E172: SBF gets 25 years, Trump's meme stock, RFK Jr picks VP, Biden's 2025 budget & more
- Mar 29, 2024
- 1:27:46
- Full Episode
(0:00) Bestie Intros: Late night poker snacks! (2:33) SBF sentenced to 25 years (16:41) Trump's meme stock: modern trading card, protest vote, or something else? (34:59) RFK Jr. selects Nicole Shanahan as VP (47:46) Biden's budget plan for 2025: how to confront America's existential crisis? (1:11:59) Science Corner: Why the price of cocoa has skyrocketed! (1:16:41) Movie talk and wrap!
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Referenced in the show: https://www.reuters.com/technology/sam-bankman-fried-be-sentenced-multi-billion-dollar-ftx-fraud-2024-03-28 https://www.cnbc.com/2024/03/25/ftx-estate-sells-majority-stake-in-startup-anthropic-for-884-million.html https://coingeek.com/ftx-founder-sam-bankman-fried-sentenced-to-25-years-in-prison https://www.google.com/finance/quote/DJT:NASDAQ https://www.sec.gov/Archives/edgar/data/1849635/000119312524036093/d408563ds4a.htm https://www.sec.gov/news/press-release/2023-121 https://apnews.com/article/trump-media-gamestop-truth-social-meme-stock-666e62b4f3f788bd6276764056bc7c0d https://www.nytimes.com/2022/05/18/business/melvin-capital-gamestop-short.html https://www.reddit.com/r/wallstreetbets/comments/lau37c/we_can_stay_retarded_longer_than_you_can_stay https://www.wsj.com/politics/elections/rfk-jr-to-name-nicole-shanahan-as-running-mate-for-presidential-bid-4b9a698e https://twitter.com/CollinRugg/status/1773147897439436939 https://www.cnbc.com/2024/03/01/the-us-national-debt-is-rising-by-1-trillion-about-every-100-days.html https://www.reuters.com/world/us/bidens-2024-us-government-budget-is-also-campaign-pitch-2024-03-11 https://www.whitehouse.gov/wp-content/uploads/2024/03/budget_fy2025.pdf https://manhattan.institute/article/the-limits-of-taxing-the-rich https://www.brookings.edu/wp-content/uploads/2016/06/09_effects_income_tax_changes_economic_growth_gale_samwick.pdf https://fred.stlouisfed.org/series/FYFRGDA188S https://fred.stlouisfed.org/series/FYONGDA188S https://www.oecd.org/tax/revenue-statistics-united-states.pdf https://www.visualcapitalist.com/inflation-chart-tracks-price-changes-us-goods-services https://fred.stlouisfed.org/series/USGOVT https://www.blackrock.com/corporate/investor-relations/larry-fink-annual-chairmans-letter https://www.kakaoplattform.ch/about-cocoa/cocoa-facts-and-figures https://www.movieposters.com/products/daliland-mpw-138836 https://twitter.com/stillgray/status/1773234188663054751 https://twitter.com/elonmusk/status/1773240336292393144
Brief Summary
Sam Bankman-Fried sentenced to 25 years; FTX's recovery discussed; Trump's media venture analyzed.
Key points
- SPF Sentenced to 25 Years. Sam Bankman-Fried, founder of FTX, sentenced to 25 years for fraud.
- FTX's Recovery Plan. FTX is expected to fully repay customers and creditors after bankruptcy.
- Bowie Bonds and Modern Trading. The discussion highlights how David Bowie's innovative financial strategy parallels modern trading practices, particularly with Donald Trump's brand.
- Protest Vote for Trump. Investors are buying shares as a protest against traditional media and political persecution of Trump.
- RFK Jr's VP Pick. RFK Jr. selects Nicole Shanahan as his running mate, aiming to attract younger voters.
- DNC's Legal Battle. The DNC and Biden campaign are expected to fight to keep the Kennedy ticket off the ballot, claiming it's to save democracy.
Episode highlights
- SPF Sentenced to 25 YearsSam Bankman-Fried, founder of FTX, sentenced to 25 years for fraud.“SPF was found guilty... and he just got sentenced to 25 years.”2:45Mar 29, 2024
- FTX's Recovery PlanFTX is expected to fully repay customers and creditors after bankruptcy.“The trustee said they now expect 100% payment back to the depositors.”7:40Mar 29, 2024
- Bowie Bonds and Modern TradingThe discussion highlights how David Bowie's innovative financial strategy parallels modern trading practices, particularly with Donald Trump's brand.“This I think is the modern instantiation of the Bowie Bond.”22:07Mar 29, 2024
- Protest Vote for TrumpInvestors are buying shares as a protest against traditional media and political persecution of Trump.“This investment represents a way for them to vote and say I want an alternative.”24:47Mar 29, 2024
- RFK Jr's VP PickRFK Jr. selects Nicole Shanahan as his running mate, aiming to attract younger voters.“She knows big Tech very well and how they use AI to exploit the public.”35:12Mar 29, 2024
- DNC's Legal BattleThe DNC and Biden campaign are expected to fight to keep the Kennedy ticket off the ballot, claiming it's to save democracy.“They're going to fight tooth and nail to keep this ticket off the ballot.”41:54Mar 29, 2024
- The Federal Debt CrisisA discussion on the alarming increase in federal debt and its implications for the economy.“The federal debt is increasing by a trillion dollars every hundred days.”45:04Mar 29, 2024
- Dependency on Federal SpendingThe conversation highlights the growing dependency of the labor force on federal spending.“The federal government is now the primary customer or employer of most of the labor force.”55:54Mar 29, 2024





