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My First Million

Reaction To The Collapse of FTX and Sam Bankman-Fried

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 • 2.7K Ratings

šŸ—“ļø 15 November 2022

ā±ļø 41 minutes

šŸ§¾ļø Download transcript

Summary

Episode 385: Shaan Puri (@ShaanVP) and Sam Parr (@TheSamParr) react to the failure of the cryptocurrency trading firm FTX and the taking down of its CEO, Sam Bankman-Fried. ----- Links: * @AutismCapital * @TechEmails * Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel. * Want more insights like MFM? Check out Shaan's newsletter. ------ Show Notes: (02:30) - What happened (12:15) - Alameda (17:55) - Elon and SBF (31:55) - Prison ----- Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more. ----- Additional episodes you might enjoy: • #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits • #209 Gary Vaynerchuk - Why NFTS Are the Future • #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto * #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett • ​​​​#218 - Why You Should Take a Think Week Like Bill Gates • Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More • How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

Transcript

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0:00.0

Yeah, yeah, it's it's bad. I mean it's very very visible very very painful very like all day

0:07.3

I mean just the the goal of people I mean for what it is. That's like a crazy crazy thing to do

0:23.9

All right, we are live Sean

0:26.0

This is all I've been wanting to talk about I purposely haven't texted you about this because this is all I want to talk about but

0:33.0

Like maybe just give like a three to five minute background on what's going on

0:37.2

I think you're the guy that should be doing that and then I want to tell you some of the more interesting points that I think

0:42.6

Maybe haven't been covered or are less covered than I think are either hilarious or interesting

0:48.1

Okay, great

0:49.4

And by the way, should we check I have a $25,000 withdrawal that's that we will see

0:55.0

Who will see if ftx has any money left? I'm gonna check right now and see if it's come through

1:01.2

What do you think yes or no did I get my 25 grand out? I think you I think you probably got it

1:06.1

I did on November 9th. It's now November 14th. It said it would happen by today and it is

1:12.5

Not in the bank account. All right. There we go. Just another disappointment. Okay, so why don't I have my deposit?

1:17.7

Actually, it's not even a deposit they they advertised with us and so they paid me inside ftx and I was just lazy and never with through it. Okay, so

1:25.3

Basically what has happened though?

1:26.8

Here's the what happened for those who aren't following it that closely

1:30.2

FTX which is a big crypto exchange is a place to go to buy sell different cryptocurrencies

1:35.9

It was I think the number two or three largest exchange in the world

1:40.6

Use mostly internationally because people all around the world want to buy I think 90 plus percent of people buying crypto are

1:49.0

International and so ftx was huge basically coin base, but bigger than coin base bigger than coin base

1:54.0

Binance is number one. I think there's technically something number two

1:56.8

But really it's like Binance number one ftx two and sort of like coin base and the others you know come after that

...

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