@@miltonhuynh4209 It does appear that BW was using people's stories to market for more funding. It's not known exactly if there was malfeasance or not. We'll find out soon enough. But the idea, of helping those less unfortunate to get tech jobs was there. And I believe in it. With a new president and board of directors, I think they may come back. Who knows.
They never talked about their product, what they were selling and how great it is. Just talked about opening new offices in new cities and how they want to see people be able to say "keep the change" because they are so flush with cash
This company employ(ed)s a lot of people in my town. Their last paychecks bounced and everyone was furloughed via email at 11pm, two days before their next payday. Pretty cold approach from an "equity" focused company
This guy is SMART. He's a lawyer by trade. If he says " I'm not sure, to my knowledge, " as the Co-CEO... then he's throwing his co-founder under the bus NOW. By creating a public document showing that he didn't play a role in the mismanaged funds, or lack of diligence in having 80 MILLION dollars just a few months ago, and now they are behind taxes and can't pay employees? - 👍 SMART - he's built the legal wall now. -- My guess is this guy ends up ok, with a couple million for his effort over the last 10 years and then moves into Venture Capital 😂 - It's amazing to see someone as smart as him play "dumb" to the question: "where's the money?" -- in total the company raised over 180 Million Dollars.... it went somewhere, and you bet he's not going down with the ship!
Great questions David! Can't believe he didn't know of the obvious finances of the company! Absolute liar, and naive; city plus governing body should sieze all assets.
Well, this guy and his partner are criminals. They misled and have now destroyed lives. Way to go. “News to me” and, “to my knowledge” wow. This is a CEO.
Which mini series on Netflix is produced 1st? Elizabeth Holmes & Theranos scandal or. Bitwise Boondogle. They both involve younger virtue signaling generation that are addicted to attention and notoriety before actually having a product
Well you see Bitwise is a new company.. we haven’t been around 100 years.. so I’m not sure if we have to pay our taxes and stay up to date on our rent and pay our employees..and make sure we are paying our health insurance premiums..I thinks it’s best to let it play out..👏
This reporter should be giving Bitwise praise for all they have done for Fresno and all the other cities that they help on a daily. Not just try and bring up negativity. Great job for staying composed Jake. Thanks for everything you do for our community❤
Don’t be so mad, man. This comment does not age well now your family don’t have an income. You should be mad at them, not kiss their a**. Elon Musk still fired the staff that praised him.
So, you're suggesting that the reporter ignore the fact that Bitwise burned through tens of millions of dollars of other people's money with a scam model that could never succeed?
I love how you put him on the spot, asking tough, but reasonable questions that he should have no problem answering as a CEO.
There will be a documentary on this, we are witnessing history in the making
Right or a Hulu Docu series starring Sara Ramirez as Irma. I could already see it.
Discovery Channel now has two options on Fresno: Dangerous Gangs, or Corporate Fraud! -- Exciting Times 😂
This interview aged well.
no kidding. Right off the bat, a co-CEO "hopes" the financial situation of his company is "good"
Bitwise just furloughed everyone lol
Like my parents :(
The answer to how's BW doing financially, gave it all away. I hope they recover soon because so many people hired through them deserve it.
@@Mufffinz if they recover, you dont think they'll keep misleading investors and employees?
@@miltonhuynh4209 It does appear that BW was using people's stories to market for more funding. It's not known exactly if there was malfeasance or not. We'll find out soon enough. But the idea, of helping those less unfortunate to get tech jobs was there. And I believe in it. With a new president and board of directors, I think they may come back. Who knows.
They never talked about their product, what they were selling and how great it is. Just talked about opening new offices in new cities and how they want to see people be able to say "keep the change" because they are so flush with cash
Something tells me this was criminal
Why else would this guy say he doesn’t know what is going on 🚩
Yea a very lawyer-ly response- he kept qualifying his answers with the phrase 'to my knowledge' ...and 'I hope so'
@@stallswan as I predicted, they committed fraud
Because Jake is an attorney by trade, and knows that "I don't recall" or other similar phrasings are answers that cannot be used against him
The CEOs should be in prison.
They should!!
@@LewisC-t1fhe got sentenced this week to 11 yrs in federal prison prison 😅😂
@@DaVinciSketch good!
I’m sick to my stomach… anyone affected by this I would love to help anyway I can … I love our hometown of Fresno
Bitwise also didnt pay their employees 401k for 5 paying cycles without telling them.
Also, their most recent paychecks bounced and they furloughed everyone two days before their next one...via email....at 11pm.
Make sure all employees file law action file suite with fresno County office. I can't believe 1000 family employees are effected by this fake guy
I never seen Jake dance so much, you had him doing the cha cha around those questions! I think he sweated away 10lbs lol.
Investors and investigators will be going over this interview with a fine tooth comb.
This company employ(ed)s a lot of people in my town. Their last paychecks bounced and everyone was furloughed via email at 11pm, two days before their next payday. Pretty cold approach from an "equity" focused company
Fresno? 😔 not to mention they owed tens of millions to other local businesses.
This guy is SMART. He's a lawyer by trade. If he says " I'm not sure, to my knowledge, " as the Co-CEO... then he's throwing his co-founder under the bus NOW. By creating a public document showing that he didn't play a role in the mismanaged funds, or lack of diligence in having 80 MILLION dollars just a few months ago, and now they are behind taxes and can't pay employees? - 👍 SMART - he's built the legal wall now. -- My guess is this guy ends up ok, with a couple million for his effort over the last 10 years and then moves into Venture Capital 😂 - It's amazing to see someone as smart as him play "dumb" to the question: "where's the money?" -- in total the company raised over 180 Million Dollars.... it went somewhere, and you bet he's not going down with the ship!
They also didnt pay their employees 401k for 5 paying cycles without telling them.
I agree he is a corrupt lawyer and took money of fresno tax payers and hired his family members and ran corrupt business @@@
The interviewer went straight to the jugular.
Great questions David! Can't believe he didn't know of the obvious finances of the company! Absolute liar, and naive; city plus governing body should sieze all assets.
He is lying and talking in circles the whole interview. This is wild.
Well, this guy and his partner are criminals. They misled and have now destroyed lives. Way to go.
“News to me” and, “to my knowledge” wow. This is a CEO.
Which mini series on Netflix is produced 1st? Elizabeth Holmes & Theranos scandal or. Bitwise Boondogle. They both involve younger virtue signaling generation that are addicted to attention and notoriety before actually having a product
So the CEO doesn’t know they are behind on taxes and rent? Sounds like a terrible CEO.
This guy totally knew all the answers but is answering this way for when investigations come
This is really sad. David asked really great questions. The responses were totally shifting & deflecting.
"I HOPE it's good". That should be a red flag!
Well you see Bitwise is a new company.. we haven’t been around 100 years.. so I’m not sure if we have to pay our taxes and stay up to date on our rent and pay our employees..and make sure we are paying our health insurance premiums..I thinks it’s best to let it play out..👏
he was sentenced to 11 years in jail this week.
His comment at 8:55 😳
Aged like milk.
Robbery completed.
Can the Fresno Police Department apprehend him before he flees the country? He certainly is a know nothing regarding his firms finances.
Jake has always been full of himself. Even before he started this company.
"I would like more cash than I have"
Don't we all?
His eyes shift side to side every time he lies. So cliched.
This reporter should be giving Bitwise praise for all they have done for Fresno and all the other cities that they help on a daily. Not just try and bring up negativity. Great job for staying composed Jake. Thanks for everything you do for our community❤
they just furloughed all staff tonight
Don’t be so mad, man. This comment does not age well now your family don’t have an income. You should be mad at them, not kiss their a**. Elon Musk still fired the staff that praised him.
Yeah this aged well🙄
So, you're suggesting that the reporter ignore the fact that Bitwise burned through tens of millions of dollars of other people's money with a scam model that could never succeed?
This reporter should be given a raise for not being afraid to ask the tough questions and push accountability.