In 2009, Bernie Madoff lost investors $60 billion. He was sentenced to 150 years in prison.
In 2022, Do Kwon lost investors $60 billion after Luna collapsed to $0. He then created Luna 2.0.
@SBF_FTX
@andrewrsorkin
@dealbook
In 2008, Bernie Madoff was arrested within 24 hours of his fraud being revealed.
In 2022, Sam Bankman-Fried will be attending the NYTimes dealbook summit after his fraud was revealed.
Ilya Lichtenstein, a tech entrepreneur and Y combinator alum.
Heather Morgan, a Forbes columnist.
Today they were arrested for trying to launder billions in stolen crypto. They face up to 20 years in prison.
Elizabeth Holmes, founder of Theranos, lost investors $1 billion. She faces up to 20 years in prison.
Adam Neumann, founder of WeWork, lost investors $11 billion. He then raised $350 million for his next startup.
Bill Gates would be worth $1.2 trillion if he still had his Microsoft shares.
Instead, he became best friends with Warren Buffett and decided to diversify his portfolio.
He is worth only $136 billion today.
Bill Gates would be worth $1 trillion if he still had his Microsoft shares.
Instead, he became friends with Warren Buffett and decided to diversify his portfolio.
He’s worth only $110 billion today.
Jake Freeman, a 20-year-old student, made $110 million trading meme stock $BBBY.
He was able to do it with just a small initial capital of $25 million from his family.
Luna fell 99% from $100 to $1. Then if fell another 99% from $1 to 1 cent.
An important lesson here: if an asset falls 99%, it can still fall another 99%.
Rivian is now the third most valuable carmaker on the planet.
Here are the fundamentals:
• $0 in sales
• Has only produced 56 cars
• Jeff Bezos likes the company