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Episode 275: Planet Money (Patreon)

Published:
2023-03-13 14:09:12
Edited:
2024-03-05 16:57:48
Imported:
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Content

Freelance journalist Jacob Silverman joins us to talk about the collapse of Silvergate Capital, the shakedown of crypto, and his forthcoming series on Sam Bankman-Fried and the implosion of FTX’s billion-dollar fraud.

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Comments

Anonymous

Real OG’s remember the Bart scam back in the day where you would cut the strip on the card into multiple strips and glue them onto other cards.

Frank

Would you all consider doing an ep on Banco Ambrosiano and the Vatican? Watching Vatican Girl rn, this shit is nuts

Robert Granniss

Every time one of these episodes on crypto drops, I wonder how it's different or worse than the rest of finance. I'm still wondering.

Red Herring McGuffin

the 'i lost it in a boating accident' has for a long time been the meme excuse gun guys say they'll give in the case of a ban/registration/whatever after hiding their guns somewhere pretty sure they've been saying it longer than crypto has been a thing, but no idea if it's the origin of the saying

Lawson

Love when Liz shares any kind of sports knowledge.

MinkL0af

I do get annoyed with the constant insistence that cryptocurrencies are fake and how crazy it is that this is all fake. REAL MONEY IS FAKE MOTHERFUCKER. US DOLLARS ARE LITERALLY FAKE. STOCKS ARE FUCKING FAKE. IT'S THE EXACT SAME.

Will McCann

Funniest intro with the Big Baller Brand shit, had me rolling on my way to work.

a clash of purple
>>104215276

Whoa, MinkL0af, you're really blowing my mind here... If you think about it, like, nothing is real man... whooooaaaaa...

surrander 2000

Great, G R E A T prelude to ep 276. Now all we need is a wraparound that back-to-front overviews the entire span with a focus on "whaaaat happened ?!?!" when somebody realized Mr. Gutenberg's machine could be used to print (£$¥€) V A L U E ! ! ! aw

MojoMan

Who needs crypto when you three rake in close to $30,000 per/mo for just being pundits. YES! I am sooooo green w/ envy.

justDave
>>104215276

To be fair, cheese pizza and drugs is literally the ENTIIRE EECONOOoomyyy! (I fell down a well)

Cory Waring
>>104190060

Gun guys been saying this since way before crypto was a glimmer in their daddy’s eye.

Anonymous

Cool. I wonder if SBF and all that money and JP are all connected somehow to the Epstein case.

Anonymous

This is one of my favorite episodes ever...thank you for helping me to make sense of this stuff! Also, I highly recommend the new PBS doc "Age of Easy Money" (featuring an interview w/ Jacob Silverman)

Hudson

Caroline Ellison’s “double or nothing” strategy is better described through the Martingale method. It only works (without modification) in a game with 1:1 odds of winning:losing, and a payout of 1:1. You bet x, with x being a relatively small amount, and if you win, you win x on top of your wager as profit. If you lose, you then bet 2x so that you win back your wager and previous loss, for a net 0. If you lose at 2x, you then bet 4x to gain back your wager and the previous losses, etc. It works to mitigate losses if you win within your loss budget, but no events offer the 50% odds and 100% winnings that the Martingale method assumes. The house, whomever that may be, would never offer that. Long story short, I lost my casino winnings in a boating accident. And my casino losses are twice the value of the boat.

Hudson
>>127785873

It can be modified so that you always profit when/if you win, but it only increases the pot for each bet. So you’ll lose more when you lose to win more when you win. Just find a sucker willing to offer 1:1 payout for a heads/tails toss, and it might be tenable.