122: Guilty! Sam Bankman-Fried & the FTX Collapse - With Michael Lewis

Money Maze Podcast

Business, Investing, Management, News, Business News

4.8 • 216 Ratings

🗓️ 7 December 2023

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

If you don’t know about his most recent book ‘Going Infinite’, you’ll probably want to buy it after listening to or watching this episode with Michael Lewis, author of multiple books and associated films, including 'The Big Short', 'Moneyball', 'Flash Boys', 'The Blind Side', 'Liars’ Poker', and more.

In this interview, with co-host Ravi Joseph, we start out with Liar’s Poker and the wild west of the Salomon Brothers trading floor.

Then, picking up from where we left off from our interview 18 months earlier, we probe why Michael had suggested that crypto might be his next subject.

He describes the ascent and collapse of Sam Bankman-Fried. We hear how despite writing that “everything about him [SBF] was peculiar”, Sam develops a magnetism that attracts politicians, celebrities, and financiers alike.

Michael describes the fault lines, the failings and even feedback from speaking to him recently in prison, awaiting sentence. A fantastical tale and fabulously fun conversation.

The Money Maze Podcast is kindly sponsored by Schroders, Bremont Watches, LiveTrade and IFM Investors.

Transcript

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0:00.0	He seemed utterly transparent, radically transparent.
0:04.4	Deeply interested, it seemed, in turning crypto into a legit, regulated, honest enterprise
0:09.9	so that the regulators wanted there to be a Sam.
0:12.7	Washington wanted there to be a Sam.
0:14.9	There was this Sam Beckman-Fried-shaped hole in the world that I don't think he knew existed
0:19.9	until he found himself in it.
0:22.8	Welcome to the Money Maze podcast. I'm Simon Brewer, and Will Campion and I have created this
0:28.5	show to explore and unravel some of the mysteries surrounding the investment business.
0:33.0	You can keep up to date by visiting MoneyMayspodcast.com and please sign up to our newsletter
0:38.2	to ensure you won't miss a release. If you enjoy this show, please subscribe and we'd love you to
0:43.5	tell a friend or colleague about it. Thank you for listening.
0:47.6	Welcome to this pre-Christmas edition of the Money Mace podcast. It's 5 o'clock here in
0:52.7	London. It's 9 a.m. in California. We're closer to
0:56.6	having a glass of wine than our guest, but we're here with one of the world's great storytellers.
1:02.7	If you don't know about his most recent book, Going Infinite, for those who are watching us on
1:07.8	YouTube, you probably want to buy it at the end of this conversation.
1:11.7	But you'll know or have watched his films and his books, The Big Short, Moneyball, Flash Boys,
1:17.1	the Blindside, Liars Poker, and many more. But it all started back in 1985.
1:23.7	And in the interview I did with Michael Lewis 18 months ago, I was faced with the realization
1:29.2	that when I thought that he and I, both then at the LSE, soon to graduate, competing for a job
1:36.2	at Salomon Brothers, which I lost because I thought I wasn't good enough, you Michael revealed
1:41.6	you'd in fact charm the wife of a managing director at dinner,
	...

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