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Jamie Loftus

๐Ÿ‘ค Speaker
4079 total appearances

Appearances Over Time

Podcast Appearances

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

That's actually not math.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

You are using hundreds of words and high-minded bullshit rhetoric to be like, gambling is the best way to make money.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

Yeah, man.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

You know who I've heard this basic argument from?

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

My friends drunk in Las Vegas explaining what they're trying to play at the crap station.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

No.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

And here's why.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

You want to hear my mathematical thinking on gambling, Jamie Loftus?

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

Because this will make more sense than anything that happens in the Sequoia article.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

When I go to Las Vegas, I find me the penny slots where I can see the most waitresses walking around with those little trays that they have the drinks and stuff on.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

Then I sit down at them and I don't start to play until one gets close to me.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

And then I press the button as soon as she walks past and I like catch her attention and then I get a free drink.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

And the way that it works out is that as long as I can get more free drinks that I'm spending at the penny slots and mostly I'm just reading a book and hiding it while I'm at the penny slots and I only press it when the waitress gets near.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

I,

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

I can drink effectively for free, right?

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

It works out to be like 25 cents a drink if you're really smart about it.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

That is pretty smart.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

And that's my financial advice to all of you.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

how you make it even better.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

I used to go with a bag because when I was poor, what I would do is I would go to Vegas once every couple of years, usually for work.