How The Fuck Did Jizz From "Outside Providence" Dupe The Entire Fucking Financial World Into Investing In FTX?

This fucking ZBF-FTT-FTX abbreviation dork is the absolute fucking WORST. Dave is right. It is infuriating that someone who is a complete FRAUD and was a fraud from Day 1 can be so unbothered by this situation where he lost all of these people millions upon millions of dollars. He is a grown up version of Jizz from Outside Providence. If you don't know that movie, well, you should find a way to watch it because it is a cult classic. I think I drafted it on dogwalk somewhere along the way. This should give you a taste

Just a major nerd. He's a good and generally likable character in the movie. Would I give that kid billions of dollars in investment without any sort of due diligence? Fuck no. And for that reason I think I am more mad at the professional investor class in some ways than I am at SBF. 

The criticism of these Silicon Valley VC firms has been negligence and laziness. Well, who amongst us hasn't done that? Having said that, if you're going to be lazy in a situation like this with millions of dollars on the line then just do it the old fashioned way. You have to judge a book by it's cover. Does this look like the face of a CEO you trust?

Absolutely fucking not. So when you have a face like that AND zero real collateral or oversight then maybe, just maybe, you shouldn't give that face money. If your gut says "that fucking face?" you should listen to you gut until the numbers make it undeniable that he is the right guy and is truly a savior of crypto and every other messianic label they gave him without any real homework. 

I don't know what is going on in the world, but we have entered an era where this is becoming far too common. Theranos, WeWork, and now FTX. All young, fraudulent, CEOs that shouldn't have been able to raise a single dollar and yet they all stole millions of dollars over YEARS from dozens of professional investors. It's fucking scary. The people writing the checks seem would rather be on the right side of a good story than the right side of the ledger. Drives me crazy. 

We talked about this SBF and the FTX Collapse with bitcoin zealot, Marty Bent, to get a better idea of how this actually happened and what it means for the future of crypto.