Kevin O’Leary’s Defense: Clawbacks & VC Failures 12/16/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 16 December 2022

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In the continuing FTX saga, the main characters in the soap opera are now at odds: FTX’s disgraced founder Sam Bankman-Fried, Changpeng Zhao of FTX rival Binance, and one of FTX’s investors/spokespeople: Shark Tank investor Kevin O’Leary. The venture capitalist discusses his testimony before the Senate and addresses CZ’s accusation that O’Leary lied to the public. Joe Kernen, Becky Quick, and Andrew Ross Sorkin question O’Leary and his investing judgment as pressure mounts from FTX users who lost money because they trusted the Shark’s endorsement. 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	Hi, I'm C. NBC producer Katie Kramer, today on Squackpot.
0:07.0	Kevin O'Leary in the latest chapter in the SBF Said-Z Said Alphabet Soup drama of the FTX crypto collapse and its near rescue from rival
0:16.8	binance.
0:17.8	Yesterday on the air, CZ called me a liar.
0:21.6	That suggests that I perjured myself
0:23.6	in front of the US Senate for two hours this week.
0:26.1	The Shark Tank Investor was a paid spokesman for FTX,
0:29.4	and he's facing a lot of questions
0:31.3	about his own exposure in the now bankrupt company.
0:34.0	We're in venture investing, 8 out of 10 times, the venture fails.
0:38.0	Reasons for failure are different.
0:39.0	This one is alleged fraud.
0:40.0	Are you still calling yourself a venture investor when we're still talking about the fee that you
0:45.1	got as a spokesperson?
0:46.5	So your venture investing was your name being able to be used as a spokesperson.
0:51.2	Plus, Joe, Becky, and Andrew on the stories
0:54.8	that got us squawking.
0:55.9	Elon Musk, who should be on Twitter, who shouldn't be,
0:59.5	it's a process.
1:00.4	When you think about who these reporters are
1:02.4	and the kind of critical coverage that they've had of Elon Musk and also just the shifting back and forth between free speech, not free speech, oh I care so much about free speech.
1:11.0	It's Friday, December 16th, Squack Pod begins right now.
	...

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