title
The David Rubenstein Show: Sam Bankman-Fried

description
Sam Bankman-Fried, CEO and co-founder of crypto exchange platform FTX, talks about the volatility around Bitcoin, bailing out other crypto companies and why he's not into luxury items. He speaks on "The David Rubenstein Show: Peer-to-Peer Conversations," recorded on August 17 in New York. -------- Like this video? Subscribe to The David Rubenstein Show on YouTube: https://www.youtube.com/channel/UCqsN9MYiu1mKSAsYoF6ppTg Watch the latest episodes of "The David Rubenstein Show: Peer-to-Peer Conversations" here: https://www.bloomberg.com/peer-to-peer Learn more about David: http://www.davidrubenstein.com/ Connect with us on... Twitter: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: https://www.instagram.com/bloombergbusiness/

detail
{'title': 'The David Rubenstein Show: Sam Bankman-Fried', 'heatmap': [{'end': 1440.215, 'start': 1430.819, 'weight': 1}], 'summary': "Sam bankman-fried's transition from investor to philanthropist, ftx's use of corporate cash for industry bailouts, alameda research's challenges without venture capital funding, ftx's expansion and the influence of campaign contributions on policy, including potential presidential campaign engagement and future interest in ai.", 'chapters': [{'end': 71.694, 'segs': [{'end': 71.694, 'src': 'embed', 'start': 32.987, 'weight': 0, 'content': [{'end': 33.768, 'text': 'I said, fine.', 'start': 32.987, 'duration': 0.781}, {'end': 34.808, 'text': "I didn't negotiate with him.", 'start': 33.788, 'duration': 1.02}, {'end': 35.969, 'text': 'I did no due diligence.', 'start': 34.848, 'duration': 1.121}, {'end': 38.931, 'text': "I have something I'd like to sell and how they stay there.", 'start': 36.209, 'duration': 2.722}, {'end': 43.113, 'text': "You don't feel inadequate now, because being only the second wealthiest man in the world, is that right?", 'start': 39.331, 'duration': 3.782}, {'end': 50.518, 'text': 'One of the most successful entrepreneurs in the world of cryptocurrency is Sam Bankman Freed.', 'start': 46.075, 'duration': 4.443}, {'end': 53.26, 'text': "He's created the FTX platform,", 'start': 51.259, 'duration': 2.001}, {'end': 59.325, 'text': 'and that platform has been so successful in the cryptocurrency world that Sam has become one of the wealthiest men in the world.', 'start': 53.26, 'duration': 6.065}, {'end': 63.328, 'text': "As a result of this he's now focusing a lot of his energy on philanthropy.", 'start': 59.825, 'duration': 3.503}, {'end': 71.694, 'text': 'I sat down with him at the Bloomberg headquarters in New York recently to talk about the future of crypto and his desire to change the world and make it a better place.', 'start': 63.828, 'duration': 7.866}], 'summary': "Sam bankman freed, creator of ftx platform, now among world's wealthiest, focusing on philanthropy and future of crypto.", 'duration': 38.707, 'max_score': 32.987, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw32987.jpg'}], 'start': 8.752, 'title': 'Transitioning from investor to philanthropist', 'summary': 'Delves into the shift from being an investor to a philanthropist, featuring insights from interviews and experiences, including the creation of a successful cryptocurrency platform and a move towards philanthropy.', 'chapters': [{'end': 71.694, 'start': 8.752, 'title': 'Lessons from investor to philanthropist', 'summary': 'Discusses the transition from being an investor to a philanthropist, highlighting insights from interviews and experiences, including the creation of a successful cryptocurrency platform and a shift towards philanthropy.', 'duration': 62.942, 'highlights': ["Sam Bankman Freed's successful creation of the FTX platform has made him one of the wealthiest individuals in the world of cryptocurrency.", 'Transitioning from private equity to philanthropy, the interviewee emphasizes the importance of making a positive impact on the world and discusses the future of cryptocurrency.']}], 'duration': 62.942, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw8752.jpg', 'highlights': ["Sam Bankman Freed's successful creation of the FTX platform has made him one of the wealthiest individuals in the world of cryptocurrency.", 'Transitioning from private equity to philanthropy, the interviewee emphasizes the importance of making a positive impact on the world and discusses the future of cryptocurrency.']}, {'end': 489.034, 'segs': [{'end': 113.301, 'src': 'embed', 'start': 74.136, 'weight': 5, 'content': [{'end': 77.437, 'text': 'So is crypto down for the count or is it coming back.', 'start': 74.136, 'duration': 3.301}, {'end': 78.797, 'text': "I think it's coming back.", 'start': 77.877, 'duration': 0.92}, {'end': 82.018, 'text': 'And obviously a lot of this is just going to have to do with the macro environment.', 'start': 78.937, 'duration': 3.081}, {'end': 86.078, 'text': "You know if we see markets crash again we're going to see crypto crash along with it.", 'start': 82.418, 'duration': 3.66}, {'end': 87.119, 'text': 'We see a market recovery.', 'start': 86.118, 'duration': 1.001}, {'end': 89.219, 'text': "We're going to see a crypto recovery along with it.", 'start': 87.499, 'duration': 1.72}, {'end': 95.42, 'text': "But I think this is you know it's flushed out a lot of the things that needed to be flushed out from the crypto space anyway.", 'start': 89.799, 'duration': 5.621}, {'end': 97.461, 'text': 'Right When May of 2022.', 'start': 96, 'duration': 1.461}, {'end': 104.371, 'text': 'Yep began I think a meltdown in tech values and also crypto.', 'start': 97.461, 'duration': 6.91}, {'end': 107.779, 'text': 'Yeah Did you get nervous that all of a sudden the world was going to fall apart.', 'start': 104.812, 'duration': 2.967}, {'end': 109.96, 'text': 'not super nervous.', 'start': 108.459, 'duration': 1.501}, {'end': 113.301, 'text': "it's like it was definitely going to be a rocky road for the industry.", 'start': 109.96, 'duration': 3.341}], 'summary': "Crypto's comeback depends on market recovery and macro environment, despite recent setbacks.", 'duration': 39.165, 'max_score': 74.136, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw74136.jpg'}, {'end': 190.641, 'src': 'embed', 'start': 157.139, 'weight': 0, 'content': [{'end': 158.76, 'text': 'You bailed out some companies.', 'start': 157.139, 'duration': 1.621}, {'end': 161.121, 'text': 'Yeah What money did you use to do that.', 'start': 159.12, 'duration': 2.001}, {'end': 164.718, 'text': 'So there were a few different versions of it.', 'start': 161.795, 'duration': 2.923}, {'end': 168.941, 'text': 'And one piece of this was basically FTX balance sheet.', 'start': 164.938, 'duration': 4.003}, {'end': 172.184, 'text': 'We keep our corporate cash just in dollars.', 'start': 169.001, 'duration': 3.183}, {'end': 178.95, 'text': "And so we'd raised a few billion dollars over the course of the last couple of years, and we're a profitable business.", 'start': 172.745, 'duration': 6.205}, {'end': 182.793, 'text': "Now, we'd also done some acquisitions, which partially balances that out.", 'start': 179.631, 'duration': 3.162}, {'end': 190.641, 'text': 'But we had some cash left, and with the BlockFi, deal, for instance, that was on FTX.', 'start': 182.854, 'duration': 7.787}], 'summary': 'Ftx used a few billion dollars from its balance sheet to bail out companies and made profitable acquisitions.', 'duration': 33.502, 'max_score': 157.139, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw157139.jpg'}, {'end': 253.268, 'src': 'embed', 'start': 224.81, 'weight': 1, 'content': [{'end': 229.011, 'text': 'You know, do as much as we can to bail out the industry, and that that was the higher goal,', 'start': 224.81, 'duration': 4.201}, {'end': 232.832, 'text': 'was trying to backstop places rather than maximizing on on these deals.', 'start': 229.011, 'duration': 3.821}, {'end': 234.953, 'text': 'No I would have loved other people to do it.', 'start': 233.433, 'duration': 1.52}, {'end': 235.934, 'text': "Like you've been great.", 'start': 235.033, 'duration': 0.901}, {'end': 239.595, 'text': 'So you went in you bought some companies where those investments profitable.', 'start': 236.214, 'duration': 3.381}, {'end': 242.665, 'text': 'I mixed is basically the answer.', 'start': 241.004, 'duration': 1.661}, {'end': 244.185, 'text': 'I think some are going to turn out to be profitable.', 'start': 242.685, 'duration': 1.5}, {'end': 245.786, 'text': "Some won't be like one of them.", 'start': 244.205, 'duration': 1.581}, {'end': 247.166, 'text': 'Certainly I mean with Voyager.', 'start': 245.826, 'duration': 1.34}, {'end': 253.268, 'text': "I think you know there's 70 million dollars there, that that that we put in, that I'm not sure, ever seeing that 70 million again.", 'start': 247.166, 'duration': 6.102}], 'summary': 'Investments were mixed; some profitable, some not, e.g. 70m in voyager uncertain.', 'duration': 28.458, 'max_score': 224.81, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw224810.jpg'}, {'end': 289.115, 'src': 'embed', 'start': 259.61, 'weight': 2, 'content': [{'end': 261.951, 'text': "and if they turned out badly, they'd be bad investments.", 'start': 259.61, 'duration': 2.341}, {'end': 264.652, 'text': 'But we sort of limited the amount that we could lose from it.', 'start': 262.031, 'duration': 2.621}, {'end': 267.895, 'text': 'Why do so many young people seem so attracted to crypto.', 'start': 264.972, 'duration': 2.923}, {'end': 272.42, 'text': 'I mean I know there are people from all over the world of all ages but it seems like young people particularly are very interested.', 'start': 267.915, 'duration': 4.505}, {'end': 272.94, 'text': 'Why is that.', 'start': 272.46, 'duration': 0.48}, {'end': 276.344, 'text': "Yeah I mean partially it's a new thing that's going to appeal to younger people.", 'start': 273.421, 'duration': 2.923}, {'end': 284.693, 'text': "But I think another aspect of this is if you're, you know, 21 years old and you're trying to get access to markets, you want to be able to trade,", 'start': 276.384, 'duration': 8.309}, {'end': 285.173, 'text': 'to invest.', 'start': 284.693, 'duration': 0.48}, {'end': 289.115, 'text': 'You can sign up for an account on a crypto exchange and get full market access.', 'start': 285.894, 'duration': 3.221}], 'summary': 'Young people attracted to crypto for market access and investment opportunities.', 'duration': 29.505, 'max_score': 259.61, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw259610.jpg'}, {'end': 374.998, 'src': 'embed', 'start': 346.785, 'weight': 4, 'content': [{'end': 348.826, 'text': 'I was surprised that we actually got there.', 'start': 346.785, 'duration': 2.041}, {'end': 351.563, 'text': "So today you're running FTX.", 'start': 349.602, 'duration': 1.961}, {'end': 352.944, 'text': 'You started FTX in what year.', 'start': 351.603, 'duration': 1.341}, {'end': 354.245, 'text': 'Twenty nineteen.', 'start': 353.404, 'duration': 0.841}, {'end': 355.546, 'text': 'And what does it actually do.', 'start': 354.485, 'duration': 1.061}, {'end': 359.128, 'text': "So it's a cryptocurrency exchanges is what we call it.", 'start': 355.906, 'duration': 3.222}, {'end': 361.75, 'text': "But really it's a combination of a few different businesses.", 'start': 359.168, 'duration': 2.582}, {'end': 363.971, 'text': 'If you compare it to traditional finance right.', 'start': 362.25, 'duration': 1.721}, {'end': 371.355, 'text': "You have the New York Stock Exchange NASDAQ ice and CME as the exchanges and that that's where bids and offers cross.", 'start': 364.271, 'duration': 7.084}, {'end': 374.998, 'text': "But you don't go to New York Stock Exchange dot com to send an order.", 'start': 371.736, 'duration': 3.262}], 'summary': 'Ftx, a cryptocurrency exchange, started in 2019 and combines different businesses.', 'duration': 28.213, 'max_score': 346.785, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw346785.jpg'}, {'end': 428.869, 'src': 'embed', 'start': 405.64, 'weight': 3, 'content': [{'end': 412.942, 'text': 'So that you know if you want to buy or sell a Bitcoin, you can go to FTX dot com and you know we offer all the services necessary to do that,', 'start': 405.64, 'duration': 7.302}, {'end': 414.443, 'text': 'except for buying and selling.', 'start': 412.942, 'duration': 1.501}, {'end': 421.825, 'text': 'So you got involved because you thought it would be a creative new area to get involved with but was making a lot of money at one of your goals.', 'start': 414.703, 'duration': 7.122}, {'end': 422.985, 'text': 'Yeah, it was.', 'start': 422.265, 'duration': 0.72}, {'end': 428.869, 'text': 'And in particular when I was in college, I sort of went to a lot of charities that I really respected and said hey,', 'start': 423.046, 'duration': 5.823}], 'summary': 'Ftx.com offers services for buying and selling bitcoin, attracting individuals seeking to make money and support charities.', 'duration': 23.229, 'max_score': 405.64, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw405640.jpg'}], 'start': 74.136, 'title': "Cryptocurrency's resurgence and ftx's industry bailouts", 'summary': "Explores the potential comeback of cryptocurrency post-market crashes, its impact on market recovery, and the use of corporate cash by ftx to bail out companies, while also discussing the motivation behind attracting young people to crypto and ftx's philanthropic goals.", 'chapters': [{'end': 156.059, 'start': 74.136, 'title': "Cryptocurrency's comeback potential", 'summary': "Discusses the potential comeback of cryptocurrency amid market crashes and the need for industry adjustments, highlighting the impact of market recovery on crypto's resurgence and the potential long-term challenges if markets further decline.", 'duration': 81.923, 'highlights': ["The impact of market recovery on crypto's resurgence and potential long-term challenges if markets further decline.", 'The need for industry adjustments and the flushing out of issues within the crypto space.', "The potential comeback of cryptocurrency amid market crashes and the macro environment's influence on its performance."]}, {'end': 489.034, 'start': 157.139, 'title': "Ftx's crypto industry bailouts and growth", 'summary': "Discusses ftx's use of corporate cash to bail out companies, the motivation behind attracting young people to crypto, and the multifaceted nature of ftx as a cryptocurrency exchange and its founder's philanthropic goals.", 'duration': 331.895, 'highlights': ['FTX used its corporate cash to bail out companies, including a deal with BlockFi, with a few billion dollars raised over the past years, despite some investments being unprofitable. FTX used its corporate cash to bail out companies, including a deal with BlockFi. They had raised a few billion dollars over the past years. Some investments are unprofitable.', "The founder's explicit mandate to the team was to prioritize industry support over maximizing profits, aiming to backstop places rather than focusing solely on returns. The founder prioritized industry support over maximizing profits. The team's goal was to backstop places rather than focusing solely on returns.", 'Young people are attracted to crypto due to its accessibility for trading and investing, offering full market access without heavy intermediation and limitations experienced in traditional equities and commodities markets. Young people are attracted to crypto due to its accessibility for trading and investing. It offers full market access without heavy intermediation and limitations experienced in traditional markets.', "FTX's founder got involved in crypto at 25 and was motivated by the potential to donate earnings to charities, aiming to make a significant impact through financial contributions. FTX's founder got involved in crypto at 25. He was motivated by the potential to donate earnings to charities.", 'FTX, founded in 2019, operates as a cryptocurrency exchange combining the functions of traditional finance entities such as exchanges, brokerages, settlement, and custody parties into one entity, offering a comprehensive suite of services for buying and selling cryptocurrencies. FTX, founded in 2019, operates as a cryptocurrency exchange combining the functions of traditional finance entities. It offers a comprehensive suite of services for buying and selling cryptocurrencies.']}], 'duration': 414.898, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw74136.jpg', 'highlights': ['FTX used its corporate cash to bail out companies, including a deal with BlockFi, raising a few billion dollars over the past years.', 'The founder prioritized industry support over maximizing profits, aiming to backstop places rather than focusing solely on returns.', 'Young people are attracted to crypto due to its accessibility for trading and investing, offering full market access without heavy intermediation and limitations experienced in traditional markets.', "FTX's founder got involved in crypto at 25 and was motivated by the potential to donate earnings to charities.", 'FTX, founded in 2019, operates as a cryptocurrency exchange combining the functions of traditional finance entities, offering a comprehensive suite of services for buying and selling cryptocurrencies.', "The potential comeback of cryptocurrency amid market crashes and the macro environment's influence on its performance.", 'The need for industry adjustments and the flushing out of issues within the crypto space.']}, {'end': 828.256, 'segs': [{'end': 538.709, 'src': 'embed', 'start': 509.501, 'weight': 3, 'content': [{'end': 512.482, 'text': 'So if you got married someday and you know yeah.', 'start': 509.501, 'duration': 2.981}, {'end': 513.864, 'text': "So you'd have two hyphens.", 'start': 512.703, 'duration': 1.161}, {'end': 519.207, 'text': "Right Well especially if if I married someone with a hyphenated last name right then you've got four names.", 'start': 514.264, 'duration': 4.943}, {'end': 521.969, 'text': 'I think at that point we just have to roll a die and choose one.', 'start': 519.626, 'duration': 2.343}, {'end': 523.278, 'text': 'Oh, wow.', 'start': 522.977, 'duration': 0.301}, {'end': 525.16, 'text': "OK So you've thought about that? Yeah.", 'start': 523.378, 'duration': 1.782}, {'end': 526.901, 'text': 'I mean, you could also just use a totally new name.', 'start': 525.22, 'duration': 1.681}, {'end': 534.866, 'text': 'But would it be particularly attractive to find somebody who had a hyphenated name or not, really? Oh, I think it would be worth one good story.', 'start': 527.341, 'duration': 7.525}, {'end': 535.827, 'text': "That's what I'd get out of it.", 'start': 534.926, 'duration': 0.901}, {'end': 538.709, 'text': 'On the scale of life partners, not the most important criteria.', 'start': 536.287, 'duration': 2.422}], 'summary': 'Discussion about potential challenges of hyphenated last names in marriage, considering using a new name, and the novelty of a hyphenated name not being a top priority in choosing a life partner.', 'duration': 29.208, 'max_score': 509.501, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw509501.jpg'}, {'end': 575.016, 'src': 'embed', 'start': 543.592, 'weight': 4, 'content': [{'end': 547.136, 'text': 'Were you interested in the law at any point or not? Not at all growing up.', 'start': 543.592, 'duration': 3.544}, {'end': 552.8, 'text': "I think I've become more interested in it recently, but you know, when I was growing up, my parents told me look,", 'start': 547.216, 'duration': 5.584}, {'end': 554.721, 'text': 'you can do whatever you want with your life.', 'start': 552.8, 'duration': 1.921}, {'end': 559.285, 'text': "We don't particularly recommend that you become a lawyer, but, you know, you're welcome to do whatever you want.", 'start': 555.162, 'duration': 4.123}, {'end': 566.29, 'text': 'So you were a bit of a math prodigy when you were younger? I was certainly better at math than I was at reading or literature.', 'start': 559.445, 'duration': 6.845}, {'end': 568.031, 'text': 'So you went to MIT.', 'start': 566.87, 'duration': 1.161}, {'end': 575.016, 'text': 'Yep And when you got there, did you find that people were smarter than you thought or not as smart as you thought? I think smarter than I thought.', 'start': 568.371, 'duration': 6.645}], 'summary': 'Interest in law grew later, excelled in math, found peers smarter at mit.', 'duration': 31.424, 'max_score': 543.592, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw543592.jpg'}, {'end': 660.071, 'src': 'embed', 'start': 631.626, 'weight': 6, 'content': [{'end': 636.508, 'text': "But really I also didn't take that many classes and sort of got a little burnt out of academia.", 'start': 631.626, 'duration': 4.882}, {'end': 641.229, 'text': 'So when you graduated what did your parents say to you about what you should do upon graduation.', 'start': 636.848, 'duration': 4.381}, {'end': 646.927, 'text': 'I mean, mostly they said I should do what I wanted and whatever I thought would be exciting.', 'start': 642.185, 'duration': 4.742}, {'end': 649.327, 'text': "And they're going to support me with whatever.", 'start': 647.087, 'duration': 2.24}, {'end': 655.049, 'text': 'But going into junior year of college, I had no idea what that was going to be.', 'start': 649.387, 'duration': 5.662}, {'end': 660.071, 'text': "I had just rolled out or soft rolled out academia and didn't know what was going to replace it.", 'start': 655.089, 'duration': 4.982}], 'summary': 'Graduated with no clear career path, supported by open-minded parents', 'duration': 28.445, 'max_score': 631.626, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw631626.jpg'}, {'end': 707.985, 'src': 'embed', 'start': 673.937, 'weight': 0, 'content': [{'end': 675.118, 'text': 'You took a job in finance.', 'start': 673.937, 'duration': 1.181}, {'end': 677.3, 'text': 'Yep Went back to Jane Street worked there full time.', 'start': 675.178, 'duration': 2.122}, {'end': 678.621, 'text': 'And what did they do.', 'start': 677.94, 'duration': 0.681}, {'end': 680.403, 'text': "They're quant trading firms.", 'start': 679.222, 'duration': 1.181}, {'end': 682.665, 'text': 'So I was on the international ETF desk.', 'start': 680.423, 'duration': 2.242}, {'end': 687.709, 'text': 'Basically that means you have a U.S. listed fund that owns a lot of foreign stocks.', 'start': 682.705, 'duration': 5.004}, {'end': 697.537, 'text': 'So you know, you could look at EEM U.S., listed ETF that owns a bunch of emerging market companies across Asia,', 'start': 688.229, 'duration': 9.308}, {'end': 700.46, 'text': 'across Latin and a few places in Europe.', 'start': 697.537, 'duration': 2.923}, {'end': 707.985, 'text': "And it's basically a combination of like modeling computer trading and real time intuition kind of jumbled together.", 'start': 701.12, 'duration': 6.865}], 'summary': 'Worked at jane street in finance, focusing on international etf desk and u.s. listed funds with foreign stocks.', 'duration': 34.048, 'max_score': 673.937, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw673937.jpg'}, {'end': 751.617, 'src': 'embed', 'start': 715.166, 'weight': 1, 'content': [{'end': 722.953, 'text': "not quite, so i left in late in, let's say, fall 2017, roughly not sure what i was actually going to do next.", 'start': 715.166, 'duration': 7.787}, {'end': 727.338, 'text': "what i'd really done was sort of written down like 12 things i could do with my life,", 'start': 722.953, 'duration': 4.385}, {'end': 731.481, 'text': "and felt like a lot of them were compelling and i didn't know what was going to be best.", 'start': 727.338, 'duration': 4.143}, {'end': 732.542, 'text': 'but that you know.', 'start': 731.481, 'duration': 1.061}, {'end': 736.645, 'text': 'the only way to try would be to leave and just dive into some of them.', 'start': 732.542, 'duration': 4.103}, {'end': 737.987, 'text': 'So you started your own company.', 'start': 736.866, 'duration': 1.121}, {'end': 743.591, 'text': 'What was it called? So Alameda Research is the first company I started up and it was a crypto quant trading firm.', 'start': 738.127, 'duration': 5.464}, {'end': 746.693, 'text': 'And you know the sort of founding of it was basically.', 'start': 743.631, 'duration': 3.062}, {'end': 751.617, 'text': 'well, you know, Bitcoin was trading on a lot of different crypto exchanges and it was not trading at the same price on all of them.', 'start': 746.693, 'duration': 4.924}], 'summary': 'Left job in fall 2017, started alameda research, a crypto quant trading firm.', 'duration': 36.451, 'max_score': 715.166, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw715166.jpg'}, {'end': 808.365, 'src': 'embed', 'start': 772.045, 'weight': 2, 'content': [{'end': 775.506, 'text': 'It was a huge amount of logistical work like finding the trades is the easy part.', 'start': 772.045, 'duration': 3.461}, {'end': 778.607, 'text': 'The hard part was getting the account, sending wire transfers,', 'start': 775.526, 'duration': 3.081}, {'end': 784.169, 'text': 'opening up entities and all of the other sort of operational work that went into actually being able to execute.', 'start': 778.607, 'duration': 5.562}, {'end': 788.772, 'text': 'And normally when people start companies, they get venture capital money and those venture capitalists own a piece of it.', 'start': 784.269, 'duration': 4.503}, {'end': 791.254, 'text': 'Did you get venture capital money? Not for Alameda.', 'start': 788.792, 'duration': 2.462}, {'end': 796.277, 'text': 'And part of this was, you know, we talked with some VC firms and our pitch was basically, hey, guys, good news.', 'start': 791.294, 'duration': 4.983}, {'end': 797.958, 'text': 'Bunch of 25 year olds.', 'start': 796.837, 'duration': 1.121}, {'end': 800.92, 'text': "We don't really know what a Bitcoin is, but we're trading it.", 'start': 799.139, 'duration': 1.781}, {'end': 802.501, 'text': 'Also, this is all crypto.', 'start': 801.461, 'duration': 1.04}, {'end': 806.484, 'text': 'And, you know, we got a startup together.', 'start': 803.742, 'duration': 2.742}, {'end': 808.365, 'text': 'None of us has run a company before.', 'start': 806.924, 'duration': 1.441}], 'summary': "Alameda didn't get venture capital money. they started with a team of 25-year-olds who were new to bitcoin trading and had no prior company experience.", 'duration': 36.32, 'max_score': 772.045, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw772045.jpg'}], 'start': 489.214, 'title': 'Name-work combination and alameda research', 'summary': 'Covers the process of combining names, marrying someone with a hyphenated last name, upbringing, academic and finance career transitions, and the founding of alameda research, including its trading activities and operational challenges without venture capital funding.', 'chapters': [{'end': 736.645, 'start': 489.214, 'title': 'Combining names and career transitions', 'summary': "Discusses the process of combining two names, the possibility of marrying someone with a hyphenated last name, the interviewee's upbringing, academic experiences, career in finance, and transition into the crypto world.", 'duration': 247.431, 'highlights': ['The interviewee discusses the process of combining two names and the considerations involved, including the mutual decision-making and potential scenarios if they were to get married. N/A', "The interviewee reflects on their upbringing, including their parents' professions as distinguished professors at Stanford Law School and their encouragement to pursue any career path. N/A", "The interviewee's academic journey, from being better at math than reading, attending MIT, and realizing the presence of other highly intelligent individuals. N/A", "The interviewee's transition from considering a career in academia to majoring in physics with minimal coursework, minor in math, and experiencing burnout from academia. N/A", "The interviewee's career transition from interning at a finance firm, Jane Street, to working there full time, focusing on quant trading and international ETF desk. Worked at Jane Street full-time for about three and a half years.", "The interviewee's uncertain transition from finance to exploring various compelling life paths, resulting in the decision to leave and dive into new opportunities. N/A"]}, {'end': 828.256, 'start': 736.866, 'title': 'Starting alameda research', 'summary': 'Discusses the founding of alameda research, a crypto quant trading firm, including the arbitrage opportunities it exploited and the challenges of operational work, without relying on venture capital funding.', 'duration': 91.39, 'highlights': ['Alameda Research was founded as a crypto quant trading firm, taking advantage of arbitrage opportunities in the trading of Bitcoin and other cryptos. Alameda Research was the first company founded, focusing on crypto quant trading and exploiting arbitrage opportunities in the trading of Bitcoin and other cryptocurrencies.', 'The operational work of executing trades involved a huge amount of logistical work, including managing accounts, wire transfers, and opening entities. The operational work of executing trades involved managing accounts, wire transfers, and opening entities, which required significant logistical efforts.', 'Alameda Research did not rely on venture capital funding and instead cobbled together lines of credit and other sources to fund the company. Alameda Research did not rely on venture capital funding and instead cobbled together lines of credit and other sources to fund the company, as their pitch to VC firms was not compelling.']}], 'duration': 339.042, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw489214.jpg', 'highlights': ["The interviewee's career transition from interning at a finance firm, Jane Street, to working there full time, focusing on quant trading and international ETF desk. Worked at Jane Street full-time for about three and a half years.", 'Alameda Research was founded as a crypto quant trading firm, taking advantage of arbitrage opportunities in the trading of Bitcoin and other cryptos. Alameda Research was the first company founded, focusing on crypto quant trading and exploiting arbitrage opportunities in the trading of Bitcoin and other cryptocurrencies.', 'The operational work of executing trades involved a huge amount of logistical work, including managing accounts, wire transfers, and opening entities. The operational work of executing trades involved managing accounts, wire transfers, and opening entities, which required significant logistical efforts.', 'The interviewee discusses the process of combining two names and the considerations involved, including the mutual decision-making and potential scenarios if they were to get married. N/A', "The interviewee reflects on their upbringing, including their parents' professions as distinguished professors at Stanford Law School and their encouragement to pursue any career path. N/A", "The interviewee's academic journey, from being better at math than reading, attending MIT, and realizing the presence of other highly intelligent individuals. N/A", "The interviewee's transition from considering a career in academia to majoring in physics with minimal coursework, minor in math, and experiencing burnout from academia. N/A", "The interviewee's uncertain transition from finance to exploring various compelling life paths, resulting in the decision to leave and dive into new opportunities. N/A", 'Alameda Research did not rely on venture capital funding and instead cobbled together lines of credit and other sources to fund the company. Alameda Research did not rely on venture capital funding and instead cobbled together lines of credit and other sources to fund the company, as their pitch to VC firms was not compelling.']}, {'end': 1119.53, 'segs': [{'end': 862.124, 'src': 'embed', 'start': 828.256, 'weight': 2, 'content': [{'end': 831.657, 'text': 'trying to sort of snowball and be able to build on ourselves.', 'start': 828.256, 'duration': 3.401}, {'end': 834.218, 'text': 'So after that you started another company FTX.', 'start': 831.957, 'duration': 2.261}, {'end': 837.3, 'text': "Yeah Now what does FTX do that your first company didn't do.", 'start': 834.318, 'duration': 2.982}, {'end': 840.403, 'text': 'So Alameda is buying and selling.', 'start': 837.58, 'duration': 2.823}, {'end': 844.808, 'text': "It's trading for its own book and trying to do profitable trades.", 'start': 840.443, 'duration': 4.365}, {'end': 847.731, 'text': 'FTX, you can think of it as infrastructure.', 'start': 845.689, 'duration': 2.042}, {'end': 851.114, 'text': "It's markets infrastructure, so everything that sits between a buyer and a seller.", 'start': 847.831, 'duration': 3.283}, {'end': 853.216, 'text': "So FTX doesn't buy and sell itself.", 'start': 851.515, 'duration': 1.701}, {'end': 862.124, 'text': "But it's a venue where people can go to trade crypto and that aims to solve sort of every piece in between those two parties,", 'start': 854.177, 'duration': 7.947}], 'summary': "Sam bankman-fried discusses differences between alameda and ftx, emphasizing ftx's role as markets infrastructure for crypto trading.", 'duration': 33.868, 'max_score': 828.256, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw828256.jpg'}, {'end': 908.522, 'src': 'embed', 'start': 870.711, 'weight': 0, 'content': [{'end': 873.153, 'text': 'the risk engine, the front end and everything else.', 'start': 870.711, 'duration': 2.442}, {'end': 878.815, 'text': 'Right So why does somebody come to FTX and use you as opposed to one of the other similar exchanges.', 'start': 873.413, 'duration': 5.402}, {'end': 880.395, 'text': 'Yeah I mean you know to each his own.', 'start': 879.155, 'duration': 1.24}, {'end': 885.577, 'text': "But the things that I think we've particularly specialized in and been good at you know one.", 'start': 880.455, 'duration': 5.122}, {'end': 890.339, 'text': "we've been pretty fast, moving and innovative, and we're a relatively new venue,", 'start': 885.577, 'duration': 4.762}, {'end': 893.2, 'text': "but we've put a lot of thought into exactly how our products are designed.", 'start': 890.339, 'duration': 2.861}, {'end': 894.761, 'text': "Where's the company based.", 'start': 893.72, 'duration': 1.041}, {'end': 899.277, 'text': 'So we have We have a lot of offices for regulatory reasons.', 'start': 895.081, 'duration': 4.196}, {'end': 908.522, 'text': 'So as an example, we have a new Tokyo office with a bunch of people in it, because we now have a JFSA Type 1 financial services license there.', 'start': 899.297, 'duration': 9.225}], 'summary': 'Ftx is fast, innovative, and has a tokyo office with a jfsa type 1 license.', 'duration': 37.811, 'max_score': 870.711, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw870711.jpg'}, {'end': 991.802, 'src': 'embed', 'start': 944.863, 'weight': 4, 'content': [{'end': 946.284, 'text': "So you don't look like you have a tan or anything.", 'start': 944.863, 'duration': 1.421}, {'end': 947.646, 'text': 'No, no, not so much.', 'start': 946.304, 'duration': 1.342}, {'end': 951.714, 'text': "In the case of crypto currencies today it's now's the time to get in.", 'start': 948.351, 'duration': 3.363}, {'end': 952.195, 'text': "It's good.", 'start': 951.794, 'duration': 0.401}, {'end': 955.097, 'text': "Or now is the time to wait to see where the market's going.", 'start': 952.275, 'duration': 2.822}, {'end': 958.32, 'text': "The biggest thing I would say is don't put in more than you're fine losing.", 'start': 955.317, 'duration': 3.003}, {'end': 972.708, 'text': 'so very often when people get wealthy, they buy fancy suits and so forth.', 'start': 968.064, 'duration': 4.644}, {'end': 974.849, 'text': "you haven't gone to that phase yet, right?", 'start': 972.708, 'duration': 2.141}, {'end': 975.67, 'text': 'not so much.', 'start': 974.849, 'duration': 0.821}, {'end': 977.931, 'text': 'your outfit is pretty much standard.', 'start': 975.67, 'duration': 2.261}, {'end': 980.674, 'text': "it's, uh, some kind of t-shirt, shorts, tennis shoes.", 'start': 977.931, 'duration': 2.743}, {'end': 982.755, 'text': 'is that what you wear all the time?', 'start': 980.674, 'duration': 2.081}, {'end': 988.299, 'text': 'uh, when i go to washington dc, i have a suit there because i have to wear it on the hill, but outside of that, yeah.', 'start': 982.755, 'duration': 5.544}, {'end': 991.802, 'text': 'so are you thinking of buying a house to live in, or where do you live?', 'start': 988.299, 'duration': 3.503}], 'summary': 'Discussion on crypto investments, risk management, and casual attire.', 'duration': 46.939, 'max_score': 944.863, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw944863.jpg'}, {'end': 1068.68, 'src': 'embed', 'start': 1038.038, 'weight': 3, 'content': [{'end': 1039.079, 'text': 'I was not expecting that.', 'start': 1038.038, 'duration': 1.041}, {'end': 1041.541, 'text': 'I was expecting it to be a real slog.', 'start': 1039.138, 'duration': 2.403}, {'end': 1048.506, 'text': 'And I think it could have been in a slightly different universe where you saw continued wars going on between regulators and the industry.', 'start': 1042.162, 'duration': 6.344}, {'end': 1056.712, 'text': "What we've tried really hard to do over the last year is get the industry to a place where it is happy to accept sensible regulation.", 'start': 1049.407, 'duration': 7.305}, {'end': 1068.68, 'text': "And I think that's helped turn down the volume a little bit on the arguments and get to a place where most people are honestly trying to engage on what's the important federal oversight that we need to give to the industry?", 'start': 1057.072, 'duration': 11.608}], 'summary': 'Efforts to achieve industry acceptance of regulation have reduced conflicts and fostered engagement in important federal oversight.', 'duration': 30.642, 'max_score': 1038.038, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw1038038.jpg'}], 'start': 828.256, 'title': 'Ftx markets infrastructure and crypto regulation', 'summary': "Discusses ftx, a markets infrastructure company specializing in fast and innovative products, its expansion with regulatory offices, and the speaker's approach to life, work attire, investment philosophy, industry lobbying, and the regulation of crypto currencies.", 'chapters': [{'end': 925.832, 'start': 828.256, 'title': 'Ftx markets infrastructure', 'summary': 'Discusses the establishment of ftx, a markets infrastructure company, specializing in fast and innovative products, and its expansion with regulatory offices in different jurisdictions.', 'duration': 97.576, 'highlights': ['FTX specializes in fast and innovative products, particularly in the cryptocurrency trading space, and has put a lot of thought into the design of its products.', 'FTX has regulatory offices in different jurisdictions, including a new Tokyo office with a JFSA Type 1 financial services license, and its biggest offices are in Chicago, United States, and Nassau, Bahamas.', 'Alameda is involved in buying and selling, trading for its own book, and doing profitable trades, whereas FTX serves as markets infrastructure for trading crypto, handling everything between buyers and sellers, from clearing and settlement to compliance and risk management.']}, {'end': 1119.53, 'start': 925.852, 'title': 'Crypto regulation and industry lobbying', 'summary': "Discusses the speaker's approach to life, work attire, investment philosophy, industry lobbying, and the regulation of crypto currencies, emphasizing the importance of sensible regulation and the speaker's engagement with regulators and congress.", 'duration': 193.678, 'highlights': ['The speaker emphasizes the importance of sensible regulation and industry engagement, leading to a surprisingly uplifting experience when lobbying with regulators and Congress. Importance of sensible regulation, uplifting experience when lobbying with regulators and Congress', 'The speaker shares their investment philosophy of not putting in more than what one is fine losing and their preference for using wealth to help the world. Investment philosophy, using wealth to help the world', "The speaker's attire and lifestyle are described, indicating a preference for comfort over luxury and a standard outfit of t-shirt, shorts, and tennis shoes, with the exception of wearing a suit when in Washington, D.C. Preference for comfort over luxury, standard outfit, wearing a suit in Washington, D.C."]}], 'duration': 291.274, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw828256.jpg', 'highlights': ['FTX specializes in fast and innovative products, particularly in cryptocurrency trading.', 'FTX has regulatory offices in different jurisdictions, including a new Tokyo office with a JFSA Type 1 financial services license.', 'Alameda is involved in buying and selling, trading for its own book, and doing profitable trades, whereas FTX serves as markets infrastructure for trading crypto.', 'The speaker emphasizes the importance of sensible regulation and industry engagement, leading to a surprisingly uplifting experience when lobbying with regulators and Congress.', 'The speaker shares their investment philosophy of not putting in more than what one is fine losing and their preference for using wealth to help the world.', "The speaker's attire and lifestyle are described, indicating a preference for comfort over luxury and a standard outfit of t-shirt, shorts, and tennis shoes, with the exception of wearing a suit when in Washington, D.C."]}, {'end': 1441.117, 'segs': [{'end': 1148.733, 'src': 'embed', 'start': 1119.97, 'weight': 0, 'content': [{'end': 1126.357, 'text': "Now in our country when you want to have some influence with government very often people make campaign contributions as they're called.", 'start': 1119.97, 'duration': 6.387}, {'end': 1130.181, 'text': "And you've become a large donor to political candidates.", 'start': 1126.958, 'duration': 3.223}, {'end': 1136.928, 'text': 'Is it because you want some influence on the policy of crypto or is it just you think these candidates are good public servants.', 'start': 1130.581, 'duration': 6.347}, {'end': 1138.949, 'text': "it's mostly just looking for good public servants.", 'start': 1137.208, 'duration': 1.741}, {'end': 1141.09, 'text': 'Like that is by far the most important thing to me.', 'start': 1138.969, 'duration': 2.121}, {'end': 1142.911, 'text': 'And look, there are a lot of issues that matter,', 'start': 1141.11, 'duration': 1.801}, {'end': 1148.733, 'text': "but there's also just this correlated aspect of like are they going to be fighting to what they think is right for the country in general?", 'start': 1142.911, 'duration': 5.822}], 'summary': 'Donating to political candidates for good public servants, seeking influence on policy.', 'duration': 28.763, 'max_score': 1119.97, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw1119970.jpg'}, {'end': 1203.398, 'src': 'embed', 'start': 1170.583, 'weight': 2, 'content': [{'end': 1173.525, 'text': 'Is it easy to get to you and say we need this money for this candidate.', 'start': 1170.583, 'duration': 2.942}, {'end': 1175.205, 'text': 'And what type of candidates do you tend to support.', 'start': 1173.545, 'duration': 1.66}, {'end': 1175.745, 'text': 'Oh yeah.', 'start': 1175.525, 'duration': 0.22}, {'end': 1179.807, 'text': 'Well, if you, if I pulled out my phone here and just looked at my last 10 text messages,', 'start': 1175.786, 'duration': 4.021}, {'end': 1183.289, 'text': 'you know about half of them are going to be people asking for.', 'start': 1179.807, 'duration': 3.482}, {'end': 1185.649, 'text': 'you know politicians asking for contributions.', 'start': 1183.289, 'duration': 2.36}, {'end': 1188.731, 'text': 'But those do you have a political expert or adviser.', 'start': 1185.709, 'duration': 3.022}, {'end': 1191.352, 'text': 'Yeah So obviously ignore the text messages.', 'start': 1189.131, 'duration': 2.221}, {'end': 1194.473, 'text': "I've got a few people on the ground in D.C.", 'start': 1191.552, 'duration': 2.921}, {'end': 1196.914, 'text': 'who are sort of actually running the operations stage.', 'start': 1194.513, 'duration': 2.401}, {'end': 1203.398, 'text': 'So when you give money to a candidate and he or she gets elected do they respond to you when you call them later or not really.', 'start': 1196.954, 'duration': 6.444}], 'summary': 'Political donor discusses receiving requests for contributions and candidate responsiveness.', 'duration': 32.815, 'max_score': 1170.583, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw1170583.jpg'}, {'end': 1283.357, 'src': 'embed', 'start': 1226.414, 'weight': 1, 'content': [{'end': 1227.995, 'text': 'I might not be involved at all.', 'start': 1226.414, 'duration': 1.581}, {'end': 1230.458, 'text': 'I might be involved on either side or both.', 'start': 1228.516, 'duration': 1.942}, {'end': 1234.541, 'text': 'And in general, my sense is that primaries are really important.', 'start': 1231.198, 'duration': 3.343}, {'end': 1236.303, 'text': 'And I think this is true for the presidency as well.', 'start': 1234.561, 'duration': 1.742}, {'end': 1244.53, 'text': 'I think this is something a lot of people miss, is that if your goal is partisan, then you basically have to operate in general elections.', 'start': 1236.803, 'duration': 7.727}, {'end': 1247.331, 'text': "That's when partisan splits are determined.", 'start': 1244.57, 'duration': 2.761}, {'end': 1252.955, 'text': "But if your goal is getting good public servants and people who are really fighting for what's right for the country,", 'start': 1247.632, 'duration': 5.323}, {'end': 1256.217, 'text': "there are people who do and don't fit that description on both sides of the aisle.", 'start': 1252.955, 'duration': 3.262}, {'end': 1257.358, 'text': 'And you have..', 'start': 1256.878, 'duration': 0.48}, {'end': 1264.683, 'text': 'these contests, which are way lower stakes from a partisan perspective, it gets rid of a lot of the noise and competition.', 'start': 1259.439, 'duration': 5.244}, {'end': 1269.467, 'text': 'And, you know, there are great opportunities to support people who would just be good public servants.', 'start': 1265.384, 'duration': 4.083}, {'end': 1272.429, 'text': 'So you support people of both parties? Yeah.', 'start': 1269.607, 'duration': 2.822}, {'end': 1276.813, 'text': 'Okay, And today you would not consider running for office yourself, right?', 'start': 1272.87, 'duration': 3.943}, {'end': 1282.256, 'text': 'I would be an insane thing for me to do as a fourth job to tack on to.', 'start': 1277.393, 'duration': 4.863}, {'end': 1283.357, 'text': "you know the other things I'm doing?", 'start': 1282.256, 'duration': 1.101}], 'summary': 'Primaries important for good public servants, bipartisan support. not considering running for office.', 'duration': 56.943, 'max_score': 1226.414, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw1226414.jpg'}, {'end': 1330.509, 'src': 'embed', 'start': 1302.97, 'weight': 6, 'content': [{'end': 1307.452, 'text': 'Do you see any other phenomenon like that that you might get involved with as well? Potentially.', 'start': 1302.97, 'duration': 4.482}, {'end': 1309.134, 'text': 'I mean, look, eventually AI.', 'start': 1307.472, 'duration': 1.662}, {'end': 1315.759, 'text': "I think, you know, right now we're at the stage of AI being mediocre chatbots instead of really bad chatbots.", 'start': 1309.334, 'duration': 6.425}, {'end': 1317.92, 'text': "But that's going to change over time.", 'start': 1315.859, 'duration': 2.061}, {'end': 1322.403, 'text': 'And, you know, Mark, to 10, 20 years from now, we may be having a very different conversation.', 'start': 1317.96, 'duration': 4.443}, {'end': 1325.005, 'text': 'So I have not bought any cryptocurrencies.', 'start': 1322.604, 'duration': 2.401}, {'end': 1330.509, 'text': "I have invested in companies that service the industry, but I haven't bought crypto myself.", 'start': 1325.065, 'duration': 5.444}], 'summary': 'Ai evolving from mediocre to advanced chatbots; anticipating changes in 10-20 years.', 'duration': 27.539, 'max_score': 1302.97, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw1302970.jpg'}, {'end': 1422.893, 'src': 'embed', 'start': 1391.47, 'weight': 5, 'content': [{'end': 1393.872, 'text': 'You could also lose that like things can go up things can go down.', 'start': 1391.47, 'duration': 2.402}, {'end': 1396.654, 'text': 'There is a lot of upside potential.', 'start': 1394.492, 'duration': 2.162}, {'end': 1400.076, 'text': "The biggest thing, I would say, is don't put in more than you're.", 'start': 1396.954, 'duration': 3.122}, {'end': 1401.717, 'text': 'fine losing, like You know.', 'start': 1400.076, 'duration': 1.641}, {'end': 1406.121, 'text': "don't, don't put in money that you'd be really really sad to lose into.", 'start': 1401.717, 'duration': 4.404}, {'end': 1407.181, 'text': 'you know crypto right now.', 'start': 1406.121, 'duration': 1.06}, {'end': 1410.244, 'text': 'You know think of it more as an upside play.', 'start': 1407.201, 'duration': 3.043}, {'end': 1416.708, 'text': 'When you leave this interview and you go outside can you walk down the streets of New York without anybody bothering you.', 'start': 1410.504, 'duration': 6.204}, {'end': 1417.609, 'text': "It's borderline.", 'start': 1416.869, 'duration': 0.74}, {'end': 1422.893, 'text': 'So I think probably a half a percent or a third of a percent or something of people recognize me here.', 'start': 1417.649, 'duration': 5.244}], 'summary': 'Invest in crypto cautiously, with potential upside. low recognition in new york.', 'duration': 31.423, 'max_score': 1391.47, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw1391470.jpg'}, {'end': 1440.215, 'src': 'heatmap', 'start': 1430.819, 'weight': 1, 'content': [{'end': 1435.026, 'text': "Well, what you can do is get a comb, comb your hair, get a suit, and then people, that'd be your disguise.", 'start': 1430.819, 'duration': 4.207}, {'end': 1438.773, 'text': "It's true, I could just look normal, and that would, yeah.", 'start': 1435.888, 'duration': 2.885}, {'end': 1440.215, 'text': "But you haven't thought of that, not likely.", 'start': 1438.793, 'duration': 1.422}], 'summary': 'Disguise with comb, hair, and suit for normal look.', 'duration': 9.396, 'max_score': 1430.819, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw1430819.jpg'}], 'start': 1119.97, 'title': 'Influence of campaign contributions and future endeavors', 'summary': 'Discusses the impact of campaign contributions on government policy, emphasizing support for good public servants. it also covers political fundraising, potential presidential campaign engagement, cryptocurrency investment insights, and future interest in ai.', 'chapters': [{'end': 1154.396, 'start': 1119.97, 'title': 'Influence through campaign contributions', 'summary': 'Discusses the influence of campaign contributions on government policy, with the speaker emphasizing the importance of supporting good public servants over specific policy agendas.', 'duration': 34.426, 'highlights': ['The speaker emphasizes supporting good public servants as the most important factor when making campaign contributions.', 'The chapter mentions the correlation between supporting candidates who fight for what they believe is right for the country in general.', 'The speaker acknowledges that there are a lot of issues that matter when making campaign contributions.']}, {'end': 1441.117, 'start': 1154.396, 'title': 'Crypto, political fundraising, and future endeavors', 'summary': "Discusses the speaker's involvement in political fundraising, potential engagement in future presidential campaigns, insights on cryptocurrency investment, and the potential interest in ai in the future.", 'duration': 286.721, 'highlights': ['The speaker discusses his involvement in political fundraising and the importance of supporting good public servants from both parties. The speaker mentions receiving numerous requests for political contributions and emphasizes the significance of supporting individuals who would be good public servants, irrespective of party affiliation.', "The speaker provides insights on potential engagement in future presidential campaigns, highlighting the importance of primaries and the consideration of candidates' suitability. The speaker explains the potential involvement in future presidential campaigns, emphasizing the importance of primaries and the significance of supporting candidates based on their suitability as good public servants.", 'The speaker shares thoughts on cryptocurrency investment, advising firsthand experience and caution regarding potential profit and loss. The speaker advises trying out different cryptocurrency protocols and exchanges for firsthand experience, while also emphasizing the potential for profit and loss, cautioning against investing more than one can afford to lose.', 'The speaker expresses potential interest in AI and its future development, particularly in the realm of AI advancements and its potential impact in the future. The speaker discusses the potential future involvement in AI, particularly emphasizing the evolving nature of AI technology and its potential impact in the next 10 to 20 years.']}], 'duration': 321.147, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/QqSV_6dxafw/pics/QqSV_6dxafw1119970.jpg', 'highlights': ['The speaker emphasizes supporting good public servants as the most important factor when making campaign contributions.', 'The chapter mentions the correlation between supporting candidates who fight for what they believe is right for the country in general.', 'The speaker acknowledges that there are a lot of issues that matter when making campaign contributions.', 'The speaker discusses his involvement in political fundraising and the importance of supporting good public servants from both parties.', "The speaker provides insights on potential engagement in future presidential campaigns, highlighting the importance of primaries and the consideration of candidates' suitability.", 'The speaker shares thoughts on cryptocurrency investment, advising firsthand experience and caution regarding potential profit and loss.', 'The speaker expresses potential interest in AI and its future development, particularly in the realm of AI advancements and its potential impact in the future.']}], 'highlights': ["Sam Bankman Freed's successful creation of the FTX platform has made him one of the wealthiest individuals in the world of cryptocurrency.", 'FTX used its corporate cash to bail out companies, including a deal with BlockFi, raising a few billion dollars over the past years.', "The interviewee's career transition from interning at a finance firm, Jane Street, to working there full time, focusing on quant trading and international ETF desk. Worked at Jane Street full-time for about three and a half years.", 'FTX specializes in fast and innovative products, particularly in cryptocurrency trading.', 'The speaker emphasizes supporting good public servants as the most important factor when making campaign contributions.', 'The speaker shares thoughts on cryptocurrency investment, advising firsthand experience and caution regarding potential profit and loss.']}