The FTX Disaster--How Does It Affect Tech?
Over the Thanksgiving holiday, Tom Hatch saw a fantastic new movie called "Glass Onion". One of the main themes of this movie is that an awful lot of the professionals working in the tech industry aren't nearly as smart as everybody thinks they are. Tom says that is very much the case in the real world, as well! The most recent example of this is a crypto-currency exchange company called FTX. Somehow this company and its owner, a guy named Sam Bankman Fried managed to lose 16 billion dollars in crypto, literally overnight! How is it possible for something like this to happen? Will a disaster like this, have a large, negative effect on the tech industry as a whole? Chunga has some opinions, Tom has some observations, and he also has some predictions about how things will shake out. Here's a hint, it's not good! Listen NOW! Idem Project is new and very cool! Learn more! Join the Salt Project Community!