Yea I mean that definitely makes sense, if you don’t think about it.

the whole family is innocent 🤣

In a way he admires how good we was wasting the money on ads and stadiums?!?

oh well that settles it, SBF is not guilty hyuck hyuck hyuck

You're not wrong

What's wrong with coffeezila? It reeks trustworthiness

Raises the question of how much of his prior writing was also manipulation

​@@grabik4402"coffeezilla" the name, sounds like lets play youtuber

@@PenguinCrayon269 nah more like someone who reviews coffe/cafe

@@robertbeisert3315note: this it the guy who wrote the book the blind side

Used to be: "follow the money ", now its: "follow the fawning endorsement to the end of rainbow". Fortune favors the bold😂

I wonder how much SBF paid to get his book written by Lewis.

@@FonderTomato13 ML: How much? SBF: Yes.

this blew me away bc when i saw the Thumbnail with Michael Lewis im was like oh the guy who shed light on the 2008 financial crisis, his book leading to one of my favorite movies The Big Short imagine how shocked i was that hes actually fawning over SBF guess everybody has a price

"I'm Michael Lewis. Welcome to my masterclass." Begins washing SBF's feet

*billions

When I saw the interview done by CBS,I knew they would try to frame a narrative to the public,that isn't real.

Frankly it being true is what makes it great.

Billions! So true. Best comment.

The whole industry was a fraud and everyone knew, nobody cares as long as they made money

😂😂😂😂😂

😂🤣😂🤣

what a funny little positive outcome of all of this

Honestly if my parents did that, I'd rub it in their face. Though I'm an adult, so they have less authority over me now.

When you're parents idolize the wrong role models 😂

Yep.

Anyone who defends SBF needs to have their anything investigated.

Why? SBF is innocent until proven otherwise. Let’s hear the facts first

They don't have any finances because they gave it all to him

@@larrycapija8980SBF is guilty until proven innocent you mean

Want to bet he knows his Mom and Dad ?

😂😂

And the worse part? EVEN if there was a run, _as long as they had the money,_ they would still be in business! The problem wasn't FTX getting targeted, it was the fact it was a fraud!

@@blakksheep736 Exactly. It wasn't a bank, so was not susceptible to a run.

@@alexanderSydneyOz not _supposed_ to be suspectible, more accurately. And yet...

Technically, he was describing crypto yield farming, which wasn't FTX's business model.

If you'r going to post then at least know what you're talking about.

🤣🤣🙌🙌👍👍

A lot of his previous works were pretty much fiction

​@@franslisztbut they were entertaining

yes behaviour on the Michael Oden story was completely unethical, his comments after were disgusting

Yeah, if I run a ponzi scheme and no one ever demands their money back, then I too can keep making profits forever.

Yer, it's only a problem when the jig is up.

He's not wrong, and that statement isn't as stupid as you think. It's the same principle that every bank and brokerage relies upon.

​@@CookieFACE417It's definitely true. Though noone even makes an investment unless they want returns or to avoid tax or launder money.

@@CookieFACE417 I mean it is stupid because while banks don't necessarily always have the money on hand they do have the money and are able to return all of your money, it only becomes a problem during a bank run but that's not just simply people wanting to withdraw their money.

A Ponzi pays customers their investment, and return, with new customer funds. So, this is not a Ponzi, it's outright theft. The took the customer's assets, sold them, and replaced with with ftt tokens, without the customers knowledge or consent, then took the money made from the sale, and spent it.

Exactly and my scheme is nothing like a pyramid scheme, is more of a triangle.

​@@MultiChrisjb😂😂

See hedge funds.

@@MultiChrisjb Here's me, here's the five Dragons under me...

Many bestsellers, specially those talking about the financial world, are full of shit. Many people fake knowledge on finance because it is such a big market, where people are interested but ignorant, and also heavily prone to wishful thinking and confirmation bias, because everybody wants to get rich.

Haha best comment 😂

This^^ 🤣

Definitely

He probably was paid by the same person too.

Was thinking exactly the same thing. 🤣🤣🤣

Cognitive dissonance is strong

The money was real, and it was spread really well...

You said trusting but I think you meant “being paid by”

Coffeezilla got him to confess in a youtube video that is still online. If I were a prosecutor, I'd show it to the jury.

lf he gets away with a slap on the wrist the people who defended him have a payday.

Aren’t they supposed to be on media blackout? Either I’m confused about how juries work or he is.

I think the assumption here is that his book started as a letter to be read before the court, and he just couldn't keep it brief?@@tethergobrrr

@@tethergobrrr you are correct, the jury is meant to be on media blackout and know as little about the people on trial as possible, so reading the book would get them removed as soon as it found out they read it and telling them to read the book could be ruled as attempted jury tampering.

@@NeonDripKitty Thanks. My legal education comes mostly from movies, but I thought that was how it worked. Michael Lewis caught the crypto brainworms - rules? what rules?

And it... didn't work.

That or collusion? I tend to believe successful people don't just turn dumb all of sudden irl, just pretend when it suits them

And they don't care if you steal from the peasants, just don't steal from us.

Yea seems about right.

Yeah, I heard the "letter to the jury" bit and thought it was just an author trying to make a quick buck.

Oh I think that book and its author are a different kind of plug.

If it is a letter then it's jury tampering

That's a bingo

SBF showed us who can fill that hole. Each and every person that received stolen money from him directly or indirectly. And we don't have to fill it with dollars, we can fill it with criminals being punished.

I was thinking ML needs to find Jesus. No other way to fill that hole in the world

@@TyPhenirW0LF Everyone thought he said *Effective* altruism when he really was saying *Affective* altruism. 😆

Your wish is granted. The investments he made with customer money are now able to provide everyone with their lost funds.

That hole is a jail cell. And it should be filled with SBF himself.

Like the mom of that prankster youtuber who got shot by his victim.

At least I can comprehend a parent refusing to believe the worst, right or wrong. this is a grown ass man defending another, unrelated, grown ass man(child)

almost as if the parents have a “blind side” to their children… …get it? (Michael Lewis wrote the book _The Blind Side_ - just in case you didn’t get the joke haha)

Easy to do when your children buy you multi-million dollar real estate

​@@terubokmasin3247Spare the rod, spoil the child.

They were the meanest tweets ever!

Exactly! Especially when your “business” is so fragile that after the run, it didn’t even have enough liquidity to last one freakin WEEK!

It wasn’t a great business obviously. But the tweets didn’t bring it down on their own as much as they sped up a downfall that was going to come sooner or later. It was more so an expose of the farce of value that so many argue exists in a lot of tokens because the minute it was exposed that the balance sheet of the company was almost solely in token the value people felt that token had vanished in their minds where they immediately made a run on the exchange. The company was diverting way too much money to not have fallen eventually but had people chosen not to run the token it would have lasted longer than it actually did because the token that it based its assets on wouldn’t have plummeted. But again it’s important to remember that the run wasn’t the cause of the fall but rather expedited rhe fall that would’ve come sooner or later with how they were operating.

​@@jack90054I mean the run is what causes the liquidity crisis.

@simasgraliauskas6986except it is public record, every transaction. how often are these wallets leaked.

Yeah I don’t think any of the many charges were ‘doing a Ponzi’.

But the whole cryptocurrency bubble was a kind of Ponzi scheme. Early entrants made megabucks, the majority who were late lost almost everything. Easy Money talks about this.

yeah. The business was legitimately profitable. SBF could have borrowed the money to fund his crypto-hedge fund legitimately, which confused FTX executives bc they had no idea SBF was using FTX to fund his crypto-hedge fund. Alameda could have gone under and FTX would have survived and been fine, but he fucked it all up just to avoid interest rates on the loans.

there was no ponzi, SBF and others were just siphoning off money to Alameda which i believe falls under both embezzlement and money laundering (still VERY illegal), but not ponzi schemes

He used customer money to pay customers profits as well. That was the whole allure of putting your money into ftx or alameda. Most ponzis have some sort of a sham business or investing angle thats supposed to be making the returns.

I believe in facts. And the fact is SBF is innocent until proven otherwise. Anything else is just opinions

@@larrycapija8980where have you been? Have you not watched any of the coverage in this channel?

@@rajamrifqi5764 I have not. Algorithm brought me here since I watched first the 60min interview. Why I would trust more in a influencer than version given by the writer?

​@@larrycapija8980it would be a good idea to go and watch some of the coffeezilla back catalogue 😊

​@@larrycapija8980being critical is good and all but there is pretty hard evidence that SBF isn't really innocent and the facts point to that

and almost all of them are in the US

whoa there cool it with the anti-semitism

Gradually people begin to hate them...

And what are you going to do about it? What cán you do about it?

Everyone gets paid by the people they interview these days so they can say what ever makes em look better rather then get asked the tough questions the only reporters i trust are ether youtubers or tyt who is trying to do the opposite of what professional reporters do when paid by the people they interviewed.

This comment won the internet today.m

It’s easier to fool someone than it is to convince them they’ve been fooled. Mark Twain

The human ego can’t accept they’re a sucker and they dig themselves a deeper hole.

A story we see all too often on this channel.

This has so much in common with how religious people operate with respect to their religion.

Nah the blindside was the first.

😂😂

Definitely not the first.

Bro really went "I'm allergic to facts" or "If you pay me enough I'll say anything". Not sure which is more disappointing.

Saying he intended to tamper with the jury wasn’t great.

Yes, and also his publisher was probably like "perfect timing to publish this book about SBF and FTX, just get it out the door, doesn't matter what it says, it will be goldmine either way!" So ML didn't take the time to rewrite it, and now is stuck trying to justify it.

As some pointed out to me in every other Lewis book the System is the problem and the characters in the book are all heroes in some way. He just can’t write bad guys. It’s not his formula. Issa son is the same with his Musk book.

Yes don't let facts get in the way of perfectly good propaganda.

@@regisdixit Which didn't idolize "scams"; it focused on people who understood what was coming and quite legally made money out of it. Nor was the the financial crisis was not based on "scams". It was the result of a complex set of events and contributing factors.

@@alexanderSydneyOz sure m8

michael lewis: with my life, with my soul

yeah he's been completely played and is utterly oblivious to this fact. I have 2nd hand embarrassment just listening to him. Cringe.

But he was so honest when he told me he was untrustworthy! What's not to trust??

He's got a long history of lies. Blind Side was built off of a lie that Oher was adopted, when he was placed under a conservatorship and the white family that adopted him stole all his money.

I think that you can like someone's old work and not their new work. Definitely unfortunate to see him siding with SBF in such a public way, though. It's pretty unbelievable

​@@scottnon9779But I did just learn he wrote The Blind Side and that didn't age well either :/

You need rethink the credit of his other books.

Have you read the book? Because I think Coffee is way off base with his take that the book is just a defense of SBF.

Yeah wtf happened to Michael Lewis this is shocking to me

To play devil's advocate: the best people to clearly and concisely explain the con is a conman who's running it. Don't quite a few ex-conmen make money out of publishing books specifically about how they ran their old frauds, when they actually try to go legit and start working in fraud protection instead? (I'm not knocking ex-criminals turning their skills lightside or saying this author's a fraudster, mind, just poking at your expectation that being good at breaking down a crime prevents someone from having very bad takes or makes someone's moral compass functional and fair.)

​@@k-isfor-kristina💴💵💶 simple as.

Why do all of you people seem to have so much faith in an author or journalist? Like I'm not trying 5o be am ass, but as a pessimistic asshole who assumes the worst in people, it's hard not to assume people deserve to loose their money when they seem so faithful and trusting of someone at face value on their word.

I mean he has always given his perspective from one side. In the big short, he only ever talked about it from the perspective of the shorts. Of course the banks marked the credit default swaps lower, since everyone believed the mortgages were fine. In flash boys, he always talked about it from the perspective of institutions who fell victim to hfts, and not from the perspective of the hfts, who are doing nothing more than finding an exploit in modern finance.

He very likely won't walk. Very high chance he's getting serious jail time.

@@tunnelsloth5948 REcently it's coming out that the old man was key in keeping this thing going, and setting it up to benefit the insiders. I''m going to LOVE to see this side of the scan unfold, as it MAKES SENSE compared to the first story of a fat kid with few friends playing vid games getting financial people on board. DAD pushing the agenda fits a lot better: LAW, STanford, all the boxes ticked.

​@@tunnelsloth5948At a white collar, minimum security RESORT maybe. Which is another part of the problem OP is referring to.

He stole rich people's money. He's dead.

He's jooish, I doubt he takes a big hit on all this. Would love to be wrong though.

💥

Indeed if we interpret in-credible as uncredible.

Nice👍

Inb4 Elon Musk somehow makes Twitter even worse

they just need to be smarter then their customer base

It isnt only a choice between genius/stupid or malicious, you’re missing the human part. Humans are infinitely good at tricking themselves, especially when they have decades of crazy success and sycophantic people around them telling them nothing they do can possibly be wrong. It may seem like self interest, but, it’s really a self delusion, imho :)

Both

Just think about some of the figures he threw out to get celebrities to spend time with him, he wasn't even living in the same world as the rest of us by the end of it. Malice doesn't come into it, you can't hate something that doesn't even exist in your mind.

You should FTX yourself.

@@atlas5653 you should mind your own business, be better.

The thing is, a lot of people just aren't aware enough of stuff like this. They _don't_ think it sounds too good to be true.

i mean, he stole from too many rich people to possibly get away from it.

Pure gaslighting

All those who invested in FTX are basically speculators and I'm so glad they've lost their money.

"Self deleting" oh my god. It's suicide, straight up. Can we stop baby-fying serious terms when there's no need to?

​@@Drunken_MasterShlt tier bait.

@@Drunken_Master lol so obvious

Right! He told you that he’s a sociopath with his own words. It’s willful ignorance. Gotta be money right? Nothing else makes sense.

@@tiffanyh1274 i assume that’s why he was following him in the first place, he probably got one of those payments like Brady and Steph

“The best books... are those that tell you what you know already.” - George Orwell, 1984

@@Marklarn_ I think so. The only other person who was praising him in the media after the fall was that shark tank guy. Remember? He made 15 million as a spokesman. It’s always money with these guys. It must be right? It’s not generosity of spirit 🤣

Sociopathy puts the effective in altruism 😅 Just ask all of the celebrities whose pockets were lined!

Technically, it's not a Ponzi scheme. Coffeezilla likes to exaggerate to milk views.

I like the part where Michael Lewis says "this isn't a ponzi scheme, THIS is what they were doing" then basically goes on to exactly describe a ponzi scheme 😂

@@dzelpwr I wouldn't call SBF's crime a Ponzi scheme either - it's more like embezzling money and gambling it at the casino thinking that you'll pay it back when you win. It's a different type of fraud than merely paying off your last investor with the buy-in from the next investor.

​@alexholker1309 Yeah I mean his crime was embezzlement... He just did it from a ponzi scheme... If he had just not used microsoft excel And didn't accidentally embezzle the money... And then subsequently lose it so he couldn't launder it back... And then of course we have to assume he Did it on purpose trying to make some side money? And it was just gonna give back the principal once his genius. Money making skills paid off even more... If none of that happened it would just be a normal happy go lucky ponzi

That’s exactly what he’s doing

Thank goodness CZ saved me from wasting that money.

Good way to destroy your credibility, anyway. I have read several of his books. Can't see reading another one of his.

In fairness to SBF, running a Ponzi scheme is a good way to make a lot of money

This will 100% be his last book, he does not care@@bubba99009

you haven't even watched the video yet lol... it came out a minute ago

who said@@spider1292

That’s Capitalism at work, my friend.

It could buy me too.

60 minutes is actually pretty fair journalism

That’s an inherent flaw with his writing that seems to have gotten worse over the years

In the UK it is - it's classed as contempt of court "statutory contempt of court under the Contempt of Court Act 1981, which criminalises the publication of material which creates a substantial risk that the course of justice in the relevant proceedings would be seriously impeded or prejudiced;" - I'm sure there's an equivalent in the US.

​@@rpcheesmanI believe it is exactly the same thing under the same name, but I may be wrong.

Anybody could do that. You could write one. I could too. Doesn't mean they're going to read it. Calling it that is just how he's trying to sell copies.

@@elbruces is that an amicus curae (or however it’s spelled) that you’re referring to? Yeah, always thought those were fine

Aren't jury's told explicitly by the judge to stay away from and disregard ALL media and biases during a trial (including friends, family etc) and only look at the facts delivered in court? I was recently on a jury here in NZ and that was most definitely the case

Come on, that's an unjust characterization. Magic beans are way more valuable than crypto

The magic beans actually did work. They literally grew a bean stalk, and the boy ended up getting a golden-egg laying goose out of it.

@kwanarchive You see all these wealthy people in super yatchs? That's the Golden Egg. Dubai Trips, a lot of rugpulling wealth went over there.. Golden EGG central.

@@dorothywinn9979They're the giant living at the top of the beanstalk. If I remember correctly, the giant stole all that stuff to begin with.

Better call Saul!

😍

Bruce rivers.

Took the words right out of my mouth.

​@@EGL-P"Who did this to me? Why can I sue?"

Yep daddy’s wallet kid

He started as a CIA Asset.

I started with a small loan of 1million dollars

Rags to riches while being born in a extremely privileged family. Lmao

To add. They had an actual business model. Ponzi schemes don't have that. This is fraud, money laundering, misplacement of funds, and theft. The run on the bank + drop in price in crypto is what exposed it

People lazily call any type of fraud a Ponzi scheme. It’s counterproductive because it casts doubt upon everything else you say. Don’t exaggerate when the truth is sufficiently appalling.

Not all fraud is a ponzi. I agree, I don't think FTX really fit the definition of a ponzi but people just compared it to Bernie M because it was another example of mega fraud.

*pay or refund someone with stolen money,* he did exactly fucking that propping up the tokens value. he didn't just try bribing politicians etc with the money, he also used money, possibly majority of it, propping the value up. he was supposed to be using profits to prop it up.

@@lasskinn474u missed the joke man🤷🏼‍♂️

As she was tweeting “Nothing like regular amphetamine use to make you appreciate how dumb a lot of normal, non-medicated human experience is,”. Can you imagine 😂 It is mind numbing, you’re right.

Honestly I have a hard time thinking of any other reason why Lewis would defend the man.

Yer, he probably came over to the dark side.

SBF is a philanthropist Just trying to help mankind

@@gregorysagegreene 😂 🤣😂

He’s not blind, it’s deliberate

And he has the right politics.@@Fireclaws10

You might say he has a ... Blind Side.

You better return that book

Somebody replaced Michael Lewis’ brain after he wrote Moneyball…he’s developed a Blind Side since then

Its upsetting; I love the Big Short and Moneyball, and now I feel like I would recontextualize things if I read them again. Like how do you write the Big Short, and then ten years later write basically the same book but this time you side with the villains.

Lewis is Jewish, Sam is Jewish, no connection or ingroup preferences. Don't look hard at it goys

I get what you’re saying @tayhadar1; even so I believe that nobody can stay intellectually pure on a long enough timeline. If you like his old work and it’s valuable to you, it still can be! Even if it feels like a big tu quoque fallacy now. ❤️

@@jameskierans4245 I prefer to think his flaws have just become worse and now overwhelm the writing-remember how he kinda made Billy Beane a cartoon character but it still worked because of the bigger story? This is just that particular flaw but the entire book

Shit, the author started to play the role of one of his own characters; So meta

“This isn’t a Ponzi scheme” It just requires ever more money from new investors to pay off existing ones. Actually he may be right. They didn't pay off the existing investors.

It's not a Ponzi scheme. It's absolutely fraud, probably embezzlement. But not all frauds are ponzi schemes.

influencing a jury usually is...

It is.

​@@remcovanvliet3018No it isn't lol

Yeah what poor phrasing on his part (and that’s a charitable assessment).

@@emmily6254 Examples of jury tampering may include providing outside information to a juror and bribing, threating or intimidating a juror to influence the verdict. Both lawyers and jurors themselves can be involved in jury tampering. Jury tampering is not only an ethical infraction, but a criminal offense. The standard admonitions given to jurors are found in G.S. 15A-1236(a), and they instruct the jurors: (i) not to talk to among themselves about the case prior to deliberations, (ii) not to talk to anyone else about the case; (iii) not to form an opinion as to guilt or innocence prior to deliberations; (iv) to avoid reading, watching or hearing any accounts of the trial; and (v) not to talk to any of the parties, witnesses, or attorneys. The judge may also admonish the juror as to any other matters he or she considers appropriate to the case. You're on this magical thing called the internet, where all sorts of information is at your fingertips... And instead of doing a THIRTY SECOND GOOGLE SEARCH, you just decided to speak out of your ass?

🥳

That'd make sense, because he's a writer, not a researcher in the scientific sense of the word.

In that case too Lewis was close to the protagonists, so it's kind of Stockholm syndrome. You have to get close to the people you write about, but if you get too close, you lose your journalistic distance and become a starry-eyed fanboy. Sad. Lewis is still a great writer ..... of fiction.

Yeah, that one didn’t age well either.

@@BassForever44 who claims to be exposing the "truth"

What if he was actually hiding behind an insane story real intentionally criminal actors.?

Very disappointed in Michael Lewis. I was looking forward to this book as I assumed it was a great opportunity that he had direct access to SBF and would do a detailed report of what happened. Instead it’s a huge puff piece. So depressing.

He is a tool in the whole scam. And that scam goes so deep. He’s gonna walk free.

You have to understand that SBF has paid off a number of people to portray him and FTX in a positive way. It's now clear that Michael Lewis is one of those people.

Were you not blindsided by the Blindside

...she is cute af too.... 😉

He's financially motivated to write this version of events

That is exactly what Zeke Faux did when he wrote "Number Go Up..." a book I enjoyed. Zeke does a really good review of the Ponzi-like house of cards that is crypto.

@@colew001 is he though? I think he’ll turn more people off with this book. Even if he has some serious crypto investments this book alone won’t save them. I’m just not sure what financial incentives he has to write this book as anything resembling a flattering depiction of the subject. I get that his brand is writing about “outsider’s breaking the norms to change their fields using novel techniques” but the minute he realized what was happening he’d have been better off shelving the book. Or write the truth as an “insider’s account” and sell tons of books.

@@timmacsweet131 fair point. I was alluding to the idea that he is in SBF’s pocket

@@colew001 you may very well be right but man he better have gotten paid in real currency to carry SBF’s water because his reputation is taking a bath.

He has freedom of speech to say wtf he wants in his book. Nobody else has authority outside what HE says in HIS book. That's why.

@@theultimatereductionist7592 I think you'll find the justice system has authority if they consider that someone is tampering with the jury.

​@@theultimatereductionist7592you're the kind of person to share your social security number in the name of freedom of speech

That's not tampering so no. He could say he's taking a walk to the moon, it doesn't make it true. What is up with people today wanting to throw innocent people into prison just because they don't like them. You're sick... Get help all of you... @@retsoptihs0

CoffeeZ is the goat

i don't think you need to tell him that bro lmao

Did you watch the full interview? He is right and Coffeezilla likes to milk everything here.

​@@pomp4401braindead take. 🤡

@@pomp4401 How is the interviewee right?

@@pomp4401be careful. these people are going to accuse you of witch 🧙‍♀️ craft.

@@pomp4401Jesus the cryptobros are out in full force here, please seek Canadian healthcare.