NEWS: Breaking down SBF's trial and the downfall of FTX | E1824
This Week in Startups
Jason Calacanis
4.2 • 1.4K Ratings
🗓️ 7 October 2023
⏱️ 49 minutes
🧾️ Download transcript
Summary
This Week in Startups is brought to you by…
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Today’s show:
Jason breaks down the SBF trial (11:47), the peak of the crypto hype (19:15), and takes a few live questions (42:26)!
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Time stamps:
(0:00) Jason kicks off the show
(1:42) Michael Lewis’ book and FTX’s downfall
(10:18) House of Macadamias - Get a free month's supply of Macadamia Milk with any order at https://houseofmacadamias.com/twist by using code TWIST20!
(11:47) SBF’s trial and the prosecutor's argument
(15:42) The reasons people flipped on SBF
(19:15) Crypto hype, wash trading, and the reason for regulations
(23:31) Roots - Head to https://investwithroots.com/TWIST to sign up and start investing today!
(25:05) The defense's argument
(28:49) How investors look at SBF and the importance of governance in a startup
(33:57) Embroker - Use code TWIST to get an extra 10% off insurance at https://Embroker.com/twist
(35:12) Witnesses and Jason's verdict prediction
(42:26) Questions from live audience!
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Transcript
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| 0:00.0 | Remember right after this all collapsed and then he did like 10 interviews on Good Morning |
| 0:04.8 | America and yes, 60 minutes and everybody's like, why is he's making himself look so bad? |
| 0:10.5 | I think somebody was I said that it was a you that you thought that this is the defense |
| 0:17.0 | argument. |
| 0:18.0 | I'm a lunatic. |
| 0:19.0 | I have absolutely no judgment and I wouldn't even listen to my lawyers and shut up. |
| 0:22.6 | Yeah. |
| 0:23.6 | I literally said that. |
| 0:24.6 | I was like, I think that this is part of his I am deranged. |
| 0:27.6 | I don't I do impulsive things and I don't think things through and I wouldn't even listen |
| 0:31.8 | to my lawyers. |
| 0:33.2 | And then when the judge tells me, hey, don't use a computer and don't talk to the press. |
| 0:38.2 | I'm going to get a VPN. |
| 0:39.2 | I'm going to use my computer all day long and I'm going to talk to the press. |
| 0:42.4 | I mean, not only did he do it before he was indicted, after he was given house arrest. |
| 0:47.1 | Yeah, he's on house arrest using a VPN. |
| 0:49.4 | This kid didn't know where the lines are or when he realized he had committed all these |
| 0:53.3 | crimes, he just said, you know what? |
| 0:54.3 | I'm going to lean into. |
| 0:55.3 | I'm a lunatic. |
| 0:56.5 | This week in startups is brought to you by House of McAdamias is the next big health |
| 1:01.6 | trend. |
... |
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