Guilty Verdict and the End of the Crypto Era

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S.B.F. Sam Bankman-Freed was found guilty on all charges for stealing $8 billion from customers. He faces multiple charges including wire fraud, securities fraud, commodities fraud, and money laundering conspiracy. Extradited from the Bahamas, other charges will be settled in a different court case. Sentencing is on March 28th, 2024, with a possible 115-year prison sentence. Judge Kaplan seemed annoyed at S.B.F. during the trial. This marks the end of an era for cryptocurrencies. Additionally, WeWork goes bankrupt, making it an extraordinary week with significant events happening within five days of each other. It's like poetry that things happen in threes, and now Uber is profitable.

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Today’s show:

First up, Jason takes on the news solo by breaking down Uber's Q3 earnings (2:23), reflecting on SBF's guilty verdict (13:39), and giving some takes on Biden's EO on AI (15:53). Then, Motive CEO John Habeck joins to break down building "Shopify for Car Dealerships" (21:39).

Time stamps:

(0:00) Jason kicks off the show

(2:23) Uber earnings report and Uber’s profitability

(12:17) Squarespace - Use offer code TWIST to save 10% off your first purchase of a website or domain at https://Squarespace.com/twist

(13:39) SBF’s guilty verdict

(15:53) Takes on Biden's executive order on AI

(20:11) House of Macadamias - Get a free month's supply of Macadamia Milk with any order at https://houseofmacadamias.com/twist by using code TWIST20!

(21:39) Motive CEO John Habeck discusses building a startup in a "sleeping giant" industry

(32:18) CLA - Get started with CLA's CPAs, consultants, and wealth advisors now at https://claconnect.com/tech

(33:17) Understand the TAM for "Shopify for Car Dealerships”

Referenced in the podcast:

https://s23.q4cdn.com/407969754/files/doc_earnings/2023/q3/earnings-result/Uber-Q3-23-Earnings-Press-Release.pdf

https://www.whitehouse.gov/briefing-room/presidential-actions/2023/10/30/executive-order-on-the-safe-secure-and-trustworthy-development-and-use-of-artificial-intelligence

https://www.businessofapps.com/data/uber-statistics

https://twitter.com/EconomyApp/status/1721899291248324642

Check out Motive: https://www.ridemotive.com

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