Michael Lewis on Cryptocurrency and the FTX Empire | Masters in Business

Bloomberg Radio host Barry Ritholtz speaks to Michael Lewis, whose latest book is "Going Infinite: The Rise and Fall of a New Tycoon," on FTX founder Sam Bankman-Fried. He takes readers into the mind of Bankman-Fried, whose rise and fall offers an education in high-frequency trading, cryptocurrencies, philanthropy, bankruptcy and the justice system.
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Bloomberg Radio host columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business.
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[@Stutterstun]

Why finish the book when the trial was ending in a weeks. So you wrote your " narrative " before the facts and verdict are released.

[@UnknownPascal-sc2nk]

Simon & Shuster publishes his books

[@ErikaPfeiffer-rm7fk]

When it comes to large numbers... There are over $83B lying around somewhere unregulated transferred into Tether and nobody knows really if they are still backed or not. And even if (best case scenario) this company makes over $4B just for keeping them 'safe'. Maybe SBF was just in the wrong business

[@manuxaviour5622]

tell me more about it

[@qdlaty23]

Lewis used to be one of my favourite writers but I had to do a 180 after his insane defence of SBF It was hard to watch and made me question the accuracy of every single book of his that I had read. Never reading anything of his ever again. What a joke.

[@TheDavidlloydjones]

I wouldn't cut Michael off, but I think this is his worst book. My impression is that he was caught by surprise by the collapse of FTX and SBF's impending arrest, and he had to rush to put something together or see his past year go to waste. So this is the artificial result, not the book he would have written, given another year of normality, perhaps even with a slowly emergin investigation by the real world...

[@qdlaty23]

@@TheDavidlloydjones my thoughts exactly but it doesn't make it any better. He sacrificed integrity for money.

[@tiararoxeanne1318]

This could be a good interview if only the moderator wasn't cutting the guest too much! I understand the need to cut if the conversation seemingly went off the rail, but it was not the case here. The cuts happenned because the host wanted to say 'clever' statements that the guest would say anyways. The host seemed eager to appear smarter than the guest. Well, he did not. His cuts didn't add values to the conversation and were just annoying👿

[@TheDavidlloydjones]

Welcome to KZbin.

[@Louise-gg4mf]

I disagree with his take on SBF.

[@davidfoss4836]

Enron 2.0, the very worst that SBF faces is having to pay for a presidential pardon from Trump. We have already seen what befell the Enron sounder. After an extensive public humanizing event, the Host population will have to watch criminal justice reform at its worst. Remember that besmirched institutions, Stanford and MIT, have just been exhibited pinching off foul putrid Caroline and SBF as their ultimate product. Stanford and MIT are peopled by Parents of this excrement, acting as mentors but behaving even worse.

[@TheDavidlloydjones]

Um. Yes? And...

[@tourist9862]

This guy is a SBF apologist.

[@Praisethesunson]

He's a ghoul trying to sell a product. *After* the trial is done, someone who pays Lewis will get to ask him that and get the answer.

[@markharmon3020]

In my opinion, SBF isn't on the autism spectrum he's just a Sociopath with math skills

[@tourist9862]

How do you not have an opinion on whether he's guilty or not ... how does someone have ZERO moral compass like that.

[@Praisethesunson]

Lol Capitalism is how. Lewis is one of the ghoulish husk the profit motive depends on. Lewis is Scavenging the evils of capitalism to make himself wealthy. This guy was at wall street. He saw how the surplus created from labor like yours is extracted.

[@sandworm9528]

Well, it does seem like it's ambiguous. The guy had zero organizational controls so it's possible he didn't intend on scamming people, and just felt like he was above the law. He's definitely guilty of financial crimes, the book makes that clear

[@Praisethesunson]

@@sandworm9528 he admitted to scamming people on a podcast. That coffeezilla guy has an episode on it.

[@evelynramos445]

From NY Times?

[@UnknownPascal-sc2nk]

Simon and Schuster publish his books.

[@danielosullivan2677]

Terrible take

[@evelynramos445]

I find academia far more

[@EtherealAriel]

Far more WHAT? 😂

[@TheDavidlloydjones]

@@EtherealAriel You don't think that was Evelyn's point?