Equity SBF's sentencing, Databricks' GPT rival, and who's investing in the "underdog" founders
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Mar 29, 2024 This week brings a deep dive into the sentencing of former FTX CEO Sam Bankman-Fried, with discussions on its implications for future financial misconduct. The crew explores Robinhood's new credit card and its significance in the fintech landscape. They also analyze the struggles facing Fisker versus the advancements at Databricks, which has launched an enterprise-focused generative AI model. Plus, innovative startups targeting children's creativity and sustainability are highlighted, showcasing the evolving landscape of diverse founders.
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SBF's Sentencing
- Sam Bankman-Fried received a 25-year prison sentence for fraud and money laundering at FTX.
- This is less than the maximum 110 years but more than his lawyers' requested seven.
Robinhood's Strategy
- Robinhood launched a new credit card, the Robinhood Gold Card, offering 3% cashback on all purchases.
- This cashback can be invested in brokerage accounts, resembling features of other fintech cards.
Fisker's Troubles
- Fisker is facing severe financial and operational challenges, including losing track of customer payments and a failed deal with Nissan.
- These issues triggered an internal audit and a stock drop of 28%.