dolars moving arround, which are technically illegal, but it's literaly the ONLY way we have to save money
pastebin.com/LYUciHZ4
Ey Sebastian, en marzo del año pasado le escribí ese resumen súper resumido a un usuario de reddit que me preguntó qué ocurría en Venezuela. Ya está desactualizado puesto que Guaido terminó siendo un payaso, pero si te parece bien mi resumen estaría bien que se lo pasaras a la gente que encuentres por internet preguntando sobre Venezuela. Considero que está bastante completo y directo al grano. No está de más informar a la gente. Un saludo
@@DanielGonzalezL That's a pretty good sumary of this whole thing! It's not really "short". But this situation IS very complex! And deserves to be explained. Thanks for sharing, i may point people who want to know more about it to it
@@sebastiangudino9377 thank you! :)
Seems like brazil in the 80s, not that bad thought.
@@DanielGonzalezL No final do seu texto você diz "isso é o que o socialismo fez". Na verdade, isso é o que uma gestão altamente incompetente e corrupta fez.
Socialismo de mercado, como China e Vietnã, possuem resultados bem positivos. O Brasil, que nunca foi socialista, está indo de mal a pior com as políticas mal embasadas.
yay extended video!
Hey HAI in the video at 3:31 you say "1 Million units", what is also said in the CC but it's written 100,000,000 (100 million) units, might check it out)
This tittle is totaly misleading and fake,this desearves a dislike
The greatest hyperinflation took place in Hungary in 1946, when prices doubled every 15 hours...
"Mercenaries 2 World in Flames" Predicted the Collapse of Venezuela.
Experience playing the game: never did the gold thing, just hoarded it because I was a wee little child who was like "no mines"
The villain in diablo 3 is just diablo. Unless you get the reaper of souls expansion, then you fight that b*tch Adria on the side and the main boss is an evil angel who wants to exterminate humanity because they were technically born from demons.
Oh and the gold thing, more on that. Also don't hate on Haedrig for no shirt, he prolly in a tough spot from losing his wife. I don't play multiplayer often now, but sometimes I play with my family and we're all rich to the point of not knowing what to do with it because the money thing was a no and we still play. Also its surprisingly easy to find treasure goblins and they give you a heck ton too. Also the only thing worth spending any form of currency on is really the rifts and the random chance for good shit or like a few other random things. Still no use to spend the gold even tho its 2020, ohhh and the only time to actually buy things is in the first act when you have nothing so that you actually have gear like bracers because those aren't the most common things to drop and you wanna get ur armor up.
-A diablo player...
Before watching, I am going to guess this is about Runescape.
Edit: Nevermind.
The RuneScape economy is surprisingly stable. It's actually more stable than Venezuela's.
Youd be forgiven for thinking that, only a matter of time before venezuelans destroy osrs
Jblover_ 301 that’s already happening with the influx of gold farmer bots :(
*Next video: How bricks predicted the COVID-19 pandemic*
He has released a brick video on Nebula
Lol!
Somebody copied your comment lol
There is little to no way that what happened in Diablo III could predict Venezuela. The only similarly is that of hyperinflation. The Diablo example resulted from a bug. This bug let the players (citizens) print excess money. However, in the case for Venezuela and the Weimar Republic it was the government that caused hyperinflation through rampent spending.
A more relatable example could be that of the US before the creation of the Secret Service in 1865 where more than 1/3 of US currency was counterfeit. This was because bills and coins were issued by each state through individual banks, which generated many types of legal currency. With so many different kinds of bills in circulation, it was easy for people to counterfeit money. This (obviously) resulted in hyperinflation that benefited those who were able to counterfeit, just as how it was only the players that exploited the bug that became richer. The US government, and Blizzard actively try to stop hyperinflation. Venezuela however, under Nicolás Maduro's presidency has no sign of stopping. Hyperinflation as a result of government spending overwhelmingly hurts the population more than the government's that cause the problem.
Still not a perfect exmaple, but much better then using Venezuela. You make really good content, just this one missed the mark for me.
I liked this video solely for the kirby joke. Gave me a good chuckle
...Does this parallel the development of Venezuela's economy at all? Aside from the click-bait, he video itself was poorly done. You started with the basic economics lesson we've heard a million times, but then didn't bother to actually explain what went on. When you said the minimum transaction was 25 cents, do you mean that 25 cents got you 100,000 gold and viceversa?
Perhaps instead of random graphs, you should've presented some actual graphs?
It's not explained well in the video at all. My understanding by looking online is that you could spend a minimum amount of 25 cents at a time and trade the exact amount of 100,000 gold at a time (called a "stack"). So it was not possible to buy gold cheaper than 400,000 gold per U.S. dollar. As a matter of fact, gold was not quite so cheap at the time, but it was approaching that rate, so Blizzard changed the stack size to 1,000,000. This made it possible to buy 1,000,000 gold for $.25 if people were willing to do so.
Sam also left out a primary driver of inflation in Diablo: bots. Robots could accumulate gold over time for just a few cents of electricity and internet, and this continued to inflate the supply of gold faster than sinks could take it out. When the stack size increased, many people operating these bots (which are against the rules but hard to stop) realized that the price of gold would likely drop soon and started selling off their gold as fast as they could at a discount. This increased the rate of inflation further, and soon the price reached the new floor of $.25/million. Later on, the stack size was redenominated again to 10 million, with predictable results. Gold reached the new floor very quickly.
The analogy to real hyperinflation is actually pretty good. Economic mismanagement caused rapid inflation, and the misguided response of redenomination accelerated the inflation, a story we have heard several times before. But the analogy to Venezuela in particular is not great, because that's not what happened this time.
@@EebstertheGreat These videos are becoming all jokes and build up with no facts and story. He should've cut out a lot of the fat and actually talked about what went on, instead of the weak RL parallel and teaching people how money works.
Then there would've been time to talk about the bots and make clear what went on. Though, originally these videos started based of wikipedia pages... so it's possible he doesn't have or understand those details.
I’m just curious, did Blizzard eventually fix it? If so how? Did they just delete the players’ gold through code or actually applied an in-game solution to this?
They removed the auction house completely. Later, they almost completely disabled ingame trading too, but they also made gold much more useful.
The video was also incorrect on the reason for the RMAH, the true reason was Activision wanted a piece of the pie for those real money transactions. It was like eBay, every transaction had a fee that went into Activision's pocket.
That is really a recurring problem with MMO economies: it has no way of inducing "scarcity" in the environment...
Thx
@@axelpatrickb.pingol3228 It could have a way to induce scarcity but players wouldn't like it, no one likes low looting odds and high trade taxes.
But in videogame we can generate any number of goods. It's just a number in a shop's inventory. We can always generate goods for generated money to support them. I do not understand how this can be broken?
This title is as much correct as a title saying that World of Warcraft predicted the Corona virus ( the corrupted blood incident )
That's clickbait for ya! Gotta love it
Last time I was this early I could still meet with my friends
Can’t meet with friends if you have no friends 😔
Could you add the "there is an extended cut on nebula" at the beginning of the video? Afterwards it kind of meh because you've already seen most of it.
This is REALLY good advice.
This is definitely your best video 👏🏼
He mentions EVE while I mine in nulsec... OK, you got me there.
A combined version of many Economics Explained videos.
Sam has done in again.
Gold crashing the ingame economy of Diablo 3
TF2 unusual hats: "Hey, I've seen this one before"
What do you mean? It's brandnew!
crate depression man
Me playing tarkov seeing the price of everything increasing every patch: *chuckles* I'm in danger
Hey did you notice that when it says the cap was lifted to 1 million it showed 100 million