US regulators are circling FTX investigating whether the firm properly handled customer funds. A more loss of trust in crypto would have been similar again to B of A's bailout of Merrill Lynch, except that B of A was later bailed out by Uncle Sam. And this just shows the risk of putting your money in a trustless ecosystem.
Kara and Scott dissect what the FTX meltdown means for cryptocurrency, Meta's layoffs, and how the midterms might impact big tech. Friend of Pivot Jonathan Haidt stops by to talk about the impacts of social media on teens and society. And hours after our regular taping, we dragged Scott out of a fancy London bar to record an updated reaction to the latest Twitter news: Elon Musk was warning of a possible Twitter bankruptcy, while top executives were jumping ship.
You can check out more of Jonathan Haidt's work here.
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