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
My thoughts now are almost worse than they were before in the sense of everyone painted him as this mastermind villain. I don't see that now. I see it as a spoiled kid who had parents that were able to guide him he went to you know prestigious institutions that enabled him access to the likes of peter thiel and other investors that would fund him for all
Intents and purposes, he had no interest in crypto before starting FTX. If you go back and look at his tenure at MIT, like he didn't ever prophesize like, I'm going to build the next crypto exchange. Now he prophesized some of his other philosophical ambitions and that kind of thing, but it wasn't necessarily crypto platform, right?
It was some iteration of freeness and community, but it wasn't necessarily that. So I see him as a privileged person. white male, like myself, able to build and get incredible access to initial funds to scale and perpetrate something that he personally wanted to do. Whatever that is, and I kind of alluded to what my theory is, that's the big unknown.
But he didn't start this for the betterment of mankind or people kind. He was selfish. He had an agenda, what that agenda is. Hard to say. I mean, obviously there was some legitimacy at the beginning. There was an intention to do this. It wasn't a Ponzi scheme. It wasn't a scam. It wasn't, you know, I'm going to pull the rug out from you at the very last moment.
There was the intent to provide for the most part. But I think that he deserves every minute in jail, sitting in his cell with P. Diddy and the likes. They're good riddance. They deserve each other.
I probably wouldn't say much. I have not a lot of words for someone like that, but I would say that regardless of whatever restitution he has to pay back, whatever time he has to do to make good on his crime and that kind of thing, I hope he's haunted by the fact of The detriment to people, right?
The hundreds of thousands, 400 plus thousand users on the platform that were affected by this, not the big investors. I'm talking about people that had their life savings of 50,000 K or less, or, you complete and utter enveloped into the platform, just destroyed, right? Lives completely destroyed. I mean, my situation is not perfect, but
Some people literally, they either retired or were planning to retire, now they can't retire and has messed up their life, has messed up their family's lives, has messed up their children's lives, like generational impact. I hope that that haunts him because it's the only restitution really that the victims will get if they get any money back anytime soon or if they get the full value.
It's a little too late, right? The damage has been done.
Well... I think it's justice in the fact that regardless of the amount of time, which clearly was done as a precedence for nefarious characters that may have plans of doing something like this in the future or are currently in the marketplace and doing things that could be considered fraudulent or affecting the market and consumers of crypto and the currencies and the tokens and whatever.
the innocent that just want to partake in a proactive and positive way. I don't think justice was served in the sense that time in prison with these types of crimes doesn't create a state of what I would call civic restitution for the people that were impacted. Sure, then they could file bankruptcy and they could find the money and maybe get it back to people.
But as I said, there is a precipice of time that is really essential for that to really matter, for people's lives to be not irrevocably changed. There's been a lot of great coverage about the case and about him and about the situation, but not about the systems and the institutions that manage this and manage the blowback of it and are supposed to be in charge of
rectifying and resolving these types of things. I think that's where the justice fails. And that's not necessarily something you can pin on him, but I would rather see him spend less time in prison and have to help with this some shape or form, right? Be on the hook for making this work and happen.
And even if it's going around door to door to the victims and apologizing or something along those lines, then, you know, hiding away in a cell and that kind of thing. And who knows, maybe he will get pardoned by Trump and that'll be just icing on the cake if that happens. But I think the system did what the system was designed to do.
I don't think the system is designed in a way that really is an advocate for the victims in these types of scenarios.
In some respects, yeah. I don't know of this miraculous collection of scenarios that just collate into one massive kind of fallout. I don't know if that could happen again because there's probably triggers and flags in place on all primary scenarios. Changes now that would prevent that from happening or they're very cautious about that happening. Right.
Their attention is so focused on this now that they're not focused on the next thing that could happen. And of course, it's just a matter of time.
I'm not an investor and I'm not a financial advisor, but I have heard plenty of people say and give me advice of an investment is never secure. It is never realized until it's realized. And all you can do is ensure that you're comfortable investing.
with what you are investing in and that you have done enough of the research and vetting that you can minimize as much risk as possible that is known because what's unknown is unknown. And at the end of the day, it's a personal choice. And I would never tell somebody not to do it because of my experience, because it was a time and place and
It could be years before something like that happens again, if it could, but at the same time, it could be beneficial. They could profit from it. It's really their own personal approach to that risk assessment. And I would say for me, have the caution as much, that threshold is much higher than it would be two, three years ago, but that doesn't preclude it from being like any other investment.
Showing 101–120 of 130 · page 6 of 7
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