"Someone who had nothing to hide" "So he wasn't just full of it". Yes, he did and he really was. Of all the people who were defrauded, conned and completely fooled by Samuel Bankman-Fried, Michael Lewis is at the top of the list.
I am so glad I caught this heartwarming interview. It was delightful. It tells me what I need to know about your podcast and Mr. Lewis. Thanks. I know now that I will read the book~!! 50:34 {"Alameda, his money, no harm done. Right?"} No, not right. Because Alameda "borrowed" money with faux collateral to back it up~! Right? ha ha. 53:25 I detect sincere caring emotions here from Lewis.
31:18 "I put $2,000 FTX US"... including Credit Card (so I'm still a creditor "but it's $2,000" the credit card; I never used it); "I put half of it, I bought some Ethereum I bought some Bit Coin to see if I could do," ..."and I was able to buy Swiss Franc." [huh? with the/what leftovers?] This guy can't add up his own $$ or tell you exactly how much he had "invested" in FTX.
When you buy crypto, what are you buying other than an early position in a ponzi scheme? You're not investing in anything that makes anything or provides a service. This discussion doesn't mention the enormous carbon pollution generated which only adds to the financial crimes.
Crypto does have some similar aspects to a Ponzi scheme but it also has some essential differences. Most glaringly crypto does not promise a guaranteed (or implied) return that is supposed to come from operating profits but actually is paid from the pool of investor capital. Crypto is basically a speculative gamble that someone, for whatever reason, might pay more for it than you paid. The FSX-Alameda swindle also was significantly different than the typical Ponzi scheme. While neither is less a crime it could be misleading to equate the two.
I'm worried. Michael Lewis has often done interviews like this for online platforms from his home office. Now he's doing them from a kitchen that looks like the kind of apartment a recently separated man rents while going through a divorce.
I think Michael Lewis is still drinking the kool-aid. The quote of a "Sam shaped hole in the world" has been used a few too many times. He is the only creditor that seems to think that he'll get his entire FTX claim back with interest. I stopped listening when I heard the "careless, misplaced money/victimless crime". This was filmed in December 2023.
How could it end any other way? I have no math degree from M.I.T. or anywhere else, and I get the concept of the Ponzi scheme. It must collapse. It puzzles me that SBF didn't get that. He probably thought the magic would keep coming.
Sam’s clearly on the spectrum but has an extremely high iq, which is throwing Michael off being able to see it as ASD. Sam has empathy and feelings, they just manifest very differently due to his ASD.
41:02 Ok, but was he just as reckless with his own money? Perhaps if that fact in the same time frame [between when he 'could have' segregated other people's money out and the time he put them in great jeopardy and then immediately after] were delineated we'd have a sharper analysis. 41:11 "created circumstances for the fraud and circumstances forced them into it" ~ that sounds about right or the best explanation.
"Someone who had nothing to hide" "So he wasn't just full of it". Yes, he did and he really was. Of all the people who were defrauded, conned and completely fooled by Samuel Bankman-Fried, Michael Lewis is at the top of the list.
I am so glad I caught this heartwarming interview. It was delightful. It tells me what I need to know about your podcast and Mr. Lewis. Thanks. I know now that I will read the book~!! 50:34 {"Alameda, his money, no harm done. Right?"} No, not right. Because Alameda "borrowed" money with faux collateral to back it up~! Right? ha ha. 53:25 I detect sincere caring emotions here from Lewis.
31:18 "I put $2,000 FTX US"... including Credit Card (so I'm still a creditor "but it's $2,000" the credit card; I never used it); "I put half of it, I bought some Ethereum I bought some Bit Coin to see if I could do," ..."and I was able to buy Swiss Franc." [huh? with the/what leftovers?] This guy can't add up his own $$ or tell you exactly how much he had "invested" in FTX.
45:00 Doesn't seem logical that one entity can use a loss to offset a gain in another entity.
When you buy crypto, what are you buying other than an early position in a ponzi scheme? You're not investing in anything that makes anything or provides a service. This discussion doesn't mention the enormous carbon pollution generated which only adds to the financial crimes.
Crypto does have some similar aspects to a Ponzi scheme but it also has some essential differences. Most glaringly crypto does not promise a guaranteed (or implied) return that is supposed to come from operating profits but actually is paid from the pool of investor capital. Crypto is basically a speculative gamble that someone, for whatever reason, might pay more for it than you paid. The FSX-Alameda swindle also was significantly different than the typical Ponzi scheme. While neither is less a crime it could be misleading to equate the two.
Very good interview. Very good podcast. Thanks gents for the job
Thank you so much!
Michael Lewis is prepping for a speaking tour with Tony Robinson and Robert Kiyosaki to pitch Amway. How the mighty have fallen lol
Michael Lewis is a con man
I'm worried. Michael Lewis has often done interviews like this for online platforms from his home office. Now he's doing them from a kitchen that looks like the kind of apartment a recently separated man rents while going through a divorce.
Michael Lewis is a con man
LA
@@QveenXsiren BA?
@@seanwebb605 indeed
Ha ha ha, I though similarly. I wondered what the hell he was doing being interviewed while in an Urgent Care's examination room?
I think Michael Lewis is still drinking the kool-aid. The quote of a "Sam shaped hole in the world" has been used a few too many times. He is the only creditor that seems to think that he'll get his entire FTX claim back with interest. I stopped listening when I heard the "careless, misplaced money/victimless crime". This was filmed in December 2023.
How could it end any other way? I have no math degree from M.I.T. or anywhere else, and I get the concept of the Ponzi scheme. It must collapse. It puzzles me that SBF didn't get that. He probably thought the magic would keep coming.
Sam’s clearly on the spectrum but has an extremely high iq, which is throwing Michael off being able to see it as ASD. Sam has empathy and feelings, they just manifest very differently due to his ASD.
Michael Lewis is a con man
41:02 Ok, but was he just as reckless with his own money? Perhaps if that fact in the same time frame [between when he 'could have' segregated other people's money out and the time he put them in great jeopardy and then immediately after] were delineated we'd have a sharper analysis. 41:11 "created circumstances for the fraud and circumstances forced them into it" ~ that sounds about right or the best explanation.
P.S. when the S.E.C. finalizes crypto regulation as an Act of law it should settle this tulip mania Ponzi scheme. The end.
Michael can we chat??