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@@GriffintheelderI have an Advanced Lifestyle Nutritionalist; they come to my house twice a month and inject me with all the nutrients I need so I don't have to waste time on silly things like eating. I wish that was made up and not an actual scam someone fell for (Young Thug)
I was I amazed by how fast he was charged, tried and convicted but then learned sentencing wouldn’t be for 6 months so it brought me back down to earth.
SBF defrauded and stole tons of money from a bunch of very rich, very powerful people. Why would you be surprised at the speed justice was dished out? The problem SBF had was he targeted the rich with his scheme. If he had just targeted the poor like the owners of Multi Level Marketing companies such as Amway does, he could have done this for decades.
Where did you get the 6 month number? DOJ has until March 11 to decide if they will proceed with the second trial. Sentencing is scheduled for March 28, but will probably be pushed until after the second trial should the government proceed with the trial.
@@TheMangoMussolini It might not be a true observation but there seems there. usually and excruciatingly long time before the trial. One side or the other will delay as long as possible. Didn’t this seem fast compared to say Madoff?
I was following Tiffany’s coverage and she has been amazing. As an Australian lawyer living across the pond her reporting has been invaluable. She deserves so much credit.
@@roc7880I never really got into it but there were definitely a lot of people that were. Not as much as in the US as we didn’t really have a sophisticated method to buy crypto in the early stages but it started picking it up. A lot of banks now won’t permit transfers to certain exchanges now because they consider them risky. We have a more restrictive regulatory environment here than in the US.
From a guy with over 40 criminal jury trials, and hundreds of bench trials, who spent 19 years in criminal law, I can tell you that everything you and Tiffany describe about Sam is just a classic criminal mentality. He’s got more education than the average street thug, obviously, but they’re really not that far apart. He’ll never see it, though. That, too, is a part of their blindness.
Their "reality" is NOT the same as their neighbours, even though they live right on the same street. Their brain simply doesn't work that way. I talked to a guy decades ago that spent a decade as a prison guard in one of Canada's long term prisons. He said the same thing as you: the impact of their harm on the person they ripped off, hurt, or damaged simply DOESN:T REGISTER in their brain. You, as a person, don't really exist in their minds.
because he's "smart". It's amazing to me how so many "smart" people are carrying a huge load of hubris and as a result they look down their noses in disgust at the rest of us. Covid made that blatanly obvious, all those "smart" people looking down their noses and laughing the hillbillies and MAGA people. So are those "smart" people still laughing at the hillbillies and MAGA's?
From a guy who pretends to be a lawyer in youtube comment sections, I can say, I would know more about Sam Bankman's case if I didn't' chronically nap while watching youtube videos.
Agree. The funniest to me is Patrick being surprised at the 5 hrs deliberation! I am surprised it took that long! The jurors probably couldn't stop laughing 🤣🤣🤣
He even held a straight face when he said that there might be a trial over SBF's campaign contributions that would drag in politicians. That was his finest joke ever.
Tiffany is right-- Sam believes in effective altruism because he thinks he's the smartest person around and therefore knows what should be done with the world. Of course, he didn't even know how to run a crooked business. BUT the other believers in effective altruism are exactly the same.
Another timeless story comes to an end. When "line goes up" everyone's a genius, when "line goes down" the prison sentences get doled out. Lather, rinse, repeat. Great episode by Patrick (and Tiffany) as always.
One could argue that none of the money he gave away was even his to give: it was his customer's money. If that is indeed the case, then it's easy to give away money that isn't yours (i.e. spend somebody else's money).
Tiffany gave you a big shout out last night when she saw your name on live!! She has been the best and most watchable reporter with this trial! Kudos to both of you!
She's right, if Ellison manages to skate after setting a mountain of other peoples money on fire through pure idiocy it will be a massive perversion of the criminal justice system.
I don't think she will go free. Even if she is a first time offender, the amounts are so large she will have to be penalized. It's not as if she stole a few hundred or even a few thousand bucks. At the very least she is an admitted criminal.
He was investing billions from others and was compensated for such services to the level of being a billionaire himself. The amazing part is that he never even set up the corporate structure, like directors, and got as far as he did.
What a fabulous summary of Tiffany's incredible trial coverage! High praise indeed from one as esteemed as Patrick Boyle! I'm honoured to be subscribed with notifications on for you both. I can't remember seeing Patrick looking so chill and relaxed and Tiffany looks positively vibrant - - despite a week of nights with two-hours of sleep. Great job Tiffany - Super interview Patrick!! Thank you both!
I hope his parents are next in court. His accomplices should not get a small sentence for cooperating, they were as greedy and malicious as sbf. Throwing your boss under the bus to get away with your own crimes is too easy.
I'm honestly more curious about the campaign finance stuff and more specifically the extent of his parents' involvement. Also: It's great that you had Tiffany Fong on, I've been following her everyday of the trial for updates.
It seems that sbf's father was very involved in ftx, right up until it went bankrupt. And, he was being paid for his work as well. How he is not culpable in some way is beyond me. I would like to see him cross examined in court.
glad this is a topper reply... also, she and he is linked to... Mister (big guy) aka Joe.. and Mister Clin'Tone down a bit (hill a ree). If I typed it normally my comment would literally shadowban.
The thing about 'effective altruism' is that it's neither effective nor altruism. It's the underlying belief that rather than tax rich people and redistribute wealth, we should trust rich people to know who to give money to instead. Which always ends up being themselves and their friends.
It would be harder, but I'm sure a good investigation team could find some crimes done by them. I think it's unlikely given they are not big fish, probably not worth the time especially if Sam is locked up for a long time, he will never enjoy their money.
@@MISTAKEWASMADE4live still part of how he enriched his family with political donations funneled through mom’s Mind the Gap PAC and sketchy pandemic foundation which received $35 million and is managed by his brother.
@@priola7587I’m thinking the prosecution won’t bring more charges unless the sentence is extremely lenient as those who received political contributions were high up in the Administration up to the President’s campaign. They probably don’t want to go there.
He guaranteed a conviction with all the interviews he did after the collapse of FTX. This is why any lawyer worth a damn will tell you to keep your mouth shut. You do not help the prosecution build their case against you.
@@PeacockRhino It's a jury trial. Guilty people have walked, and innocent people got sent to the slammer by appealing to the emotions of the jury in one way or another. One of the worst things you can do is being flippant and arrogant, that pretty much guarantee that a jury is going to be harsh against you. SBF? He practically oozed "I'm better than you and I know it" energy in those interviews.
AND the defense tried to use Michael Lewis’s book to show intent and the judge overruled allowing it into evidence. Even the judge knows the book is a pandering piece of horse*#%%.
I really enjoy your show and recently starting watching Tiffany. Shes suchba down to earth person with her hilariously natural delivery. Learning of the friendship between you both is a sigh of relief for normal decent humans after the deluge of disgust i was left with hearing those nonchalant little crooks casually talk of 9 figures like it was all peanuts. Great show. Well done to you both.
First mistake is that he didn't have an exit strategy. Look at Carlos Ghosn, he had mercenaries smuggle himself out of Japan back to Lebanon, a non-extradition country with Japan. That's the level of preparation SBF should've had if he's actually smart.
Carlos didn't have that planned ahead of time, that plan was made after the facts. But Carlos didn't pay for the job.... extradiction or not, he will be in trouble soon.
@@mikatu You think he just dial up some mercenaries? He probably scouted out those people as his last resort long ago. The escape planning is what he paid the mercenaries to figure out. Also he paid $1.3 million to the mercenaries allegedly, so the mercenaries got their money. If SBF was smart, he probably could've had mercenaries break them out of jail while he's being held in Bahamas.
SBF had a god-complex. He was invincible in his own mind - until he wasn't. A 6 year old in long trousers. Ghosn was being setup to take the fall, and from his part of the world, you always hire private security firms who know people.
Two Americans veteran's are caught by FBI who helped Carlos in escape to Lebanon were bought to Japan. They were sentenced 35 years. 5 years less if they show good behavior. Those two Americans are father and son, they threw away their life only for nearly 800k usd
Good videos from you both during the trial....thanks for all the effort! I've looked forward to seeing both of your posts over the last few weeks. Great Job!
If only the law wasn't so biased against the rich, I'm sure Sam would have started fixing the world after he had just bought another couple dozen homes and a few yachts smh 😔
Great wrap up Patrick, and great for having Tiffany on as I've spend my evenings with her over the past 5 weeks 😂. Caroline should get at least 70% of whatever sentence SBF gets the others I'm sort of on the fence on the others. Kudos you two. I hope you both collab more often.
I have loved this excellent interview. So engaging. I love the look of incredulity on the young lady's face as she recounts the court's activity. ❤❤ Really a wonderful watch. That you for posting this.
Honestly, I think the parents should be held liable to the maximal amount they can be. They're complete sociopaths who raised a broken mess of a manbaby who probably learned to cheat his way through everything in life.
They used their son to profit greatly while keeping their hand clean. Sam's father looks to have been the main voice in Sam's ear, telling him what to do.
Very cool to see Tiffany interviewed on your channel! I agree with you that his "effective altruism" was a scam. He thought he could acquire an infinite amount of money and dole it out all himself.
@@richardconway6425 Yes, infinite. His former attorney Dan Friedberg helped a client create a "God mode" to scam poker players. I think Scam Bankrupt Fraud thought he could play God, too, and dominate currency, but like the Wizard of Oz it turns out Scam Sam is only a man.
Its surprising less corrupt than most people believe. The corruption is more common in government, and truly insidious in school boards and home owners associations.
I really appreciate how you can come up with detailed talks about recent events, thank you. I like these interviews as well and would appreciate more content like this. Your recent interview was great too.
Great video, Patrick, as always. Tiffany's description of Sam is very convincing to me. I didn't go to Stanford, but I went to an elite engineering school in Brazil, and the mentality there is exactly what she describes. They believe the years they spent preparing for the selection process makes them a different breed, which makes it almost impossible for you to say anything bad about what's going on there. Professors have no idea what they're talking about in class? No problem, we're amazing, everything will be sorted out. Your classmates don't do anything and graduate from Computer Engineering without knowing how to code? Don't worry, we'll be fine, just don't tell anyone or else our reputation will be tarnished. Professors and grad students fake data to publish in journals, and people steal money from donations? Hey, don't be toxic. Everyone deserves a second chance. Expectations there are extremely high, we all grew up thinking we'd be the genius wunderkind we saw on TV. Some of us, though, when confronted with evidence that things were much more complicated than it was shown to us, eventually grew out of it and are working honestly. Others, like Sam, chose to go the other route and create these fake companies. I guess they'll now have to answer for it...
The description of Sam’s perspectives and reasons for believing in effective altruism actually matches virtually every believer of effective altruism I’ve ever met.
"Effective altruism" is exclusively a cover story. You can't become a billionaire in under a decade without doing some incredibly shady things but fortunately someone developed a utilitarian ideology to conveniently explain everything away as being done for "the greater good". In this case, the greater good as a gaggle of millennial meth addicts would conceive it.
Glad to see Tiff on here! She was such a trooper throughout the trial, bringing us timely updates. I hope she can get some rest this weekend! Side note, SBF is actually a terrible gamer -- he is a poser, just like he was with the budget car.
Sir Patrick I’ve enjoyed all of your material and the dry wit you display. Great interview and Ms. Tiffany was fabulous. Appreciated all the candor and wish you both the best moving forward. Cheers!
When he was asked questions from his lawyer it was well thought out and he remembered everything. When asked during cross examination he suddenly couldn't remember anything! Hahaha
@@found13Holmes got pregnant with a baby specifically to reduce her sentence. It's not the baby's fault she was born only for sentence reduction purposes so the judge can't sentence her to be in prison for the entirety of the baby's childhood. Thankfully SBF is not a daddy.
You two have great rapport without it getting in the way of the flow of the facts and information, and Tiffany is clearly so deep in the trial that she could answer pretty much any question about SBF in her sleep. Great guest choice.
I'm still absolutely astonished how stupid SBF and the rest of these people are. If I was given even 10% of the the opportunity they have had I would behave in the exact opposite way - completely paranoid that the code handling deposits didn't have any bugs and NOBODY in the organisation was able to steal money from people. I would add multiple layers of checks and assume that people inside the org could be malicious, incompetent or both and attempt to guard against it. It's extremely irritating that people of such poor character get so much money thrown at them to build businesses like this.
I felt exactly the same way. This is most reasonable comment here. For me, little street guy who started from nothing, what You wrote is obvious. What sbf did feels like complete absurdity.
Ftx inspired me to sell all my crypto not seized by feds and never return to it, when autistic, oblivious clowns like bankman fried here pulling insane stunts like this with impunity is a strong sign that crypto is very much dead.
@@josephine.1226 The greed and the fakeness of his "effective altruism" nonsense is beyond infuriating. SBF is a prime example of why the "hard work" trope of billionaires is a tired trope that ignores the immense privilege you need for the opportunity for "hard work" to even pay off at all.
You're forgetting that they didn't find themselves in this situation. They set it up precisely BECAUSE they wanted to scam people. You and I would not do that.
@@David-ud9ju I genuinely can't tell if you're serious. But the reason I'm so happy he's found guilty on all charges, is because of how much he denied it and used the cheapest tricks to try and get away. Fainting ignorance is such a shitt behaviour because of how hard it is to definitively prove he's guilty. Is so shitty to say I'm just that dumb when we all know how malicious his actions are and he should be held accounted to them. Him being cough and held charged for all of his shitty actions is such a good feeling, when so often people like him go free.
@@ozthebeeman I don't know if he's malicious or not, all I know is he did nothing different than ALL OF WALL STREET AND THE BIG BANKS DO EVERY DAY, yet he was the only one charged. That's interesting don't you think?
@@YourCapyFrenBigly_3DPipes1999 I 100% agree that him being the only one charged when other were involved is a little sus, and kind of a problem of the American judicial system, yes I know a lot of others co-operated with the law to land Sam in jail, but I still think a bit of time might have been needed, but than again this is one of the first times a crypto fraud was charged fully as a fraud, meaning they really needed to both set an example for others and make sure the law is clear for the next fraud. So them being more interested in landing one singular figure, is 100 understandable. Now for the wall street point, ye I got nothing to say, it's a legit problem in America that it's allowed to reach these levels of shit.
As for donations (EA) , the judge denied the defense ability to discuss donations because, per the Judge, donations had no impact on whether fraud occurred and would potentially confuse jurors.
Which makes sense. Character evidence is generally not allowed in a trial because it's not relevant to the factual determination of whether the person committed the crime.
The thing I don't understand is why they let the others off just because they cooperated when it seems there would have been plenty of evidence without their testimony.
I’m not sure there is a clear cut case without at least one of them. Sam’s whole defense was that he was a victim of his underlings, if you don’t have the underlings then you don’t have the full and correct narrative, which would not work on the prosecutions favor.
As a general rule people who co-operate get lighter sentences. Elisson and Wong cooperated fully and plead guilty. It was also their testimony that prevented SBF from using his defence of being a victim of his employees.
@@AussieRider20 that isn't a vel8d defense. You can't be in charge of a company, collect profits and not be responsible for your underlings actions. Whether you have knowledge or not.
@@jeffshackleford3152 it absolutely can if you're claiming your employees took illegal actions and actively concealed that from you. If he convinced a jury he was ignorant of the fraud other people were perpetrating he may have been found not guilty or at least gotten a hung jury. Maybe you wouldn't accept that as a defence if you're on a jury but all he needed was a few people to believe those claims and he'd have gotten away with what he did
2:55 _"All of these things are bad. And if you've been considering doing any of these things, hopefully you've learnt from Sam Bankman Fried's mistakes."_ SO TRUE. I was seriously considering becoming a fake billionaire and getting a drug addicted girlfriend with a face like a smashed crab, but now I know better! ;)
I hope that Caroline doesn't get off with no penalty. She was the CEO of Alameda, in a position where she could have said no and none of this would have happened unless she was removed.
I hope Caroline and the rest get some decent time too. There should be some consideration for contributing to the investigation, of course, but in the end the only difference between Sam and the other is that they ratted on him. Their crimes are no less egregious, especially hers. A sentence of less than 10 years would be way too light.
Buying the dip isn’t wise in this economic terrain. We’re already seeing savings dwindle this year because of higher prices and the rising costs of paying back debt. We are looking at turning to emergency funds. The festive season is here what moves can an investor make to rack up gains even in bear market?
Government stimulus payments and curbed spending allowed Americans to save more money than they typically do. Annual household income surged in the past 4 years post pandemic, don’t expect it to continue.
Yup excess savings families gathered during the pandemic appears to have run out among middle-income and low-income households. Holidays are coming, which usually means heavy spending for households. I could use a lottery win or a sudden pump from one of my holdings. My trading skills are inadequate.
I’m in a private client group under a certain Monica Mary, a market strategist and Wall Street vet. In a note sent to the group she said that U.S. stocks as represented by the S&P 500 have fallen too far, too fast, clearing a path for the market to rally into the end of the year, and beyond that what was sent out in a note to clients published on Friday
Who is this strategist Monica you talk about? I and my spouse have been looking for something like this especially in this quarter to help us organize our finances going into next year.
I agree, the bearish sentiment gives way to a bullish indicator, you however must plan properly or consult with a professional who has lived through two recessions at least and has a great track record with her clients and no disclosures in the past.
Get 50% off your first order of CookUnity meals - go to cookunity.com/pboyle50 and use my code PBOYLE50 at checkout to try them out for yourself! Thanks to CookUnity for sponsoring this video!
Cooking the books? ;)
Sorry, i enjoy cooking my own meals, no offence.
@@GriffintheelderI have an Advanced Lifestyle Nutritionalist; they come to my house twice a month and inject me with all the nutrients I need so I don't have to waste time on silly things like eating.
I wish that was made up and not an actual scam someone fell for (Young Thug)
Tiffany's link goes to a 404
Most viewers here would prefer dinner with Tiffany. Sorry Patrick.
THANKS FOR HAVING ME ON PATRICK!!! You’re the best 🙏 Patrick is so funny
Best coverage on the internet indeed! Great work on your part! 👏 👏 👏
Thank you so much for your hard work, truly excellent coverage & a masterclass for independent journalists!
Tiffany did an excellent job covering the trial. The talking heads on mainstream media are useless.
probably just me... but the link in the description to your youtube channel does not seem to work
Tell him his link to your channel is broken.
I think SBF's strategy in testifying was to convince people that he was an idiot, not a liar. Seems he forgot a person can be both.
Yeah… looking like a shit liar is worse than just looking like a liar.
You ever met that person who is so smart that they're dumb because they don't live on the same planet as everyone else?
Awesome comment! LOL! 😆🤣
@@sbfcapnj or do dumb things because they consider themselves the sM@rTeSt pErS0n EvaH and anything they thought of couldn't possibly be dumb
Playing dumb was never going to work
I do not understand how he was found guilty. He is a vegan. He would not harm a fly.
Just like Hitler then..
😂😂😂😂😂
That is, mostly, only because flies have no disposable income to deposit in an FTX account.
@@stone-hand - Maybe we good get them to buy NFTs of turds.
Actually, Vegans are the number one cause of deaths for flies.
I was I amazed by how fast he was charged, tried and convicted but then learned sentencing wouldn’t be for 6 months so it brought me back down to earth.
SBF defrauded and stole tons of money from a bunch of very rich, very powerful people. Why would you be surprised at the speed justice was dished out? The problem SBF had was he targeted the rich with his scheme. If he had just targeted the poor like the owners of Multi Level Marketing companies such as Amway does, he could have done this for decades.
Where did you get the 6 month number? DOJ has until March 11 to decide if they will proceed with the second trial. Sentencing is scheduled for March 28, but will probably be pushed until after the second trial should the government proceed with the trial.
@@TheMangoMussolini I thought I saw that sentencing was set for March-April of next year. Close enough to 6 months for me.
@@ducknorris233 OK, four months, give or take a couple of months. I was just wondering why you appeared upset at the sentencing timeline. Ops normal.
@@TheMangoMussolini It might not be a true observation but there seems there. usually and excruciatingly long time before the trial. One side or the other will delay as long as possible. Didn’t this seem fast compared to say Madoff?
I was following Tiffany’s coverage and she has been amazing. As an Australian lawyer living across the pond her reporting has been invaluable. She deserves so much credit.
I was curious, what was the madness for buying crypto in Australia? In Europe was less worse than in the US, but still a major pandemic.
She don't sound aussie at all
@@roc7880I never really got into it but there were definitely a lot of people that were. Not as much as in the US as we didn’t really have a sophisticated method to buy crypto in the early stages but it started picking it up. A lot of banks now won’t permit transfers to certain exchanges now because they consider them risky. We have a more restrictive regulatory environment here than in the US.
@@roc7880Australia has a gambling culture and with cashed up tradies and FIFO workers, crypto was pretty big over here.
I think my favorite part was learning that the display of cash on hand they claimed to have was just a random number generator.
😂
I mean, the fraud loves video games, there’s RNG, sooo…there we go.
That's numberwang! (ref. BBC comedy "Mitchel and Webb" )
@@smillner771That’s totally Numberwang! 😂
"÷ by a billion" 😂
From a guy with over 40 criminal jury trials, and hundreds of bench trials, who spent 19 years in criminal law, I can tell you that everything you and Tiffany describe about Sam is just a classic criminal mentality. He’s got more education than the average street thug, obviously, but they’re really not that far apart.
He’ll never see it, though. That, too, is a part of their blindness.
Their "reality" is NOT the same as their neighbours, even though they live right on the same street. Their brain simply doesn't work that way. I talked to a guy decades ago that spent a decade as a prison guard in one of Canada's long term prisons. He said the same thing as you: the impact of their harm on the person they ripped off, hurt, or damaged simply DOESN:T REGISTER in their brain. You, as a person, don't really exist in their minds.
He's even dumber than your average street thug. He doesnt even know when to shut up and wont even shut up when told to.
because he's "smart". It's amazing to me how so many "smart" people are carrying a huge load of hubris and as a result they look down their noses in disgust at the rest of us. Covid made that blatanly obvious, all those "smart" people looking down their noses and laughing the hillbillies and MAGA people. So are those "smart" people still laughing at the hillbillies and MAGA's?
From a guy who pretends to be a lawyer in youtube comment sections, I can say, I would know more about Sam Bankman's case if I didn't' chronically nap while watching youtube videos.
@bl8388 would you be willing to represent me in the social media court of public opinion? I can pay in crypto
Patrick Boyle's poker face whenever he serves a savage dose of shade is spot on every single time
Love it
Agree. The funniest to me is Patrick being surprised at the 5 hrs deliberation! I am surprised it took that long! The jurors probably couldn't stop laughing 🤣🤣🤣
Yo 😹😹😹
savage! that was the adjective I was looking for!
He even held a straight face when he said that there might be a trial over SBF's campaign contributions that would drag in politicians. That was his finest joke ever.
Tiffany is right-- Sam believes in effective altruism because he thinks he's the smartest person around and therefore knows what should be done with the world. Of course, he didn't even know how to run a crooked business. BUT the other believers in effective altruism are exactly the same.
He's literally a antisemitic trope come to life
Another timeless story comes to an end. When "line goes up" everyone's a genius, when "line goes down" the prison sentences get doled out. Lather, rinse, repeat. Great episode by Patrick (and Tiffany) as always.
Dude just wait 1 year and you'll see him free
Hearing Patrick laugh gave me a sense that humanity might be all fine one day.
theres alot of patricks off the internet. youre choosing to interact with them. just dont do it.
Amen 😂
Old Patty Garret killed Billy the Kid, AKA, William H Bonnet, AKA Kid Antrim, AKA Henry Antrim, AKA the KID
Boyle does not show very much emotion at all. So, maybe.
100% agree with Tiffany Wong's take of Sam's "effective altruism" basically being a god complex regarding capital allocation abilities.
Going on a buying spree like a child that stole parents' debit card hardly quilifies for "capital allocation abilities".
ineffectual Greed.. more like
Self-serving narcissism
@@ciarancassidy7566no, its known as a "charitable narcissist"
One could argue that none of the money he gave away was even his to give: it was his customer's money. If that is indeed the case, then it's easy to give away money that isn't yours (i.e. spend somebody else's money).
Tiffany gave you a big shout out last night when she saw your name on live!! She has been the best and most watchable reporter with this trial! Kudos to both of you!
adore Patrick !!!
I’ve been watching them both. Was fun to see them together!
Fantastic interview. Tiffany is a hero among journalists for getting so much information on this.
Patrick's editor deserves a raise. Top notch memes pair amazing with Patrick's delivery.
PATRICK EDITS THE VIDEOS HIMSELF!!! And makes the images he’s a talent (im being serious)
That's nuts! 😮
She's right, if Ellison manages to skate after setting a mountain of other peoples money on fire through pure idiocy it will be a massive perversion of the criminal justice system.
She’s getting 10 years minimum… probably will serve 90% of the sentence to then get another 5-10 years probation… my 2 cents
She also very clearly was enjoying the fruits of the fraud day to day to day…to skate now would be horrifying. She better at least do a nickel
@wydellbirchwood9146 no way. More like 24 to 48 months, if that.
I don't think she will go free. Even if she is a first time offender, the amounts are so large she will have to be penalized. It's not as if she stole a few hundred or even a few thousand bucks. At the very least she is an admitted criminal.
If I was a ftx customer who lost their life savings, I wouldn't let her walk the streets.
He was never a billionaire. He was spending other people's money.
Sounds like something a billionaire would do.
@@nillomat truuuuuuu
@@nillomatlol
Have you ever heard of OPM, other people's money
He was investing billions from others and was compensated for such services to the level of being a billionaire himself. The amazing part is that he never even set up the corporate structure, like directors, and got as far as he did.
A large part of your charm, Patrick, is your sardonic delivery.
Exactly!! Well said.
What a fabulous summary of Tiffany's incredible trial coverage! High praise indeed from one as esteemed as Patrick Boyle! I'm honoured to be subscribed with notifications on for you both. I can't remember seeing Patrick looking so chill and relaxed and Tiffany looks positively vibrant - - despite a week of nights with two-hours of sleep. Great job Tiffany - Super interview Patrick!! Thank you both!
So. Intelligent, funny, charismatic, beautiful AND humble. That sound you heard was my heart breaking.
Patrick, that post was for Tiffany, sorry. Then again, you have great legs!🙂
I resisted the urge to watch this from any other channel in the last 24 hours. I was hoping you would do something, and you did. Thank you.
Me as well
Same 😂
Same here.
I hope his parents are next in court. His accomplices should not get a small sentence for cooperating, they were as greedy and malicious as sbf. Throwing your boss under the bus to get away with your own crimes is too easy.
Such immense levels of incompetence. We could use a man like that in the public sector.
I'm so glad altruists like these run Russia.
😂😂 we have several!!
Complex criminal ponzi schemes are NOT incompetence.
I'm honestly more curious about the campaign finance stuff and more specifically the extent of his parents' involvement.
Also: It's great that you had Tiffany Fong on, I've been following her everyday of the trial for updates.
My Machiavellian mind tells me there will be an awful amount of silence regarding the unelected and elected officials.
It seems that sbf's father was very involved in ftx, right up until it went bankrupt. And, he was being paid for his work as well. How he is not culpable in some way is beyond me. I would like to see him cross examined in court.
I don't believe we will learn much if anything about donations,the political apparatus protects itself
Love your reporting, Patrick…Thank You, Susan!
Tiffany has provided the best coverage for the SBF trial, hands down, totally agreed! Glad you had her on!
If there’s any evidence that the parents were involved, I’m hoping they go after them also
They definitely have evidence against them via emails and testimony of the FTX and Alamida leadership
"If there's any evidence"?
Have you been paying attention at all? Patrick has a video specifically explaining their level of involvement.
@@pretorious700 just trying to be a little sarcastic.
glad this is a topper reply... also, she and he is linked to... Mister (big guy) aka Joe.. and Mister Clin'Tone down a bit (hill a ree). If I typed it normally my comment would literally shadowban.
🧠 Yep.
The thing about 'effective altruism' is that it's neither effective nor altruism. It's the underlying belief that rather than tax rich people and redistribute wealth, we should trust rich people to know who to give money to instead. Which always ends up being themselves and their friends.
How does taxing it first change anything? All it accomplishes is building a entire layer of government corruption to steal a large portion of it.
Well said.
Tax them and get that money where it belongs! In the hands of the government!
Good observation. 👍
Trickle down economics has been repeatable proven to me a failure but it's still part of economic policy.
I only discovered her about a week ago, her coverage has been fun for me. Cant believe she made it to Patrick! Whooo
Best coverage, no doubt, Thx Tiffany ❤
What are the odds mom and dad get hauled into court for their roles? Brother too.
It would be harder, but I'm sure a good investigation team could find some crimes done by them.
I think it's unlikely given they are not big fish, probably not worth the time especially if Sam is locked up for a long time, he will never enjoy their money.
@@MISTAKEWASMADE4live still part of how he enriched his family with political donations funneled through mom’s Mind the Gap PAC and sketchy pandemic foundation which received $35 million and is managed by his brother.
If mom figured large in the political donations and crossed a legal line, then maybe she’d come into play in that part of the second trial.
The FTX liquidation team is suing the parents.
@@priola7587I’m thinking the prosecution won’t bring more charges unless the sentence is extremely lenient as those who received political contributions were high up in the Administration up to the President’s campaign. They probably don’t want to go there.
He guaranteed a conviction with all the interviews he did after the collapse of FTX. This is why any lawyer worth a damn will tell you to keep your mouth shut. You do not help the prosecution build their case against you.
His lawyers begged him to keep his mouth shut, so don't blame them. Their problem is that their client was a super-genius (in his own mind)
He fooled regulators, so he must have figured he could fool everyone..
@@bmay282he didn't fool them, he bought, I mean captured, them.
I think in this case the evidence was overwhelming anyway. You’d have to be a cult member not to see they were guilty as sin.
@@PeacockRhino It's a jury trial. Guilty people have walked, and innocent people got sent to the slammer by appealing to the emotions of the jury in one way or another. One of the worst things you can do is being flippant and arrogant, that pretty much guarantee that a jury is going to be harsh against you. SBF? He practically oozed "I'm better than you and I know it" energy in those interviews.
I love the fact Zekes book was used by the prosecutor on the stand, to remind SBF what he previously said💜
AND the defense tried to use Michael Lewis’s book to show intent and the judge overruled allowing it into evidence. Even the judge knows the book is a pandering piece of horse*#%%.
Thank you for featuring Tiffany: her coverage has been invaluable
I found Tiffany through her coverage of the SBF trial and she's been so great! You and she have very similar senses of humour which I really enjoy 😊
I really enjoy your show and recently starting watching Tiffany. Shes suchba down to earth person with her hilariously natural delivery. Learning of the friendship between you both is a sigh of relief for normal decent humans after the deluge of disgust i was left with hearing those nonchalant little crooks casually talk of 9 figures like it was all peanuts.
Great show.
Well done to you both.
❤ Patrick is the best kindest human!!!
First mistake is that he didn't have an exit strategy. Look at Carlos Ghosn, he had mercenaries smuggle himself out of Japan back to Lebanon, a non-extradition country with Japan. That's the level of preparation SBF should've had if he's actually smart.
Sam's ego made him careless.
Carlos didn't have that planned ahead of time, that plan was made after the facts. But Carlos didn't pay for the job.... extradiction or not, he will be in trouble soon.
@@mikatu You think he just dial up some mercenaries? He probably scouted out those people as his last resort long ago. The escape planning is what he paid the mercenaries to figure out. Also he paid $1.3 million to the mercenaries allegedly, so the mercenaries got their money. If SBF was smart, he probably could've had mercenaries break them out of jail while he's being held in Bahamas.
SBF had a god-complex. He was invincible in his own mind - until he wasn't. A 6 year old in long trousers. Ghosn was being setup to take the fall, and from his part of the world, you always hire private security firms who know people.
Two Americans veteran's are caught by FBI who helped Carlos in escape to Lebanon were bought to Japan.
They were sentenced 35 years. 5 years less if they show good behavior.
Those two Americans are father and son, they threw away their life only for nearly 800k usd
Parents were in control of everything. They are soo much more guilty.
I agree they were a whole lot more involved than they want to admit.
Good videos from you both during the trial....thanks for all the effort! I've looked forward to seeing both of your posts over the last few weeks. Great Job!
Brilliant. Better than any news channel by a mile. Thankyou both.
If only the law wasn't so biased against the rich, I'm sure Sam would have started fixing the world after he had just bought another couple dozen homes and a few yachts smh 😔
Haha 😂
And moved all his money to a Swiss Bank
I followed both Tiffany and Carly throughout the trial and they did an excellent job, huge thanks to them.
Great wrap up Patrick, and great for having Tiffany on as I've spend my evenings with her over the past 5 weeks 😂.
Caroline should get at least 70% of whatever sentence SBF gets the others I'm sort of on the fence on the others.
Kudos you two.
I hope you both collab more often.
Her sentence should be in proportion to her salary ..
I hear Patrick laughs and see him smile. I will let that sink in for a bit. Great presentation by both of them!
I have loved this excellent interview. So engaging. I love the look of incredulity on the young lady's face as she recounts the court's activity. ❤❤ Really a wonderful watch. That you for posting this.
Honestly, I think the parents should be held liable to the maximal amount they can be. They're complete sociopaths who raised a broken mess of a manbaby who probably learned to cheat his way through everything in life.
Dude what they were running the whole show I'm sure. Screw raising they should be held liable if they helped in any way which let's be real they did
They were accomplaces, not just responsible for raising him.
@@ykonratevYes, the parents were accomplices and helped him mastermind the scam.
They enriched themselves quite a bit thru him
They used their son to profit greatly while keeping their hand clean. Sam's father looks to have been the main voice in Sam's ear, telling him what to do.
Very cool to see Tiffany interviewed on your channel! I agree with you that his "effective altruism" was a scam. He thought he could acquire an infinite amount of money and dole it out all himself.
selffective altruism.🤑
An infinite amount? That's a bit paltry isn't it? I think he wanted much more than that .... 😂
@@richardconway6425 Yes, infinite. His former attorney Dan Friedberg helped a client create a "God mode" to scam poker players. I think Scam Bankrupt Fraud thought he could play God, too, and dominate currency, but like the Wizard of Oz it turns out Scam Sam is only a man.
SBF's dad seems particularly close to things at FTX, that has to make them worried now. Couldn't resist the lure of easy money I guess.
I agree ! At a minimum they were complicit in wire fraud.
They will get their subpoenas soon enough I think
Hope they get their just desserts...🎉
Political contributions were moms jam. Didn’t she run a PAC he donated to?
$16 million dollar piece of Bahamian property IN HIS PARENTS' NAME.
WHATTTTT?...You are the bomb Patrick, loved that you had the Tiff on and enjoyed the recap on the SBF trial.
Let’s hope there is a second trial where the political donations and receivers are featured .
Also a trial where his parents are indicted.
Patrick's deadpan delivery of punchlines reminds me of the actor Leslie Nielsen (Dracula: Dead and Loving It, Airplane!, Naked Gun, Spy Hard).
The Numberwang reference is both hilarious and utterly fitting. That’s Numberwang!
😂😆
almost surprising, in this uber corrupt world, but glad to see scammers go down! thanks Patrick!
Its surprising less corrupt than most people believe.
The corruption is more common in government, and truly insidious in school boards and home owners associations.
I really appreciate how you can come up with detailed talks about recent events, thank you. I like these interviews as well and would appreciate more content like this. Your recent interview was great too.
Great video, Patrick, as always. Tiffany's description of Sam is very convincing to me. I didn't go to Stanford, but I went to an elite engineering school in Brazil, and the mentality there is exactly what she describes.
They believe the years they spent preparing for the selection process makes them a different breed, which makes it almost impossible for you to say anything bad about what's going on there.
Professors have no idea what they're talking about in class? No problem, we're amazing, everything will be sorted out. Your classmates don't do anything and graduate from Computer Engineering without knowing how to code? Don't worry, we'll be fine, just don't tell anyone or else our reputation will be tarnished. Professors and grad students fake data to publish in journals, and people steal money from donations? Hey, don't be toxic. Everyone deserves a second chance.
Expectations there are extremely high, we all grew up thinking we'd be the genius wunderkind we saw on TV. Some of us, though, when confronted with evidence that things were much more complicated than it was shown to us, eventually grew out of it and are working honestly. Others, like Sam, chose to go the other route and create these fake companies. I guess they'll now have to answer for it...
Your savage burns in this monotone delivery just make me burst out laughing. 10/10
The description of Sam’s perspectives and reasons for believing in effective altruism actually matches virtually every believer of effective altruism I’ve ever met.
EA really feels like "just trust me bro" with handwavy math terms mixed in.
"Effective altruism" is exclusively a cover story. You can't become a billionaire in under a decade without doing some incredibly shady things but fortunately someone developed a utilitarian ideology to conveniently explain everything away as being done for "the greater good". In this case, the greater good as a gaggle of millennial meth addicts would conceive it.
God complex
All Altruism is inherently irrational, an anyone who engages in it is an irrational actor and should be kept out of ones own orbit.
Prosperity gospel for atheists
Glad to see Tiff on here! She was such a trooper throughout the trial, bringing us timely updates. I hope she can get some rest this weekend! Side note, SBF is actually a terrible gamer -- he is a poser, just like he was with the budget car.
He is like an idiot teenager who has nothing to do and play games mindlessly whole day from his parents basement.
I heard that AOC is better than him at League of Legends, not sure where I heard that, might have even been Patrick's channel at some point
Great show as always. Real information not sugar coated. And the banter is always great, like three buddies making fun of each other like buds do.
Tiffany and Patrick at once, my two favorite finance youtubers in one place :O
Sir Patrick I’ve enjoyed all of your material and the dry wit you display. Great interview and Ms. Tiffany was fabulous. Appreciated all the candor and wish you both the best moving forward. Cheers!
As a starving child in Africa, I can confirm that I have NEVER received a loaf of bread from SBF.
Can we talk about how CLEAAAAAAN Patrick's kitchen is?
My man looks sharp and keeps his place even sharper
He's an ex super trader, what else to expect 😂
You two have great chemistry I hope some time to see more chat like this!
When he was asked questions from his lawyer it was well thought out and he remembered everything. When asked during cross examination he suddenly couldn't remember anything! Hahaha
Let's see for how long he stays in prison. We know very well how that goes.
@@found13she was facing 20 years but got 10 , my friend
Maybe he'll go to Epstein Island prison? 🤔
If they don't take all his money, he has enough to stay at a luxury jail
@@found13Holmes got pregnant with a baby specifically to reduce her sentence. It's not the baby's fault she was born only for sentence reduction purposes so the judge can't sentence her to be in prison for the entirety of the baby's childhood. Thankfully SBF is not a daddy.
@@flashoflight8160can't he just identify as an indefinitely pregnant person?
Amazing collab @TiffanyFong and @PBoyle! Please cover more in March 2024.
Great video. Tiff was my main source on the trial and I loved her reporting. Thanks for having her on.
You two have great rapport without it getting in the way of the flow of the facts and information, and Tiffany is clearly so deep in the trial that she could answer pretty much any question about SBF in her sleep. Great guest choice.
Glad to see you both team up. This is fun and informative! 👏🏻👏🏻
I'm still absolutely astonished how stupid SBF and the rest of these people are. If I was given even 10% of the the opportunity they have had I would behave in the exact opposite way - completely paranoid that the code handling deposits didn't have any bugs and NOBODY in the organisation was able to steal money from people. I would add multiple layers of checks and assume that people inside the org could be malicious, incompetent or both and attempt to guard against it. It's extremely irritating that people of such poor character get so much money thrown at them to build businesses like this.
It really makes it look like the whole purpose od ftx was to acquire funds from rubes so it could be funneled to Alameda and other investments.
I felt exactly the same way. This is most reasonable comment here. For me, little street guy who started from nothing, what You wrote is obvious. What sbf did feels like complete absurdity.
Ftx inspired me to sell all my crypto not seized by feds and never return to it, when autistic, oblivious clowns like bankman fried here pulling insane stunts like this with impunity is a strong sign that crypto is very much dead.
@@josephine.1226 The greed and the fakeness of his "effective altruism" nonsense is beyond infuriating. SBF is a prime example of why the "hard work" trope of billionaires is a tired trope that ignores the immense privilege you need for the opportunity for "hard work" to even pay off at all.
You're forgetting that they didn't find themselves in this situation. They set it up precisely BECAUSE they wanted to scam people.
You and I would not do that.
Thanks TIff, great job!
Tiffany Fong is excellent. I have three TH-cam casters I listen to for insights; you of course Patrick (I’m not even Liberian), CoffeeZilla and Tiff.
Patrick, your are simply the best, absolutely love the humor talking about serious issues. Keep the videos coming and keep up the great work.
His parents were part of this and should also be held responsible.
I was following Tiffany’s coverage during the trial, she did a fantastic job.
So awesome you brought Tif on. You two are my absolute favorite!
Very much enjoy watching Patrick. Insightful, balanced and accurate. Well done.
I've never been happier to hear the words "guilty on all charges"
Why?
@@David-ud9ju I genuinely can't tell if you're serious.
But the reason I'm so happy he's found guilty on all charges, is because of how much he denied it and used the cheapest tricks to try and get away. Fainting ignorance is such a shitt behaviour because of how hard it is to definitively prove he's guilty.
Is so shitty to say I'm just that dumb when we all know how malicious his actions are and he should be held accounted to them.
Him being cough and held charged for all of his shitty actions is such a good feeling, when so often people like him go free.
All this does is warn amateurs off from playing with the "big boys"
You need to get real first and foremost. Soreeeee 😮
@@ozthebeeman I don't know if he's malicious or not, all I know is he did nothing different than ALL OF WALL STREET AND THE BIG BANKS DO EVERY DAY, yet he was the only one charged. That's interesting don't you think?
@@YourCapyFrenBigly_3DPipes1999 I 100% agree that him being the only one charged when other were involved is a little sus, and kind of a problem of the American judicial system, yes I know a lot of others co-operated with the law to land Sam in jail, but I still think a bit of time might have been needed, but than again this is one of the first times a crypto fraud was charged fully as a fraud, meaning they really needed to both set an example for others and make sure the law is clear for the next fraud.
So them being more interested in landing one singular figure, is 100 understandable.
Now for the wall street point, ye I got nothing to say, it's a legit problem in America that it's allowed to reach these levels of shit.
So much great deadpan humor here while dealing with a serious subject. As usual.😄
As for donations (EA) , the judge denied the defense ability to discuss donations because, per the Judge, donations had no impact on whether fraud occurred and would potentially confuse jurors.
Which makes sense. Character evidence is generally not allowed in a trial because it's not relevant to the factual determination of whether the person committed the crime.
Thanks for the great courtroom analysis! Great video!
Wonder if anyone has done the math on how many centuries of customers labor SBF reduced to zero.
The thing I don't understand is why they let the others off just because they cooperated when it seems there would have been plenty of evidence without their testimony.
I’m not sure there is a clear cut case without at least one of them. Sam’s whole defense was that he was a victim of his underlings, if you don’t have the underlings then you don’t have the full and correct narrative, which would not work on the prosecutions favor.
As a general rule people who co-operate get lighter sentences. Elisson and Wong cooperated fully and plead guilty. It was also their testimony that prevented SBF from using his defence of being a victim of his employees.
Nope. There would not have been.
@@AussieRider20 that isn't a vel8d defense.
You can't be in charge of a company, collect profits and not be responsible for your underlings actions.
Whether you have knowledge or not.
@@jeffshackleford3152 it absolutely can if you're claiming your employees took illegal actions and actively concealed that from you. If he convinced a jury he was ignorant of the fraud other people were perpetrating he may have been found not guilty or at least gotten a hung jury.
Maybe you wouldn't accept that as a defence if you're on a jury but all he needed was a few people to believe those claims and he'd have gotten away with what he did
😂 I love how informative and smartly sarcastic the host is ….I just love it !!!!!!!
Love the detailed reporting and the dry humor! Keep up the great work!
Great job Patrick and Tiffany
2:55 _"All of these things are bad. And if you've been considering doing any of these things, hopefully you've learnt from Sam Bankman Fried's mistakes."_
SO TRUE. I was seriously considering becoming a fake billionaire and getting a drug addicted girlfriend with a face like a smashed crab, but now I know better! ;)
Lol
Lol
But.. but.. but.. he'll be out in 15 years. 😂
I never thought Patrick and Tiffany would ever be on the same show.
Beauty and the beast 💕
I hope that Caroline doesn't get off with no penalty. She was the CEO of Alameda, in a position where she could have said no and none of this would have happened unless she was removed.
Patrick, thanks so much!
What a wholesome interview. You're both great together!
@Textnow_PatrickBoyle. Nice try. Reported and blocked.
What a thrill ride this all is. And what great storytellers patrick and tiff are!! Better than a movie 🍿🍿🍿
Tiffany is so charismatic, wow.
Really, it looks and sounds weird to be laughing during parts that aren't even funny. Lol. Looks forced
I hope Caroline and the rest get some decent time too. There should be some consideration for contributing to the investigation, of course, but in the end the only difference between Sam and the other is that they ratted on him. Their crimes are no less egregious, especially hers. A sentence of less than 10 years would be way too light.
Tiffany was great! You are too Patrick!
Dude! Awesome report from you both!
Thank you!😁
Imagine the shitstorm when Tether fails just like the FTX did
amen. that would probably be in the next bear market.
Buying the dip isn’t wise in this economic terrain. We’re already seeing savings dwindle this year because of higher prices and the rising costs of paying back debt. We are looking at turning to emergency funds. The festive season is here what moves can an investor make to rack up gains even in bear market?
Government stimulus payments and curbed spending allowed Americans to save more money than they typically do. Annual household income surged in the past 4 years post pandemic, don’t expect it to continue.
Yup excess savings families gathered during the pandemic appears to have run out among middle-income and low-income households. Holidays are coming, which usually means heavy spending for households. I could use a lottery win or a sudden pump from one of my holdings. My trading skills are inadequate.
I’m in a private client group under a certain Monica Mary, a market strategist and Wall Street vet. In a note sent to the group she said that U.S. stocks as represented by the S&P 500 have fallen too far, too fast, clearing a path for the market to rally into the end of the year, and beyond that what was sent out in a note to clients published on Friday
Who is this strategist Monica you talk about? I and my spouse have been looking for something like this especially in this quarter to help us organize our finances going into next year.
I agree, the bearish sentiment gives way to a bullish indicator, you however must plan properly or consult with a professional who has lived through two recessions at least and has a great track record with her clients and no disclosures in the past.