I know you aren't trying to be a comedy channel. I'm just blown away at the large assortment of obviously ludicrous red flags so many institutional investors and high street firms missed or ignored.
I know you’re an educational/news channel. I don’t think people are being truthful about your video being a comedy. It could be done as a form of damage control for FTX and SBF where people would discuss your video
Let's buy some bananas and share them with the Monkeys. Sequoia are a bunch of either Bananas or Monkeys. Great work Patrick! Getting better all the time. 😅
I spoke to an insider at Sequoia and one of the ways they are tightening internal controls is to require all future portfolio companies to be headed by at least one executive with Diamond or higher rank in League of Legends.
I don't know how Kevin o Leary still has money left with his recent investment picks, it wasn't no more then 9 months ago he was on CNBC stating his bullish case for Facebook after it took its major drop from bad earnings and he said he was buying up the dip and since then Facebook has steadily declined.
Meanwhile SBF is imprisoned now and for most of his adult life and the financial "idiots" brushed themselves off, moved on, and still enjoying their privileged lives.
@@factorfitness3713Buffett has repeatedly said he doesn’t invest in companies he doesn’t understand. That’s one thing that annoys me about the crypto community, they’ll mock people for not investing because they don’t understand the tech, but _that’s the correct response._ Sure, learn more if you’re on the fence, but there’s plenty of time for that. If someone had invested in Microsoft in 2015, _twenty years_ after Windows became a household name, they’d be up 500% or more.
Patrick: "I'm not funny, this stuff is not funny" Also Patrick: "It wasn't just sophisticated who put their money in either, Kevin O'Leary invested too." Wonderful
In defining the market cap "It's not just people either, monkeys like bananas" I might have to get a t-shirt with that one. I started watching this channel to escape sensationalism, but humor is appropriate here because FTX is itself a joke.
Patrick is truly one of the best presenters on UA-cam. Not dumbed down but understandable content, clear presentation, and still injects humor to keep you engaged. Can’t believe I didn’t find this channel sooner
It's been a rough week at work but this made me burst out in seriousness. This was the most serious entertainment I had in a while, just gold. If Patrick started an FTX-like scam, I might go broke.
I am absolutely taken aback by the fact that "throw mountains of cash at literally every project that comes your way" is somehow a viable business model for these firms.
Those VC firms come across as stupid but they are not. 🤣 Throwing other people’s money at projects is how they make money. Some VC firms charge their clients up to 10% a year for investing their money. How much is 10% of a billion a year?
Not just VCs, look at Google. How many monumental and nonsensical failures has this company had? The only successes that they have were purchased from independent companies like UA-cam and Android.
Speaking as a Singaporean, I am truly appalled that Temasek seemed not to have done any due diligence on this steaming pile of sh*t ! And Temasek are supposed to be staffed by the keenest and most brilliant financial minds in our country. God help us all.
Imagine you're a low level analyst doing diligence on temasek and your higher up unsubtly tells you to stow it, we're going long no matter what your diligence says.
“This is a serious video. And if you don’t think so, you just don’t understand how things work in Silicon Valley and that is your fault not mine” Patrick you are a gem!! 😂
Patrick's dressed like he's attending a funeral - not sure if its for institutional investors or comedy on his channel. Nonetheless, thank you Patrick for taking this all seriously and explaining things in terms of bananas so we could better understand the situation.👍
You really could learn a thing or two from mr. Boyle. Naming your finance-related channel "The Plain Bagel" and having a plain bagel as your profile picture is very unprofessional. Flippant, even. It shows disrespect to the viewers. When I first came across your channel I was very disappointed indeed that it contained no breakfast-related content whatsoever.
Your free financial education and reporting is wonderful and much appreciated. I love your dry humor. None of it makes me take you less seriously. Thank you for your good work.
Patrick, not only do you explain it simply, you also illustrate how absurd all of this is, and you do it in a entertaining way to boot. keep being awesome!
Listening to SBF speak, it's a wonder anyone invested in his business. He's such an unlikable character, he talks for hours using analogies and doesn't say anything of substance and if someone puts a serious question to him he calls them an idiot in a diplomatic way. It's so bad
I'm not sure if i should be more personally insulted or take it as a badge of honor that Sequoia and Lightspeed declined to invest in my humble startup.
"In Silicon Valley, online crypto currency trading and banana procurement are the kind of problems that still need to be solved." Patrick hitting it out of the park yet again.
Patrick, I have just started listening to your videos literally 3 days ago. I respect your content and intent and treat them seriously. What I like about your videos is that your method of delivery and dry wit ensures the key messages are taken on board in a way that for me guarantees retention. Well done Sir.
In all seriousness, this video was posted within the last two hours and I'm already seeing closed captions in 14 different languages. Is that you Patrick (if so, bravo) or are the subscribers that diverse, loyal, and translating a 17 minute video that quickly?
I’m not sure how anyone who got involved with FTX can seriously say they did any form of due diligence. Sequoia team were impressed SBF spent their entire pitch meeting playing videogames 😂 sounded like an episode of The Office
Imagine yourself as a partner in Sequoia and SBF makes his pitch and you say "No." While the "valuation" goes up the next day. You wont be a partner the next day.
@@xrunner55 always a danger eh? But sometimes you gotta go with your gut. Hard to do with that kinda corporate pressure. Never been there so I don't know that particular kind of pressure.
I am guessing Seqouia and every other investor was counting on SBF's parents and *their* connections, to survive no matter what. None of them realised FTX was such a clusterf@#k that not even good connections could've saved them from a ponzi scheme of this scale.
No, the subject matter is no joke. You explain serious issues and sometimes goings-on that would otherwise make us want to cry. It takes talent to do that while making us chuckle.
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Hey Patrick, visualize this: A super app that auto-generates business cases from an AI fed by past pitches to Softbank from failed business ventures and a dictionary of updated technology buzzwords like 'crypto' and 'blockchain' and then prepares sloppy PowerPoint presentations made to look like they're prepared by college kids. Based on the business case theme, the super app then posts job ads on the most related reddit boards to hire the 'executives' that will then pitch those presentations to VCs. The super app will be funded by a ICO tokens with the promise that the tokens will be bought back at a higher price once the businesses eventually materialize. What could go wrong?
update the mainframes. the use of powerpoints has been discontinued. the new term is "sales documents". this probably applies to excel spreadsheets too.
Patrick, I find the way you talk about these subjects comedic at times and that is a compliment since for a lot of people it gets boring quickly. I started listening to your videos due to the fact that the bits of humor make the information so easy to consume and remember. As somebody for whom english is not their first language the way you present financial stuff makes me really understand it despite a small language barrier.
Patrick, please don't take the comments addressing humour as a conflagration of your intentions. It's simply an appreciation of the crazy situation, the tactful delivery you have, and the relatability of that delivery. We appreciate you! Learning about anything is better done with a smile. Thanks for the wonderful content.
He's feigning seriousness and displeasure with his viewers' supposed immaturity for comedic purposes. Note that he follows his assertions of the seriousness of the situation with even more sarcasm and jokes at the expense of the gullible investors who should've known better. And now the frog is dead.
Didn't you hear him? He's not being funny. This is serious business about serious people who seriously need their bananas. I used to live in Silicon Valley, but I had to move out when I realized there was no app which could provide the banana IV drip all people in the valley require.
FTX is one of those rare events where the bigger the fallout the better for society, because every single person who is negatively affected by it had it coming.
So Sam banked on mom and dad's good name. And the VC's (pronounced "easy targets") used relations as due diligence. Morale of the story: if you get introduced to the right people you can scam them.
🐂💩. He is White and used the resultant privilege to steal and plunder and knew other Whites would protect him. Black don’t get the chances he go and nor would we be as nasty and evil as SBF is.
I've enjoyed and learned so much from you since discovering this channel a short time ago. This is the only video, which puzzles me. So I am viewing it a second time. If you want to avoid being perceived as humorous and witty, then why is the content so humorous and witty? Even while you are asserting there is no joke intended, the visuals, the inflection and the content are a comedic delight. No comparison is perfect, but lemme try this: Years ago I asked a gorgeous lady friend to be my dance partner at a series of dance lessons. "I have no romantic interest in the gal," I told an elderly friend. He called me crazy. "You are plucking the strings, but you don't want to hear the music!" He was proven correct. I humbly submit that this is kind of what we have here. Still, you da' best, Mr. Boyle!
Considering how much money Softbank has been losing and all the shady connections it has, I wonder if Masayoshi Son is worried about being put on the Yakuza or Saudi royal family's hit list.
@@samsonsoturian6013 their losses are close to wiping out their historical gains. They may be an investment bank but a lot of their investors are not very nice people who can make bad things happen to anyone who disappoints them.
Masayoshi Son shouldn't worry about Saudi royal family. It is okay to lose their money. Just don't threaten their power. Because the Saudis can always get more money, but they can't get back their power if they lose it.
I love you Patrick! I came for the financial analysis and stayed for the dry humor. I try to explain your comedy to my wife but she usually gets bored midway through so I think there’s some real info in there. Lol love the content!
My husband watches no UA-cam (I watch a ton) but several times he’s walked through the room while Patrick is on and says “does this guy know he’s funny?” Or “He really hides his jokes.” Yes. Yes he does. To both.
The problem is that they simply have way too much wealth to the point where it’s play money. From what I’ve observed, very few VCs are savvy investors, and simply throw a bunch of money at the wall until something sticks.
I sincerely apologize for making light of this situation in the comments of your last video. Hopefully, no monkeys were severely financially impacted by the collapse of FTX.
I'm putting together a very bad power point right now for a company that will make an app that allows users to trade in Dutch tulip bulbs. Tulips have been down for quite some time and are well overdue for their big comeback. I'm also pretty good at Angry Birds.
Funny that, I was going to re-start the French Mississippi Company and sell Real Estate in the New World, can we combine Tulips with my scam............ magnificent investing opportunity?
Patrick, you explain complex finance issues and topics,in a approachable, relatable and entertaining way, this is the mark of a great communicator( a rare talent) , please keep it up. Well done sir
The real problem with SBF is that his vision was actually too limited. What about people who don’t like bananas, or fruit in general? If he expanded his pitch to include other foods he might not be in his current situation. For example, including carrots would allow him to add rabbits as users of FTX
Hard agree - I personally would've been much more easily duped into it if he had offered up strawberries myself - I'm not a terribly big banana guy, and I credit that to my successful avoidance of FTX.
Mr. Boyle, I'm a finance nerd (and not into bananas) and I do find the technical content of your videos to be absolutely on point and made by a seasoned money manager, but it is also true that your delivery (the Irish accent, the impassibility of the monotone voice AND the Irish humour) also makes for excellent comedy moments. I mean, your very terse comment about monkey JPGs as an asset class made me laugh out loud despite the seriousness of the topic. Keep it going! :)
I can’t tell if your intro was satire or real. Just in case it is real. You’ve got a unique sense of humor that cracks me (and I’m sure many other people up)
I too have respect for the precision and sober reflection of this video, yet I still lost bladder control on several occasions while watching. Does this mean I am suffering from a UTI?
@@samsonsoturian6013 truth “a total addressable market of everyone on the planet” 😂😂😂 the jokes are in the actual docs! FTX is just so funny (so long as you don’t have your OWN money in it… which any sub of Patrick knows better than to do).
You have an interesting style, Patrick and it's obvious you know your stuff. "Due Diligence" means different things to different people but there couldn't have been any serious due diligence when the financial records are so screwed up. It seems certain that greed ruled and SBF knew how to play to that.
Personally, I really like your deadpan delivery especially the "bit of humor" intertwined with the story details otherwise it might be a little boring...not to underestimate the effect these losses will have on real people's lives in any way. My vote is to stay the same and ignore the trolls.
I recently watched a talk with Cathie of ARK , Elon, Dorsey and concluded that sequoia capital is not alone. Watching Cathy was like a bot that would fail a Turing test in five minutes.
I think SBF's issue was the banana part. Eggplant is today's banana. Copy what SBF did, maybe in the Cayman Islands, and tell VCs about crypto eggplants while playing Candy Crush.
Atleast in the Tulip mania after the market collapsed there were nice flowers left. With this is nothing, other than some real estate assets purchased with stolen funds which won't be anywhere near the amount lost.
Im excited every time there's a new video, because I know i'm going to learn something, and also get smashed by a killer deadpan delivery. Another amazing delivery Patrick.
I’ve worked for Bain and spent time in the Private Equity Group. We don’t do management due diligence, that is on the fund. We look to validate market growth rates, competitors analysis, profit pools, etc.
I love this channel for the serious analysis, the no joke presentation style, and the grave tone of delivering the information. Not at all for the laughs.
“Now of course while people do make $8 billion mistakes all the time, it’s likely that we’re instead looking at a huge fraud.” How he says this without bursting out in laughter shows Patrick Boyle is a man with tremendous self-discipline!🤣
Exactly! Patrick is showing so much respect for his audience that he never laughs at his own jokes, he lets the audience to judge the quality of his message.
The simplicity and elegance of your statements is only matched by their devastating honesty!! Some of the best financial info on the internet! Thank you.
You have a natural ability to delivery dry comedy, intentional or not, do not let that talent go to waste. In my opinion, you can be a subject matter expert and deliver knowledge in a fun way at the same time. Funny and knowledgeable are not mutually exclusive.
6:27 - LOL!!!!!!!! Using that pic was genius. I promise that's the only part I laughed at; I do understand that this is a very serious video about a very serious subject, and try to keep my disrespectful giggling down to a minimum.
I actually worked on a due diligence team for an investment OTPP was considering in 2018. I can’t believe FTX passed (considering that they backed out from the way less risky, although still quite risky investment, I was advising on)
I think you have a huge talent in being able to explain to a wide audience how inept and potentially reckless the actions of this outfit were - in an entertaining and ironic way - which can be hilarious. Which is great as we are not all fiscal genus's & as dreadful as the content is, it can be difficult to grasp how so much $$$ can vanish! Most of us can't fathom this amount of money, so if you can get the message out there, which Mainstream Media seems to be ignoring, then this is a very positive result. I just hope these scammers don't get away with ripping off investors in this shameless way. Thank you.
The comedy is why I am here and interested and surprisingly it keeps me focused and engaged enough to learn more from the video. Keep up the good work!
Yah know, I was doing chores, listening to the latest coffeezilla, thinking Patrick has great financial info, and one of the best deadpan, straight deliveries I've ever witnessed. Sure enough, next up on the queue was this mightily serious vid.
Great format. Concise, summarized points and able to tie them all together so we can follow the path and understand the presenation of standards in practice versus what he did. Great !
As a symbol of the worlds most serious and eminent states and republics, their acquisition and issuance is vital. I honestly don't know if there are any current economies that aren't pursuing this status.
My whole extended family moved here to Texas from the Philipeans. They all lost their life savings in FTX. We are glad everyone purchased houses in 2020. They are able to get Heloc and will live off the house from now on.
Relax Patrick. I understand your distress at getting comments from humorists. I was laughing out loud after reading only a few and I still respect the quality and sincerity of your work. Keep doing what you do so well and cheers from Canada.
Your videos are not comedy but with such a silly set of circumstances that fill in the details of this situation....hilarity will arise no matter how serious we try to be sometimes. Thank you for the great information, always
I have to say, I have only recently discovered your channel, and it is fantastic. To be fair, I've only recently pulled my head out enough to be an adult and pay attention to financial situations in the US or to invest in my future. Much appreciated, my friend. Be well and take care.
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brilliant. thanks
I know you aren't trying to be a comedy channel. I'm just blown away at the large assortment of obviously ludicrous red flags so many institutional investors and high street firms missed or ignored.
I know you’re an educational/news channel. I don’t think people are being truthful about your video being a comedy. It could be done as a form of damage control for FTX and SBF where people would discuss your video
here's the real question, where can i get that stonks figurine in the lower right hand corner?
Let's buy some bananas and share them with the Monkeys. Sequoia are a bunch of either Bananas or Monkeys. Great work Patrick! Getting better all the time. 😅
I spoke to an insider at Sequoia and one of the ways they are tightening internal controls is to require all future portfolio companies to be headed by at least one executive with Diamond or higher rank in League of Legends.
Thank God somebody has the balls to introduce the regulation we need.
Possibly a new division as well, dedicated to analyzing the clothes the founder wears and the cars he drives.
Diamond hands, diamond hands...
😂😂😂😂😂
@@mikesoro5052 People underestimate the significance of the length of the founder's shorts.
“It wasn’t just sophisticated investors who put their money in either, Kevin o Leary invested too” 😂
I don't know how Kevin o Leary still has money left with his recent investment picks, it wasn't no more then 9 months ago he was on CNBC stating his bullish case for Facebook after it took its major drop from bad earnings and he said he was buying up the dip and since then Facebook has steadily declined.
how did jim cramer miss out on the tulips?
@@BUSI_88 I bet he has 95% in an index fund and just throws his weight around with the rest
That cracked me up, I knew there was going to be a top comment quoting that lol!
So good 😂😂😂😂
"They somehow got confused that a co-working space with a beer tap was a technology startup."
I'm dead
Just a casual drive by shooting of WeWork in the middle of an SBF video. Brilliant.
The fact that some people can't tell if Patrick is being serious or not is somehow the funniest part 😂
Whatever you call it, i like his style
@@williamhaynes7089 i'd say its a type of dry humor. Seriously humorous....Humorously serious.
He was being serious. Didn't you hear him? No jokes in this video.
@@josephdouglas5242 The monkeys buying bananas with bitcoin? Totally serious.
Just found Patrick today. Still sorting it out.
There is always a strange amount of financial information in Patrick's comedy skits
i`m suspicious he may know something about finance
😆
The comedy writes itself.
@@PhD.NickRiviera EXACTLY!!! LOL
Sam believed, "...everyone in the financial world were idiots." Well, he was right and ultimately proven on that score.
they'll never get back all the money they gave to sam out of greed , that's why he is right that they are idiots
Not everyone. Warren Buffett was still based.
Meanwhile SBF is imprisoned now and for most of his adult life and the financial "idiots" brushed themselves off, moved on, and still enjoying their privileged lives.
@@factorfitness3713Buffett has repeatedly said he doesn’t invest in companies he doesn’t understand. That’s one thing that annoys me about the crypto community, they’ll mock people for not investing because they don’t understand the tech, but _that’s the correct response._
Sure, learn more if you’re on the fence, but there’s plenty of time for that. If someone had invested in Microsoft in 2015, _twenty years_ after Windows became a household name, they’d be up 500% or more.
Thing is he was also in the financial world...
"it wasn't just intelligent investors that invested. Kevin o'leary invested also."
This guy is THE BEST
I had a start face until he dropped this one. it catch me off guard.
He said sophisticated not intelligent so not quite so harsh.
I caught that joke hidden in the many others. Best comedy channel out there!
Patrick: "I'm not funny, this stuff is not funny"
Also Patrick: "It wasn't just sophisticated who put their money in either, Kevin O'Leary invested too."
Wonderful
It's not funny, it's true. Kevin O'Leary is not even sophisticated enough to put on pants.
Fuck you.
That was better than it had any right to be.
In defining the market cap "It's not just people either, monkeys like bananas" I might have to get a t-shirt with that one.
I started watching this channel to escape sensationalism, but humor is appropriate here because FTX is itself a joke.
If it wasn't for the "smart" executives at Mattel, we wouldn't have to put up with Kevin.
The executives at Mattel would have invested in FTX too.
..... and no "pass the banana" references.
got it.
Patrick is truly one of the best presenters on UA-cam. Not dumbed down but understandable content, clear presentation, and still injects humor to keep you engaged. Can’t believe I didn’t find this channel sooner
also his beard is nice
It’s not funny
@@colemantrebor1610 ...to you
That opening two minutes was like the Financial UA-camr version of the Monthy Python "Biggus Dickus" scene.
@@colemantrebor1610 Deadpan humor is not for everyone. I, for one, am here for it
It's been a rough week at work but this made me burst out in seriousness. This was the most serious entertainment I had in a while, just gold. If Patrick started an FTX-like scam, I might go broke.
He used to be a hedgefund manager, so if you had enough, you probably could've lost plenty with him back in the day.
@@buildmotosykletist1987 lol
If only Patrick could get his League of Legends ranking up, then we could actually take anything he says seriously.
seriously
the dryness and peak delivery is unmatched
I am absolutely taken aback by the fact that "throw mountains of cash at literally every project that comes your way" is somehow a viable business model for these firms.
Something something capitalism
Those VC firms come across as stupid but they are not. 🤣 Throwing other people’s money at projects is how they make money. Some VC firms charge their clients up to 10% a year for investing their money. How much is 10% of a billion a year?
It's how Masayoshi made his money from the Dotcom bubble. Everything was a loser for him other than Alibaba.
that's how crypto works during the bullrun
Not just VCs, look at Google. How many monumental and nonsensical failures has this company had? The only successes that they have were purchased from independent companies like UA-cam and Android.
Speaking as a Singaporean, I am truly appalled that Temasek seemed not to have done any due diligence on this steaming pile of sh*t ! And Temasek are supposed to be staffed by the keenest and most brilliant financial minds in our country. God help us all.
Take heart, there's plenty of these "brilliant financial minds" everywhere in the world. Singapore is not alone in its suffering...
Eh, if its any condolence the "keenest and most brilliant financial minds" of everyone else didnt fare any better.
Everybody should move to Sydney and pray to the gods of Anglosphere!! Hahhahahhahaha
Regulators always always never not lose to bullshitters turning wank to cash
Imagine you're a low level analyst doing diligence on temasek and your higher up unsubtly tells you to stow it, we're going long no matter what your diligence says.
“This is a serious video. And if you don’t think so, you just don’t understand how things work in Silicon Valley and that is your fault not mine” Patrick you are a gem!! 😂
Gold statement how true 😆
you dont invest money you cant waste.
@@Wulfcry what is that first emoji
I'm fricken rolling on the floor 🤣
Nice subtle jab at Kevin O'leary. "It wasn't just sophisticated investors who put their money in, Kevin O'leary invested as well."
Patrick's dressed like he's attending a funeral - not sure if its for institutional investors or comedy on his channel. Nonetheless, thank you Patrick for taking this all seriously and explaining things in terms of bananas so we could better understand the situation.👍
You really could learn a thing or two from mr. Boyle. Naming your finance-related channel "The Plain Bagel" and having a plain bagel as your profile picture is very unprofessional. Flippant, even. It shows disrespect to the viewers. When I first came across your channel I was very disappointed indeed that it contained no breakfast-related content whatsoever.
@@zlosliwa_menda could be worse. Dr Grande has a plastic small cactus.
Your free financial education and reporting is wonderful and much appreciated. I love your dry humor. None of it makes me take you less seriously. Thank you for your good work.
Patrick, not only do you explain it simply, you also illustrate how absurd all of this is, and you do it in a entertaining way to boot.
keep being awesome!
Listening to SBF speak, it's a wonder anyone invested in his business. He's such an unlikable character, he talks for hours using analogies and doesn't say anything of substance and if someone puts a serious question to him he calls them an idiot in a diplomatic way. It's so bad
And the dedicated avoidance to any humour in his delivery ensures that I am not distracted and remain focused on the topic.
Entertaining? Your bananas! This is a serious video!
@@BillClinton228 Hindsight is 20/20
@@BillClinton228 yeah, he really seems like a character straight out of Mike Judge's show Silicon Valley.
The finance comedy on this channel is great. love it, always entertaining!
I'm not sure if i should be more personally insulted or take it as a badge of honor that Sequoia and Lightspeed declined to invest in my humble startup.
Yes
Learn from your mistakes! Get a messy hairstyle and play videogames at meetings!
Patrick straight-up roasting us throughout the entire video 🤣
Na, a straight face of a different sarcastic humour.
He's cereal y'all, super cereal!
"In Silicon Valley, online crypto currency trading and banana procurement are the kind of problems that still need to be solved." Patrick hitting it out of the park yet again.
I really loved the first 0:00 - 1:20 being very serious and then Patrick doing the thing we always expect from him xD
Yes, because they smuggle cocain in the banana containers :D
Patrick, I have just started listening to your videos literally 3 days ago. I respect your content and intent and treat them seriously. What I like about your videos is that your method of delivery and dry wit ensures the key messages are taken on board in a way that for me guarantees retention. Well done Sir.
In all seriousness, this video was posted within the last two hours and I'm already seeing closed captions in 14 different languages. Is that you Patrick (if so, bravo) or are the subscribers that diverse, loyal, and translating a 17 minute video that quickly?
I try to get subtitles out right away.
@@PBoyle Being versed in 14 languages is pretty incredible.
@@PBoyle thank you very much for it
@@PBoyle you know 14 languages? Thank you for your show. Very educational. ☺️
Of course he knows 14 languages, he also knows how to make banana cake
I’m not sure how anyone who got involved with FTX can seriously say they did any form of due diligence. Sequoia team were impressed SBF spent their entire pitch meeting playing videogames 😂 sounded like an episode of The Office
Imagine yourself as a partner in Sequoia and SBF makes his pitch and you say "No." While the "valuation" goes up the next day. You wont be a partner the next day.
@@xrunner55 always a danger eh? But sometimes you gotta go with your gut. Hard to do with that kinda corporate pressure. Never been there so I don't know that particular kind of pressure.
Sam Bankman Freid stole everyone's money... and now the Jew is laughing at you...
I am guessing Seqouia and every other investor was counting on SBF's parents and *their* connections, to survive no matter what. None of them realised FTX was such a clusterf@#k that not even good connections could've saved them from a ponzi scheme of this scale.
I'm not sure what attracted people to FTX in the first place? Any stories?
Always excellent. Sometimes with the tongue in cheek or perhaps the truth is just so absurd. Thanks, Dan
Patrick we know you're not a comedy channel, but it often feels that way when the whole financial system's gone bananas!
Patrick can be serious and make us laugh for bit
If you think banana procurement is funny you haven't seen Guatemala
Rotten bananas give you banana bread but rotten financiers simply lose the bread
G'dmn lucky that it wasn't plantains! It could've been worse. Quit G'dmn laughing already!
I think it’s always been a joke, we just now have the means to find out
Patrick you have a gift of humor when explaining finance things. Thats why we laugh and we watch you.
stop snickering. he said no snickering this week.
I agree… He cracks me up without even trying
@@whattowatchrightnow I like banana bread.
humor? bro, this isn't funny, weren't you listening?
repeat. this is NOT FUNNY
lmao
No, the subject matter is no joke. You explain serious issues and sometimes goings-on that would otherwise make us want to cry. It takes talent to do that while making us chuckle.
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Loved the NYMPH plate on the rear of the car 😁
Hey Patrick, visualize this: A super app that auto-generates business cases from an AI fed by past pitches to Softbank from failed business ventures and a dictionary of updated technology buzzwords like 'crypto' and 'blockchain' and then prepares sloppy PowerPoint presentations made to look like they're prepared by college kids. Based on the business case theme, the super app then posts job ads on the most related reddit boards to hire the 'executives' that will then pitch those presentations to VCs. The super app will be funded by a ICO tokens with the promise that the tokens will be bought back at a higher price once the businesses eventually materialize. What could go wrong?
lol dang that's very clever
What could go wrong? You leaking a trillion dollar idea. You were so close to becoming sams neighbour in bahamas
credit suisse wants in
update the mainframes. the use of powerpoints has been discontinued. the new term is "sales documents". this probably applies to excel spreadsheets too.
The Germans want in. They are always excited to invest in anything that looks colorful. Preferably with the pension / public funds they manage.
As a fellow Irishman I am proud of your contribution to youtube and the world at large. Keep up the great work Pat. 👍
might be the funniest irishman on youtube :D
Patrick, I find the way you talk about these subjects comedic at times and that is a compliment since for a lot of people it gets boring quickly. I started listening to your videos due to the fact that the bits of humor make the information so easy to consume and remember.
As somebody for whom english is not their first language the way you present financial stuff makes me really understand it despite a small language barrier.
Can’t wait to hear the extensive due diligence. The institutional experts went through.
Oh sorry, they thought it was Dew diligence, and drawn a Mt. Dew instead.
I love this comment xD RIP the illusion of large finance having their sh*t together... again
When there's so much cash flying around, there's no time for due dilligence
"I love this kid, he plays video games during important meetings with us, he must be real smart, give him all the money"
Tbf he was killing it on League of Legends
the style with which you hand out sizeable amounts of shade in your videos is just amazing. love it!
Patrick, please don't take the comments addressing humour as a conflagration of your intentions. It's simply an appreciation of the crazy situation, the tactful delivery you have, and the relatability of that delivery. We appreciate you! Learning about anything is better done with a smile. Thanks for the wonderful content.
W comment
I think he was making a joke here too. His very dry humor is very hard to differentiate joke from seriousness lol.
wooo~~~~~~~oosh!
Oh bless your heart...
He's feigning seriousness and displeasure with his viewers' supposed immaturity for comedic purposes. Note that he follows his assertions of the seriousness of the situation with even more sarcasm and jokes at the expense of the gullible investors who should've known better.
And now the frog is dead.
Patrick is the funniest financial UA-camr on the platform.
I don’t see it. He never laughs at his own jokes so how am I supposed to know if he is trying to be funny?
@@K1RTBsultry wood elves? Seriously how can you not laugh at that 😂
@@K1RTB he means to be funny. He’s just so straight about it, it makes it even better.
As a German i appreciate . Das ist lustig
Didn't you hear him? He's not being funny. This is serious business about serious people who seriously need their bananas. I used to live in Silicon Valley, but I had to move out when I realized there was no app which could provide the banana IV drip all people in the valley require.
FTX is one of those rare events where the bigger the fallout the better for society, because every single person who is negatively affected by it had it coming.
You would have simultaneously been my favorite professor and the professor whose wit I feared the most. I appreciate your work, Patrick!
@Joey Garza I stand for nothing except integrity. Besides, I don't need someone to like me in order to respect them.
So Sam banked on mom and dad's good name. And the VC's (pronounced "easy targets") used relations as due diligence. Morale of the story: if you get introduced to the right people you can scam them.
It’s the joys of being part of an old boys network. Or: having seven ticks / check marks (see Joris Luyendijk).
i prefer Sam Bankrun-Fraud
Uncle Steve mom was in the board of directors of IBM, Elizbeth dad was a big shot at Enron. The apple doesn't fall far from the tree.
@@DFWFishing 😂
🐂💩. He is White and used the resultant privilege to steal and plunder and knew other Whites would protect him. Black don’t get the chances he go and nor would we be as nasty and evil as SBF is.
I've enjoyed and learned so much from you since discovering this channel a short time ago. This is the only video, which puzzles me. So I am viewing it a second time. If you want to avoid being perceived as humorous and witty, then why is the content so humorous and witty? Even while you are asserting there is no joke intended, the visuals, the inflection and the content are a comedic delight. No comparison is perfect, but lemme try this: Years ago I asked a gorgeous lady friend to be my dance partner at a series of dance lessons. "I have no romantic interest in the gal," I told an elderly friend. He called me crazy. "You are plucking the strings, but you don't want to hear the music!" He was proven correct. I humbly submit that this is kind of what we have here. Still, you da' best, Mr. Boyle!
Considering how much money Softbank has been losing and all the shady connections it has, I wonder if Masayoshi Son is worried about being put on the Yakuza or Saudi royal family's hit list.
It's an investment bank. They invest in everything.
@@samsonsoturian6013 their losses are close to wiping out their historical gains. They may be an investment bank but a lot of their investors are not very nice people who can make bad things happen to anyone who disappoints them.
@@KingOfMadCows you don't know that. They own hundreds of illiquid ventures
Masayoshi Son shouldn't worry about Saudi royal family. It is okay to lose their money. Just don't threaten their power. Because the Saudis can always get more money, but they can't get back their power if they lose it.
Anything negative Mr. Son says about his last couple of fiascos may be construed as being anti-semantic or somethin'. 🫣
Patrick is by far the funniest serious finance content creator there is. You have a gift to educate, elaborate and entertain.
This is a fantastic channel. Thank you for all you're doing to explain complex financial situations.
I love you Patrick! I came for the financial analysis and stayed for the dry humor. I try to explain your comedy to my wife but she usually gets bored midway through so I think there’s some real info in there. Lol love the content!
He reminds me a bit of Andy Rooney from 60 minutes, but even drier.
Reminds me of Bob Newhart back when he did dry deadpan comedy.
British comedy
My husband watches no UA-cam (I watch a ton) but several times he’s walked through the room while Patrick is on and says “does this guy know he’s funny?” Or “He really hides his jokes.” Yes. Yes he does. To both.
It's amazing how so many venture capital firms are unwilling to apply even the most basic "Would you buy a used car from this man?" test.
VC: but he has a Corolla!!!! 😂😂😂
Well his name is BANK MAN. He MUST know what to do with money. Right?!?!🤯
@@largebills337 This Bankman is Fried.
These Vc firms are run by blustering idiots of the same caliber as our genius politicians
The problem is that they simply have way too much wealth to the point where it’s play money. From what I’ve observed, very few VCs are savvy investors, and simply throw a bunch of money at the wall until something sticks.
The slide from his PP presentation at 12:39 is pure gold, god bless you Patrick
I sincerely apologize for making light of this situation in the comments of your last video. Hopefully, no monkeys were severely financially impacted by the collapse of FTX.
A classy apology. I can't see how Patrick won't accept your genuine contrition.
My monkey lost it's 🍌 fund
There were likely more than a few apes
@@retroatx I'm sorry to hear that. Hopefully the market will rally soon and he can start making back what he lost.
I'm putting together a very bad power point right now for a company that will make an app that allows users to trade in Dutch tulip bulbs. Tulips have been down for quite some time and are well overdue for their big comeback. I'm also pretty good at Angry Birds.
Take my money!!!
Shut up and take my money!
I'm Dutch and I'll sell you mine for a bag of dogecoin.
Funny that, I was going to re-start the French Mississippi Company and sell Real Estate in the New World, can we combine Tulips with my scam............ magnificent investing opportunity?
@@Lonovavir Depends. Do tulips grow well in Louisiana?
I am usually sceptical of anyone telling me that their business will be everything to everyone.
Patrick, you explain complex finance issues and topics,in a approachable, relatable and entertaining way, this is the mark of a great communicator( a rare talent) , please keep it up. Well done sir
I am completely disinterested in anything investment related, but somehow your serious videos keep me invested in them. In all seriousness.
5:24 Car with registration plate 'nymph'. What a subtle humour! 🤣
The real problem with SBF is that his vision was actually too limited. What about people who don’t like bananas, or fruit in general? If he expanded his pitch to include other foods he might not be in his current situation. For example, including carrots would allow him to add rabbits as users of FTX
Hard agree - I personally would've been much more easily duped into it if he had offered up strawberries myself - I'm not a terribly big banana guy, and I credit that to my successful avoidance of FTX.
Mr. Boyle, I'm a finance nerd (and not into bananas) and I do find the technical content of your videos to be absolutely on point and made by a seasoned money manager, but it is also true that your delivery (the Irish accent, the impassibility of the monotone voice AND the Irish humour) also makes for excellent comedy moments. I mean, your very terse comment about monkey JPGs as an asset class made me laugh out loud despite the seriousness of the topic. Keep it going! :)
I see both the humor and serious message in all your videos and the delivery is perfect.
I can’t tell if your intro was satire or real. Just in case it is real. You’ve got a unique sense of humor that cracks me (and I’m sure many other people up)
Thank you for this totally serious video. I did not laugh out of respect, as you said it was not a joke.
I too have respect for the precision and sober reflection of this video, yet I still lost bladder control on several occasions while watching. Does this mean I am suffering from a UTI?
The humor writes itself with this one......
@@davidscott5898 I was just going to comment about my own bladder issues. Very strange.
@@davidscott5898 No, just pelvic floor dysfunction 😂
@@samsonsoturian6013 truth “a total addressable market of everyone on the planet” 😂😂😂 the jokes are in the actual docs! FTX is just so funny (so long as you don’t have your OWN money in it… which any sub of Patrick knows better than to do).
You have an interesting style, Patrick and it's obvious you know your stuff. "Due Diligence" means different things to different people but there couldn't have been any serious due diligence when the financial records are so screwed up. It seems certain that greed ruled and SBF knew how to play to that.
I really like the dry jokes with informative financial news combo. keep up the good work!
Personally, I really like your deadpan delivery especially the "bit of humor" intertwined with the story details otherwise it might be a little boring...not to underestimate the effect these losses will have on real people's lives in any way. My vote is to stay the same and ignore the trolls.
I love your dry humor. Thanks for delivering content that goes beyond what other videos delve into. I always learn something new from your videos!
His sarcasm is off the charts. Patrick’s videos are always a joy to watch.
I recently watched a talk with Cathie of ARK , Elon, Dorsey and concluded that sequoia capital is not alone. Watching Cathy was like a bot that would fail a Turing test in five minutes.
ARK is now renamed TITANIC.
I watch that talk almost everyday, from many different channels, and have concluded that this is accurate.
Im proud to say this is my most fav YT channel! love it all the way!
So Patrick, how can we get VC's to give us millions and what video game do you reccommend we play during the after pitch discussion?
Fortnite. Most definitely. Its what all VC's are gunning for.
Factorio or Satisfactory will suffice. Show them you can be efficient and optimize virtual factories instead of real ones.
I think SBF's issue was the banana part. Eggplant is today's banana. Copy what SBF did, maybe in the Cayman Islands, and tell VCs about crypto eggplants while playing Candy Crush.
I'd think streaming Warframe to them would be a rather USP .
I absolutely love the way Patrick Boyle delivers information..!! * I have a smile on my face, the entire time *
The Dutch tulip bubble of the 17th century made more sense than the FTX bubble.
Atleast in the Tulip mania after the market collapsed there were nice flowers left. With this is nothing, other than some real estate assets purchased with stolen funds which won't be anywhere near the amount lost.
Im excited every time there's a new video, because I know i'm going to learn something, and also get smashed by a killer deadpan delivery. Another amazing delivery Patrick.
I’ve worked for Bain and spent time in the Private Equity Group. We don’t do management due diligence, that is on the fund. We look to validate market growth rates, competitors analysis, profit pools, etc.
I'm wondering who did the FDD for Tiger, though. Another Arthur Andersen to be?
@@michaelwisniewski6047 Yes, yet If there was ONE, the name would have been on the table already, with so many prof investors needing a scapegoat.
Patrick was not saying management due diligence, when he quoted Bain being contracted by Tiger for an assignment.
Your presentation style is very good and I enjoy it ..packed with wisdom. Thank you keep em coming Patrick
I love this channel for the serious analysis, the no joke presentation style, and the grave tone of delivering the information.
Not at all for the laughs.
Masayoshi Son is hilarious. It's like me buying a winning lottery ticket and then convincing people to pay me to buy lottery tickets for them.
Declan, have you ever considered that this might actually work for you in practice?
I think you're onto something
@@beldiman5870 Knowing how some people are you might actually others to invest
I like your sense of humour.....brutal and truthful.....we need both these days.....
You are genius in explaining complicated financial matters with a pinch of humour, Patrick.
There is not a pinch of humour in this entirely serious video, what are you talking about?
“Now of course while people do make $8 billion mistakes all the time, it’s likely that we’re instead looking at a huge fraud.”
How he says this without bursting out in laughter shows Patrick Boyle is a man with tremendous self-discipline!🤣
Only make huge mistakes, never small mistakes.
The bigger the lie, the less we ask why.....
Exactly! Patrick is showing so much respect for his audience that he never laughs at his own jokes, he lets the audience to judge the quality of his message.
Timestamp please
@@cold_jay would you settle for a regular postage stamp?
I listened to this video today after I had listened to the new Bankruptcy CEO of FTX testify. You were spot on 2 weeks ago when this video was posted.
The simplicity and elegance of your statements is only matched by their devastating honesty!! Some of the best financial info on the internet! Thank you.
Thanks Patrick! I’m enjoying your videos far too much. Your understated wit and ability to explain complex matters are equally impressive! 👍
Undoubtedly the most in-depth content I have seen this week re: banana procurement. Thank you, Patrick!
To be fair, they thought they were investing in a casino
That's hilarious haha
Always a good money laundering method.
They were.
@@Troy_Built Rigged, like all casinos so that only the Bank (er) (man) can win.
@mipmipmipmipmip yeah, it was created as a cover for them
You have a natural ability to delivery dry comedy, intentional or not, do not let that talent go to waste. In my opinion, you can be a subject matter expert and deliver knowledge in a fun way at the same time. Funny and knowledgeable are not mutually exclusive.
6:27 - LOL!!!!!!!! Using that pic was genius. I promise that's the only part I laughed at; I do understand that this is a very serious video about a very serious subject, and try to keep my disrespectful giggling down to a minimum.
I actually worked on a due diligence team for an investment OTPP was considering in 2018. I can’t believe FTX passed (considering that they backed out from the way less risky, although still quite risky investment, I was advising on)
I think you have a huge talent in being able to explain to a wide audience how inept and potentially reckless the actions of this outfit were - in an entertaining and ironic way - which can be hilarious. Which is great as we are not all fiscal genus's & as dreadful as the content is, it can be difficult to grasp how so much $$$ can vanish! Most of us can't fathom this amount of money, so if you can get the message out there, which Mainstream Media seems to be ignoring, then this is a very positive result. I just hope these scammers don't get away with ripping off investors in this shameless way. Thank you.
I love your dry style and explanations. Keep up the good work!
The comedy is why I am here and interested and surprisingly it keeps me focused and engaged enough to learn more from the video. Keep up the good work!
Yah know, I was doing chores, listening to the latest coffeezilla, thinking Patrick has great financial info, and one of the best deadpan, straight deliveries I've ever witnessed. Sure enough, next up on the queue was this mightily serious vid.
Very interesting, thanks. Loved Sam’s unformatted slide.
Bankman, Cheeseman, and an offshore attorney. What could go wrong?
Great format. Concise, summarized points and able to tie them all together so we can follow the path and understand the presenation of standards in practice versus what he did. Great !
Having a crap day, come to watch Patrick to cheer myself up. Thanks mate, job well done.
Banana Procurement is one of the BIG issues facing this generation 😮
It keeps me up at night :(
As a symbol of the worlds most serious and eminent states and republics, their acquisition and issuance is vital. I honestly don't know if there are any current economies that aren't pursuing this status.
Patrick is just showing us how efficient market and rational actors make up the world we're living in.
And Sam is showing us how markets work too, in his own way.
My whole extended family moved here to Texas from the Philipeans. They all lost their life savings in FTX. We are glad everyone purchased houses in 2020. They are able to get Heloc and will live off the house from now on.
Their life savings in one company? Not very bright.
@@dave8599 Pinoy "invest" together and that makes them vulnerable. Same con happened in Hawaii.
Patrick is the standup comedian for the world of Finance. Great jokes without any backup laughter from the audience😁.
Another great presentation. If you were my teacher at school I wouldn’t miss a second and I would have learned everything the first time. 😂
Relax Patrick. I understand your distress at getting comments from humorists. I was laughing out loud after reading only a few and I still respect the quality and sincerity of your work. Keep doing what you do so well and cheers from Canada.
Your videos are not comedy but with such a silly set of circumstances that fill in the details of this situation....hilarity will arise no matter how serious we try to be sometimes. Thank you for the great information, always
His videos are not comedy, but they all contain plenty of laser-sharp humor.
I have to say, I have only recently discovered your channel, and it is fantastic. To be fair, I've only recently pulled my head out enough to be an adult and pay attention to financial situations in the US or to invest in my future. Much appreciated, my friend. Be well and take care.
Was Patric disappointed to see SBF's presentation didn't mention about those cool shoes.