SBF buys the crypto dip, hedge funds short Tether, VC funding down, flying nuclear cruise mockup | E1495

This Week in Startups

Jason Calacanis

Technology

4.4 • 1.3K Ratings

🗓️ 28 June 2022

⏱️ 86 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

First, we dig into the crypto contagion where FTX CEO Sam Bankman-Fried is stepping in to backstop crypto lenders (2:56). Then, we check in on the billions of dollars sitting in SPACs- remember those (39:27)? We do a quick hit on the venture market drying up in Q2 (54:27) before we get into our We Live in the Future: a mockup of a SkyCruise luxury airliner that uses nuclear power and never lands (1:16:36).

(0:00) Jason and Molly tee up today’s show!
(2:56) FTX CEO Sam Bankman-Fried seems to be acting as the crypto industry's personal backstop right now
(11:25) Embroker - Get an extra 10% off insurance for your business at https://Embroker.com/twist
(12:38) Reaction to SBF crypto bailouts/loans
(17:47) Traders short Tether: According to WSJ, multiple hedge funds have shorted Tether in trades worth hundreds of millions of dollars
(22:24) Lemon.io - Get 15% off your first 4 weeks of developer time at https://Lemon.io/twist
(23:41) Tether’s CTO’s tweet storm
(33:52) Thorne - Personalized, scientific wellness. Go to https://Thorne.com/u/TWIST
(35:08) Gary Gensler clip: “tokens have key assets of securities besides bitcoin”
(39:27) Well over $100B sitting in SPACs looking for companies to invest in
(54:27) VC funding is down to the lowest levels since 2020
(1:16:36) WLITF: SkyCruise, a flying hotel that never lands
(1:23:30) Coming up on This Week in Startups

Transcript

Click on a timestamp to play from that location

0:00.0	Hey, everybody, it is Tuesday.
0:02.8	Yes, we're just starting to climb the mountain.
0:05.2	Just crawling our way up.
0:07.0	This is pitch day.
0:08.4	This is the part of our day.
0:09.6	Crampons and our ice picks out.
0:12.3	And we're gonna make it in our heads.
0:14.4	We need you up here.
0:15.7	In our heads, we're gonna make it up this hill.
0:19.2	And this hill is a big one today.
0:21.7	We're gonna dig into the crypto contagion.
0:23.8	We have possibly a rescuer
0:26.3	or maybe a vulture situation happening here.
0:28.7	FTX CEO Sam Bankman Fried is stepping in
0:31.6	to backstop crypto lenders and investors
0:35.3	and blocked by a rallying to raise funds
0:36.9	to avoid having their equity wiped out
0:38.8	by FTX CEO Sam Bankman Fried.
0:42.1	Yeah, I mean, when the market comes apart like this,
0:45.0	there are opportunities and people who have a lot of cash,
0:47.2	what I understand, Sam has a big cash position
0:52.2	that he may have sold crypto at the right time
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Jason Calacanis, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Jason Calacanis and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.