Jamie Loftus

Here's the thing.

And here is why there's that lawsuit against like Larry David and all those other guys who appeared in the FTX ad.

Yeah.

Yeah.

So presumably a bunch of regular people got suckered into putting their money on FTX and those people have probably lost some money.

That said, for the most part, it's fine because most of the people who lost money are like gamblers who probably suck as much as this guy did.

And it's one of those things.

There's just an article, I think at Financial Times, where someone was like, actually, and I think they actually had a good point.

We shouldn't regulate the crypto industry because if we regulate it, it will be brought in closer to the actual financial industry as it exists and banks will put more investments into crypto.

And it will get seen as like legitimate and backed by the state.

And so when these con men destroy tens of billions of dollars overnight and cause panic in the industry, it will affect the real economy.

And right now it doesn't seem to.

And like, yeah, I guess that is kind of that's not a bad point.

Maybe we just let it die on its own.

I don't know.

One of the things that's funniest about this is that Sequoia, this investment firm, put like $200 million into the company, which they have all written off now.

They're accepting it as a total loss.

It's massive investment.

Now, when you hear this very serious investment firm put $200 million into this business, you probably assume, Jamie, wow, I bet he had a good pitch, right?

Yeah.