Lakani engaged in a fraudulent scheme to propel head spin's valuation to over one billion dollars by falsely inflating the company's key financial metrics. He was instructing employees to include revenue from potential customers that inquired but did not engage head spin. In other words, this idiot, criminal moron was lying three different ways, at least that's how they caught him.
In the news segment, Jason covers unicorn SaaS Startup called HeadSpin has been accused of a massive fraud by the SEC and DOJ (2:06), and Pacaso real estate startup offering fractional ownership of vacation homes is causing outrage in wine country (17:35). Then, Jason interviews Not Boring's Packy McCormick (34:41), about his time at WeWork competitor Breather (36:14), turning his newsletter into a venture fund (59:12), and Packy's vision for crypto - it's one of the best explanations we've heard (1:03:17).