Sam Bankman-Fried & FTX: Fraud on top of sh*t mountain

Corporate Gossip

Becca Platsky

Society & Culture, Business

4.9 • 655 Ratings

🗓️ 3 November 2023

⏱️ 84 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Becca is joined by Corporate Gossip startup correspondent Aaron Cohn to dip our tube-socked toes into the FTX trial. We meet Sam Bankman-Fried (SBF), a rumpled 28-year-old-grown-adult-boy-genius who built a $40 billion crypto empire in less than three years. But his meteoric rise to crypto kingpin was followed quickly by his fall to the bottom of shit-coin mountain. And now, SBF is facing up to 115 years in federal prison for fraud.

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Hosts: Becca Platsky (Becca@nitetoast.com) Adam Platsky (Adam@nitetoast.com)

Produced by: Michael Albanese @bigmanmike

Timestamps:

17:40 - Corporate Gossip #1: Sam Bankman Fried raises $420.69m from 69 founders in a "meme" funding round and raises zero red flags

33:45 - Corporate Gossip #2: This guy can't be a criminal… I mean, come on, have you ever seen a criminal in wrinkly cargo shorts???

45:00 - Corporate Gossip #3: To the moon!

50:00 - Corporate Gossip #4: FTX: Fraud on top of shit mountain

1:09:40 - Corproate Gossip #5: When people stop being polite, and start getting indicted

1:13:30 - Corporate Gossip #6: Will the Smol bean / Widdle baby defense work for Sam?

Transcript

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0:00.0	Welcome back to the Corporate Gossip Podcast, a very important show note. This episode was recorded on Wednesday, November 1st, 2023. On Thursday evening, November 2nd, after around five hours of deliberation, a jury found Sam Bankman-Fried guilty on seven criminal fraud charges. He faces up to 115 years in prison, though we won't know
0:24.4	how much time he will serve until his sentencing hearing in a few months. Regardless, he is likely to
0:30.4	appeal. A few more announcements before we get into the show. We are going to take a few weeks off
0:35.6	because of some scheduling issues, so we'll be back at the end of the month.
0:39.4	In the meantime, we are planning our finale episode.
0:43.1	Send in any questions you have to becca at nighttoast.com or DM us on Instagram or TikTok at Corporate Gossip Pod,
0:51.5	and we'll answer them on our final episode this season.
0:55.1	Anyone who does send in a question will be entered to win a copy of When McKinsey comes to town.
1:00.7	That's the book we discussed in our McKinsey episode,
1:03.2	and the publisher of that book was nice enough to send us a few copies to give away.
1:07.9	The giveaway is for our North American listeners only,
1:10.6	but of course, wherever you
1:12.1	are in the world, please send in your questions. Okay, now the best part of the show, where we get to
1:17.6	thank all the people who bought us a coffee this week. We have Friend of the Pod, Marika, Jessica
1:23.2	Gills, Georgie, Preston, Rami, J.N., Megan, Chandler, Maggie, Laney, and special thanks to Stephen Dubrow,
1:32.1	who funded our entire research trip to Ted's Montana Grill. Adam, Mike, and I can't wait to make
1:38.4	our reservations and report back to you guys. Of course, if you want to support the pod and get a shout
1:44.1	out, you can click the Buy Us a Coffee link in the show notes course, if you want to support the pod and get a shout out, you can click
1:44.9	the Buy Us a Coffee link in the show notes, but the easiest way to support the pod is to rate
1:49.8	and review on Apple Podcasts or Spotify. Okay, here's the show. This is the true story of four
1:59.1	people picked to live in a penthouse in the Bahamas,
2:02.6	work together, and have their lives investigated.
	...

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