How Different Is This From a Bullshit Market?

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How different is this to any other market collapsing? We just showed a graph of 91% down all these tech stocks, right? Now those tech stocks are real companies with real customers and products. They're not like worth zero in terms of creating value. But that one was VC back companies. And it was about getting a seed round in series A series being each round. If you're the lead investor, you got to be in there to signal to the market. And then you just want to keep growing. You could make an argument that even though they're real assets and real companies, they were just playing a different game of a bullshit essentially pyramid scheme.

The NIA boys react in real-time to one of the craziest days in crypto history. Play-by-play discussion on FTX collapsing & CZ's 10D chess moves.

Timestamps:

(00:00:00) - Intro + Meme Of The Week
(00:06:50) - FTX Collapse - Play by Play
(00:19:43) - Alameda Blow Up
(00:21:30) - Autism Capital's Tweet
(00:23:21) - Jack's Take on CZ's Move
(00:27:06) - Tech Stocks Collapse
(00:29:54) - Did SBF "Do The Right Thing By Customers?"
(00:34:11) - Binance Estimated Valuation at $300B
(00:39:04) - How Misallocated Were Customer Funds?
(00:43:00) - Revisiting Earlier Predictions On Crypto (2021 vs 2022)
(00:46:39) - "Jail Isn't That Bad" - Martin Shkreli to Do Kwon
(00:47:33) - Big Tech Layoffs
(00:51:06) - Crypto Marketing & BS
(00:54:44) - Has Anything Changed?
(00:59:18) - Crypto Collapse vs Market Collapse

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