HE LEFT THE CALL
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This video is an opinion and in no way should be construed as statements of fact. Scams, bad business opportunities, and fake gurus are subjective terms that mean different things to different people. I think someone who promises $100K/month for an upfront fee of $2K is a scam. Others would call it a Napoleon Hill pitch.
1:07 Interview #1 - Explain the missing $8 Billion
1:58 Sam explains the "accounting error"
2:58 Sam Claimed He Couldn't See $8 Billion
3:24 Sam Agrees
3:35 Sam's Employees Laughed at His Explanation
4.29 "I had a lot going on"
4:52 I interrupt Sam
5:25 "I was vaguely aware some of these systems existed"
5:50 Sam tells the interviewer he has to leave
6:02 Interview #2 - Sam's Terms of Service
7:00 "My memory is that it was more than a billion"
8:20 Sam's Story Isn't Consistent with Insiders
9:33 "I'm saying what I believe"
9:45 Why do people in your company know more than you?
9:53 I don't know what they said
10:07 I'm telling you what they said
10:34 Alot of the position did not appear
10:40 So where was the position
10:55 Who controlled the Secret Stub Account?
11:04 Are we supposed to believe nobody knew about it?
11:16 Somebody had to lose the money
11:22 Seems really convenient... Yeah I don't know what to tell you
11:34 Sam knew Alameda's financials per Forbes
11:58 Sam hasn't seen the article
12:43 But that means you knew what Alameda had
13:13 What if we find out you're lying...
13:41 SAM: I think a lot of my credibility is already gone
14:00 Host: Is there a chance to get our money back?
15.01 Who were the funding offers for FTX?
15:12 Was the $4 billion ever real?
15:22 Uhh I think it uhh I don't know for sure
15:48 Misleading M2M statements, were you deliberately misleading?
16:27 Sam acknowledges he wrong.. "Massively misjudged"
17:02 What do you mean? No way you make a simple mistake like that
17:22 Pretty big misjudgement I made
18:26 Makes no sense even without a market crash
18:52 The answer seems to always be "I made an embarrassing mistake"
19:26 I was starting with M2M and adjusting down
19:47 You never marked down
20:22 Was that FTX US?
20:25 Sam leaves the call again, but comes back
20:29 I have a question about Dan Friedberg
20:37 Sam doesn't feel comfortable talking about Dan...
21:10 A tale of two failures: Fraud or Negligence
21:52 Your lawyer's biggest achievement was hiding fraud
22:09 Sam: We had a number of people in our legal department
22:35 He was the chief guy, he should've caught this stuff..
23:48 Why'd you choose him specifically?
24:28 Not a failure of regulation
26:18 Sam leaves the call
30 Νοέ 2023