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Motley Fool Hidden Gems Investing

Michael Lewis Interviewed by Tom Gardner

Motley Fool Hidden Gems Investing

The Motley Fool

Business, Investing

4.33.1K Ratings

🗓️ 28 October 2023

⏱️ 29 minutes

🧾️ Download transcript

Summary

Michael Lewis knows how to tell a story. He’s given color to the characters behind baseball and the finance industry. Now, he paints a portrait of Sam-Bankman Fried, the infamous face of crypto who went from billionaire to bankrupt overnight. Motley Fool CEO and co-founder, Tom Gardner, caught up with Lewis at a Motley Fool member event in New York. They discuss: The downfall of crypto exchange FTX and potential outcomes for Bankman-Fried’s ongoing criminal trial The hold that FOMO has over Silicon Valley Why organizations can’t thrive without “keen emotional intelligence” Host: Tom Gardner Guest: Michael Lewis Producers: Mac Greer, Mary Long Engineers: Tim Sparks, Rick Engdahl Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

If you're a venture capitalist, your biggest fear is not that

0:04.4

sandbagged and freed takes your money and you lose $30 million.

0:08.1

It's that FTX is the next trillion dollar company and you weren't there.

0:11.5

That's the calculation they're all making is that

0:14.1

this thing looks like a rocket ship. It actually

0:17.0

actually has gone in revenues from 20 to 100 to

0:20.4

950 to a billion. And the revenues are going to be a byproduct of

0:26.3

like how many people want to gamble in this casino.

0:31.7

I'm Mary Long and that's Michael Lewis, the author and financial journalist

0:35.2

behind bestsellers like Moneyball and The Big Short.

0:38.5

Earlier this week, Motley Fool CEO and co-founder Tom Gardner caught up with

0:42.4

Lewis at a special event for Motley Fool One numbers.

0:45.9

Tom talked to Lewis about his latest book, Going Infinite,

0:48.8

which follows the meteoric rise and fall of crypto's one-schooled boy,

0:52.8

Sam Bacon Free.

0:57.6

In a way, I may have one question for you and that's it or I may have 712 other

1:02.9

questions. So there's no real in between. So here's the first question.

1:07.0

Could you tell the story of FTX? Two versions.

1:12.4

Version number one is the version where

1:15.2

sandbankment freed is overwhelmed, doesn't have good operating capabilities in

1:21.5

the organization and is genuinely making an effort

1:27.2

to advance his ideals and to do something he believes in and his intentions are good.

...

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