Before anyone gives Bloomberg too much credit, remember that they were told about FTX's insolvency months before the collapse, and elected not to report on it, because it might hurt their ad rev.
I wonder if this isn't in anticipation of that becoming a bigger story after his conviction. They were more concerned with having an invitation to the corrupt party than e posing the truth of it as journalists. That's the difference between media that helps maintain entrenched interests and media that exposes the truth in a way that requires resources.
@@johnl5350 I have always despised Chuck Todd for this very reason. He always seemed too cozy with some of his guests on MEET THE PRESS both on the Democratic and Republican sides of the ledger. He wanted to be their friend because they ran in the same elite social circles, so he could only be so tough on them with his interview questions because he would see them at their parties on the weekend. Don't bite the hand that feeds you. It's just annoying and a conflict of interest really.
I love how Bloomberg reporters don’t mention they turned down the story in June 2022 because it would “limit access” and alienate their advertisers- they’re covering for their own complicity and conflict of interest.
Yep, I can't remember who tried to give them the story, but Coffeezilla interviewed him around Nov '22. Shameful. Bloomberg specifically turned down the story for fear of losing access to FTX. People need to never forget the media sources, big and small, that helped sell this guy to them. He was a fraud all along and they flat didn't want to know.
It's because the Democratic party benefits greatly from this corruption. The scumbags care more about the Democratic party being in power than they do about our own citizens
only 18 minutes into this and I've already lost count of the number of times I've hit the 10 second skip button to get past the long stretches of ominous music and warped clips of buildings and neighborhoods, to get to actual dialogue
Same. I appreciate b roll ect, but this definitely feels like they were contractually obligated to incorporate at least 20 minutes of AI generated art. The placements were weird and relevant to the topic only like a third of the time. Who sponsored this?? LOL
This vid could be 20 min long if they cut out all the ambient/backround scene/music nonsense. Im halfway through and checking out. It's unusual, i typically like Bloomberg. Oh well
Morality or immorality have, I believe, little or nothing to do with this whole thing. Anyone with any brains whatsoever could see SBF was a scam artist right from the very start. Anyone who depended on articles and writing which "idolized" SBF ignored common sense (to put it mildly). Why would anyone with any sense trust this guy or his sandbox friends in the first place?
They were part of the power plant for the Ponzi pump. If I could recognize it, there's no excuse for professionals. They not only didn't inform anyone, they helped hide the ticking time bomb. A lot of these finance media places presented SBF as a wunderkind, parents above reproach, all that kind of thing. Even when he went on podcasts and literally explained his business in the same terms you'd describe a Ponzi scheme, they never even hinted that this might be a scam.
O'leary should NOT have been given such a prominent role at the end of this doc. He is NOT objective and had only invested $850K while he was compensated $14M as an FTX spokesperson. He is NOT honest!
Having Mister Scam O'Leary in your video shows this video is cobbled together. There is no vision behind this video. Don't worry. There are a lot of youtubers that make much higher quality material you can trust.
Scam O’Leary has NO credibility except what the NBC/CNBC/MSNBC gives him. Seems like they feel invested in him due to Shark Tank and other prominence so they cannot just drop him. He goes from a huge crypto skeptic to an unabashed supporter and the only reason is his FTX compensation for endorsement. When will the NBC team realize they are undermining their own credibility?
I was watching another documentary on FTX and i read in the comments how his/her uncle worked 3 jobs, put his entire life savings, lost it, and committed su1c1de....i dont feel bad at all for the tech bros or the rich people who lost millions of dollars and convinced others to invest, but for the little guys, is both devastating and heartbreaking.
The 2nd quarter of 2024. They've had the money and announced it months ago. This is why media and lack of objectivity are dangerous. Media painted the story way worse than it actually was, because that's what makes them money. Because they made Sam out to be this horrible person, people like this guy thought he actually stole their money and it was gone. In reality , his attorney's at the time told him he was allowed to use for company-related means. The same attorneys also advised him to file bankruptcy and then became the lead counsel for the bankruptcy effort .....and are trying to get $1 billion of customer money as payment. @@allie_hart
I love how they put people like Kevin O'leary in this piece. As if he's one of the "victims" while having made 4.3 million on the exchange, also paid 15 million to be "an official spokesperson for FTX" by SBF
That's the facade !!!!!!! Dont you think many Celebrities and Media houses like Bloomberg themselves did not make Dirty money ?? Hope the US laws had more Teeth like ones in Middle East, where people like O'leary would have been given 1000001 Lashes in public, or worst sent to "Chop Chop Square " !!
@@TheAed38your bank also lends your money to other people. Your online stock broker or your ETF also lends your shares to other people. The difference is that SBF knew that alameda research will not pay the money back nor tracked it, so he is committing fraud together with his little girlfriend. If you are purchasing a multimillion penthouse in the Bahamas or gifting several millions to your parents even though you company doesn’t OWN any cash because you are insolvent, than you are stealing.
Hahaha spot on @TheAed38.. @renpilak6048 what do you think how commercial banks work? Didn't the notion of fractional reserve banking became well known after 2008 crisis? Try to get all depositors of any american bank and tell them to withdraw their money at once and see what happens 😂 You can't even get 10% of it.. but don't worry, they're borrowing it temporarily, they'll give it back 😊 and there's this digital alternative to this system, but it's used by criminals only of course, why would we have commodity money or full reserve banking, that's for suckers
@@IVIagicful , FTX was not a bank, it was an exchange 1:1 relationship! It was even stated on its service level agreement that they cannot borrow customer funds! On the other hand, bank customers are aware of how banking works! Traditional brokerage accounts also has 1:1. They make money from transactions fees and from internal trading, not taking funds from customers! Imagine if your broker “borrow” your funds and bet it for his own trading account! That is embezzlement! But, hey! People like you who support Scam Sam must need to check your morals!
Fun fact about the whole toyota thing - he had a sports car before. He made a concious choice to buy a toyota to change his image, to market himself as this humble, charitable guy. I wonder how much deeper this fraud goes, who else was involved besides his parents, his friends.
Roy yes you’re absolutely right that whole image of geek with the crazy hair T-shirt and shorts with altruistic intentions wasmy opinion hundred percent made that image
I do not. This is what happens when you own too much money and do not take any responsibility. In this respect, someone like Soros may be truly considered a benefactor... (sic).
this is another documentary trying to paint SBF fairly, they didn't borrow customers assets, they stole customers assets, and CZ wasn't in anyway the cause of their downfall
Yeah, he just sounds like a shrewd business person. He invested in something upcoming and then got out just in time. I bet CZ pocketed a lot selling the 20% even when the FTT became worthless.
CZ was the cause, he's a narcissist, dumping FTT at bottom of bear market. Even with borrowed assets Sam could've sold FTT to pay back. CZ prevented that
Sam Bankman Fried can't even form a coherent sentence in an interview. The idea he could speak coherently while most of his smooth brain was focusing on League of Legends is extremely absurd.
1:41:26 "I would say somewhere between 95 to 98% of everything in crypto is garbage, 1 to 4% is valuable and 0.1% is revolutionary" This guy summed it up pretty well
i dont think theres a single valuable thing about crypto based intrinsically on what it is - just gambling. every last one of them. and a way to launder money more easily.
it's cheaper than hiring someone to cosplay young SBF or whatever. All you need is a decent GPU, like some recent NVidia RTX card, even a gamer GPU, and a bit of experience with safetensors, workflows and whatnoy
“Mr. Wonderful” saying “Get over it” is easy to say when you’re still a multimillionaire. But those poor people who lost everything? He doesn’t care. 1:42:30
He’s like a narcissist, still talks as if he has a providential role to play in the world. These are kids with unbelievably inflated egos, who can’t string together a sentence without saying the word “like” three times.
You are right. It’s a pyramid scheme, pretty simple. Billions of dollars lost, Millions of victims, Devastating social consequences but SBF was a charming scamp is the focus. SBF was an evil, manipulative man that bought off selfish, greedy, corrupt politicians and celebrities to make more victims. Shame, shame and more shame.
This is a shallow documentary with a lot of silent filler sections. Moreover it does not provide any insight over what we know so far. There are 30 minute videos on youtube by the Financial Times (titled FTX the legend of Sam Bankman Fried) and from independent youtubers like Patrick Boyle explaining the financial side and the complementary videos on the legal aspect of the trial by Legal Eagle that do a much better job at explaining the entire mess from start to finish without fillers than this 1 hour + video. Pure disappointment especially when one considers that Matt Levine called out Sam Bankman Fried over the FTT token months before the collapse in a Bloomberg podcast - Odd Lots with Joe Weisenthal. Thumbs down.
fillers are not a bad thing. Its arty. Nothing wrong with this really. You can DYOR with other info also so yeah credit due where its due - this is well made.
This is something we can start to expect from now on. AI generated motion graphics for fillers that take almost 30 minutes and add absolutely no value to the entire documentary. A nice scam to artificially lengthen the entire thing. FTX wanted to waste your money by using crypto. Bloomberg wants to waste your time by using AI.
This is basically all the people that could have prevented FTX from happening why it wasn't their fault and that it was basically impossible to know beforehand even though it was just with crypto as a hole. Great
Looking at the documentary from this point it absolutely shows why the whole thing happened: all the people who could have stopped it just thought they themselves can profit from it. Nobody looked at it and asked critical questions. And why should they now. They don't want to protect anybody, they just want to make money.
Blaming Binance for FTX collapse is like me blaming UA-cam for me getting injured. Leary is a crook. This was all planned with a few puppets being used
I didn't read it as 'blaming binance'. I heard it as 'binance was the canary in the colemine'. They were the one that discovered what was wrong and then everyone paid attention. If FTX wasn't in such a bad shape as it was, binance wouldn't have been able to discover FTX' bad financials/
mines more basic or simple - I’d love to blame listening to Pink Floyd or Hawkwind in my formative years for my necessitating self medication into old age. these old artists whom encouraged illicit drug use whom now boast about their healthy life choices are such old bores .
@@sjoerdglaser2794 So, what you are saying is - 'FTX would've gotten away with it - if not the bad situation and binance discovering what was wrong'? Yea, that is the textbook definition of 'blaming binance'.
All O'Leary did was attach his name to FTX for money and he didn't do his research on it because they offered him a deal he couldn't refuse ($15 Million dollars). I think they offered the same deal to others like Robert Kiyosaki (Rich Dad, Poor Dad author) but Robert was wise enough to refuse.
I like that his final quote was "[fraud and scams and wide-reaching financial catastrophe] are part of Capitalism; get over it!" Pretty poor endorsement of capitalism, bud.
I remember when I just got into crypto back in 2019 but later in 2020 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 10k and I’m up with 128k in a short period of time .This comment serves as motivation for all those who have invested and continue to invest in cryptocurrencies with so many losses, do not give up, cryptocurrencies can change your life. Do your best to connect with the right people and you will surely see changes.
As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Myself, I’m guided by Alex Gomez. A widely known crypto consultant
I started working with Alex Gomez back in June, and my financial goals have never been clearer. It’s like having a strategic partner for my money with a solid track record.
funny how they didn't talk about Sam's parties, in office origies, drug abuse, etc. there's an entire otherside to this story that Bloomberg put their blinders on for
From the moment, more media is spent on how the CEO lives than what the company is doing, don't walk, run! I don't care if the CEO drives a Toyota or a Ferrari, but if they start talking about that, likely they try to divert attention.
Well down technically. But it starts to sour the moment they build the scenario that FTX was “forced into survival mode” dipping into FTX budget as Alameda was getting pressed - as we know now they decided to use FYX customer funds well earlier (including 10M for his dad let alone all the millions for political donations and personal gains) It also leaves out how he put out directives to build in the back door to drain FTX consumer funds according to Garry Wang (which is now on the record) as well as other people in his inner circle to make use of customers money for his deals, personal investments … and his connections to SEC’s Gary Gensler - but then how you can end the film with his quote “I just wanted to make the world a better place” is just beyond me. There have been suicides over this! And you portray him as if he just stumbled into his own misery. This is one of the largest frauds in financial history and you offer him the soft exit? Jesus … not a good look.
He shouldn’t be allowed to “teach” at Harvard or at MIT anymore! He’s just as immoral as Scam Sam and the rest of them! I wonder how much fees he demanded from Bloomberg.
I really appreciate the dedication in each video you post. To be successful in markets, traders should understand the crossover between asset classes & liquidity flow. Desiree Madison focuses on Multi-asset trading, a single strategy to manage risk, profit, and the code or the actual decision-making across multi-asset classes. Her skills set is top notch.
I love the way they are portraiting him as the main villain but he had his back covered by a lot of important and influent politicians that wanted a piece of the pie. Those people in the shadows will never be brought into discussion.
Why should they he was the one looking for ways to bypass political donations. He was the one who wanted to purchase influence. He was the one who started using money not his to make these things possible. We already know what politicians are like, all of them, not your pet politician that you look the other way no matter what they do. That is the real problem, citizens who are just as corrupt as the politicians. Everything is lost.
You work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K in a meme coin from just few months ago and now they are multimillionaires.❤❤
calling a bank run on an exchange made it look like they want to shift the blame to Binance and CZ. It is an exchange, not a bank, it shouldn't use clients' funds.
@@JJ_FLA I worked in FP&A on a NYC Commercial Bank, there are definitely lending businesses that sits on the asset side of the balance sheet whose funding come from loans incurred from the streets. These lending businesses are funded by loans derived from savings,deposits,CDs, etc. They are required by the FED to have liquidity threshold to avoid a liquidity issue but Banks are definitely loaning depositors money and gaining interest on it. That's how they make money.
@@JJ_FLA ??Banks aren't suppose to use other depositors funds either. And banks dont loan money anyway ?? What banks are You talking about ?? Have You not heard of leverage ?? Of course banks "lend out deposited funds"... That's big part of how they "work" (Please look up "Fractional Reserve Banking") !! Best regards
That O'Leary guy is just disgusting: first he endorses FTX with big fanfare, then (after thousands of people followed his ill advice), he portrays himself as the super savvy investor. If I were him, I'd be ashamed of even showing my face.
@@johnny7121 Dude killed someone had his wife take the rap for him too. Swell guy! Can't WAIT to see what his judgement day will look like with the road hes currently on.
WHY weren't Sam Bankman Fried's parents also charged? Why was there no second trial for those politicians who received that stolen money. They should be named and they should be charged with receipt of stolen property. Where oh where is our Department of Justice?
@@anselmkulet8112 🤣 they are juicing all the money they are paying to the AI guy. And he's just using the publically available AI apps for the content. He's not even a dev. Boomerg
Exactly. Funny how they note "AI generated" for photos but not GAN videos. This 1h47 film could've been 30 mins. Ended with little added insight. An article would've been quicker and more informative.
Terrible film making. This is a 15-min documentary at most, stretched out with gratuitous AI-graphics, inappropriate music that seems to glorify the subject-matter, BS, and general nonsense. Cut to the chase.
When Alan Bond bought the Nine Network from Kerry Packer back in the 80's for one billion, Kerry Packer was quoted to have said "An Alan Bond only comes around once in a lifetime" implying that he paid way too much for the network. Luckily for Kevin O'Leary that a "once in a lifetime" Sony appeared to make an even stupider deal.
It kills me when SBF said him and a few of his colleagues bought an apartment together instead of letting it be known it was a 30 to 40 millions dollars penthouse in an exclusive area of the Bahamas 😅
Didn't Bloomberg turn down the option to write about this back before this whole scandal became more widely known, when they were presented with evidence?
What probably makes Effective Altruism so attractive to people is that the altruism part only happens after you are rich. Beforehand you can just concentrate on getting rich quick - similar to what attracts most people to crypto.
I felt like the only same person when a ton of my friends and acquaintances would not shut up about Crypto, and how "If Shiba Inu only went to a DOLLAR I'd be a billionaire!" I'm 42 and my friends are of similar age, so it's not like they haven't lived through 2 or 3 financial bubbles, scams, and fraud. Religion and Crypto are my biggest urks. Can we please teach actual critical thinking and skepticism at an early age? Didn't think so.
They're trying to save face, giving a reason why they, as somewhat investigative journalists, fell for his shtick, hook, line, and sinker. They can't really say "oh, we were on to him from the start, he's an idiot"
Crazy that something that was obviously a scam turned out to be a scam. Everyone who held water for SBF should be held accountable. Also shoutout to Cas. Crypto Critics Corner is a fantastic podcast.
How was it obviously a scam? FTX had no public solvency issues before their collapse, no public knowledge of the fractional reserve they were running. No public knowledge of the comingling of funds. Nobody knew the scale of the fraud. You knew before the entire industry knew?
I like how everyone is now an expert and all judgemental towards him. But when he was making them loads of money, the same "journalists" and publishers where calling him a genius. Can we have a documentary about how every commentator here is a hypocrite
Oh yeah. Do you happen to be familiar with the concept of "fraud"? The one where the con artist misleads the public with fake and untrue information, builds a false reputation and persona based on it, and everyone is super impressed? So if you haven't been paying attention, this is a movie about exposing one of the biggest frauds ever, how exactly do you think they should react in a right non-hypocritical way? And whether he made them money or not, it doesn't matter, the fact is that he dragged everyone down. How would you, an unappreciated genius, properly react in such a situation?
Anything negative about crypto is considered FUD. People are encouraged to go all in until it turns in to losses then they'll say you shouldn't have invested what you couldn't afford to lose.
Has anyone else had cryptocurrency and tokens explained to them a million times and still not understand how it's not a Ponzi scheme? For the life of me I still do not understand how any of this generates value or wealth
Or Banks doing this stuff yearly. How many banks are under water again ? 500 in America alone because they gamble with peoples pension money... oopsy... Banksters cost the world way more each and every year.
Nice video, but too much time spent on flashy intro scenes and landscape scenes. I found myself saying, "Hurry up and just do the interviews... I don't need a million minutes of scenes of Hong Kong."
Let's be honest: Sam was an outsider to crypto, and thought he could use his Wall St "expertise" to become a big player. He was wrong; he couldn't compete. So he removed a bunch of risk management checks, and when he started to lose money, they pulled money from other people to cover losses. This is just Madoff 2.0, except instead of over 40 years it was just 2. The power of the internet.
Excellent summary. This video really is a pile of dogshit. Not only do they whitewash the hell out of SBF's character/motives, they bring in a fat conman like Bitboy (lol) to represent CT. Listen how methed out he sounds.. and of course, there's that opportunistic slag Tiffany Fong to weigh in.. and they cap it off at the end with lots of commentary from some crooked swine who doesn't know shit about crypto, Kevin O'Leary.
He is not an outsider, he is the child of someone already in the Mafia club. He was born in the club and groomed for this small role that will add much rules and regulations for the serfs of the new Feudal system ...wake up!
Technically this was a self indulgent piece with grossly excessive flash and micro edits constituting at least 30 minutes of wasted time. Substantively, it lacked outside critics outside the Bloomberg organization and outside industry. Note in the first five minutes there was no mention of cryptocurrency as a conduit for terrorists and drug cartels.
Exactly...I kept waiting for them to comment on how much crypto is used by criminals and the crypto mining farms, like the controversial stuff, but all we got was a humdrum "it's a way for people to do transactions without banks looking at it."
I'm an Economist and the thing that shocks me the most in Economics (Finance) is that a lot of people in this industry think they are superior and smarter than the mere mortals, but fall prey to scams that an average person with some reason and moral could easily spot the crash that is about to happen. It's like everybody knows that is a lie but they want it to be true so they continue on that path knowing that it's just a matter of time for it to explode.
Being born and raised in Silicon Valley does not automatically infuse you with wisdom. Having parents who are academic teachers does not automatically make you a genius or scientist.
' I just want to drive my boat fast (enough) over nice water'. That an iconic statement on how fast the stormy weather suprises 'the sailors' in cryptic sea, and then you better put your life vest on and jump out of the boat. For many its not time, far too late to drive the boat (your money) on shore. Haha.
Can anyone explain to me how can someone who stole $8B from so many "little people" can still afford a $250M bail and a life of luxury while awaiting trial...?
rich people live off credit from their assets. SO I buy a fancy house and then put it up as collateral to pay for my expenses. I might even by a yacht with that money and then use that as collateral as well to borrow even more money
@@MsJubjubbirdyeah but Sam declared bankruptcy, meaning his debt exceeded his wealth incredibly large amounts, and he would’ve had to prove he had no valuable assets, meaning he should have zero dollar net worth, meaning he cant leverage debt
An interesting story but there isn't a single word about how deep his parents were into the money. They both have the age, experience and backgrounds to know that there was something very wrong going on with the multiple companies and the book keeping. The tip off to me was their comment "We don't know how the place in the Bahamas ended up in our names." I would have liked a little more balance to the story that included a bit of the family affair that there appears to have existed.
I am so looking forward to the eventual trial of his parents, the more I read about it the more I am sure that they weren't just the wholesome supportive parents the media told us they were
They are being sued for the $32 millions that SBF gave them. They are a POS for not returning the stolen money. The way SBF answered his question, indicate that he had media training. Sounds exactly like a politician giving answers that doesn't answer the question.
@@IGoByAlllexia look at the seed investors. It's all his parents friends. Now go look at who got out at exactly the right time. Same list. This was a very well organized ponzi scheme. They even kept 90% available just in case they got caught. They just modified Madoff's scheme to crypto.
Thank you for a great documentary - but please clarify that crypto is NOT something you "invest" in. It generates 0 revenue, it's based solely on the assumption that at a future date you can exchange it for more. It's a store of wealth, a hedge at best. It's a currency. The difference between it and a gov't backed currency? Every person and business paying taxes. Not bashing crypto but please classify the security correctly.
I am a Bloomberg subscriber. This is a very appallingly poor and lengthy program consisting of a compilation of sound bites, overbearing music, and psychotic visual effects. Bloomberg does nothing but wastes its exceptionally talented and gifted journalists like the insightful Matt Levine, and produces mumbo-jumbo where even definitions of "ponzi scheme" and "venture capital" will even make high school students' skins crawl. The only redeeming quality of this mess is getting a notion of the chronology of events. Since there is no narration or point of view, the viewer is left to judge what happened on his or her own. Unfortunately, there is no serious presentation of facts that are separate from opinions -- which makes this a work perfect for the Post-literate Age, in other words, mostly garbage. It just so happens, garbage is also a characterization of SBF's life, so there is a resemblance between the program and its subject.
I love how they put people like Kevin O'leary in this piece. As if he's one of the "victims" while having made 4.3 million on the exchange, also paid 15 million to be "an official spokesperson for FTX" by SBF🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥
THE ART OF DISCERNMENT. YOU ARE RIGHT. THIS IS TOO MUCH FLUFF FOR A DOCUMENTARY. WILL IT GET A NOD AT THE EMMYS OR AN OSCAR NOD? LET US HOPE NOT. OR ALL AMERICANS WILL BE ON THE VICTIM MENTALITY BOAT TO SET SAIL. NOV 6 2023.
Before anyone gives Bloomberg too much credit, remember that they were told about FTX's insolvency months before the collapse, and elected not to report on it, because it might hurt their ad rev.
I wonder if this isn't in anticipation of that becoming a bigger story after his conviction. They were more concerned with having an invitation to the corrupt party than e posing the truth of it as journalists. That's the difference between media that helps maintain entrenched interests and media that exposes the truth in a way that requires resources.
@@johnl5350 no that's what they literally said. They explicitly told the person who gave them that story that it might turn off advertisers.
@@johnl5350 I have always despised Chuck Todd for this very reason. He always seemed too cozy with some of his guests on MEET THE PRESS both on the Democratic and Republican sides of the ledger. He wanted to be their friend because they ran in the same elite social circles, so he could only be so tough on them with his interview questions because he would see them at their parties on the weekend. Don't bite the hand that feeds you. It's just annoying and a conflict of interest really.
They are using kevin o leary as a voice of reason…..? Hearing that garbage speak in this documentary is a discredits to the entire documentary.
Bet 💯
I love how Bloomberg reporters don’t mention they turned down the story in June 2022 because it would “limit access” and alienate their advertisers- they’re covering for their own complicity and conflict of interest.
The "You had one job" challenge
They were just promoting FTX 😂😂😂😂
Yep, I can't remember who tried to give them the story, but Coffeezilla interviewed him around Nov '22. Shameful. Bloomberg specifically turned down the story for fear of losing access to FTX.
People need to never forget the media sources, big and small, that helped sell this guy to them. He was a fraud all along and they flat didn't want to know.
Tysm
It's because the Democratic party benefits greatly from this corruption. The scumbags care more about the Democratic party being in power than they do about our own citizens
only 18 minutes into this and I've already lost count of the number of times I've hit the 10 second skip button to get past the long stretches of ominous music and warped clips of buildings and neighborhoods, to get to actual dialogue
EXACTLY!!! I just made a comment saying almost the very same thing.
I love the animation and the photography gives visual texture. Horses for courses.
Same. I appreciate b roll ect, but this definitely feels like they were contractually obligated to incorporate at least 20 minutes of AI generated art. The placements were weird and relevant to the topic only like a third of the time. Who sponsored this?? LOL
Seriously, it's like it was edited by a sophomore film student who just finished their noir unit.
All those warped stuff is just AI generated stuff...
"the downfall of Scam Bankman" brought to you by the people who idolised him and convinced millions he was a genius. This is so immoral it's crazy.
This vid could be 20 min long if they cut out all the ambient/backround scene/music nonsense. Im halfway through and checking out. It's unusual, i typically like Bloomberg. Oh well
Morality or immorality have, I believe, little or nothing to do with this whole thing. Anyone with any brains whatsoever could see SBF was a scam artist right from the very start. Anyone who depended on articles and writing which "idolized" SBF ignored common sense (to put it mildly). Why would anyone with any sense trust this guy or his sandbox friends in the first place?
They were part of the power plant for the Ponzi pump. If I could recognize it, there's no excuse for professionals. They not only didn't inform anyone, they helped hide the ticking time bomb. A lot of these finance media places presented SBF as a wunderkind, parents above reproach, all that kind of thing. Even when he went on podcasts and literally explained his business in the same terms you'd describe a Ponzi scheme, they never even hinted that this might be a scam.
@@ctdieselnut Agreed. The style-to-content ratio is pretty grim
Bet 💯
O'leary should NOT have been given such a prominent role at the end of this doc. He is NOT objective and had only invested $850K while he was compensated $14M as an FTX spokesperson. He is NOT honest!
Who is honest? Especially in that world.
Having Mister Scam O'Leary in your video shows this video is cobbled together. There is no vision behind this video.
Don't worry. There are a lot of youtubers that make much higher quality material you can trust.
Scam O’Leary has NO credibility except what the NBC/CNBC/MSNBC gives him. Seems like they feel invested in him due to Shark Tank and other prominence so they cannot just drop him.
He goes from a huge crypto skeptic to an unabashed supporter and the only reason is his FTX compensation for endorsement.
When will the NBC team realize they are undermining their own credibility?
He's an Irishman, no?
The bankruptcy court will claw back much of that.
I was watching another documentary on FTX and i read in the comments how his/her uncle worked 3 jobs, put his entire life savings, lost it, and committed su1c1de....i dont feel bad at all for the tech bros or the rich people who lost millions of dollars and convinced others to invest, but for the little guys, is both devastating and heartbreaking.
Oops, he didn't care that he was getting his money back?
@@NickKautz when? Really when?
The 2nd quarter of 2024. They've had the money and announced it months ago. This is why media and lack of objectivity are dangerous. Media painted the story way worse than it actually was, because that's what makes them money. Because they made Sam out to be this horrible person, people like this guy thought he actually stole their money and it was gone. In reality , his attorney's at the time told him he was allowed to use for company-related means. The same attorneys also advised him to file bankruptcy and then became the lead counsel for the bankruptcy effort .....and are trying to get $1 billion of customer money as payment. @@allie_hart
@@NickKautz22 comments on this one piece. Are you sams mom disguised as an auto bot 🤖
No , I've never met the guy but I see things that most people can't see, which sucks.@@pjg_77
I love how they put people like Kevin O'leary in this piece. As if he's one of the "victims" while having made 4.3 million on the exchange, also paid 15 million to be "an official spokesperson for FTX" by SBF
That's the facade !!!!!!! Dont you think many Celebrities and Media houses like Bloomberg themselves did not make Dirty money ?? Hope the US laws had more Teeth like ones in Middle East, where people like O'leary would have been given 1000001 Lashes in public, or worst sent to "Chop Chop Square " !!
That's ridiculous. There were many people in this documentary that weren't victims of FTX fraud.
Yeah. As soon as he popped up I literally said out loud “what the f*ck is HE doing in this show?”
yeah was somewhat enraged seeing him in this. he was an SBF schemester.
O'leary saying "this is the nature of capitalism, get over it" means "I made money"
“Borrowing” from customer funds without their consent is called stealing whether they intended to pay it back or not.
Go tell that to a bank!
@@TheAed38your bank also lends your money to other people. Your online stock broker or your ETF also lends your shares to other people. The difference is that SBF knew that alameda research will not pay the money back nor tracked it, so he is committing fraud together with his little girlfriend. If you are purchasing a multimillion penthouse in the Bahamas or gifting several millions to your parents even though you company doesn’t OWN any cash because you are insolvent, than you are stealing.
Hahaha spot on @TheAed38.. @renpilak6048 what do you think how commercial banks work? Didn't the notion of fractional reserve banking became well known after 2008 crisis? Try to get all depositors of any american bank and tell them to withdraw their money at once and see what happens 😂 You can't even get 10% of it.. but don't worry, they're borrowing it temporarily, they'll give it back 😊 and there's this digital alternative to this system, but it's used by criminals only of course, why would we have commodity money or full reserve banking, that's for suckers
@@IVIagicful , FTX was not a bank, it was an exchange 1:1 relationship! It was even stated on its service level agreement that they cannot borrow customer funds! On the other hand, bank customers are aware of how banking works! Traditional brokerage accounts also has 1:1. They make money from transactions fees and from internal trading, not taking funds from customers! Imagine if your broker “borrow” your funds and bet it for his own trading account! That is embezzlement! But, hey! People like you who support Scam Sam must need to check your morals!
Actually the definition of theft/stealing is taking it with the intention to not return it.
Fun fact about the whole toyota thing - he had a sports car before. He made a concious choice to buy a toyota to change his image, to market himself as this humble, charitable guy. I wonder how much deeper this fraud goes, who else was involved besides his parents, his friends.
Roy yes you’re absolutely right that whole image of geek with the crazy hair T-shirt and shorts with altruistic intentions wasmy opinion hundred percent made that image
Kevin O'Leary doesn't deserve to have his voice heard by masses of people after what he has done and said. Period.
Dude... he spoke in spanish saying "¿qué pasó, hombre?"... that's all I wanted to hear.
Neither do you.
@@NickKautz luckily I'm not in the video 😂
Kevin O'Leary, "Mr. Wonderful" was an FTX shill. He sold out for money!
At least he's halfway believable.
This is a puff piece. It shows Bankman-Fried in a better light than he deserves.
True - But Crypto is here to stay - nothing will change this
@@Erich560 ANOTHER WHITE BOY WITH A PODCAST!
@@Erich560lmao 😂
Bro you think this is bad didn't you see they got someone to write a whole book to paint this guy in a positive light.
@@ibeenstephcurrywiththeglock tiny hats all sticking together...
Matt Miller says he feels sorry for SBF. I feel sorry for the millions of victims who lost their life savings.
Greedy mercenaries got trimmed...boo hoo.
They left their bitcoin on the exchange rather than taking custody. That goes entirely against the ethos of bitcoin
I do not. This is what happens when you own too much money and do not take any responsibility.
In this respect, someone like Soros may be truly considered a benefactor... (sic).
That poor poor thief. All the money people forced him to steal.
@@northwestcoast I feel like
this is another documentary trying to paint SBF fairly, they didn't borrow customers assets, they stole customers assets, and CZ wasn't in anyway the cause of their downfall
SBF was an insider… insiders get media propaganda protection
Yeah, he just sounds like a shrewd business person. He invested in something upcoming and then got out just in time. I bet CZ pocketed a lot selling the 20% even when the FTT became worthless.
CZ was the cause, he's a narcissist, dumping FTT at bottom of bear market. Even with borrowed assets Sam could've sold FTT to pay back. CZ prevented that
They make that abundantly clear here.
This would be a lot better without all the awful AI imagery
Could've done with 50% less AI hallucinations and 100% less Kevin O'Leary
was thinking the same thing
Yeah. The meaningless ai stuff didn’t add any value at all.
🤣
This easily could've been a 40 min documentary.
Absolutely . That guy is massively overrated
Sam Bankman Fried can't even form a coherent sentence in an interview. The idea he could speak coherently while most of his smooth brain was focusing on League of Legends is extremely absurd.
yea, he probably lost that MMR :)
Many of these crypto types are almost incoherent, speed talking and living in a fantasy world. NO fantasy for the victims.
He’s very OTS.
@@cristy0716 he's not on any spectrum..
This documentary would have been far better without all the headache inducing flashing graphics.
They have to include AI generated stuff somehow. Bloomberg probably invested in some AI company.
No they don't @@rotocoach5397
O’Leary focusing on Binance’s chess move and not the fraud tells you everything.
Totally. Finance are frauds too.
1:41:26 "I would say somewhere between 95 to 98% of everything in crypto is garbage, 1 to 4% is valuable and 0.1% is revolutionary" This guy summed it up pretty well
i dont think theres a single valuable thing about crypto based intrinsically on what it is - just gambling. every last one of them. and a way to launder money more easily.
Same for all investments...@@vannyblutea
@@vannybluteaand to buy human body parts and drugs
Though I'm still not clear on the 'revolutionary' part. And if it is, if the revolution will bring anything positive.
@@vannyblutea "launder money more easily" Thats something valuable to some people isnt it?
HEX is the 0.1%
Wasn't it an obvious scam that's dead now?
Haha not rly
uyes there is much happyness
Hex is a disaster
Motion designer: so how much AI-generated B-roll would you like?
Bloomberg: yes.
Everybody's a critic.
Modern doc makers love to fill their films with b-roll.
I think the idea was to pause long enough for the viewer's thoughts to settle on the content before proceding.@@gordons-alive4940
it's cheaper than hiring someone to cosplay young SBF or whatever.
All you need is a decent GPU, like some recent NVidia RTX card, even a gamer GPU, and a bit of experience with safetensors, workflows and whatnoy
HAHAHAHAHAA LITERALLY
“Mr. Wonderful” saying “Get over it” is easy to say when you’re still a multimillionaire. But those poor people who lost everything? He doesn’t care. 1:42:30
He’s like a narcissist, still talks as if he has a providential role to play in the world. These are kids with unbelievably inflated egos, who can’t string together a sentence without saying the word “like” three times.
Everyone under the age of 35 use that word "like" as if it's an addictive drug
I'm halfway through the movie and it's the longest FTX ad I've ever seen
You are right. It’s a pyramid scheme, pretty simple. Billions of dollars lost, Millions of victims, Devastating social consequences but SBF was a charming scamp is the focus. SBF was an evil, manipulative man that bought off selfish, greedy, corrupt politicians and celebrities to make more victims. Shame, shame and more shame.
This is a shallow documentary with a lot of silent filler sections. Moreover it does not provide any insight over what we know so far. There are 30 minute videos on youtube by the Financial Times (titled FTX the legend of Sam Bankman Fried) and from independent youtubers like Patrick Boyle explaining the financial side and the complementary videos on the legal aspect of the trial by Legal Eagle that do a much better job at explaining the entire mess from start to finish without fillers than this 1 hour + video.
Pure disappointment especially when one considers that Matt Levine called out Sam Bankman Fried over the FTT token months before the collapse in a Bloomberg podcast - Odd Lots with Joe Weisenthal.
Thumbs down.
I am so glad you said that about fillers!! This had great information but they could trim it by 35 minutes just taking out the “ artistic “ fillers!!
fillers are not a bad thing. Its arty. Nothing wrong with this really. You can DYOR with other info also so yeah credit due where its due - this is well made.
Unfortunately American documentaries have a tendency to be like this.
This is something we can start to expect from now on. AI generated motion graphics for fillers that take almost 30 minutes and add absolutely no value to the entire documentary. A nice scam to artificially lengthen the entire thing. FTX wanted to waste your money by using crypto. Bloomberg wants to waste your time by using AI.
@@karelairapetjan9095Right on target!!
This is basically all the people that could have prevented FTX from happening why it wasn't their fault and that it was basically impossible to know beforehand even though it was just with crypto as a hole. Great
Looking at the documentary from this point it absolutely shows why the whole thing happened: all the people who could have stopped it just thought they themselves can profit from it. Nobody looked at it and asked critical questions. And why should they now. They don't want to protect anybody, they just want to make money.
Blaming Binance for FTX collapse is like me blaming UA-cam for me getting injured. Leary is a crook. This was all planned with a few puppets being used
I didn't read it as 'blaming binance'. I heard it as 'binance was the canary in the colemine'. They were the one that discovered what was wrong and then everyone paid attention. If FTX wasn't in such a bad shape as it was, binance wouldn't have been able to discover FTX' bad financials/
mines more basic or simple - I’d love to blame listening to Pink Floyd or Hawkwind in my formative years for my necessitating self medication into old age. these old artists whom encouraged illicit drug use whom now boast about their healthy life choices are such old bores .
FTX got played for fools. They might have gotten away with their loading of Alameda with tokens if they didnt swallow the Binance poison pill
@@sjoerdglaser2794 So, what you are saying is - 'FTX would've gotten away with it - if not the bad situation and binance discovering what was wrong'? Yea, that is the textbook definition of 'blaming binance'.
Binance is just as shady as FTX. CZ is just smart enough to keep his head down and not antagonize the FTC too much.
Kevin O'leary should be cell mates with SBF. Dude was part of it all.
Agreed
Part of it all and plenty of other things besides...
All O'Leary did was attach his name to FTX for money and he didn't do his research on it because they offered him a deal he couldn't refuse ($15 Million dollars). I think they offered the same deal to others like Robert Kiyosaki (Rich Dad, Poor Dad author) but Robert was wise enough to refuse.
@@twinturbo3461 That may not be prosecutable, but it is scummy.
I like that his final quote was "[fraud and scams and wide-reaching financial catastrophe] are part of Capitalism; get over it!" Pretty poor endorsement of capitalism, bud.
I remember when I just got into crypto back in 2019 but later in 2020 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 10k and I’m up with 128k in a short period of time .This comment serves as motivation for all those who have invested and continue to invest in cryptocurrencies with so many losses, do not give up, cryptocurrencies can change your life. Do your best to connect with the right people and you will surely see changes.
As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Myself, I’m guided by Alex Gomez. A widely known crypto consultant
I started working with Alex Gomez back in June, and my financial goals have never been clearer. It’s like having a strategic partner for my money with a solid track record.
@AlexRcoin THAT IS THE USER NAME
THAT IS HIS USER NAME
He used stolen customer money for bail. $10 million gifted to his parents via customer money.
B A I L ? ? J A I L !!
Do we all deserve to be conned for trusting without due-diligence?
funny how they didn't talk about Sam's parties, in office origies, drug abuse, etc. there's an entire otherside to this story that Bloomberg put their blinders on for
Bloomberg stalled on behalf of Feds & SEC.. as if they dint know Consumer Online Verified Identification Digitalized🙄
From the moment, more media is spent on how the CEO lives than what the company is doing, don't walk, run! I don't care if the CEO drives a Toyota or a Ferrari, but if they start talking about that, likely they try to divert attention.
Well down technically. But it starts to sour the moment they build the scenario that FTX was “forced into survival mode” dipping into FTX budget as Alameda was getting pressed - as we know now they decided to use FYX customer funds well earlier (including 10M for his dad let alone all the millions for political donations and personal gains) It also leaves out how he put out directives to build in the back door to drain FTX consumer funds according to Garry Wang (which is now on the record) as well as other people in his inner circle to make use of customers money for his deals, personal investments … and his connections to SEC’s Gary Gensler - but then how you can end the film with his quote “I just wanted to make the world a better place” is just beyond me. There have been suicides over this! And you portray him as if he just stumbled into his own misery. This is one of the largest frauds in financial history and you offer him the soft exit? Jesus … not a good look.
Well said. This doc feels incomplete, almost if it's a part one.
Stanford University is going to give back the $5.5 million Daddy Bankrupt gave them.
Part 2 is when all of crypto goes down....
@@ytsmSeems to me like Bloomberg is more concerned about preserving their ability to raise up the next Sam Bankman-Fried.
@@antondovydaitis2261 Tell us about your Qanon theory.
O"leary should be sharing a jail cell with SBF!
100%
facts
Should be pinned
💯 💯 💯 - And Bitboy as well.
He shouldn’t be allowed to “teach” at Harvard or at MIT anymore! He’s just as immoral as Scam Sam and the rest of them! I wonder how much fees he demanded from Bloomberg.
I remember being in a small Chinese restaurant and opening my fortune cookie and it was an FTX ad. Insanity
wait there’s no way 😭
I really appreciate the dedication in each video you post. To be successful in markets, traders should understand the crossover between asset classes & liquidity flow. Desiree Madison focuses on Multi-asset trading, a single strategy to manage risk, profit, and the code or the actual decision-making across multi-asset classes. Her skills set is top notch.
This is the watered down G-rated telling of the facts.
Yeah, I can only imagine the kind of outright debauchery that was going on down in the Bahamas.
I love the way they are portraiting him as the main villain but he had his back covered by a lot of important and influent politicians that wanted a piece of the pie. Those people in the shadows will never be brought into discussion.
How did they protect him? He went from Hk to Bahamas? And then arrested by the US? Huh?
THIS!!!!
Why should they he was the one looking for ways to bypass political donations. He was the one who wanted to purchase influence. He was the one who started using money not his to make these things possible. We already know what politicians are like, all of them, not your pet politician that you look the other way no matter what they do. That is the real problem, citizens who are just as corrupt as the politicians. Everything is lost.
Tom Brady et al?
they always make phony ass documentaries like this where they vaguely tell everyone what happened but they NEVER point the finger at the true culprits
You work for 40yrs to have $1M in your
retirement, meanwhile some people are putting just $10K in a meme coin from just few months ago and now they are multimillionaires.❤❤
calling a bank run on an exchange made it look like they want to shift the blame to Binance and CZ. It is an exchange, not a bank, it shouldn't use clients' funds.
Banks arent suppose to use other depositors funds either. And banks dont loan money anyway. They are in the business of buying securities.
@@JJ_FLA I worked in FP&A on a NYC Commercial Bank, there are definitely lending businesses that sits on the asset side of the balance sheet whose funding come from loans incurred from the streets. These lending businesses are funded by loans derived from savings,deposits,CDs, etc. They are required by the FED to have liquidity threshold to avoid a liquidity issue but Banks are definitely loaning depositors money and gaining interest on it. That's how they make money.
Exactly, normal customer assets they should have had available. A parking operator is also not allowed to sell your car.
@@JJ_FLA
??Banks aren't suppose to use other depositors funds either. And banks dont loan money anyway ??
What banks are You talking about ??
Have You not heard of leverage ??
Of course banks "lend out deposited funds"... That's big part of how they "work" (Please look up "Fractional Reserve Banking") !!
Best regards
'Fractional reserve' applied to an exchange, works until they have a big payments to make with a lack of liquid cah.
That O'Leary guy is just disgusting: first he endorses FTX with big fanfare, then (after thousands of people followed his ill advice), he portrays himself as the super savvy investor. If I were him, I'd be ashamed of even showing my face.
What's his original last name again?
O'Goldberg. @@KGraceSpeaksKea1335
@@KGraceSpeaksKea1335 if you were him, would you have done the same things he did? think about it.
@@johnny7121 be a greedy hungry.... no. Sorry can't put myself in his shoes nor would I ever want to.
@@johnny7121 Dude killed someone had his wife take the rap for him too. Swell guy! Can't WAIT to see what his judgement day will look like with the road hes currently on.
WHY weren't Sam Bankman Fried's parents also charged? Why was there no second trial for those politicians who received that stolen money. They should be named and they should be charged with receipt of stolen property. Where oh where is our Department of Justice?
bought by the people who the money went too.. don't act shocked we all know all politicians are paid for by the rich companies
bought by the people who the money went too.. don't act shocked we all know all politicians are paid for by the rich companies
What kind of AI you want?
Bloomberg- Yes
has AI generated content in every minute of the video including audio...VCs really trying to push for their AI investments not to fail
@@anselmkulet8112 🤣 they are juicing all the money they are paying to the AI guy. And he's just using the publically available AI apps for the content. He's not even a dev. Boomerg
Exactly. Funny how they note "AI generated" for photos but not GAN videos. This 1h47 film could've been 30 mins. Ended with little added insight. An article would've been quicker and more informative.
this AI animation will not age well, like Photoshop lens flares will seem super cheesy in just a few years.
@@unkopower7899 It's moving too fast in the latent space.
They should aim for less distance and more interpolating steps
Super well made, but lost points for featuring O'Leary (Biggest shill ever) and Bitboy (Top notch scammer). 7/10.
real grifters indeed, was a bit appalled that Bloomberg wanted them on this programme
@@Teo95sero 💯 💯 💯
lol I stopped when I saw Kevin. Glad I didn't stay for Bitboy.
Everybody on Shark Tank are "scammers". Have you not noticed it?
Where was bitboy?
The comments on this UA-cam thread is outstanding! Thanks to everyone that made us think and pay attention to this new crypto world!!!!!❤
“I’m gonna give a billion dollars.” Of money that’s not mine. 😂😂😂
Terrible film making. This is a 15-min documentary at most, stretched out with gratuitous AI-graphics, inappropriate music that seems to glorify the subject-matter, BS, and general nonsense. Cut to the chase.
Seriously, I feel like you need to be on 'Shrooms or something to match the whacky energy they were going for LOL
absolutely
I absolutely love the editing of this film. The crazy transitions are awesome. I really hope it’s not AI, lol. If a person did that, they are awesome.
It should be a crime to interview people who self describe themselves as a "crypto influencer" , these people know nothing and only muddy the waters.
Didn’t Bitboy get arrested recently? Was he the guy that tried stalking his business partner at his house?
Agreed. Found that very bizarre.
More like "Snake Oil Salespeople"
lol Tiffany said they added the title for her and she hated it, it wasn't a self description
i was mostly referring to bitboy and that whole crowd, tiffany does great work! @@diethylmalonate
The level of delusion of people in the crypto space is of the chart. Sam is just one fish in this ocean of scams.
Couldn't agree more!
its all smoke and mirrors
@@gizmo8304 and yet they claim to be better than the financial system
Delusion is when you mistake one validating event for an axiom.
@@jorgesousa6683 yeah, if there's one notable thing about the FTX collapse is that it was the very first crypto scam
When Alan Bond bought the Nine Network from Kerry Packer back in the 80's for one billion, Kerry Packer was quoted to have said "An Alan Bond only comes around once in a lifetime" implying that he paid way too much for the network. Luckily for Kevin O'Leary that a "once in a lifetime" Sony appeared to make an even stupider deal.
It kills me when SBF said him and a few of his colleagues bought an apartment together instead of letting it be known it was a 30 to 40 millions dollars penthouse in an exclusive area of the Bahamas 😅
They did
Didn't Bloomberg turn down the option to write about this back before this whole scandal became more widely known, when they were presented with evidence?
Unbelievable how much almost everyone in this overuse the word "like" so much in each sentence. All I heard is like, like, like.
The credibility of this content went down the toilet as soon as K. O'leary spoke. This is a puff piece.
What probably makes Effective Altruism so attractive to people is that the altruism part only happens after you are rich. Beforehand you can just concentrate on getting rich quick - similar to what attracts most people to crypto.
Sounded like the same blag as Marxism. Strangely, everyone ends up in poverty except the usual suspects.
I felt like the only same person when a ton of my friends and acquaintances would not shut up about Crypto, and how "If Shiba Inu only went to a DOLLAR I'd be a billionaire!" I'm 42 and my friends are of similar age, so it's not like they haven't lived through 2 or 3 financial bubbles, scams, and fraud. Religion and Crypto are my biggest urks. Can we please teach actual critical thinking and skepticism at an early age? Didn't think so.
Why do they keep saying he was so smart? He wasn’t at all he is just manipulative
He was both
he was smart... smart don't mean ethical or not manipulative
They're trying to save face, giving a reason why they, as somewhat investigative journalists, fell for his shtick, hook, line, and sinker.
They can't really say "oh, we were on to him from the start, he's an idiot"
@@jennifermoriarty2188 Smart criminals get away with it for a lot longer, usually.
Maybe smart with IT but not smart in any regular sense. He consistently makes decisions a smart person would never make
I see Mr Wonderful I look away, anything that guy says devalues itself
As a day trader , I know there is no one more genius than markets itself.
Crazy that something that was obviously a scam turned out to be a scam. Everyone who held water for SBF should be held accountable.
Also shoutout to Cas. Crypto Critics Corner is a fantastic podcast.
“Scam”? Tell that the to people who profit from BTC on virtually a daily basis.
How was it obviously a scam? FTX had no public solvency issues before their collapse, no public knowledge of the fractional reserve they were running. No public knowledge of the comingling of funds. Nobody knew the scale of the fraud. You knew before the entire industry knew?
Wasn't obvious to the SEC.
Tether stable coin is a total scam but yet everyone doesn’t see that right now… Monday morning quarterbacking on FTX
@@stachowi How is Tether different than USDC?
I like how everyone is now an expert and all judgemental towards him. But when he was making them loads of money, the same "journalists" and publishers where calling him a genius. Can we have a documentary about how every commentator here is a hypocrite
Oh yeah. Do you happen to be familiar with the concept of "fraud"? The one where the con artist misleads the public with fake and untrue information, builds a false reputation and persona based on it, and everyone is super impressed? So if you haven't been paying attention, this is a movie about exposing one of the biggest frauds ever, how exactly do you think they should react in a right non-hypocritical way? And whether he made them money or not, it doesn't matter, the fact is that he dragged everyone down. How would you, an unappreciated genius, properly react in such a situation?
Anything negative about crypto is considered FUD. People are encouraged to go all in until it turns in to losses then they'll say you shouldn't have invested what you couldn't afford to lose.
Would be great to see a news outlet take their share of the blame for propping up scams like this but alas they won't/
Has anyone else had cryptocurrency and tokens explained to them a million times and still not understand how it's not a Ponzi scheme? For the life of me I still do not understand how any of this generates value or wealth
Anyone taking financial cues from a celebrity in any commercial has much, bigger issues to worry about than they realize.
Yeah. They ought to have their heads checked!
Exactly
😂😂😂 well said
A one hour documentary padded out to nearly two hours
Agree. There was a lot of fat left in this edit and it would have played better with a leaner cut.
Yeah, those stupid montages that have nothing to do with anything. Guessing they get paid for longer viewings.
The silent parts with the windows 95 screen saver were ridiculous - this doc could have been an hour.
@@meanjean3023wow your win95 screensavers were before their time
@@Andarius i think they were great, i wish it was longer lol
I love your analysis, always on the point. And yes, Xeventy is a game changer. Great project!
"Siri, make a collage of tiktoks related to SBF in a style of documentary"
You can do better than that, Bloomberg.
Children with zero experience running multi billion dollar businesses, how could that possibly go wrong?
described 90% of funds
One of the best documentaries I've ever seen, beautifully shot!!!
Woman: "I cannot imagine a scenario where $8B just disappears"..
The Government: "Hold my beer..."
Wow. Underrated comment.
it's like she has no clue what basic banking is based upon. It's all fluff if we all want our money today.
Pentagon *deep breath*
Or Banks doing this stuff yearly. How many banks are under water again ? 500 in America alone because they gamble with peoples pension money... oopsy... Banksters cost the world way more each and every year.
Everyone is protecting him.. its not cool
Nice video, but too much time spent on flashy intro scenes and landscape scenes. I found myself saying, "Hurry up and just do the interviews... I don't need a million minutes of scenes of Hong Kong."
Let's be honest: Sam was an outsider to crypto, and thought he could use his Wall St "expertise" to become a big player.
He was wrong; he couldn't compete. So he removed a bunch of risk management checks, and when he started to lose money, they pulled money from other people to cover losses.
This is just Madoff 2.0, except instead of over 40 years it was just 2. The power of the internet.
Excellent summary. This video really is a pile of dogshit. Not only do they whitewash the hell out of SBF's character/motives, they bring in a fat conman like Bitboy (lol) to represent CT. Listen how methed out he sounds.. and of course, there's that opportunistic slag Tiffany Fong to weigh in.. and they cap it off at the end with lots of commentary from some crooked swine who doesn't know shit about crypto, Kevin O'Leary.
He is not an outsider, he is the child of someone already in the Mafia club. He was born in the club and groomed for this small role that will add much rules and regulations for the serfs of the new Feudal system ...wake up!
“We just had this philosophy that as long as it’s going well, don’t stop”
Clever. Why didn’t I think of this philosophy
59:28 - keep your enemies/competitors closer
1:16:19 - so yeah
1:23:18 - gordon gekko
Technically this was a self indulgent piece with grossly excessive flash and micro edits constituting at least 30 minutes of wasted time. Substantively, it lacked outside critics outside the Bloomberg organization and outside industry. Note in the first five minutes there was no mention of cryptocurrency as a conduit for terrorists and drug cartels.
Drug cartels and terrorists also primarily use the dollar, what's your point?
Exactly...I kept waiting for them to comment on how much crypto is used by criminals and the crypto mining farms, like the controversial stuff, but all we got was a humdrum "it's a way for people to do transactions without banks looking at it."
Bloomberg this isn't gonna make your previous clear endorsement of SBF disappear.
I'm an Economist and the thing that shocks me the most in Economics (Finance) is that a lot of people in this industry think they are superior and smarter than the mere mortals, but fall prey to scams that an average person with some reason and moral could easily spot the crash that is about to happen. It's like everybody knows that is a lie but they want it to be true so they continue on that path knowing that it's just a matter of time for it to explode.
Being born and raised in Silicon Valley does not automatically infuse you with wisdom. Having parents who are academic teachers does not automatically make you a genius or scientist.
does give connection and better opportunity
@@jennifermoriarty2188 I understand, but please let’s not mix two separate currency systems.
True but it almost guarantees that you get into a top school.
Steal from rich people and collapse, go to prison. Steal from poor people and collapse, get a bailout.
Hey Trump far worse don't kid yourself!
' I just want to drive my boat fast (enough) over nice water'. That an iconic statement on how fast the stormy weather suprises 'the sailors' in cryptic sea, and then you better put your life vest on and jump out of the boat. For many its not time, far too late to drive the boat (your money) on shore. Haha.
Enron,Madoff,Elizabeth Holmes, Jordan Belfort,Lehman Brothers,WorldCom,Charles Ponzi,Freddie Mac,Aig...And so on ...and so on
What Lehman Brothers did was not illegal, it was just very very risky…
Being very very risky and hiding the truth for acting very very risky is morally wrong. Legal and moral is two diff concept
@@philthechiller7026..if wht lehman did ws legal how then they wr fined for billions of dollars
Can anyone explain to me how can someone who stole $8B from so many "little people" can still afford a $250M bail and a life of luxury while awaiting trial...?
rich people live off credit from their assets. SO I buy a fancy house and then put it up as collateral to pay for my expenses. I might even by a yacht with that money and then use that as collateral as well to borrow even more money
Mommy and daddy, who should as well be prosecuted.
He’ll be in prison for life and he got his bail revoked for trying to go on the dark web to tamper with witnesses.
@@MsJubjubbirdyeah but Sam declared bankruptcy, meaning his debt exceeded his wealth incredibly large amounts, and he would’ve had to prove he had no valuable assets, meaning he should have zero dollar net worth, meaning he cant leverage debt
Friends in very high places. Sponsored scam.
The production quality of this documentary is over the top. Soundtrack, visuals, editing, everything.
Say you made it without saying you made it.
An interesting story but there isn't a single word about how deep his parents were into the money. They both have the age, experience and backgrounds to know that there was something very wrong going on with the multiple companies and the book keeping. The tip off to me was their comment "We don't know how the place in the Bahamas ended up in our names." I would have liked a little more balance to the story that included a bit of the family affair that there appears to have existed.
I am so looking forward to the eventual trial of his parents, the more I read about it the more I am sure that they weren't just the wholesome supportive parents the media told us they were
They are being sued for the $32 millions that SBF gave them. They are a POS for not returning the stolen money.
The way SBF answered his question, indicate that he had media training. Sounds exactly like a politician giving answers that doesn't answer the question.
@@IGoByAlllexia look at the seed investors. It's all his parents friends. Now go look at who got out at exactly the right time. Same list. This was a very well organized ponzi scheme. They even kept 90% available just in case they got caught.
They just modified Madoff's scheme to crypto.
They likely bankrolled the entire scam, and madeoff with the cash.
Nice! Let's have more of these feature documentaries Bloomberg!
finally something worth watching from bloomberg
Surprisingly (or is it) little about Caroline, the co-CEO of the key entity in all this.
She seems to be very protected
4:44 Kevin O'leary being featured in this doc makes it such a joke. embarassing.
Thank you for a great documentary - but please clarify that crypto is NOT something you "invest" in. It generates 0 revenue, it's based solely on the assumption that at a future date you can exchange it for more. It's a store of wealth, a hedge at best. It's a currency. The difference between it and a gov't backed currency? Every person and business paying taxes. Not bashing crypto but please classify the security correctly.
I am a Bloomberg subscriber. This is a very appallingly poor and lengthy program consisting of a compilation of sound bites, overbearing music, and psychotic visual effects. Bloomberg does nothing but wastes its exceptionally talented and gifted journalists like the insightful Matt Levine, and produces mumbo-jumbo where even definitions of "ponzi scheme" and "venture capital" will even make high school students' skins crawl. The only redeeming quality of this mess is getting a notion of the chronology of events. Since there is no narration or point of view, the viewer is left to judge what happened on his or her own. Unfortunately, there is no serious presentation of facts that are separate from opinions -- which makes this a work perfect for the Post-literate Age, in other words, mostly garbage. It just so happens, garbage is also a characterization of SBF's life, so there is a resemblance between the program and its subject.
WAY too much AI generated crap.
What he said about greed towards the end at 1:43 is soooooooooo real! It's the core of all of our problems.
I love how they put people like Kevin O'leary in this piece. As if he's one of the "victims" while having made 4.3 million on the exchange, also paid 15 million to be "an official spokesperson for FTX" by SBF🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥
“Business ethics 101 to a baby.” Very interesting when your mommy is a professor of Ethics in Law at Stanford.
I really loved the use of AI hallucination art to really portray how the whole FTX fiasco was like a hallucination
Agreed, 👍 to the editor and graphics team.
THE ART OF DISCERNMENT. YOU ARE RIGHT. THIS IS TOO MUCH FLUFF FOR A DOCUMENTARY. WILL IT GET A NOD AT THE EMMYS OR AN OSCAR NOD?
LET US HOPE NOT. OR ALL AMERICANS WILL BE ON THE VICTIM MENTALITY BOAT TO SET SAIL. NOV 6 2023.
superb observation and graphic effects for this documentary.......agreed
does anybody know what AI tool was used for those images?
Impressed by Xeventy's commitment to user control and privacy! The decentralized KYC and personal data vault set a new standard for security.
Kevin O'leary you should not be talking about anything here. Don't teach us greed, we know greedy people including you.
He did save the world he put himself in jail for a 100 years Thank you Sir 😊
25 years, unfortunately.
wow. awesome interviews,stunning visuals…. an extremely well made & informative documentary. make some more like this, please
I felt like someone slipped some Shrooms into my Egga Muffin while watching this 😂 Wicked psychedelic edit goin on 👊.. Enjoy the ride 👏👏✌️😉