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Masters in Business
Matt Levine on Money and Stuff
Jan 4, 2024
Matt Levine, Bloomberg Opinion columnist and author of Money Stuff, discusses his journey from investment banker to writer. Topics include insider trading, retail investors in the meme stock era, Elon Musk's interest in buying Twitter, the origins and evolution of Money Stuff, and reflections on the world of finance.
01:01:53
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Quick takeaways
- FTX's downfall was due to factors such as commingling funds and questionable margin practices.
- Matt Levine's writing style incorporates humor and a nerdy, confident tone as he explores the ironies and absurdities of modern business and finance.
Deep dives
FTX and the Rise of Crypto Exchanges
FTX, a well-run crypto exchange, caught the attention of many with its aggressive ideas for changing the structure of derivatives margin. Matt Levine saw potential in FTX's plan to consume the regular financial system, tokenizing stocks and becoming the main exchange for the world. However, the recent downfall of FTX was due to factors such as commingling funds and questionable margin practices. While FTX was initially profitable and had interesting strategies, issues with affiliated hedge funds eventually led to its downfall.
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