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Squawk Pod

FTX Former Spokesman Kevin O’Leary on Losing His $15m Payout 12/08/22

Squawk Pod

CNBC

Business News, Investing, Business, News

4494 Ratings

🗓️ 8 December 2022

⏱️ 31 minutes

🧾️ Download transcript

Summary

In the wake of the FTX fiasco and all the crypto damage that accompanied it, Wall Street and Main Street are demanding answers from the man behind it all, Sam Bankman-Fried, and the investors that helped prop up his faulty business. Venture capitalist, Shark Tank investor, and co-host of Money Court Kevin O’Leary took an equity stake in the business and became a spokesperson for the now-bankrupt FTX, but today, he admits that he and his fellow investors made a mistake. Joe Kernen, Becky Quick, and Andrew Ross Sorkin ask O’Leary about his due diligence practices for investments, and Mr. Wonderful details his most recent conversation with former FTX CEO SBF in an attempt to find the millions that have gone missing.. Plus, WNBA star Brittney Griner has been released from Russian prison, China is deciding between two risky Covid-policy options, and Salesforce CEO Marc Benioff has split with another co-chief executive, raising questions about the leadership tension in the “cloud.” In this episode: Kevin O’Leary, @kevinolearytv Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0

Bring in show music please.

0:03.0

Hi, I'm C. NBC producer Katie Kramer, today on Squawk Pod.

0:08.0

We all look like idiots.

0:12.0

Shark tanks Kevin O'Leary. He's on the record about his

0:14.7

investment in crypto disaster, FTX, and his deal to be their

0:18.3

spokesperson. A widely followed investor with years of experience. How could this

0:22.4

happen? They're looking at this and saying

0:24.2

what kind of compliance did this guy do and just asking around and seeing who else

0:29.2

was investing is not compliance unto itself. Mr. Wonderful answers all of our questions.

0:35.0

Did I do enough?

0:36.0

Do diligence the answers no.

0:37.0

Did I rely like others did in concept of group think yes, we all did that.

0:41.0

That interview today, plus Brittany Griner released inside the

0:45.2

Sales Force Seats Split and two COVID roads diverge in China and both are

0:50.0

rough terrain. Either you stay the way it is, or you relax in terrible choices, right?

0:55.5

Neither one is good.

0:57.8

It's Thursday December 8th, 2022.

1:00.8

Squackpot begins right now.

1:02.8

Stand Becky by in three, two, one, queue please.

1:07.7

Good morning, everybody.

1:08.8

Welcome to Squacbox here on CNBC.

1:10.6

We're live from the NASDAQ market site in Times Square. I'm Becky Quick along with

...

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