SBF And FTX GTFO | The Acquirer's Multiple®

In their latest episode of the VALUE: After Hours Podcast, Brewster, Taylor, and Carlisle discuss SBF And FTX GTFO. Here’s an excerpt from the episode:

Tobias: I didn’t really know who SBF was, this is Sam Bankman-Fried, and FTX. I didn’t know who this guy was probably three weeks ago. I didn’t really know. I didn’t really know what it did.

Jake: Didn’t know or didn’t care? What was that like? [laughs]

Tobias: Little bit of both. I didn’t really know, didn’t really care.

Jake: Okay.

Tobias: Now that he’s blown himself up and he’s got into the public eye, but I went and had a look at who he was, pretty unimpressive. But it’s amazing to see the mainstream media reporting on this thing. You would think that he’s been trying his hardest and he’s had a little stumble and it’s going to be terrible, because now he’s not going to be able to donate all of his money.

Jake: Yeah– [crosstalk]

Tobias: It’s not like there’s any fraud going on there.

Jake: Alleged fraud, but based on his own tweets, it sort of sounds he’s copped to taking money from the customers and then using it for whatever he wants. I thought you weren’t allowed to do that.

Tobias: Well, crypto is a brand-new world. There are no rules there.

Jake: Ah, okay, that’s the difference. Sorry, I was– [crosstalk]

Tobias: Because we’re in this world, so we’re seeing this stuff all the time. We know people that are involved or who at least know what’s going on. But I just wonder if the average person at home who doesn’t really pay attention this stuff really knows what’s happened. It sounds like this MIT grad, he’s has been trying his hardest and now, all of his philanthropic dreams have come to an end.

Jake: Yeah, it’s [crosstalk] shame.

Tobias: It’s all the passive voice. There’s no act– Nobody actually did anything bad. Nobody’s done anything, including him, particularly not him.

Jake: Yeah.

Bill: Is that the coverage? Is that what people are saying more or less?

Jake: Oh, it’s been Wall Street Journal, New York Times, Washington Post, all three of them have had these puffy pieces about how it’s such a shame that climate change is not going to be addressed now, because this– [crosstalk]

Tobias: Or the pandemic.

Jake: And the pandemic, yeah, or the next pandemic is going to be rough, because he’s not there to be our savior. It’s like this weird narrative.

Tobias: He’s handed out a lot of money to a lot of those groups. It’s amazing to see them all this– [crosstalk]

Jake: Journalists or– [chuckles]

Tobias: I think I don’t want to get this wrong, but I thought Vox was one of them. The Intercept certainly. They’ve all got pretty big slugs of money, like a few million bucks. Sorry if that’s not true for Vox. I’m pretty sure it’s true for the Intercept. None of them have disclosed any of that until they’ve been told to do so.

Jake: Calm out.

Tobias: Yeah.

Bill: Yeah. Well, and some of his backers probably have some media strings behind the scenes, right? It’s awful shit.

Tobias: A few podcasts that have been paid– [crosstalk]

Bill: Fuck that guy.

Jake: [laughs]

Tobias: A few podcasts have been made for mentioning– People are getting two and a half grand for saying FTX. Damn. I’d say it for one and a half thousand dollars. I’ll say it for one, FTX. Send the check.

Jake: Pay us. [laughs] You’re now in the long list of claimants- [crosstalk]

Tobias: Creditors.

Jake: -bankruptcy out of here. Creditor.

Tobias: [laughs]

Jake: It’ll be Thomas Braziel will be sending you a couple pennies out of the- [laughs]

Tobias: Yeah, are we getting some Lunar coin or something like that?

Jake: Yeah.

Tobias: Yeah.

Bill: The guy’s a piece of shit. What is there to write?

Tobias: Yeah, well, they’ve been– [crosstalk]

Bill: Cool. He’s a piece of shit that promised nice things, still a piece of shit.

Jake: [laughs]

Tobias: No dispute from me there. But you wouldn’t be allowed to write that piece, I don’t think. Nobody’s really written that piece.

Bill: That’s why they come to Value: After Hours, for the real news.

Tobias: Yeah, the truth. We don’t know anything either. We’re just speculating from the outside. [laughs]

Bill: That’s right.

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