So after Scott came on the pod and was like, I have my distressed guy in Europe. I'm like, Ben, find me the distressed guy in Europe.

I feel like I can rule the world. I know I could be what I want to. I put my all in it like my days off.

On the road, let's travel. Never look. All right. So Scott Gallo is on our podcast. And we ask him, we say, you know, we heard the story that you were buying distressed FTX claims. After FTX went into bankruptcy, and everybody hated it, it was like, it was a disgrace. It was the symbol of a bad, bad business, a bad investment. I heard that you were buying up claims on the cheap and that those claims are now being paid out in full or even more than full because Sam Bankman-Fried, whatever, he was doing his thing. He had owned enough assets that would make all the creditors whole. And so he tells the story about how he's got this guy who's brought him into a couple deals, and he was talking about distressed investing when he told the story he like he like kind of dismissed it he was like i bought 10 million dollars of ftx shares or something like that or two million two million i think it was sorry whatever it was like a seven figure bet and he sort of just said like yeah i just did this one thing and sean and i were like rewind what And that's what he told the story. Also, it was a

moment where it's like, hold up. Put some respect on the podcaster's name. I mean, I think a lot of people make fun of Scott. There's like the inverse Scott Galloway index and stuff like that, basically about his bad calls he's made in his life. And I think in general, people don't really realized and Sam, you do a good job of this.

You're like, actually, you were an entrepreneur who sold a company for $100 million.

He never really talks about it that much.

And then he's done some interesting investing stuff. And I just feel like because almost he's so good at the gift of gab, I think people sort of bucketed him as all talk, no walk. So it was interesting to hear one of his interesting walk stories. So then I got in touch with Tommy and we, I say, tell me about this. I'm interested. What are you doing? What are you? What's going on? And he had some interesting stories. So I wanted to invite him on the podcast to do two things. Teach us about this category of distressed with both me and Sam are pretty much novices in this. Like we are, we're missionary guys. We like vanilla.

Like we do, we do very basic stuff, you know, when it comes to business and investing.

This is more exotic and it's got me interested. I want you to start with a little crispy

description of like, what's the big idea with just dressed investing? What are you trying to do?

How do we wrap our minds around this? And then I want to play a game called first, best,

worst, weirdest, which is where we go through maybe the first play you did, the best play that

ever worked out for you, the worst deal that went sideways, and then just something where shit got weird

while you were doing it. But I went first, can you just make us a little smarter? Teach us,

like, Distressed investing one-on-one. What are we talking about?

Oh, man. Okay, so I am the bottom of the food chain of distressed investing. So there is a whole

industrial complex of large distressed investing firms out there is a whole industrial complex of large distressed investing

firms out there. You have oak tree and silver point and fair lawn and you can you guys Apollo.

Everyone's heard these names or maybe if you're a foul business and investing, I guess.

So for myself, I kind of came up a different way, which is my parents were bankruptcy lawyers,

and I sort of learned, I knew a lot about bankruptcy. And generally what you're trying to do

is you're almost like value investing in the toolkit is you know a lot about the legal process.

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