Oh No Crypto Bro

I’ve followed this story with some delight. Apparently Michael Lewis, who wrote The Big Short, has been trailing FTX guy Sam Bankman-Fried around, so we’ll certainly get a kick-ass film out of it someday. Among many, many remarkable facets to the tale is that the crypto market has supposedly lost $2 trillion of valuation this year… and Wall Street has barely flinched.
When Sequoia Capital – allegedly the most intelligent venture capital firm – invested $210 million in FTX last year, it asked to see financial reports and instead was told “we’ll send you a few bullet points.” It’s traditional when investing that much into a firm to have someone on the board, but Bankman-Fried wouldn’t let anyone on the board of directors, which was him, an attorney, and an FTX employee.
For a company “worth” $32 billion at one point.

Zero oversight! What could go wrong?

I’ve followed developing news with Patrick Redford of Defector, who is typically hilarious. But there are several excellent reporters and twitter feeds. Ed Zitron on Twitter is great.

Here, a professor of finance at King’s College splains it to us. He keeps showing photos of Phil Spector for Sam Bankman-Fried, so gotta respect his game:

It’s an exciting time to be in the crypto world.

Hey, I Think I’ve Got A Live One

Billion Dollar Babies is kicking my ass today, this song in particular.

Finally got a ride, this old broad down from Santa Fe
She was a real go-getter
She drawled so sweetly “Think child, that things’ll get better”
We pulled off the highway
Night black as a widow
“Yeah, I read the Bible”
She said, “I wanna know of you”

Hey, I think I got a live one
Hey, I think I found a live one
Hey, I think I got a live one
Yeah, Yeah, think I got a live one
Okay boys

Felt like I was hit by a diesel or a Greyhound bus
She was no babysitter
“Get up now sugar, never thought you’d be a quitter”
I opened the back door, she was greedy
I ran through the desert, she was chasing
No time to get dressed so I was naked
Stranded in Chihuahua

Alone, raped and freezing
Alone, cold and sneezing
Alone, down in Mexico
Alone

“Boogie” Said with A Mancunian Accent is My New Drug

I’m addicted to Andrew Hickey’s A History of Rock Music in 500 Songs. I started at #1 after finishing Cocaine & Rhinestones, and have grown progressively more impressed with it. It’s impeccably researched,and so full of good stories and facts you never had any idea of. The episode on “Brand New Cadillac” is masterclass. Highly recommended. I will avoid spoilers.

Episode 77: “Brand New Cadillac” by Vince Taylor and the Playboys