Valuetainment - December 01, 2022


A Simple Explanation on Why FTX Went Bankrupt


Episode Stats

Length

2 minutes

Words per Minute

214.5353

Word Count

614

Sentence Count

44

Misogynist Sentences

1


Summary


Transcript

00:00:00.000 It doesn't seem like everything's changing so quickly.
00:00:02.040 One Minute FTX is the company to be a part of.
00:00:03.900 $32 billion, guy raised $2 billion, Sequoia, BlackRock.
00:00:07.100 Next thing you know, they go down, Binance is not giving the money, the guy says, I effed
00:00:11.020 up, and then they just resign and the company's not filing bankruptcy.
00:00:14.340 Twitter's going to Twitter Blue.
00:00:15.460 No, we're not going to Twitter Blue.
00:00:16.540 Yes, we are going to Twitter Blue.
00:00:18.180 Markets going up, markets going down.
00:00:20.140 This person's getting elected.
00:00:21.380 That, it's such constant change, chaos.
00:00:24.180 It's probably the most unpredictable time in a long time where most things cannot be
00:00:30.500 predicted today, right?
00:00:32.120 Economy, elections, all that stuff.
00:00:34.520 So in seasons like this, how should you and I react, okay?
00:00:37.960 If you get value from this video, give it a thumbs up and subscribe to the channel.
00:00:41.560 There's a whole concept of thermostat versus thermometer, okay?
00:00:46.340 A thermometer, the temperature could change.
00:00:48.880 This morning, I'm working in my gym at the house.
00:00:51.600 All of a sudden, I'm sweating.
00:00:52.780 So by the whole floor is wet, because I'm sweating, and I realized the AC wasn't on
00:00:57.320 in that room, but it was on in the other room.
00:00:58.740 So when we look at the temperature of the room, 82 degrees.
00:01:01.080 I'm like, 82 degrees, six o'clock in the morning.
00:01:03.520 What the hell is going on here?
00:01:05.000 My wife comes in.
00:01:05.800 She's trying.
00:01:06.520 Oh my God, it's so hot.
00:01:07.660 Yeah, the thermostat constantly changes, right?
00:01:11.600 We go in the other room.
00:01:12.700 This one had a thermometer because it's changing.
00:01:14.240 The other room had a thermostat set at 72.
00:01:17.200 Clubroom, cool, right?
00:01:18.980 You go in there, you feel the breeze.
00:01:20.420 It felt great.
00:01:21.140 One room's changing based on whatever the conditions are.
00:01:25.640 The other room's like, no, if the conditions get too warm, we bring it to 72.
00:01:29.420 If the conditions get too this, we bring it to 72.
00:01:31.920 It doesn't matter what it is.
00:01:33.360 You're going to come at my pace because I control the pace, right?
00:01:37.020 As crazy as things are right now, as insane as things are right now, the market with mortgage
00:01:42.900 rates, with interest, with inflation, with economy, with election, with everything, this
00:01:47.420 is the perfect season to be a thermostat.
00:01:51.460 Choose your temperature and stay there.
00:01:54.200 This is the wrong time to be a thermometer because if you're acting like a thermometer,
00:01:59.440 the market decides how your attitude's going to be.
00:02:03.520 The market's going to decide how your mood is going to be.
00:02:06.060 The economy's going to decide how you come to work, how you treat people, how you do customer
00:02:10.520 service, how you deal with your family, how you deal with your husband, how you deal with
00:02:13.880 your wife, with your kids, with everybody around you because you're up and down, up and
00:02:17.320 down, up and down, up and down, up and down.
00:02:18.600 I haven't met many great leaders that are constantly up and down who do big things in
00:02:22.780 their life.
00:02:23.780 So, choose a thermostat, choose a temperature you want to be at, and stay there.
00:02:28.220 And don't let anybody around you change your temperature you want to be at.
00:02:33.440 Very hard to do.
00:02:34.440 I didn't say it's easy, very, very hard to do, but if you do that, it's going to serve
00:02:38.780 you very well.
00:02:39.780 Anyways, if you got value from this message, give it a thumbs up and subscribe to the channel.
00:02:42.980 And if you want to go deeper on this topic, there's a video I shot two years ago called
00:02:45.820 The Rules of Mental Toughness, if you've never seen it, click here to watch it.
00:02:49.720 Take care, everybody.
00:02:50.720 Bye-bye.