Valuetainment - December 01, 2022


A Simple Explanation on Why FTX Went Bankrupt

Hosted by
Patrick Bet-David
Mentioned
Twitter Blue Binance
BIGGEST MARKET CRASH LOSERS - Types of Investors Who Will Lose It All In This Recession 2023 Predictions- Investigations, India, China, Unemployment & Other

Episode Stats


Length

2 minutes

Words per minute

214.54

Word count

614

Sentence count

51

Harmful content

Misogyny

1

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

As crazy as things are right now, this is the perfect season to be a thermostat, because if you are acting like a thermometer, the market decides how your attitude is going to be. The economy decides how you come to work, how you treat people, and how you deal with your family.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
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. 0.91
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.