Who wants to be a Trillionaire - Crypto Edition
Featuring Sam Bankman-Fried from FTX and the cast from HBO's Succession
Hi! It’s George from Investorama. I explore the world of Investing, Defi &Fintech on YouTube, Courses, and Podcast conversations.
In this edition, I share my video about SBF and a short selection of articles about the FTX meltdown.
If you are remotely interested in what’s happening in Defi and Crypto, you are likely to be flooded by the news, analysis, and opinions about FTX. I’ve been reading a ton of them for this video - inspired by HBO’s Succession.
Video
Reading list
Here is a concise of essential readings about FTX:
If you read only one comprehensive article, it has to be Ben Hunt’s: The MacGuffin, Part 2: The Story Arc of SBF and FTX.
For insights into the mindset of Venture Capitalists and supporters that helped SBF build his empire, read this spotlight on SBF by Sequoia (removed from their site, luckily, the web archive saved it)
If Twitter’s your thing, this thread by Jason Choi is excellent.
If you feel studious, you can dive into the whole case, including the remarks from the new CEO that this is the worst he’s ever seen (and he was in charge of restructuring Enron!)
Planning for 2023
It’s this time of the year. I will soon update you about major upgrades for YouTube, the courses, this newsletter, and the podcast(s). One thing is sure: the “democratization of alternatives” is an investment trend that will continue to make headlines in 2023. This is an opportunity that carries plenty of risks and that I want to keep exploring.
As a reminder, Democratization usually means “access” (cf. Robinhood), but the meaning from its Greek etymology is different:
δημο (demo): power
κρᾰτῐ́ᾱ (people): people
Empowering people about investing is the best way to prevent or at least limit the next FTX.