FTX

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The lack of controls here is like, I mean, shocking even to our own perspective. You probably would not be a successful exchange. And so all the people who were like reasonably running these businesses with proper controls were effectively competed out by actually being good at their job. The thing you were supposed to do is what got you in trouble in terms of growth and then FTX picked you up or the business collapsed and here we are.

In the 42nd episode, Zach Weinberg returns to have everything he’s said about crypto suddenly proven right. Logan and Zach break down FTX, DeFi, SBF and venture’s role in it all. Plus why you can’t spot a successful company in finance like you can in tech, what makes a smart founder, and Rashad joins to help recap the last week of Elon and Twitter.

(0:00) Intro

(2:02) This week on Twitter

(10:01) The FTC

(13:41) What’s next?

(21:37) Other social platforms

(23:57) Welcome back Zach Weinberg

(27:56) Zach’s take on FTX

(43:17) Smart people don’t get rich quick

(44:52) Venture’s culpability

(51:35) Interest rates

(54:48) Would DeFi have been better?

(1:01:23) End of Web3?

(1:07:43) Outro

Show Notes:

https://milkyeggs.com/?p=175

https://forum.effectivealtruism.org/posts/xafpj3on76uRDoBja/the-ftx-future-fund-team-has-resigned-1?commentId=hpP8EjEt9zTmWKFRy

Mixed and edited: Justin Hrabovsky

Produced: Andrew Nadeau and Rashad Assir

Executive Producer: Josh Machiz

Music: Griff Lawson

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About the Show

A Saturday morning podcast hosted by Logan Bartlett (Partner and Managing Director at Redpoint Ventures) covering the tech news with his friends and other people with industry expertise.

Executive Producer: Rashad Assir

Producer: Leah Clapper

Mixing and editing: Justin Hrabovsky

Check out Unsupervised Learning, Redpoint's AI Podcast: https://www.youtube.com/@UCUl-s_Vp-Kkk_XVyDylNwLA

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About the Show

Logan Bartlett is a Software Investor at Redpoint Ventures - a Silicon Valley-based VC with $6B AUM and investments in Snowflake, DraftKings, Twilio, and Netflix. In each episode, Logan goes behind the scenes with world-class entrepreneurs and investors. If you're interested in the real inside baseball of tech, entrepreneurship, and start-up investing, tune in every Friday for new episodes.