Episode
A Hard Fork in the Road: FTX’s Unraveling and Elon’s Loyalty Oath
47:08
Published: Fri Nov 18 2022
Description
The balance sheet contains an apology, the in-house coach is concerned that company executives are “undersexed” and billions in customer funds remain in jeopardy. The wreckage at FTX goes from bad to worse.Plus: Elon’s “extremely hardcore” plan for Twitter 2.0.Additional Resources:George K. Lerner, FTX’s in-house performance coach, said he was shocked by the collapse of FTX.In an interview with Matt Levine, a Bloomberg columnist, Sam Bankman-Fried described his strategy to restore faith in the crypto ecosystem.Bankman-Fried reflected on his actions as chief executive of FTX in a series of Twitter messages with Kelsey Piper, a Vox reporter.Elon Musk told Twitter employees in an email that the company would become an “extremely hardcore” operation. Employees were asked to click yes to be part of the new Twitter or take severance.Musk’s social calendar includes courting comedians and hopping on yachts.We want to hear from you. Email us at [email protected]. Follow “Hard Fork” on TikTok: @hardfork
Chapters
This episode of the Hard Fork podcast provides new details on the collapse of FTX and an update on Twitter's recent meltdown.
00:00 - 01:08 (01:08)
Summary
This episode of the Hard Fork podcast provides new details on the collapse of FTX and an update on Twitter's recent meltdown. It also discusses the mainstreaming of polyamory due to FTX's collapse.
EpisodeA Hard Fork in the Road: FTX’s Unraveling and Elon’s Loyalty Oath
PodcastHard Fork
The FTX exchange has lost billions of dollars worth of customer money and is now facing allegations of engaging in extremely deceptive behavior.
01:08 - 08:08 (06:59)
Summary
The FTX exchange has lost billions of dollars worth of customer money and is now facing allegations of engaging in extremely deceptive behavior. Investigations and charges are expected due to these concerns about the exchange's financials.
EpisodeA Hard Fork in the Road: FTX’s Unraveling and Elon’s Loyalty Oath
PodcastHard Fork
An examination of a balance sheet of a troubled crypto company reveals unusual accounting practices that raise concerns about the transparency and accuracy of the company's financials.
08:08 - 14:36 (06:28)
Summary
An examination of a balance sheet of a troubled crypto company reveals unusual accounting practices that raise concerns about the transparency and accuracy of the company's financials.
EpisodeA Hard Fork in the Road: FTX’s Unraveling and Elon’s Loyalty Oath
PodcastHard Fork
Trading firms are hiring in-house performance coaches, often psychiatrists or mental health professionals, to help employees plan their careers and manage stress.
14:37 - 20:29 (05:51)
Summary
Trading firms are hiring in-house performance coaches, often psychiatrists or mental health professionals, to help employees plan their careers and manage stress. Recent rumors of rampant stimulant abuse at FTX, with reports of employees taking large amounts of Adderall and other stimulants to work long hours and improve focus, has brought the issue to light.
EpisodeA Hard Fork in the Road: FTX’s Unraveling and Elon’s Loyalty Oath
PodcastHard Fork
During an exchange of Twitter DMs, Sam Bankman Fried admitted to Kelsey Piper that the philanthropic reputation he had built up was essentially just a PR stunt.
20:29 - 24:12 (03:43)
Summary
During an exchange of Twitter DMs, Sam Bankman Fried admitted to Kelsey Piper that the philanthropic reputation he had built up was essentially just a PR stunt. The admission further confirms speculation that FTX was using customer deposits to fund risky bets at Alameda Research.
EpisodeA Hard Fork in the Road: FTX’s Unraveling and Elon’s Loyalty Oath
PodcastHard Fork
Philanthropies and charities who received money from FTX CEO Sam Bankman Fried are also affected by the scandal, leaving them to find alternate ways of funding their efforts and projects.
24:13 - 29:34 (05:21)
Summary
Philanthropies and charities who received money from FTX CEO Sam Bankman Fried are also affected by the scandal, leaving them to find alternate ways of funding their efforts and projects. This highlights the real impact of the situation beyond the financial blow to customers.
EpisodeA Hard Fork in the Road: FTX’s Unraveling and Elon’s Loyalty Oath
PodcastHard Fork
In this episode, the host discusses how Elon Musk's behavior on Twitter is potentially alienating employees at Twitter, and shares an example of how his actions led to a loss in advertising revenue.
29:34 - 36:25 (06:50)
Summary
In this episode, the host discusses how Elon Musk's behavior on Twitter is potentially alienating employees at Twitter, and shares an example of how his actions led to a loss in advertising revenue.
EpisodeA Hard Fork in the Road: FTX’s Unraveling and Elon’s Loyalty Oath
PodcastHard Fork
In this segment, the speaker talks about his concern over a potential run on Twitter data similar to what happened with FTX.
36:25 - 44:47 (08:21)
Summary
In this segment, the speaker talks about his concern over a potential run on Twitter data similar to what happened with FTX. Additionally, he discusses a person's obsession with Nathan Fielder and their desire to be part of the Hollywood cool crowd.
EpisodeA Hard Fork in the Road: FTX’s Unraveling and Elon’s Loyalty Oath
PodcastHard Fork
The idea of doing another presidential race involving Donald Trump with Twitter in its current form just feels exhausting and overwhelming to Hardfork of NYTimes.
44:47 - 46:38 (01:51)
Summary
The idea of doing another presidential race involving Donald Trump with Twitter in its current form just feels exhausting and overwhelming to Hardfork of NYTimes. Reach out to hardfork at NYTimes.com for any questions regarding the future of the tech industry.