FTX Collapse, Lessons From My Honeymoon, and Why I Quit Social Media - E44
- Jan 28, 2024
- 41:03
- Full Episode
FTX has been dominating the news. But what's a simple explanation of what happened? Jesse explains the sudden rise and fall of the FTX and its founder, Sam Bankman-Fried.
Jesse shares a tough honeymoon delay as a reminder: it's important to build in margin for unexpected events, because some things are out of our control.
Social media is addictive by design. It wastes time, manipulates peoples' views, emotions, and behavior. And that's why quitting social media is in Jesse's best interest.
Mentions:
6 Investing Lessons from Our Honeymoon's Terrible Start (https://bestinterest.blog/honeymoon/)
Why I'm Quitting Social Media (https://bestinterest.blog/quitting-social-media/)
More of The Best Interest:
Check out the Best Interest Blog at bestinterest.blog (https://bestinterest.blog/)
Contact me at [email protected]
The Best Interest Podcast is a personal podcast meant for educational and entertainment. It should not be taken as financial advice, and is not prescriptive of your financial situation.
Brief Summary
Jesse discusses FTX's bankruptcy, its implications for cryptocurrency, and shares personal finance lessons from a travel mishap.
Key points
- The FTX Collapse Explained. FTX, a cryptocurrency exchange, went bankrupt suddenly, risking billions of client funds.
- Lessons from a Honeymoon Disaster. A travel mishap turns into valuable investing lessons about luck and decision-making.
- Lessons from a Missed Flight. Bad things can happen, but they can also compound. It's a tough lesson for investors.
- The Dangers of Social Media. Social media is designed to be addictive and can waste valuable time.
- The Impact of Social Media on Attention. Social media interrupts deeper work and diminishes our attention spans.
Episode highlights
- The FTX Collapse ExplainedFTX, a cryptocurrency exchange, went bankrupt suddenly, risking billions of client funds.“This is about as bad of a crime as can occur in the financial system.”3:09Jan 28, 2024
- Lessons from a Honeymoon DisasterA travel mishap turns into valuable investing lessons about luck and decision-making.“Luck and the quality of your decisions determine how your life will turn out.”17:20Jan 28, 2024
- Lessons from a Missed FlightBad things can happen, but they can also compound. It's a tough lesson for investors.“Just because bad things happen doesn't mean that more bad things aren't going to happen.”23:58Jan 28, 2024
- The Dangers of Social MediaSocial media is designed to be addictive and can waste valuable time.“Social media wastes too much time.”27:48Jan 28, 2024
- The Impact of Social Media on AttentionSocial media interrupts deeper work and diminishes our attention spans.“Social media interrupts deeper work.”31:56Jan 28, 2024
