Jake Thacker
speaker
130 appearances
1 recordings
1 series
first heard May 2025
last heard May 2025
Jake Thacker’s voice in public audio — every appearance, attributed to the second.
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Appearances
This is essentially a two-year journey of not getting any income, not having full-time work, and having to scrape by in order to meet the qualifications to file. And then some events that happened after filing that drug things out in February, March, got out of it. And when I say got out of it, got out of the bankruptcy, got out of the foreclosure,
any of the financial obligations and responsibilities I had prior to FTX. It's been that long. I told the crew on Thursday that my mother was nice enough to buy me some groceries at a fancy store that we have here called New Seasons. I don't ever shop there anymore because a piece of food costs $50. It's a very privileged thing to be able to go there.
And I just remember thinking, eating almond and realizing this is the first time my refrigerator has been full of locally sourced whole foods like vegetables and fruits and that kind of thing in almost two and a half years. That was a sad and also humbling realization to just kind of put together in that time. But it sums it up quite aptly in the sense of the catalyst of FTX.
the job markets being laid off, going through all of the proceedings to situate myself in a place where I can't even begin to start to rebuild. And that's essentially where I am right now. And it's taken not as long.
I don't think I was. In fact, I got the comment a lot that, how are you handling this so well? And I don't have a straight answer for that. I didn't really think about it that much or try and pin it down. I just kind of said, let's just keep going. Let's keep going. I just slided into the tunnel, like, don't give up. And that's really what kind of drove me.
In fact, this place that I'm in right now is not my condo that I had owned. I recently moved in the last two months. I'm essentially living here for free. And the person that owns this is actually in Europe for the next few months and was nice enough to let me squat here while he's off doing fun things, I guess. But it was extremely challenging, but the challenge also brought a lot of
opportunity for me to discover and question. I'm kind of an analytical person and I can now understand and appreciate the kind of institutional
process in which once people find themselves in a position of bankruptcy or insolvency that the mechanisms and agencies in place to help lift people up or to support also are as detrimental as anything else and it's this cycle that is very difficult to get out of if you don't have the resolve or even the sliver of resources to be able to do it.
And I felt compelled to try and understand that and fight that in some instance, many times failure. And so it wasn't just, you know, the FTX and losing my job. It was fighting some of the bankruptcy trustees. It was fighting some of the court proceedings when it came to the foreclosure and how that all played out. And
spending money that i didn't have other people's money to go to court and try and fight some of these things and just get laughed out of the courtroom essentially so it was a humbling experience say at least not that i didn't invite some of it myself but i don't wish it upon anyone and regardless of
the trigger with FTX or not, there is a systemic issue in the country that allows you to be able to file for bankruptcy, but then does not allow you to necessarily come out of that or essentially benefit from the opportunity to do that in a way that moves things forward, in my opinion. In all honesty, you know, the reason why I said
I didn't think bankruptcy was for me is because I thought these people were lazy. I thought they were irresponsible. I thought there was a whole stereotype of things that I had thought people with bankruptcy in that realm of losing things or having to be in that situation, the kind of character they were.
just to find myself in there and to be extremely humbled and humanized to realize that it's going to happen to anyone. I shouldn't say it probably can't happen to the PayPal mafia crew, but it could happen to normal people. in the blink of an eye. And I wish that there were a better solution. And it's frustrating. That is probably the thing that drove me the most is why is it like this?
Why are there no resources? Why can't I get questions answered? I'm being told what to do, but I'm not being told why. I don't have an advocate outside of paying someone to help me get through the process to try and solution something different or understand like, hey, is my situation worthy of this versus that? That's probably what drove me at the end of the day.
I didn't partake in any of the class action lawsuits simply because I had enough going on in my personal life that it wasn't something that I had the headspace for. In fact, I needed to be away from that and not be involved. I did file a claim. However, That was very early days before things changed, before the new name came along.
I'm still a little unclear about some of the FTX subsidiaries and now new holdings and that kind of thing. And they're obviously still experiencing major issues because payments have not been going out as they promised. At least I haven't seen them anyway. I did file a claim. I did not want to not... tried to recoup some of the funds that I had lost.
For their bankruptcy, right? So you could get your authentication and verification done, which has been an issue. I have not done that yet again, extended the deadline to June 1. So I'm probably going to do that here the next month or two, just to play the game. But I initially did mine. And then I I kind of washed my hands of it and I didn't want to partake in it.
I watched a little bit of the trial and obviously heard the verdict and was like, that's great. Fantastic. Like justice is served, I guess, but it didn't have an effect on me. It didn't have effect on what I was dealing with and what I was going to have to deal with and the challenges that I was facing, you know, in the months that I knew were coming up. And so, yeah,
In all honesty, I don't know if people are going to see all their money again. They say they are. But if you go and look on the website, the amount of claims that they have, the amount of motions that have been filed just within the past couple of months is insanity. It's going to take years. I mean, they have the money. Great. That's one thing. Getting it to the entities that...
are needing it, sorted out all of those claims, because there's hundreds of thousands of them, I think it's just going to take forever.
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