The fraud that has taken place behind the scenes with a lack of visibility and a lack of regulation around crypto is going to be greater. The thing about the subprime crisis is it took down the economy, but no one went to jail. This will be different. I think people will go to jail, but it won't take down the economy. We'll be back on Friday for Scott Galloway's first birthday party.
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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