Sam Bankman-Fried and Elizabeth Holmes: Two Peas in a Pod

[@ladyeowyn42]

This channel is so full of wisdom. Underrated channel. Everybody comment for the algorithm.

[@WhiteCollarAdviceOfficial]

You’re kind. Thank you. Proudly pinning your comment!

[@janmac218]

I love this channel too. Really appreciate your comparison between Holmes and Bankman-Fried. If these are smart people then why didn't they read the Pew Research Report about Federal Court trials and plead guilty? The statistics of winning at trial are terrible. It's all there in black and white in the report. Thanks for the video. Another case is Charlie Jarvis. She's the one that scammed JP Morgan out of $176 Million bucks. All of these three folks think a like and all three have been on the cover of Forbes Billionaires under 30. You are so right.

[@storiesbybenjaminh.m.8461]

I once served as the president of student government at my college but got removed for lying to the executives and talking down to my colleagues. When we had a mock trial to determine my punishment I focused only on how it affected me and making by the books excuses for why I'm not guilty. I was expelled and after nearly 3 years of working many intensive jobs, learning from outside resources, and ultimately humbling myself as if to accept that I know nothing and anything other than remaining unable to complete my degree would be an absolute blessing- the institution finally gave me another chance to plead my case in front of a panel from another school in the same institution. I followed your advice Justin, and apologized to people who were no longer even there, emphasized just how much my actions negatively impacted everyone other than me, and gave a thorough and specific plan for how I'd like to continue should my expulsion be lifted. They had pity, and I am now on track to finally complete my degree in summer of this year. I don't feel bad for how much the bad choice set me back, I feel bad that the lesson couldn't have come earlier in my life.

[@germnursern]

Thank you for sharing your story

[@edlaccohee9173]

Wow, good for you, I'm super impressed (not judging or anything like that), really hope it goes well for tou

[@edlaccohee9173]

Nate's advice / quote was awesome, these KZbin moments trigger some very reflective and inward thinking. Thank you.

[@JasonWester]

I agree that defendants who show remorse should receive lighter sentences. I think that it's a tragedy that people receive harsher penalties for taking it to trial. On paper, every defendant has an absolute right to make the government convict them in front of a jury. That's only on paper unless things change.

[@ChrisHanlonnz]

Unexpected video from the feed. Definitely learned something. Great stuff.

[@WhiteCollarAdviceOfficial]

Thank you for watching.

[@germnursern]

If only people would listen to your wisdom. Thank you for sharing, being vulnerable, and showing us that goodness wins in the end 🙏🏽

[@WhiteCollarAdviceOfficial]

Thank you very much for your nice comment and for watching my videos. I appreciate it very much! I’ll keep doing my best to provide value…

[@davidhutchinson5233]

Thank you for this Justin. Very insightful. And that part about the US banking disaster. To see how a nation should respond people should look into how Iceland reacted. And I couldn't agree more, you either own it or on your own head be it.

[@mscotthowell1]

The takeaway from this video is if the well connected pay off the right politician that has the power to pass laws in their favor, there will be no negative consequences for them. This recent SVB taxpayer bailout where the well connected uninsured depositors were made whole without consequences is a great example of the corruption in the system. One of the few issues in Washington that has bipartisan support is bailing out the rich. That being said, the solution to this problem is for Congress to pass mandatory minimums for certain white collar crimes that cause great harm to the people, employees, and investors. It'll never happen since the well connected and rich have already bought off the bureaucrats and politicians.

[@vannahfrazier174]

Your referral to taking ownership for one’s bad decisions. The part of you stating there is dignity after pleading guilty. I’d like a copy of “Lessons from Prison.” Please and thank you. Once again, well done!

[@WhiteCollarAdviceOfficial]

Thank you for watching. Please email [e-mail] and we will send you copy of the book.

[@Meisha-san]

Wow! Thank you. I just stumbled upon this vid & am intent on exploring this channel. I found the wisdom valuable and the presentation relatable. I'm so happy to sub & support.

[@fitting7u]

Great insights Justin. Thank you 👍

[@WhiteCollarAdviceOfficial]

Thank you for watching.

[@tod3msn]

I played it on the straight and narrow but I don’t judge those who legally crossed the line. That said I really think Elizabeth Holmes being tossed in with SBF is unfair to her. She was a victim of her own press releases and media coverage because when her idea got stuck she panicked but SBF was from the start was in a dream world. He did not necessarily want to do wrong but rather just was completely involved in thinking he was this great talent when he was the opposite. SBF was a good “influencer” as they say today which is in reality a good salesman. SBF had an overinflated opinion of himself that did not match reality and combined with his sales skills lead him down the wrong path. Elizabeth was more sincere but when confronted with her idea at first failing had panicked but was not like SBF.

[@Skank_and_Gutterboy]

Just one problem with Holmes' defense that others were the problem: thousands and thousands and thousands of e-mails. She's counting on people not going through it due to the sheer volume of it. I'd like to go through that archive.

[@apollothirteen9236]

Why do rich people always get thrown under the bus by the justice system while the little people just get a small slap on the wrist?

[@greatplates7884]

😂

[@Michael-uy1tz]

Justin, I enjoy watching your videos for a different prospective on life. I also have seen a lot white collar criminals that have a lot of knowledge waste their time in prison for crimes they will be unable to do again. The system should be changed so that non-violent offenders stay 10% of their sentence in prison and the remainder of their sentence in communities far from their homes helping understaffed schools, care facilities etc. Pay minimum wage so they can support themselves and the remainder is used to reimburse victims. They can live in their own housing, but not allowed visits unless supervised by camera.

[@Louise-gg4mf]

Excellent! Any comments about his parents?

[@sdaiwepm]

You didn't mention how SBF's parents have enabled him since he was a small child, and continue do so. Also, SBF and EH appear to be classic narcissists - perhaps you and your friend Nate are not.

[@WhiteCollarAdviceOfficial]

In the video I filmed about Holmes character letters I discuss the enabling aspect. Nate is no narcissist.

[@sgirl1234]

malignant narcissists never admit their own failings.

[@Jack209]

You should talk about how Sunny Balwani managed to delay his surrender to federal prison today. I’m curious to hear your thoughts.

[@WhiteCollarAdviceOfficial]

Okay, can do.

[@sherzod4817]

When I had to surrender for my sentence, the worst part was awaiting it. I know when he's rich and powerful it may feel like he wants to keep up his lifestyle as long as possible, but it's in his interest to go in as soon as possible. I can say from experience that the days or weeks of time that this silly, likely fruitless appeal will buy him would be much better spent on the other side rebuilding his life. Right now he's probably feeling exactly like I did, hopeless and scared. Now add uncertainty because his surrender date is undetermined due to the appeal.

[@donnafromnyc]

Justin, what would be interesting is if you dug into Sunny Balwani and did a compare/contrast with Holmes. I believe that he knows that he did the wrong thing but he's not quite at the personal responsibility level.

[@govindagovindaji4662]

1:14 If one year ["as soon as I was processed in, I was processes out"] can seem to go by that fast, can you make them all~?

[@jeepmap1]

Great video

[@WhiteCollarAdviceOfficial]

Thank you.

[@Wacoal34d]

Stanford is the commonality...

[@lornarettig3215]

…and over-indulgent parents 😉

[@MrCapitalizer]

It's such a wicked system I can totally understand why the backlash over the years has completely upended it.

[@WhiteCollarAdviceOfficial]

It’s a wicked wretched system

[@trotskyite1]

Just remember in most other countries in the world you'd get a slap on the wrist for the same crime in America will get you 50-100yr sentences. No dignity to accepting sentences that go beyond human rights. Don't get me started on the extreme racism behind sentencing.

[@WhiteCollarAdviceOfficial]

I, too, don’t agree with the lengthy sentences.

[@sgirl1234]

He stole billions and diverted it to his personal accounts. He belongs in prison for many years.

[@donnafromnyc]

Playing kitchen psychiatrist here, I believe Holmes would crumble if she took responsibility for her actions. The most she has admitted (in her personal statement) is expressing sorrow to patients and investors for her failings (back to her again). Even Judge Davila (District Court judge) noted during her sentencing 'What is the pathology of fraud? Is it the inability to accept responsibility?" I can't see that she ever will, even when the doors of the Federal prison in Bryan TX close on her.

[@lornarettig3215]

Fully agree. She’s going to come out in 11 years exactly as bitter that everyone is no longer bowing to her genius as when she goes in.

[@lornarettig3215]

Nah - Elizabeth Holmes will be walking around that track crying bitter tears that she *still* couldn’t convince people she’d done nothing wrong. She won’t learn a thing and will come out just as self-righteous as she is just now.

[@WhiteCollarAdviceOfficial]

I see if differently. Prison, plus time to reflect, does wonders. It did for me at least.

[@janfilips3244]

More SBF pls

[@WhiteCollarAdviceOfficial]

Okay got one in the works

[@janfilips3244]

I actually too have some funds stuck on the FTX, nothing crazy about $10k@@WhiteCollarAdviceOfficialbut strangely I feel for the guy 😕

[@janfilips3244]

Genuiely I feel 50:50, not sure whether there really been bad intentions

[@govindagovindaji4662]

The thing w SBF, maybe one of the reasons he can't plead guilty is b/c then he would have to also incriminate his parents on some of the charges. He may still change his plea to guilty but really, I am uncertain how long they hold 'a deal' out for someone b/c even by now they have put in hours and hours of work (= money) in order to try him.

[@donnafromnyc]

Holmes has promised she will keep appealing until her fiance runs out of money. She will never take any responsibility. She will be in her 50s by the time she is out and her children will be estranged. Frankly. I don't know why she and Balwani didn't set up offshore accounts then hightail it to a country with no (or difficult, like France) extradition to the US.

[@WhiteCollarAdviceOfficial]

I explained why in video: she doesn’t think she did anything wrong. Why, then, would she run?

[@donnafromnyc]

@@WhiteCollarAdviceOfficial I agree with you! (I'm a writer in health tech and have been following the rise and fall of Theranos since the mid 2010s). However even with narcissists it can dawn on them that even though they are 'right' they are being persecuted by higher powers, and thus they flee. Holmes, unlike SBF, had years of legal back and forth after the company shutdown to come to that conclusion (interrupted by the pandemic). Her prosecution has made a great deal of a one-way ticket she purchased for Mexico for travel after the verdict, ostensibly for a friend's wedding. Her defense argues that she was sure she'd be acquitted instead of being convicted on 4 of 11 charges! One wonders if it finally occurred to her to run, though she had no passport.

[@ultratestosterone2983]

The judge just ruled Elizabeth Holmes needs to be in jail while her appeal goes through. I think she is going to be doing about a decade in federal prison shortly Wonder if they can go after her for restitution considering she is married to a rich dude.

[@brucespurier7535]

Great news! Justice finally comes for Elizabeth. I doubt even her husband has enough to pay all that she could be told to pay her victims! I'm just glad she will get that whole decade in. I had guessed she would get a year or two.

[@govindagovindaji4662]

2:48 "Defense Atty Agenda: "to bill and take to trial" yet then you're surprised "never go to trial nor do they win" ~ these two understandings of defense attorneys contradict one another, don' t they~?

[@mrwilliamwonder]

In the past, you used to be judged on how honest you were. Now you’re judged on how good of a liar you are that’s how society has changed the last 50 years.

[@danlizotte-y5n]

This Guy does a great job he right you can not win

[@starwarscharlie]

It seems to be that both Elizabeth Holmes and also SBF , both of their parents could be the breeding ground of how they become who they are now. Both their parents must have felt super privileged or highly entitled in this world that they and their son/daughter can do no wrong. They probably felt like their "intellectual" connections and titles could have bought their way out and cheat the system to go their way.

[@davidbichelmeyer4535]

Oh mister take responsibility here. No I don't think so.

[@frankbooth5150]

Embrace reality . Beautiful.

[@WhiteCollarAdviceOfficial]

Not always easy but vital.

[@chrissheppard5068]

SBF will continue to plead his Sgt Schulze defence. He will get 30 plus years maybe 50 plus. If he were to be humble and admit what he did he could get less but his type never admit or even believe they did anything wrong just getting caught was the "bummer".

[@stutzbearcat5624]

5K1 ... ?

[@rddavies]

I don't know how striking the actual physical resemblance is but somehow you remind me of Sandy Koufax. Not bad company to keep.

[@live_in_thejoy]

His parents are just as guilty!

[@smplyizzy]

Bankman dude will get a deal. Mark my words! If he makes a deal and talks he will be killed. He has to ride this out.

[@ed1019-h8o]

Thus far based on Judge Lewis Kaplan's statements inc. “This defendant (SBF) has given some pretty strong reasons to be suspicious,” Kaplan said. This statement of Kaplans is in regards to increasing bail conditions re: use of tech devices. Other comments he has made indicate he thinks SBF is not a reliable, inconsistent and disingenious meaning essentially he doesn't trust his word. Based on evidence thus far I don't either. Innocent until proven guilty but the defense must have shown Judge Lewis some convincing evidence thus far. Likely guility on several counts and long term jail sentence.

[@mgt1429]

SBF is probably sitting in his room playing League of Legends.

[@saxmonicamusic6727]

Hardest thing is to stand up and publicly say Im guilty, But if you do then it all moves quickly. Prison is largely about accepting your guilt so if 12 people have to make that decision for you it means you haven't accepted your guilt. Come parole time the board have to decide if you have accepted your guilt. and more than likely they won't give you a pass on your first parole. If you are guilty and you accept it then a lot of respect comes from that in all areas and like this guy says you can start rebuilding from there. Ive watch a lot of these cases and the white collar boys boys tend to be gutless parasites and that's pretty obvious from the nature of their crimes so they go to trial on seriously bad advice from expensive lawyers and get full sentences , miss their first parole and get completely disrespected inside which leads to a hard miserable time. The hierarchy inside seems to be that the white collar boys are down with the kiddy fidlers. Zero respect , basic scum inside so if you know you are guilty plead as soon as possible and start building up from there. But the SBF s of this world can't look at themselves and realize this. You hear it in the stories they tell the world. They all think that some hot shot lawyer is gonna get them out on a technicality. It dosnt happen like the movies. Eventually you realize you are just a number with no personalty in a system that operates pretty well and that no one really gives a toss about you. In SBFs case I get the feeling his parents are gonna desert him as well. What kind of parents would have blown that much on real estate and been part of the whole scam. Shows where their moral compass lies so Sammy boy You are on your own. Move in the right direction. Tell your lawyer to F O and balls up ,take what's coming but get as many discounts that you can.

[@mikechevreaux7607]

SBF Out On $250. Million Bail.

[@mikechevreaux7607]

Lizzie Borden Holmes Fully Playing ALL her Woman Cards 🃏

[@tod3msn]

The problem is that Sam and Elizabeth are smarter than you and I. They are people who have always excelled in life and have been told of their brilliance. Most people commenting here have never been the brightest in their class or have intellectual skills of Sam and Elizabeth. What happened was Sam and Elizabeth never were grateful for their gifts and took their being a cut above the rest that when they failed they did not react in humility but instead they doubled down on making a bad situation worse. Have an attitude of gratitude and also be humble. You will never go wrong.

[@lornarettig3215]

Speak for yourself! Both come across to me as simply having the misplaced confidence of people of privilege who have failed upwards with no consequence. Neither strike me as an intellectual heavyweight. Sincerely, Someone who was the brightest in their class and has excelled in life 😉

[@EtherealAriel]

Neither are the genius' they were purported to be.

[@WhiteCollarAdviceOfficial]

Maybe. But both were raised to know right from wrong, as I was.

[@chairmankim9628]

Holmes got a way too low sentence.

[@DannyBrooks1]

Sam should for get about everything outside because I think he will be in for life.

[@ryanehlis426]

I think 🤔 all the democrats who where taking millions $ from SBF should be in prison

[@TemplarX2]

Are you Jewish?

[@WhiteCollarAdviceOfficial]

Why do you ask?

[@danbaron2561]

Were you in Alcatraz, or Leavenworth? 🥲 (To me, Sam and Elizabeth don't care about the people they have destroyed - psychopaths?)