The Institutional Investors Who Lost With FTX
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- Опубликовано: 22 ноя 2022
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Since its launch in 2019, FTX has raised $1.8bn and was most recently valued at $32bn. Among its shareholders are some of the world’s most-respected hedge fund managers and Venture Capitalists.
Now with FTX having filed for bankruptcy, their investments look to be a complete wipeout. Investors including Sequoia, SoftBank and Paradigm, which was co-founded by former Sequoia partner Matt Huang, have marked their holdings in the company to zero, vaporising hundreds of millions of dollars in value.
FTX’s list of investors spans powerful and well-known investment firms: NEA, IVP, Iconiq Capital, Third Point Ventures, Tiger Global, Altimeter Capital Management, Lux Capital, Mayfield, Insight Partners, Sequoia Capital, SoftBank, Lightspeed Venture Partners, Ribbit Capital, Temasek Holdings, BlackRock and Thoma Bravo.
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brilliant. thanks
I know you aren't trying to be a comedy channel. I'm just blown away at the large assortment of obviously ludicrous red flags so many institutional investors and high street firms missed or ignored.
I know you’re an educational/news channel. I don’t think people are being truthful about your video being a comedy. It could be done as a form of damage control for FTX and SBF where people would discuss your video
here's the real question, where can i get that stonks figurine in the lower right hand corner?
Let's buy some bananas and share them with the Monkeys. Sequoia are a bunch of either Bananas or Monkeys. Great work Patrick! Getting better all the time. 😅
I spoke to an insider at Sequoia and one of the ways they are tightening internal controls is to require all future portfolio companies to be headed by at least one executive with Diamond or higher rank in League of Legends.
Thank God somebody has the balls to introduce the regulation we need.
Possibly a new division as well, dedicated to analyzing the clothes the founder wears and the cars he drives.
Diamond hands, diamond hands...
😂😂😂😂😂
@@mikesoro5052 People underestimate the significance of the length of the founder's shorts.
“It wasn’t just sophisticated investors who put their money in either, Kevin o Leary invested too” 😂
I don't know how Kevin o Leary still has money left with his recent investment picks, it wasn't no more then 9 months ago he was on CNBC stating his bullish case for Facebook after it took its major drop from bad earnings and he said he was buying up the dip and since then Facebook has steadily declined.
how did jim cramer miss out on the tulips?
@@BUSI_88 I bet he has 95% in an index fund and just throws his weight around with the rest
That cracked me up, I knew there was going to be a top comment quoting that lol!
So good 😂😂😂😂
Sam believed, "...everyone in the financial world were idiots." Well, he was right and ultimately proven on that score.
they'll never get back all the money they gave to sam out of greed , that's why he is right that they are idiots
Not everyone. Warren Buffett was still based.
Meanwhile SBF is imprisoned now and for most of his adult life and the financial "idiots" brushed themselves off, moved on, and still enjoying their privileged lives.
@@factorfitness3713Buffett has repeatedly said he doesn’t invest in companies he doesn’t understand. That’s one thing that annoys me about the crypto community, they’ll mock people for not investing because they don’t understand the tech, but _that’s the correct response._
Sure, learn more if you’re on the fence, but there’s plenty of time for that. If someone had invested in Microsoft in 2015, _twenty years_ after Windows became a household name, they’d be up 500% or more.
"They somehow got confused that a co-working space with a beer tap was a technology startup."
I'm dead
Just a casual drive by shooting of WeWork in the middle of an SBF video. Brilliant.
Patrick: "I'm not funny, this stuff is not funny"
Also Patrick: "It wasn't just sophisticated who put their money in either, Kevin O'Leary invested too."
Wonderful
It's not funny, it's true. Kevin O'Leary is not even sophisticated enough to put on pants.
Fuck you.
That was better than it had any right to be.
In defining the market cap "It's not just people either, monkeys like bananas" I might have to get a t-shirt with that one.
I started watching this channel to escape sensationalism, but humor is appropriate here because FTX is itself a joke.
If it wasn't for the "smart" executives at Mattel, we wouldn't have to put up with Kevin.
The executives at Mattel would have invested in FTX too.
..... and no "pass the banana" references.
got it.
The fact that some people can't tell if Patrick is being serious or not is somehow the funniest part 😂
Whatever you call it, i like his style
The whole world is a parody.
@@williamhaynes7089 i'd say its a type of dry humor. Seriously humorous....Humorously serious.
He was being serious. Didn't you hear him? No jokes in this video.
@@josephdouglas5242 The monkeys buying bananas with bitcoin? Totally serious.
Patrick is truly one of the best presenters on RUclips. Not dumbed down but understandable content, clear presentation, and still injects humor to keep you engaged. Can’t believe I didn’t find this channel sooner
also his beard is nice
It’s not funny
@@colemantrebor1610 ...to you
That opening two minutes was like the Financial RUclipsr version of the Monthy Python "Biggus Dickus" scene.
@@colemantrebor1610 Deadpan humor is not for everyone. I, for one, am here for it
Speaking as a Singaporean, I am truly appalled that Temasek seemed not to have done any due diligence on this steaming pile of sh*t ! And Temasek are supposed to be staffed by the keenest and most brilliant financial minds in our country. God help us all.
Take heart, there's plenty of these "brilliant financial minds" everywhere in the world. Singapore is not alone in its suffering...
Eh, if its any condolence the "keenest and most brilliant financial minds" of everyone else didnt fare any better.
Everybody should move to Sydney and pray to the gods of Anglosphere!! Hahhahahhahaha
You put too much trust in your "most brilliant financial minds"
Regulators always always never not lose to bullshitters turning wank to cash
"it wasn't just intelligent investors that invested. Kevin o'leary invested also."
This guy is THE BEST
I had a start face until he dropped this one. it catch me off guard.
He said sophisticated not intelligent so not quite so harsh.
I caught that joke hidden in the many others. Best comedy channel out there!
There is always a strange amount of financial information in Patrick's comedy skits
i`m suspicious he may know something about finance
😆
The comedy writes itself.
@@PhD.NickRiviera EXACTLY!!! LOL
I'm not sure if i should be more personally insulted or take it as a badge of honor that Sequoia and Lightspeed declined to invest in my humble startup.
Yes
Get a list of capital firms who invested in FTX so you can remove them from your capital wishlist in the future.
Learn from your mistakes! Get a messy hairstyle and play videogames at meetings!
The Dutch tulip bubble of the 17th century made more sense than the FTX bubble.
Atleast in the Tulip mania after the market collapsed there were nice flowers left. With this is nothing, other than some real estate assets purchased with stolen funds which won't be anywhere near the amount lost.
“This is a serious video. And if you don’t think so, you just don’t understand how things work in Silicon Valley and that is your fault not mine” Patrick you are a gem!! 😂
Gold statement how true 😆
you dont invest money you cant waste.
@@Wulfcry what is that first emoji
To be fair it's become less about monkees but rather the Apes.
I'm fricken rolling on the floor 🤣
Patrick's dressed like he's attending a funeral - not sure if its for institutional investors or comedy on his channel. Nonetheless, thank you Patrick for taking this all seriously and explaining things in terms of bananas so we could better understand the situation.👍
You really could learn a thing or two from mr. Boyle. Naming your finance-related channel "The Plain Bagel" and having a plain bagel as your profile picture is very unprofessional. Flippant, even. It shows disrespect to the viewers. When I first came across your channel I was very disappointed indeed that it contained no breakfast-related content whatsoever.
@@zlosliwa_menda could be worse. Dr Grande has a plastic small cactus.
I am usually sceptical of anyone telling me that their business will be everything to everyone.
FTX is one of those rare events where the bigger the fallout the better for society, because every single person who is negatively affected by it had it coming.
It's been a rough week at work but this made me burst out in seriousness. This was the most serious entertainment I had in a while, just gold. If Patrick started an FTX-like scam, I might go broke.
He used to be a hedgefund manager, so if you had enough, you probably could've lost plenty with him back in the day.
@@buildmotosykletist1987 lol
If only Patrick could get his League of Legends ranking up, then we could actually take anything he says seriously.
seriously
the dryness and peak delivery is unmatched
I am absolutely taken aback by the fact that "throw mountains of cash at literally every project that comes your way" is somehow a viable business model for these firms.
Something something capitalism
Those VC firms come across as stupid but they are not. 🤣 Throwing other people’s money at projects is how they make money. Some VC firms charge their clients up to 10% a year for investing their money. How much is 10% of a billion a year?
It's how Masayoshi made his money from the Dotcom bubble. Everything was a loser for him other than Alibaba.
that's how crypto works during the bullrun
Not just VCs, look at Google. How many monumental and nonsensical failures has this company had? The only successes that they have were purchased from independent companies like RUclips and Android.
Your free financial education and reporting is wonderful and much appreciated. I love your dry humor. None of it makes me take you less seriously. Thank you for your good work.
Your start to this YT makes a great point. I worked for an infamously bankrupt company and when smirks came out from people, I reminded them that actual humans worked there and lost their future. We ridicule, justly, the likes of FTX and its adherents but only as an example of people falling in love with blank or false narratives. Whether it was Idiot Savanterie, SBF's apparent faith in Effective Altruism, democrat election investment sympathies, or just greed, paid SBF FTX pundits ignored their own smell tests to waft in victim investors, who are only guilty of suspending disbelief.
Patrick, not only do you explain it simply, you also illustrate how absurd all of this is, and you do it in a entertaining way to boot.
keep being awesome!
Listening to SBF speak, it's a wonder anyone invested in his business. He's such an unlikable character, he talks for hours using analogies and doesn't say anything of substance and if someone puts a serious question to him he calls them an idiot in a diplomatic way. It's so bad
And the dedicated avoidance to any humour in his delivery ensures that I am not distracted and remain focused on the topic.
Entertaining? Your bananas! This is a serious video!
@@BillClinton228 Hindsight is 20/20
@@BillClinton228 yeah, he really seems like a character straight out of Mike Judge's show Silicon Valley.
Patrick straight-up roasting us throughout the entire video 🤣
Na, a straight face of a different sarcastic humour.
He's cereal y'all, super cereal!
As a fellow Irishman I am proud of your contribution to youtube and the world at large. Keep up the great work Pat. 👍
might be the funniest irishman on youtube :D
Patrick, I have just started listening to your videos literally 3 days ago. I respect your content and intent and treat them seriously. What I like about your videos is that your method of delivery and dry wit ensures the key messages are taken on board in a way that for me guarantees retention. Well done Sir.
Patrick we know you're not a comedy channel, but it often feels that way when the whole financial system's gone bananas!
Patrick can be serious and make us laugh for bit
If you think banana procurement is funny you haven't seen Guatemala
Rotten bananas give you banana bread but rotten financiers simply lose the bread
G'dmn lucky that it wasn't plantains! It could've been worse. Quit G'dmn laughing already!
I think it’s always been a joke, we just now have the means to find out
I’m not sure how anyone who got involved with FTX can seriously say they did any form of due diligence. Sequoia team were impressed SBF spent their entire pitch meeting playing videogames 😂 sounded like an episode of The Office
These people are hand-picked, like Lee Harvey Oswald, FTX was set up by the establishment to take down CRYPTO the ridiculous business practices were designed to be a nightmare for investigators, it's too cute it's too perfect for hiding their actions. another sign this is an establishment job is how mainstream media is portraying the team as a silly group of friends who got in over their heads it is so fake, why aren't they screaming for blood.
Imagine yourself as a partner in Sequoia and SBF makes his pitch and you say "No." While the "valuation" goes up the next day. You wont be a partner the next day.
@@xrunner55 always a danger eh? But sometimes you gotta go with your gut. Hard to do with that kinda corporate pressure. Never been there so I don't know that particular kind of pressure.
Sam Bankman Freid stole everyone's money... and now the Jew is laughing at you...
I am guessing Seqouia and every other investor was counting on SBF's parents and *their* connections, to survive no matter what. None of them realised FTX was such a clusterf@#k that not even good connections could've saved them from a ponzi scheme of this scale.
The sad part is that we are not investing in producing ”value” we are in investing in producing ” more profits” and think the two overlap perfectly, and then we ask ourselves why we failed.
Yeah! 'Course, it's hard to quantify value, when deciding what to invest in, and everyone's definition will differ... hmm... _Maybe_ we should invent a way to track the "value" an entity produces?
Like, maybe some sort of fungible token we can give to entities that provide some sort of value for us? _And_ it could also be exchanged for concrete valuables, like food or cars, so companies will *want* the tokens.
That way everyone is incentivized to produce value, and everyone can "vote" for their own judgment of "value". The more of these tokens a business obtains, the more people found value in it. THAT is what we should be investing in, you're 100% right! ✊
...But what should we call it when a company returns lots of these tokens (thus showing how much value they're creating)?
Progget? Tuggit? Foprit? _Proddit?!_ I just can't think of a good term.
@@Kveldred The sarcasm is nice, but it misses the point. When the measure becomes the target, it ceases to be a good measure.
@@user-ne4ld3jp6i Without rancor: reading the message behind my initial comment as "lol sarcasm" *is,* truly, missing the point.
The sarcasm only works because the comment _does,_ in fact, point out how the premise ("let's aim at producing value") leads naturally to the same concept OP was attempting to criticize. I.e., the comment provides the outline of an argument for profit being one of the best measures of value heretofore devised.
(Conversely, someone who proffers _"but what if everyone just agreed upon and did the right and best thing without need for any proxy?"_ as a useful and important "analysis" is probably not possessed of any actual insight - but they certainly seem to *think* they do, often.)
If I went a little hard on the sarcasm, well... I just become weary of OP's brand of facile and unconstructive "criticism". It's like some people never left the "stoned teenager" phase of their mentation.
So - *profit* and *value* aren't synonymous, no; but _"gosh if only people wanted to produce value... the problem is profit, that thing totally unrelated to value!"_ ...is the idea of a simpleton.
@@user-ne4ld3jp6i Reading the message behind my initial comment as "lol sarcasm" is missing the point! (And I say this as the point-crafter for that comment, so, y'know, I'd know.)
The sarcasm only works because the comment _does,_ in fact, point out how the premise ("let's aim at producing value") leads naturally to the same concept OP was attempting to criticize. I.e., the comment provides the outline of an argument for profit being one of the best measures of value yet devised.
If I went sort of heavy on the sarcasm, well, forgive my weakness, please; this brand of facile and unconstructive "criticism" (beloved of teenagers and the really high) is just... wearing. Someone who proffers _"but what if everyone just agreed upon and did the right and best thing without need for any proxy?"_ as a useful and important "analysis" is probably not possessed of any actual insight...
...but they'll offer their best facsimile anyway, you can be sure!
So, in any case - *profit* and *value* aren't synonymous, no; but _"gosh if only people wanted to produce value... the problem is profit, that thing totally unrelated to value!"_ ...is the idea of a sîmpletøn.
@@user-ne4ld3jp6i Reading the message behind my initial comment as "lol sarcasm" is missing the point! (And I say this as the point-crafter for that comment, so, y'know, I'd know.)
The sarcasm only works because the comment _does,_ in fact, point out how the premise ("let's aim at producing value") leads naturally to the same concept OP was attempting to criticize. I.e., the comment provides the outline of an argument for profit being one of the best measures of value yet devised.
If I went sort of heavy on the sarcasm, well, please forgive my weakness; this brand of facile and unconstructive "criticism" (beloved of the 13-18 and the "really high" demos) is just... wearing. Someone who proffers _"but what if everyone just agreed upon and did the right and best thing without need for any prxy?"_ as a useful and important "analysis" is probably not possessed of any actual insight...
...but they'll offer their best facsimile anyway, you can be sure!
No, the subject matter is no joke. You explain serious issues and sometimes goings-on that would otherwise make us want to cry. It takes talent to do that while making us chuckle.
"In Silicon Valley, online crypto currency trading and banana procurement are the kind of problems that still need to be solved." Patrick hitting it out of the park yet again.
I really loved the first 0:00 - 1:20 being very serious and then Patrick doing the thing we always expect from him xD
Yes, because they smuggle cocain in the banana containers :D
In all seriousness, this video was posted within the last two hours and I'm already seeing closed captions in 14 different languages. Is that you Patrick (if so, bravo) or are the subscribers that diverse, loyal, and translating a 17 minute video that quickly?
I try to get subtitles out right away.
@@PBoyle Being versed in 14 languages is pretty incredible.
@@PBoyle thank you very much for it
@@PBoyle you know 14 languages? Thank you for your show. Very educational. ☺️
Of course he knows 14 languages, he also knows how to make banana cake
This is a fantastic channel. Thank you for all you're doing to explain complex financial situations.
the style with which you hand out sizeable amounts of shade in your videos is just amazing. love it!
I sincerely apologize for making light of this situation in the comments of your last video. Hopefully, no monkeys were severely financially impacted by the collapse of FTX.
A classy apology. I can't see how Patrick won't accept your genuine contrition.
My monkey lost it's 🍌 fund
There were likely more than a few apes
@@retroatx I'm sorry to hear that. Hopefully the market will rally soon and he can start making back what he lost.
The investors all turned out to be monkees. That's the whole point of the video. Exposing the monkees who lost out.
Patrick you have a gift of humor when explaining finance things. Thats why we laugh and we watch you.
stop snickering. he said no snickering this week.
I agree… He cracks me up without even trying
@@whattowatchrightnow I like banana bread.
humor? bro, this isn't funny, weren't you listening?
repeat. this is NOT FUNNY
lmao
I love your dry humor. Thanks for delivering content that goes beyond what other videos delve into. I always learn something new from your videos!
As always great content Patrick.👍
Can’t wait to hear the extensive due diligence. The institutional experts went through.
Oh sorry, they thought it was Dew diligence, and drawn a Mt. Dew instead.
I love this comment xD RIP the illusion of large finance having their sh*t together... again
When there's so much cash flying around, there's no time for due dilligence
"I love this kid, he plays video games during important meetings with us, he must be real smart, give him all the money"
Tbf he was killing it on League of Legends
Hey Patrick, visualize this: A super app that auto-generates business cases from an AI fed by past pitches to Softbank from failed business ventures and a dictionary of updated technology buzzwords like 'crypto' and 'blockchain' and then prepares sloppy PowerPoint presentations made to look like they're prepared by college kids. Based on the business case theme, the super app then posts job ads on the most related reddit boards to hire the 'executives' that will then pitch those presentations to VCs. The super app will be funded by a ICO tokens with the promise that the tokens will be bought back at a higher price once the businesses eventually materialize. What could go wrong?
lol dang that's very clever
What could go wrong? You leaking a trillion dollar idea. You were so close to becoming sams neighbour in bahamas
credit suisse wants in
update the mainframes. the use of powerpoints has been discontinued. the new term is "sales documents". this probably applies to excel spreadsheets too.
The Germans want in. They are always excited to invest in anything that looks colorful. Preferably with the pension / public funds they manage.
I see both the humor and serious message in all your videos and the delivery is perfect.
Your presentation style is very good and I enjoy it ..packed with wisdom. Thank you keep em coming Patrick
The finance comedy on this channel is great. love it, always entertaining!
Patrick is the funniest financial RUclipsr on the platform.
I don’t see it. He never laughs at his own jokes so how am I supposed to know if he is trying to be funny?
@@K1RTBsultry wood elves? Seriously how can you not laugh at that 😂
@@K1RTB he means to be funny. He’s just so straight about it, it makes it even better.
As a German i appreciate . Das ist lustig
Didn't you hear him? He's not being funny. This is serious business about serious people who seriously need their bananas. I used to live in Silicon Valley, but I had to move out when I realized there was no app which could provide the banana IV drip all people in the valley require.
Summarised content beautifully delivered, factual, opined with a mighty dry sense of humour, and always appreciated.
I love your dry style and explanations. Keep up the good work!
So Sam banked on mom and dad's good name. And the VC's (pronounced "easy targets") used relations as due diligence. Morale of the story: if you get introduced to the right people you can scam them.
It’s the joys of being part of an old boys network. Or: having seven ticks / check marks (see Joris Luyendijk).
The whole world is a scam
i prefer Sam Bankrun-Fraud
Uncle Steve mom was in the board of directors of IBM, Elizbeth dad was a big shot at Enron. The apple doesn't fall far from the tree.
These people are hand-picked, like Lee Harvey Oswald, FTX was set up by the establishment to take down CRYPTO the ridiculous business practices were designed to be a nightmare for investigators, it's too cute it's too perfect for hiding their actions. another sign this is an establishment job is how mainstream media is portraying the team as a silly group of friends who got in over their heads it is so fake, why aren't they screaming for blood.
Patrick, please don't take the comments addressing humour as a conflagration of your intentions. It's simply an appreciation of the crazy situation, the tactful delivery you have, and the relatability of that delivery. We appreciate you! Learning about anything is better done with a smile. Thanks for the wonderful content.
W comment
I think he was making a joke here too. His very dry humor is very hard to differentiate joke from seriousness lol.
wooo~~~~~~~oosh!
Oh bless your heart...
He's feigning seriousness and displeasure with his viewers' supposed immaturity for comedic purposes. Note that he follows his assertions of the seriousness of the situation with even more sarcasm and jokes at the expense of the gullible investors who should've known better.
And now the frog is dead.
Your videos are well researched and relevant. Great job. 👍🏻
I've enjoyed and learned so much from you since discovering this channel a short time ago. This is the only video, which puzzles me. So I am viewing it a second time. If you want to avoid being perceived as humorous and witty, then why is the content so humorous and witty? Even while you are asserting there is no joke intended, the visuals, the inflection and the content are a comedic delight. No comparison is perfect, but lemme try this: Years ago I asked a gorgeous lady friend to be my dance partner at a series of dance lessons. "I have no romantic interest in the gal," I told an elderly friend. He called me crazy. "You are plucking the strings, but you don't want to hear the music!" He was proven correct. I humbly submit that this is kind of what we have here. Still, you da' best, Mr. Boyle!
“Now of course while people do make $8 billion mistakes all the time, it’s likely that we’re instead looking at a huge fraud.”
How he says this without bursting out in laughter shows Patrick Boyle is a man with tremendous self-discipline!🤣
Only make huge mistakes, never small mistakes.
The bigger the lie, the less we ask why.....
Exactly! Patrick is showing so much respect for his audience that he never laughs at his own jokes, he lets the audience to judge the quality of his message.
Timestamp please
@@cold_jay would you settle for a regular postage stamp?
It's amazing how so many venture capital firms are unwilling to apply even the most basic "Would you buy a used car from this man?" test.
VC: but he has a Corolla!!!! 😂😂😂
Well his name is BANK MAN. He MUST know what to do with money. Right?!?!🤯
@@largebills337 This Bankman is Fried.
These Vc firms are run by blustering idiots of the same caliber as our genius politicians
The problem is that they simply have way too much wealth to the point where it’s play money. From what I’ve observed, very few VCs are savvy investors, and simply throw a bunch of money at the wall until something sticks.
You are an absolute genius! Keep the great work coming!
Undoubtedly the most in-depth content I have seen this week re: banana procurement. Thank you, Patrick!
Considering how much money Softbank has been losing and all the shady connections it has, I wonder if Masayoshi Son is worried about being put on the Yakuza or Saudi royal family's hit list.
It's an investment bank. They invest in everything.
@@samsonsoturian6013 their losses are close to wiping out their historical gains. They may be an investment bank but a lot of their investors are not very nice people who can make bad things happen to anyone who disappoints them.
@@KingOfMadCows you don't know that. They own hundreds of illiquid ventures
Masayoshi Son shouldn't worry about Saudi royal family. It is okay to lose their money. Just don't threaten their power. Because the Saudis can always get more money, but they can't get back their power if they lose it.
Anything negative Mr. Son says about his last couple of fiascos may be construed as being anti-semantic or somethin'. 🫣
I'm putting together a very bad power point right now for a company that will make an app that allows users to trade in Dutch tulip bulbs. Tulips have been down for quite some time and are well overdue for their big comeback. I'm also pretty good at Angry Birds.
Take my money!!!
Shut up and take my money!
I'm Dutch and I'll sell you mine for a bag of dogecoin.
Funny that, I was going to re-start the French Mississippi Company and sell Real Estate in the New World, can we combine Tulips with my scam............ magnificent investing opportunity?
@@Lonovavir Depends. Do tulips grow well in Louisiana?
I appreciate you discription of the FTX debacle. I'll be watching more of your videos on financial topics now that I've found you.
Having a crap day, come to watch Patrick to cheer myself up. Thanks mate, job well done.
I love you Patrick! I came for the financial analysis and stayed for the dry humor. I try to explain your comedy to my wife but she usually gets bored midway through so I think there’s some real info in there. Lol love the content!
He reminds me a bit of Andy Rooney from 60 minutes, but even drier.
Reminds me of Bob Newhart back when he did dry deadpan comedy.
British comedy
My husband watches no RUclips (I watch a ton) but several times he’s walked through the room while Patrick is on and says “does this guy know he’s funny?” Or “He really hides his jokes.” Yes. Yes he does. To both.
The real problem with SBF is that his vision was actually too limited. What about people who don’t like bananas, or fruit in general? If he expanded his pitch to include other foods he might not be in his current situation. For example, including carrots would allow him to add rabbits as users of FTX
Hard agree - I personally would've been much more easily duped into it if he had offered up strawberries myself - I'm not a terribly big banana guy, and I credit that to my successful avoidance of FTX.
The slide from his PP presentation at 12:39 is pure gold, god bless you Patrick
Great vid my man. Don't worry it is your use of sarcasm while teaching that helps myself and a lot of persons remember what you said. Your "humor" illustrates and emphasizes missteps. Thank you. I am glad I stumbled on this channel
Why do you think he would be worried? It’s one of his biggest strengths. Oh you took one of his sarcastic comment seriously, I bet.
You would have simultaneously been my favorite professor and the professor whose wit I feared the most. I appreciate your work, Patrick!
@Joey Garza I stand for nothing except integrity. Besides, I don't need someone to like me in order to respect them.
I recently watched a talk with Cathie of ARK , Elon, Dorsey and concluded that sequoia capital is not alone. Watching Cathy was like a bot that would fail a Turing test in five minutes.
ARK is now renamed TITANIC.
I watch that talk almost everyday, from many different channels, and have concluded that this is accurate.
Hey I subscribed. Many thanks for explaining this really confusing and complicated financial systems.
"It wasn't just sophisticated investors who put their money in either, Kevin O'Leary invested too" - thank you, Patrick!
Banana Procurement is one of the BIG issues facing this generation 😮
It keeps me up at night :(
As a symbol of the worlds most serious and eminent states and republics, their acquisition and issuance is vital. I honestly don't know if there are any current economies that aren't pursuing this status.
Patrick is by far the funniest serious finance content creator there is. You have a gift to educate, elaborate and entertain.
Very well summarized, very clear explanation, even humorous.
You have an interesting style, Patrick and it's obvious you know your stuff. "Due Diligence" means different things to different people but there couldn't have been any serious due diligence when the financial records are so screwed up. It seems certain that greed ruled and SBF knew how to play to that.
Patrick, I find the way you talk about these subjects comedic at times and that is a compliment since for a lot of people it gets boring quickly. I started listening to your videos due to the fact that the bits of humor make the information so easy to consume and remember.
As somebody for whom english is not their first language the way you present financial stuff makes me really understand it despite a small language barrier.
Thank you for this totally serious video. I did not laugh out of respect, as you said it was not a joke.
I too have respect for the precision and sober reflection of this video, yet I still lost bladder control on several occasions while watching. Does this mean I am suffering from a UTI?
The humor writes itself with this one......
@@davidscott5898 I was just going to comment about my own bladder issues. Very strange.
@@davidscott5898 No, just pelvic floor dysfunction 😂
@@samsonsoturian6013 truth “a total addressable market of everyone on the planet” 😂😂😂 the jokes are in the actual docs! FTX is just so funny (so long as you don’t have your OWN money in it… which any sub of Patrick knows better than to do).
Thanks for your explanation you are a good speaker
I am from Zambia and i just subscribed to your videos. I love the way you hilariously drive serious points. Amazing stuff! 👌🏾
To be fair, they thought they were investing in a casino
That's hilarious haha
Always a good money laundering method.
They were.
@@Troy_Built Rigged, like all casinos so that only the Bank (er) (man) can win.
@@patienceobongo all big investors knew it would fail. A zero accounting zero audit multi billion laundering machine while it lasted. That's easily worth a few hundred million dollar if that's what gets it started.
Mr. Boyle, I'm a finance nerd (and not into bananas) and I do find the technical content of your videos to be absolutely on point and made by a seasoned money manager, but it is also true that your delivery (the Irish accent, the impassibility of the monotone voice AND the Irish humour) also makes for excellent comedy moments. I mean, your very terse comment about monkey JPGs as an asset class made me laugh out loud despite the seriousness of the topic. Keep it going! :)
Who dares to make joke of your great content! Thank you for your research!
Your humor is right in the money 💴 don’t change for anyone. Keep it coming. The information beyond the humor is what people should be focusing on. 👍🏼🙏🏼🙌🏽👏💴💰 thank you for your content.
Masayoshi Son is hilarious. It's like me buying a winning lottery ticket and then convincing people to pay me to buy lottery tickets for them.
Declan, have you ever considered that this might actually work for you in practice?
I think you're onto something
@@beldiman5870 Knowing how some people are you might actually others to invest
I can’t tell if your intro was satire or real. Just in case it is real. You’ve got a unique sense of humor that cracks me (and I’m sure many other people up)
Snicker, snicker. Although this is what makes this channel so great, you get in depth analysis and explanations with a dash of deadpan humour used to highlight whichever point Patrick is currently making. Brilliance.
He’s great. Dry humor with very informative explanations of complexity.
Personally, I really like your deadpan delivery especially the "bit of humor" intertwined with the story details otherwise it might be a little boring...not to underestimate the effect these losses will have on real people's lives in any way. My vote is to stay the same and ignore the trolls.
His sarcasm is off the charts. Patrick’s videos are always a joy to watch.
Like your style and your channel, Patrick. Perfect work, pls keep going. Thanks 👍
You're brilliant @Patrick Boyle
I am completely disinterested in anything investment related, but somehow your serious videos keep me invested in them. In all seriousness.
Patrick is just showing us how efficient market and rational actors make up the world we're living in.
And Sam is showing us how markets work too, in his own way.
I listened to this video today after I had listened to the new Bankruptcy CEO of FTX testify. You were spot on 2 weeks ago when this video was posted.
I really like the dry jokes with informative financial news combo. keep up the good work!
Bankman, Cheeseman, and an offshore attorney. What could go wrong?
Great videos, keep it up Patrick!!!
LOL keep up the great work, love the tongue in cheek
Patrick, you explain complex finance issues and topics,in a approachable, relatable and entertaining way, this is the mark of a great communicator( a rare talent) , please keep it up. Well done sir
You are genius in explaining complicated financial matters with a pinch of humour, Patrick.
There is not a pinch of humour in this entirely serious video, what are you talking about?
love your vidoes and sense of sense of humor.... keep it up!!
I'm learning and laughing the most with Patrick's videos. This is gold.
So Patrick, how can we get VC's to give us millions and what video game do you reccommend we play during the after pitch discussion?
Fortnite. Most definitely. Its what all VC's are gunning for.
Factorio or Satisfactory will suffice. Show them you can be efficient and optimize virtual factories instead of real ones.
I think SBF's issue was the banana part. Eggplant is today's banana. Copy what SBF did, maybe in the Cayman Islands, and tell VCs about crypto eggplants while playing Candy Crush.
@@christianpechhold2616 first some due diligence: do the Cayman Islands have an extradition agreement with the US?
I'd think streaming Warframe to them would be a rather USP .
If softbank invested in a company, it's doomed.
We should just short every Softbank investment
another good one. I laughed out loud during much of the video. thank you!
Thankyou for an excellent and thorough explanation of FTX. I learned so much from your presentation.