“This Isn’t a Ponzi Scheme”
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- Опубліковано 4 жов 2023
- A letter to the jury - Going Infinite by Michael Lewis is a wild attempt to paint Sam Bankman Fried as a well-meaning effective altruist who accidentally lost $8 billion dollars. Misplaced, mishandled, but not stolen.
I have a lot to say about it.
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This video is an opinion and in no way should be construed as statements of fact. Scams, bad business opportunities, and fake gurus are subjective terms that mean different things to different people. I think someone who promises $100K/month for an upfront fee of $2K is a scam. Others would call it the "opportunity of a lifetime." - Розваги
If you ignore all the crimes and corruption he's definitely innocent
Yea I mean that definitely makes sense, if you don’t think about it.
the whole family is innocent 🤣
In a way he admires how good we was wasting the money on ads and stadiums?!?
oh well that settles it, SBF is not guilty hyuck hyuck hyuck
You're not wrong
Anyone who defends SBF needs to have their finances investigated.
Yep.
Anyone who defends SBF needs to have their anything investigated.
Why? SBF is innocent until proven otherwise. Let’s hear the facts first
They don't have any finances because they gave it all to him
@@larrycapija8980SBF is guilty until proven innocent you mean
Michael Lewis just gave a masterclass on how to destroy your credibility and throw shade on all of your previous work in 60 minutes.
Used to be: "follow the money ", now its: "follow the fawning endorsement to the end of rainbow".
Fortune favors the bold😂
I wonder how much SBF paid to get his book written by Lewis.
@@FonderTomato13
ML: How much?
SBF: Yes.
this blew me away bc when i saw the Thumbnail with Michael Lewis im was like oh the guy who shed light on the 2008 financial crisis, his book leading to one of my favorite movies The Big Short
imagine how shocked i was that hes actually fawning over SBF
guess everybody has a price
"I'm Michael Lewis. Welcome to my masterclass." Begins washing SBF's feet
When it comes to millions of dollars lost to fraud, we don’t want a great story. We want a true one
*billions
When I saw the interview done by CBS,I knew they would try to frame a narrative to the public,that isn't real.
Frankly it being true is what makes it great.
Billions! So true. Best comment.
The whole industry was a fraud and everyone knew, nobody cares as long as they made money
SBF is honestly the best thing to happen in my family cuz my parents kept asking me why couldn't I be smart like SBF and now they basically stopped comparing me to other people
😂😂😂😂😂
😂🤣😂🤣
what a funny little positive outcome of all of this
Honestly if my parents did that, I'd rub it in their face. Though I'm an adult, so they have less authority over me now.
When you're parents idolize the wrong role models 😂
Wild times we are living when a man who goes by Coffeezilla is significantly more credible than one of America’s most notable authors. Keep up the great work, sir.
What's wrong with coffeezila? It reeks trustworthiness
Raises the question of how much of his prior writing was also manipulation
@@grabik4402"coffeezilla" the name, sounds like lets play youtuber
@@PenguinCrayon269 nah more like someone who reviews coffe/cafe
@@robertbeisert3315note: this it the guy who wrote the book the blind side
"If no one had ever cast aspersions on the business, if there hadn't been a run on customer deposits, they'd still be sitting there making a bunch of money"
Literally the same could be said of Bernie Madoff
Want to bet he knows his Mom and Dad ?
😂😂
And the worse part? EVEN if there was a run, _as long as they had the money,_ they would still be in business! The problem wasn't FTX getting targeted, it was the fact it was a fraud!
@@blakksheep736 Exactly. It wasn't a bank, so was not susceptible to a run.
@@alexanderSydneyOz not _supposed_ to be suspectible, more accurately. And yet...
"A Ponzi Scheme is where there's no real business, the dollar coming in, is being used to pay the dollar going out."
My man just described how Crypto (and actually, a lot of the finance world) works while denying it.
A Ponzi pays customers their investment, and return, with new customer funds. So, this is not a Ponzi, it's outright theft. The took the customer's assets, sold them, and replaced with with ftt tokens, without the customers knowledge or consent, then took the money made from the sale, and spent it.
Exactly and my scheme is nothing like a pyramid scheme, is more of a triangle.
@@MultiChrisjb😂😂
See hedge funds.
He probably finished the book right as Sam was getting caught up in all of this mess and said to himself, "There's no way in hell I'm rewriting all of this shit."
Haha best comment 😂
This^^ 🤣
Definitely
He probably was paid by the same person too.
Was thinking exactly the same thing. 🤣🤣🤣
"If people never wanted their money back, it wouldn't have been a problem" Financial genius
Yeah, if I run a ponzi scheme and no one ever demands their money back, then I too can keep making profits forever.
Yer, it's only a problem when the jig is up.
He's not wrong, and that statement isn't as stupid as you think. It's the same principle that every bank and brokerage relies upon.
@@CookieFACE417It's definitely true. Though noone even makes an investment unless they want returns or to avoid tax or launder money.
@@CookieFACE417 I mean it is stupid because while banks don't necessarily always have the money on hand they do have the money and are able to return all of your money, it only becomes a problem during a bank run but that's not just simply people wanting to withdraw their money.
The fact he said the book is to influence the jury says it all
Aren’t they supposed to be on media blackout? Either I’m confused about how juries work or he is.
I think the assumption here is that his book started as a letter to be read before the court, and he just couldn't keep it brief?@@tethergobrrr
@@tethergobrrr you are correct, the jury is meant to be on media blackout and know as little about the people on trial as possible, so reading the book would get them removed as soon as it found out they read it and telling them to read the book could be ruled as attempted jury tampering.
@@NeonDripKitty Thanks. My legal education comes mostly from movies, but I thought that was how it worked. Michael Lewis caught the crypto brainworms - rules? what rules?
And it... didn't work.
If the smart and wealthy admitted Sam was a criminal they’d be admitting their stupidity and lack of due diligence period.
That or collusion? I tend to believe successful people don't just turn dumb all of sudden irl, just pretend when it suits them
And they don't care if you steal from the peasants, just don't steal from us.
The fact that there are literally people still defending SBF is just too unbelievable to me that some are still trusting that man
Cognitive dissonance is strong
The money was real, and it was spread really well...
You said trusting but I think you meant “being paid by”
Coffeezilla got him to confess in a youtube video that is still online.
If I were a prosecutor, I'd show it to the jury.
lf he gets away with a slap on the wrist the people who defended him have a payday.
This is not a letter to the jury. It’s a book plug at the time of the trial
Yea seems about right.
Yeah, I heard the "letter to the jury" bit and thought it was just an author trying to make a quick buck.
Oh I think that book and its author are a different kind of plug.
If it is a letter then it's jury tampering
That's a bingo
SBF _literally_ described a Ponzi scheme, in describing the FTX business model, during one of his interviews.
Technically, he was describing crypto yield farming, which wasn't FTX's business model.
If you'r going to post then at least know what you're talking about.
This raises major questions about the stories of Moneyball and The Big Short too. Also someone needs to call the fashion police about Lewis' shirt/jacket combo.
Many bestsellers, specially those talking about the financial world, are full of shit. Many people fake knowledge on finance because it is such a big market, where people are interested but ignorant, and also heavily prone to wishful thinking and confirmation bias, because everybody wants to get rich.
It's really great to hear Lewis come out and openly tell people not to buy his books or take him seriously ever again.
🤣🤣🙌🙌👍👍
A lot of his previous works were pretty much fiction
@@franslisztbut they were entertaining
yes behaviour on the Michael Oden story was completely unethical, his comments after were disgusting
If the business was so fragile that a few tweets were able to bring it down then it wasnt a great business.
They were the meanest tweets ever!
Exactly! Especially when your “business” is so fragile that after the run, it didn’t even have enough liquidity to last one freakin WEEK!
It wasn’t a great business obviously. But the tweets didn’t bring it down on their own as much as they sped up a downfall that was going to come sooner or later. It was more so an expose of the farce of value that so many argue exists in a lot of tokens because the minute it was exposed that the balance sheet of the company was almost solely in token the value people felt that token had vanished in their minds where they immediately made a run on the exchange. The company was diverting way too much money to not have fallen eventually but had people chosen not to run the token it would have lasted longer than it actually did because the token that it based its assets on wouldn’t have plummeted. But again it’s important to remember that the run wasn’t the cause of the fall but rather expedited rhe fall that would’ve come sooner or later with how they were operating.
@@jack90054I mean the run is what causes the liquidity crisis.
@@simasgraliauskas6986except it is public record, every transaction. how often are these wallets leaked.
Not only Ponzi schemes are illegal. It was not a Ponzi scheme but he took clients money with out consent or knowledge, including other things he did. Which was illegal.
Yeah I don’t think any of the many charges were ‘doing a Ponzi’.
But the whole cryptocurrency bubble was a kind of Ponzi scheme. Early entrants made megabucks, the majority who were late lost almost everything. Easy Money talks about this.
yeah. The business was legitimately profitable. SBF could have borrowed the money to fund his crypto-hedge fund legitimately, which confused FTX executives bc they had no idea SBF was using FTX to fund his crypto-hedge fund. Alameda could have gone under and FTX would have survived and been fine, but he fucked it all up just to avoid interest rates on the loans.
there was no ponzi, SBF and others were just siphoning off money to Alameda
which i believe falls under both embezzlement and money laundering (still VERY illegal), but not ponzi schemes
He used customer money to pay customers profits as well.
That was the whole allure of putting your money into ftx or alameda.
Most ponzis have some sort of a sham business or investing angle thats supposed to be making the returns.
Holy cow 3.15M subscribers? It is crazy rediscovering a UA-camr to find their channel has gotten literally 100 times bigger than when you first saw them. I’m just sad the laughing babas won’t come back but keep doing your thing man!
Can't believe people still believe you can just "accidentally" misplace 8 billion dollars.
I believe in facts. And the fact is SBF is innocent until proven otherwise. Anything else is just opinions
@@larrycapija8980where have you been? Have you not watched any of the coverage in this channel?
@@rajamrifqi5764 I have not. Algorithm brought me here since I watched first the 60min interview. Why I would trust more in a influencer than version given by the writer?
@@larrycapija8980it would be a good idea to go and watch some of the coffeezilla back catalogue 😊
@@larrycapija8980being critical is good and all but there is pretty hard evidence that SBF isn't really innocent and the facts point to that
I’ve reached my limit with journalists, reporters, authors and politicians just blatantly lying with no remorse.
and almost all of them are in the US
whoa there cool it with the anti-semitism
Gradually people begin to hate them...
And what are you going to do about it? What cán you do about it?
Everyone gets paid by the people they interview these days so they can say what ever makes em look better rather then get asked the tough questions the only reporters i trust are ether youtubers or tyt who is trying to do the opposite of what professional reporters do when paid by the people they interviewed.
I feel vindicated after all the times I said "Moneyball" misses a lot of important details because Lewis didn't know enough to write about baseball. Guy is a good storyteller and salesman.
He literally labelled his ethical violations and LEGAL VIOLATIONS - AS SUCH!!
3:06 SBF: I have no soul and everything about me is fake.
Michael Lewis: I trust this man.
michael lewis: with my life, with my soul
yeah he's been completely played and is utterly oblivious to this fact. I have 2nd hand embarrassment just listening to him. Cringe.
But he was so honest when he told me he was untrustworthy! What's not to trust??
This just reminds me of parents who blindly disbelieve the terrible behavior of their children even when confronted with overwhelming evidence
Like the mom of that prankster youtuber who got shot by his victim.
At least I can comprehend a parent refusing to believe the worst, right or wrong. this is a grown ass man defending another, unrelated, grown ass man(child)
almost as if the parents have a “blind side” to their children…
…get it?
(Michael Lewis wrote the book _The Blind Side_ - just in case you didn’t get the joke haha)
Easy to do when your children buy you multi-million dollar real estate
@@terubokmasin3247Spare the rod, spoil the child.
Thanks. I saw an interview with this guy on 60 Minutes, and it was ridiculous. He fawned all over Sam. He acted as if the effective altruism were true when the fact is Sam bought the yacht.
I wonder how Michael Lewis feels today?
If Bankman walks, they should just codify and make two-tier justice system into law. Then there should be no unreasonable expectations.
He very likely won't walk. Very high chance he's getting serious jail time.
@@tunnelsloth5948 REcently it's coming out that the old man was key in keeping this thing going, and setting it up to benefit the insiders. I''m going to LOVE to see this side of the scan unfold, as it MAKES SENSE compared to the first story of a fat kid with few friends playing vid games getting financial people on board. DAD pushing the agenda fits a lot better: LAW, STanford, all the boxes ticked.
@@tunnelsloth5948At a white collar, minimum security RESORT maybe. Which is another part of the problem OP is referring to.
He stole rich people's money. He's dead.
He's jooish, I doubt he takes a big hit on all this. Would love to be wrong though.
The book is actually Michael Lewis’s first fantasy novel
Well done 🎉
Nah the blindside was the first.
😂😂
Definitely not the first.
yo i love how the interviewer was so obviously "wtf?!" after everything michal lewis said
you did great with this one, keep doing it!
I just wanted to take a moment to say how amazing your video was! I was really impressed with the quality of the footage, the editing, and the overall presentation. You did a great job of explaining the topic in a clear and concise way, and I learned a lot from watching your video.
Yes, the author is correct about one thing. There is indeed a SBF shaped hole in the world that needs to be filled. Filled with the missing dollars that were mis-appropriated from the FTX companies.
SBF showed us who can fill that hole. Each and every person that received stolen money from him directly or indirectly. And we don't have to fill it with dollars, we can fill it with criminals being punished.
I was thinking ML needs to find Jesus. No other way to fill that hole in the world
@@TyPhenirW0LF Everyone thought he said *Effective* altruism when he really was saying *Affective* altruism.
😆
Your wish is granted. The investments he made with customer money are now able to provide everyone with their lost funds.
That hole is a jail cell. And it should be filled with SBF himself.
"Just a few specluators in the Bahamas lost their money" is the most disgusting thing to say when everyone knows many people lost their lives by self deleting when they woke up one day and realized they had lost everything.
Pure gaslighting
All those who invested in FTX are basically speculators and I'm so glad they've lost their money.
"Self deleting" oh my god. It's suicide, straight up. Can we stop baby-fying serious terms when there's no need to?
@@Drunken_MasterShlt tier bait.
@@Drunken_Master lol so obvious
In hindsight Michael Lewis has done this before. The wolf of wall street and blind side also idolized scams.
@@regisdixit Which didn't idolize "scams"; it focused on people who understood what was coming and quite legally made money out of it. Nor was the the financial crisis was not based on "scams". It was the result of a complex set of events and contributing factors.
I fucking love the aesthetic this channel has. 3d background but looks very convincing with the irl lights. Bravo
SBF essentially calls himself a sociopath and Michael proceeds to ignore it like it’s just some small character flaw and not the reason he committed multi-billion dollar fraud
Right! He told you that he’s a sociopath with his own words. It’s willful ignorance. Gotta be money right? Nothing else makes sense.
@@tiffanyh1274 i assume that’s why he was following him in the first place, he probably got one of those payments like Brady and Steph
“The best books... are those that tell you what you know already.”
- George Orwell, 1984
@@Marklarn_ I think so. The only other person who was praising him in the media after the fall was that shark tank guy. Remember? He made 15 million as a spokesman. It’s always money with these guys. It must be right? It’s not generosity of spirit 🤣
Sociopathy puts the effective in altruism 😅 Just ask all of the celebrities whose pockets were lined!
"The stuff he was telling me ... was incredible"
well if we interpret that very literally as in-credible = not credible, I guess he got an accidental bullseye
💥
Indeed if we interpret in-credible as uncredible.
Nice👍
Coffeezilla: "Alright..", sighs, ".. you can be my.. sidekick!"
Bartender-droid: "Wahoo!"
The bartender-droid no longer appears in recent videos 😆
The Noble Fraud Prize
Thing about SBF, and cons in general, is people who get taken in by them can’t bear imagining they could have been fooled so easily.
This comment won the internet today.m
It’s easier to fool someone than it is to convince them they’ve been fooled. Mark Twain
The human ego can’t accept they’re a sucker and they dig themselves a deeper hole.
A story we see all too often on this channel.
This has so much in common with how religious people operate with respect to their religion.
Just remember that's it's vastly harder to admit you were duped than being duped in the first place...
I want to point out this video probably has the best editing I’ve seen on your channel to the point where I almost feel gaslit by the green screen backgrounds👏👏👏 great job I hope your editor was paid well
Crazy... when I first started watching coffee, he had little over 200k subs. Now my dude has well over 3 mil. Congrats Coffee, you the man! My parents love your channel too lmao
I get that he wasn't being literal, but "a letter to the jury" during an ongoing trial is pretty damn illegal.
In the UK it is - it's classed as contempt of court "statutory contempt of court under the Contempt of Court Act 1981, which criminalises the publication of material which creates a substantial risk that the course of justice in the relevant proceedings would be seriously impeded or prejudiced;" - I'm sure there's an equivalent in the US.
@@rpcheesmanI believe it is exactly the same thing under the same name, but I may be wrong.
Anybody could do that. You could write one. I could too. Doesn't mean they're going to read it. Calling it that is just how he's trying to sell copies.
@@elbruces is that an amicus curae (or however it’s spelled) that you’re referring to? Yeah, always thought those were fine
Aren't jury's told explicitly by the judge to stay away from and disregard ALL media and biases during a trial (including friends, family etc) and only look at the facts delivered in court?
I was recently on a jury here in NZ and that was most definitely the case
Michael Lewis really did damage to his reputation with that 60 Minutes interview. I'd bet most of the book was already written (either on paper or in his brain) by the time the scandal broke and he just didn't want to re-write it. His previous books were written after the fact, not duirng the story. He couldn't adapt to the changing situation. Publishing the book to coincide with the start of the trial probably also didn't help.
Bro really went "I'm allergic to facts" or "If you pay me enough I'll say anything". Not sure which is more disappointing.
Saying he intended to tamper with the jury wasn’t great.
Yes, and also his publisher was probably like "perfect timing to publish this book about SBF and FTX, just get it out the door, doesn't matter what it says, it will be goldmine either way!" So ML didn't take the time to rewrite it, and now is stuck trying to justify it.
As some pointed out to me in every other Lewis book the System is the problem and the characters in the book are all heroes in some way. He just can’t write bad guys. It’s not his formula. Issa son is the same with his Musk book.
Yes don't let facts get in the way of perfectly good propaganda.
"The reasons I have such a compelling story is that I started writing this book and now I have to continue it but the premise has changed and that probably means I've wasted my time and I'm not ready to admit that so I'm asking you, no, I'm telling you...buy my book"
I'm not a smart man but SBF comes across as weird, shady, and creepy. I wouldn't want him running a fast food truck let alone my investment money.
What I'm taking away from this is that these "geniuses" we put on pedestals are actually very stupid or they're so malicious they're willing to put their self-interest at the expense of millions.
Inb4 Elon Musk somehow makes Twitter even worse
they just need to be smarter then their customer base
It isnt only a choice between genius/stupid or malicious, you’re missing the human part. Humans are infinitely good at tricking themselves, especially when they have decades of crazy success and sycophantic people around them telling them nothing they do can possibly be wrong. It may seem like self interest, but, it’s really a self delusion, imho :)
Both
Just think about some of the figures he threw out to get celebrities to spend time with him, he wasn't even living in the same world as the rest of us by the end of it. Malice doesn't come into it, you can't hate something that doesn't even exist in your mind.
I’m genuinely stunned. When I read the Big Short, I was amazed and glad someone could explain complex financial fraud so clearly. To see Lewis doing this now is disappointing to say the least.
Yeah wtf happened to Michael Lewis this is shocking to me
To play devil's advocate: the best people to clearly and concisely explain the con is a conman who's running it.
Don't quite a few ex-conmen make money out of publishing books specifically about how they ran their old frauds, when they actually try to go legit and start working in fraud protection instead?
(I'm not knocking ex-criminals turning their skills lightside or saying this author's a fraudster, mind, just poking at your expectation that being good at breaking down a crime prevents someone from having very bad takes or makes someone's moral compass functional and fair.)
@@k-isfor-kristina💴💵💶 simple as.
Why do all of you people seem to have so much faith in an author or journalist? Like I'm not trying 5o be am ass, but as a pessimistic asshole who assumes the worst in people, it's hard not to assume people deserve to loose their money when they seem so faithful and trusting of someone at face value on their word.
I mean he has always given his perspective from one side. In the big short, he only ever talked about it from the perspective of the shorts. Of course the banks marked the credit default swaps lower, since everyone believed the mortgages were fine. In flash boys, he always talked about it from the perspective of institutions who fell victim to hfts, and not from the perspective of the hfts, who are doing nothing more than finding an exploit in modern finance.
please keep this up, every time i stumble across one of micheal lewis interviews i rewatch this to clear my head of all the brainwashing.
"He does other things lawyer's wouldn't know to deal with."
Sam's description of Michael Lewis sounds like the same description Walter White would give Saul Goodman
He doesn't need a criminal lawyer. He needs a Criminal lawyer.
Better call Saul!
😍
Bruce rivers.
Took the words right out of my mouth.
@@EGL-P"Who did this to me? Why can I sue?"
I WAS a huge fan of Michael Lewis - read most of his books. I'm personally sad he is actually standing behind SBF and singing his praises. Live and learn.
He's got a long history of lies. Blind Side was built off of a lie that Oher was adopted, when he was placed under a conservatorship and the white family that adopted him stole all his money.
I think that you can like someone's old work and not their new work. Definitely unfortunate to see him siding with SBF in such a public way, though. It's pretty unbelievable
@@scottnon9779But I did just learn he wrote The Blind Side and that didn't age well either :/
You need rethink the credit of his other books.
Have you read the book? Because I think Coffee is way off base with his take that the book is just a defense of SBF.
He spent million dollars to people that do nothing, with stolen money from hard working people…. He’s a hero. A real life Robin Hood. He takes from the poor
At the end of the day, it’s about stealing peoples money. Whether it’s a traditional Ponzi or just plain robbery hardly matters
In fairness to Michael Lewis, telling a contrarian story, no matter how ludicrous, is a good way to sell books
That’s exactly what he’s doing
Thank goodness CZ saved me from wasting that money.
Good way to destroy your credibility, anyway. I have read several of his books. Can't see reading another one of his.
In fairness to SBF, running a Ponzi scheme is a good way to make a lot of money
This will 100% be his last book, he does not care@@bubba99009
"rags to riches" made me chuckle, cause isnt sam basically a trust fund kid who started with millions already?
Yep daddy’s wallet kid
He started as a CIA Asset.
I started with a small loan of 1million dollars
Rags to riches while being born in a extremely privileged family. Lmao
Aside from the illegal aspects of the business this was completely legal.
How can you publicly say your book is "a letter to the jury"? He's practically admitting jury tampering, ridiculous.
He has freedom of speech to say wtf he wants in his book. Nobody else has authority outside what HE says in HIS book. That's why.
@@theultimatereductionist7592 I think you'll find the justice system has authority if they consider that someone is tampering with the jury.
@@theultimatereductionist7592you're the kind of person to share your social security number in the name of freedom of speech
That's not tampering so no. He could say he's taking a walk to the moon, it doesn't make it true. What is up with people today wanting to throw innocent people into prison just because they don't like them. You're sick... Get help all of you... @@markgriffiths9377
Amazing how easily money and political power buys media outlets
you haven't even watched the video yet lol... it came out a minute ago
who said@@spider1292
That’s Capitalism at work, my friend.
It could buy me too.
60 minutes is actually pretty fair journalism
Michael Lewis should be required to testify or added to the docket due to giving Sam legal advise. Also this book should be considered jury/ witness tampering.
Well done. This informs the public on how social media influences people and allows celebrities and others to steal from their fans
This aged well
He is right about it not being a Ponzi scheme though, to be a legit Ponzi you need to pay or refund someone with stolen money, Sam kept it all.
To add. They had an actual business model. Ponzi schemes don't have that. This is fraud, money laundering, misplacement of funds, and theft. The run on the bank + drop in price in crypto is what exposed it
People lazily call any type of fraud a Ponzi scheme. It’s counterproductive because it casts doubt upon everything else you say. Don’t exaggerate when the truth is sufficiently appalling.
Not all fraud is a ponzi. I agree, I don't think FTX really fit the definition of a ponzi but people just compared it to Bernie M because it was another example of mega fraud.
*pay or refund someone with stolen money,* he did exactly fucking that propping up the tokens value.
he didn't just try bribing politicians etc with the money, he also used money, possibly majority of it, propping the value up. he was supposed to be using profits to prop it up.
@@lasskinn474u missed the joke man🤷🏼♂️
I’m reading Lewis’s book right now. He is so blind to SBF’s lies and views him as a misunderstood wunderkind. SBF is actually just a liar, and Lewis is easily lied-to.
He’s not blind, it’s deliberate
And he has the right politics.@@Fireclaws10
You might say he has a ... Blind Side.
You better return that book
Somebody replaced Michael Lewis’ brain after he wrote Moneyball…he’s developed a Blind Side since then
All respect to you! The way you argue is absolutely great!
I’m so glad Coffee is protecting your average citizen. That’s who big players don’t look at-they don’t care. Sure they messed up by investing in the first place but if wanting a better future is a crime we’d all be in jail.
People like SBF or any of these scammers need to be put on blast so the public can be educated on how if it sounds too good to be true, it probably is.
The thing is, a lot of people just aren't aware enough of stuff like this. They _don't_ think it sounds too good to be true.
Coffee. We love you man. Stay on this please. The corrupt media and political class want this to go away as they are all corrupt. SBF should rot in jail until his final breath.
i mean, he stole from too many rich people to possibly get away from it.
The dude who wrote some of the best books I have ever read, has lost all credibility.
Its upsetting; I love the Big Short and Moneyball, and now I feel like I would recontextualize things if I read them again.
Like how do you write the Big Short, and then ten years later write basically the same book but this time you side with the villains.
Lewis is Jewish, Sam is Jewish, no connection or ingroup preferences. Don't look hard at it goys
I get what you’re saying @tayhadar1; even so I believe that nobody can stay intellectually pure on a long enough timeline.
If you like his old work and it’s valuable to you, it still can be! Even if it feels like a big tu quoque fallacy now. ❤️
@@jameskierans4245
I prefer to think his flaws have just become worse and now overwhelm the writing-remember how he kinda made Billy Beane a cartoon character but it still worked because of the bigger story? This is just that particular flaw but the entire book
Shit, the author started to play the role of one of his own characters; So meta
You need a bigger platform I hope your channel keeps growing this is awesome stuff
Who would have thought that a guy who admitted he has no soul would turn out to be a con artist?
I like how Lewis always refers to SBF when he's talking about the book as a "character" (not a real person)
That’s an inherent flaw with his writing that seems to have gotten worse over the years
How can you tell people that you run a Ponzi scheme yourself without telling people you are running a Ponzi scheme yourself? THIS, THIS IS HOW.
Technically, it's not a Ponzi scheme. Coffeezilla likes to exaggerate to milk views.
I like the part where Michael Lewis says "this isn't a ponzi scheme, THIS is what they were doing" then basically goes on to exactly describe a ponzi scheme 😂
@@dzelpwr I wouldn't call SBF's crime a Ponzi scheme either - it's more like embezzling money and gambling it at the casino thinking that you'll pay it back when you win. It's a different type of fraud than merely paying off your last investor with the buy-in from the next investor.
@alexholker1309 Yeah I mean his crime was embezzlement... He just did it from a ponzi scheme... If he had just not used microsoft excel And didn't accidentally embezzle the money... And then subsequently lose it so he couldn't launder it back... And then of course we have to assume he Did it on purpose trying to make some side money? And it was just gonna give back the principal once his genius. Money making skills paid off even more... If none of that happened it would just be a normal happy go lucky ponzi
Lewis just jumped the shark defending a known criminal
Always great work coffee. Love your videos
Writing a letter to the jury before a judgement should be criminal.
influencing a jury usually is...
It is.
@@remcovanvliet3018No it isn't lol
Yeah what poor phrasing on his part (and that’s a charitable assessment).
@@emmily6254 Examples of jury tampering may include providing outside information to a juror and bribing, threating or intimidating a juror to influence the verdict. Both lawyers and jurors themselves can be involved in jury tampering. Jury tampering is not only an ethical infraction, but a criminal offense. The standard admonitions given to jurors are found in G.S. 15A-1236(a), and they instruct the jurors: (i) not to talk to among themselves about the case prior to deliberations, (ii) not to talk to anyone else about the case; (iii) not to form an opinion as to guilt or innocence prior to deliberations; (iv) to avoid reading, watching or hearing any accounts of the trial; and (v) not to talk to any of the parties, witnesses, or attorneys. The judge may also admonish the juror as to any other matters he or she considers appropriate to the case.
You're on this magical thing called the internet, where all sorts of information is at your fingertips... And instead of doing a THIRTY SECOND GOOGLE SEARCH, you just decided to speak out of your ass?
It's also amazing how everybody, including his parents, treat SBF like he's some baby lost in the woods. The dude is 31!!
Now we know where people's money went. To buy people like this guy to try to help get them off the hook. Good luck.
he destroyed his reputation with this
I heard this 60 minutes interview in the background when it aired and I kept thinking to myself, "when are they going to mention the fraud?"
Shoutout to Tiffany Fong putting in the work out here
...she is cute af too.... 😉
Love the lighting of your scenes. Light temperature, direction, intensity - like your coffee shots: enlightening. Thx.
I always get excited when i see a new coffeezilla video up, and yonnever disappoint! Cant wait to see the next video
I mean is it possible SBF paid this guy an exorbitant amount of money to be his public hype man. There’s no way they found all of his assets. Dude is still swimming in stolen $. I still can’t get over the fact that SBF and Caroline had control of that much $. It’s mind numbing.
As she was tweeting “Nothing like regular amphetamine use to make you appreciate how dumb a lot of normal, non-medicated human experience is,”. Can you imagine 😂 It is mind numbing, you’re right.
Honestly I have a hard time thinking of any other reason why Lewis would defend the man.
Yer, he probably came over to the dark side.
SBF is a philanthropist
Just trying to help mankind
@@gregorysagegreene 😂 🤣😂
“This isn’t a Ponzi scheme” Bro CZ’s face immediately was straight comedy.
“This isn’t a Ponzi scheme”
It just requires ever more money from new investors to pay off existing ones.
Actually he may be right. They didn't pay off the existing investors.
It's not a Ponzi scheme. It's absolutely fraud, probably embezzlement. But not all frauds are ponzi schemes.
He's like the guy that would justify taking a child's money and giving him magic beans..
Come on, that's an unjust characterization. Magic beans are way more valuable than crypto
The magic beans actually did work. They literally grew a bean stalk, and the boy ended up getting a golden-egg laying goose out of it.
@kwanarchive You see all these wealthy people in super yatchs? That's the Golden Egg. Dubai Trips, a lot of rugpulling wealth went over there.. Golden EGG central.
@@dorothywinn9979They're the giant living at the top of the beanstalk. If I remember correctly, the giant stole all that stuff to begin with.
It completely went over my head that the beginning clip was satire until the end of the video when I was wondering where was your interview with Michael Lewis ? Had to rewind to the beginning and then saw the 60 minutes in the corner. 😂
“Dan would take care of things that other lawyers wouldn’t” he literally just made it sound like he hired Saul Goodman
Dan freidberg even looks like saul goodman
"He's really misunderstood"
Yeah that might have something to do with the fact he lies a lot AND HE TOLD YOU THAT.
More people saw this video than the 60 minutes interview. Thank you.
This guy is defending the dream, not the person. It's a dream, kind of like a superhero fantasy except people think that it's something that can really exist. Money is a superpower and wouldn't it be great to not be powerless?
But you can't amass that much wealth and be a good guy. It just doesn't happen.
There are no ethical billionaires.
If you ever meet someone that tries to convince you that they alone know the truth, slowly back away while while nodding, agreeing and importantly maintaining eye contact until you can finally gtfo.
Knowing what I now know about Michael Lewis as the author of "The Blind Side", I think he gets carried away by narratives more than facts
That'd make sense, because he's a writer, not a researcher in the scientific sense of the word.
In that case too Lewis was close to the protagonists, so it's kind of Stockholm syndrome. You have to get close to the people you write about, but if you get too close, you lose your journalistic distance and become a starry-eyed fanboy. Sad. Lewis is still a great writer ..... of fiction.
Yeah, that one didn’t age well either.
@@BassForever44 who claims to be exposing the "truth"
This isn't a ponzi scheme... As the jury finds Sam guilty on all counts lol.
🥳
I love the look of abject disgust and fear on the 60 minutes reporters face.
this is horrifying to watch, genuinely. I was such a big fan of Michal Lewis prior books. The money culture and Liars poker were great and honest social critiques of the finance sector, The big short, the promonition and Flash boys were absolutely GREAT descriptions of some of the biggest scandals in recent history. At no point they felt particularly biased or subjective, this is unbelievably embarrassing to say the very least.
What if he was actually hiding behind an insane story real intentionally criminal actors.?
Very disappointed in Michael Lewis. I was looking forward to this book as I assumed it was a great opportunity that he had direct access to SBF and would do a detailed report of what happened. Instead it’s a huge puff piece. So depressing.
He is a tool in the whole scam. And that scam goes so deep. He’s gonna walk free.
You have to understand that SBF has paid off a number of people to portray him and FTX in a positive way. It's now clear that Michael Lewis is one of those people.
Were you not blindsided by the Blindside
I doubt a single person defending this man isn’t outright malicious.
Did you watch the full interview? He is right and Coffeezilla likes to milk everything here.
@@pomp4401braindead take. 🤡
@@pomp4401 How is the interviewee right?
@@pomp4401be careful. these people are going to accuse you of witch 🧙♀️ craft.
@@pomp4401Jesus the cryptobros are out in full force here, please seek Canadian healthcare.
This is going to have me reconsider what Michael Lewis has written in the past, it's such a shame too because I always liked his writing style.
I DIDN'T FIND THE FIRST 30 EPIC SECONDS OF THIS VIDEO ON SHORTS,WHAT GREAT QUESTION YOU ASKED HIM!!🤣😂🤣😂