There's an axiom on Wall Street that I've learned the hard way, and that is anything that you think cannot happen, does happen.

It's not the things that you worry about that get you in trouble.

It's the things that you think you know with absolute certainty

that you're completely wrong about.

Those are the things that get you in trouble.

That's the weird thing about life.

You had asked me in 2005 what was going to happen to Lehman Brothers.

I was like, okay, that stock's 40.

It's going to go to 300.

It's a very well-oiled management team.

World markets from Tokyo to Wall Street recoiling today,

as last-minute talks failed

in America's fourth largest investment bank, Lehman Brothers,

declares bankruptcy.

Three short years later, they were bankrupt.

So I was certain about that outcome, and I was completely wrong. If I was worried about it,

the things that you worry about, you usually are making some concessions for. You're usually

thinking about alternatives, plans, B's and C's.

But it's the things you think about certainty.

This is the case of Sandbank and Freed.

You had asked me if Sam Bankman Freed, who was the second largest cryptocurrency exchange in the world,

at 12.5% of the market share, was minting $15 to $20 million of revenues a day,

...