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When the Ford Motor Company unveiled the Edsel in 1957, the initial reaction from the chattering classes was pure exaltation. The Edsel was widely praised as “the car of the future.” Two years later the Edsel was killed off. “As it turned out, the Edsel was a classic case of the wrong car for the wrong market at the wrong time,” Time concluded when the car was canceled in November 1959. “It was also a prime example of the limitations of market research, with its ‘depth interviews’ and ‘motivational’ mumbo-jumbo.” Could the same be said about cryptocurrency following the collapse of TerraUSD and Luna and the Celsius Network, Voyager Digital and FTX bankruptcies?
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