2min chapter

The Circuit with Emily Chang cover image

Benchmark’s Bill Gurley on VC Hustle Culture

The Circuit with Emily Chang

CHAPTER

How FTX Collided in 24 Hours

FTX is the perfect pinnacle of this past one, where a bunch of legendary investors have made five catastrophic risk assumptions. And unfortunately, because the money flows come in so easily, they're hard to go out. When that when that bubble finally burst, it's usually ugly and it happens fast. Risk on a slow silicon valley bank collapsed in 24 hours.

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