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Episode 254: Moneyball II (Patreon)

Published:
2022-11-19 02:33:44
Imported:
2026-06
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Content

We call the Bahamas and talk FTX, Sam Bankman-Fried, BIG DOLLAR DONATIONS, polycules and plenty of clues in the aftermath of the latest crypto scam explosion. 

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Comments

Lucas

Brace Belden’s Guide to Having Sex For More Than Seven Minutes is sold out on Amazon😤

Pogzy Gogs

Never talk to Liz like that ever again.

Toddy Todd

Bitcoin more like bitcum

Emioly

😺😺😺

Mitch

Sam was somehow able to cash enough out to be one of the big donors to Jonathan Jackson's illinois 1st district primary

NYCM&AHole

Prager Metis just Arthur Anderson’d itself

NYCM&AHole

Also caveat emptor if you give that creepy little shitbag nerd any money

NYCM&AHole

Lol Joseph a bankman suits

PrinceVocalFry

I'm guessing this one will need a repeat listen, which is great because I've got some long holiday driving ahead of me this weekend. Oh, and it's definitely "champing." Champing is something specifically horses do. How would you "chomp at" something? you chomp *on* something, like a slice of cheese pizza

Louie Van Patten

I don't know about champing and chomping, but I know about cribbing.

J

I don’t know what’s worse: the TrueAnon Stans, or the All-In fanbase. . .

NYCM&AHole

Bring Alexandra Skaggs on

Isaac

5 years in the north bay and I’ve managed to go to both Santa Cruz and San Jose. 🤔Avoiding Palo Alto though screw that place!

Brian Long

“A mousy woman” lmao

Brian Long

Brace you’re killin’ me. Lmao

I am become reply guy

Whenever Liz talks about finance I feel stupid. What’s a stock? Am I a stock? Am I wrong to think it’s all made up? Because to me it just feels like elite self-dealing disguised with the language of technocracy and merit.

Michael S. Judge

I just realized that Sam Bankman-Fried's email address is the Fibonacci series. Incredible

Adam B

When I heard coindexter’s voice I stood up and applauded like when Kramer would first walk into an episode in Seinfeld

The Dee's Knees

Imagine that we got another man in a big leadership position who can't seem to help himself at the same time as Musk. It's always a treat to hear you dig into these things, I'm happy you found the time to do it!

chris higgins

What video are they referring to at the end?

Zach

you guys need to take a trip to Santa Cruz pronto

Sean

Where’s Skaggs we want Skaggs

sir peepus

YC, your translations rule

DumbDumDumbDumb

I think SBF is more of a sock puppet for his liberal fundamentalist parents in exchange for getting to have some of the worst sex in history

Pepipopa

As a guy that gre up in game economies I gotta say liz is very correct on how some of the gaming community sees the world the libertarian style inkdivial main character stuff is insanely real

Go'Thrak

Foot Toe Xchange is disrupting the Wikifeet monopoly

danny

is that a picture of trevor noah

Pearl

suuuuch a good ep

ffffffff

as someone who works in philosophy, thank you for correctly identifying effective altruisim as a new nazi movement - you can't reason with philosophers regarding how fucking moronic they are its so fucked

Dan Gorry

That Janet Yellen joke was an all-timer from Brace

gardenwallflower

Hillsborough is not South Bay! That’s the Peninsula. San Jose is like 45mins away from Hillsborough. Your geography is atrocious for Bay Area natives. Elitists

Ben

Brace says "just regular amphetamine", but SBF is on EMSAM patches which metabolize to both amphetamine AND methamphetamine. So Liz was technically correct, sort of.

TrueAnonPod

That’s like saying marin isn’t the north bay or that Concord is in the Bay Area. Simply untrue…

Nic Bodiford

Brace Belden; milking the colon

Trevor

Liz woke up and went death con 3 on the gamers

Biglacheese

I have a friend named gabe and in high school we would call him Gabe Aby, and also my favorite, Gabe Athhouse

Robert Armstrong

“[L]ittle cock-suckin’, fuckin’ mutant” might be my new favorite epithet.

james

Rational altruism as a moral excuse was a theme in the last season of Billions.

Seth Aronovich

Ah, Jonathan Jackson, the anti-BDS, pro-aid to 'israel' guy. Funny how that works

Seth Aronovich

I'm loving the reactions from the Bitcoin freaks AFTER the fact where they call FTX 'a casino'. This is true. I signed up to FTX and used it (solely) to bet against Trump's reelection, which is obviously not a real 'futures contract'. It was a pain to get my winnings out and noone in their right mind would use it for trading crypto (yes, you can be in your right mind and trade crypto, if you have insider info). Also heavily KYC'd up which makes it worthless for the actual use case of crypto, which is sending funds to the Axis of Resistance.

orc

RIP Jessica Walter tbh

Peter Annee

I used to be horribly addicted to video games. In particular I was addicted to world of Warcraft- and I am far from alone in this specific game ruining lives. Liz’s comments about lack of consequences made me remember that one of the “innovations” that made the game really take off, that many subsequent games adopted, was minimal consequences for dying. There’s allot of truth in what Liz is saying

Ian P

Tech Won’t Save Us did a podcast episode about longtermism - 116. The Dangerous Ideology of The Tech Elite w/ Phil Torres.

Naked_SoNUshka

Thanks for another amazing podcast. You always keep us informed about everything! Take care!

Cameron Young

I would like to formally invite Liz to Santa Cruz to attend a Santa Cruz warriors game with their new star James Wiseman. Come up and we will buy you a hoodie and tell you where not to surf

Smith's Fine Electric Amusements

Liz... I love what you guys do, but for you to go in on "gamers" when that's basically 99% of the population under 40 right now, and to try to lump anyone who plays games with these psychopaths at the top of society... while literally GUESSING, incorrectly at what the term "nerfing" means. How about don't talk about stuff you understand nothing about? It really doesn't give me confidence in the rest of your analysis of other topics and honestly just makes me want to chalk you guys up as two dum-dums, flailing to criticize the ruling class so much, you end up jumping at shadows. There's no reason to do this! They don't have empathy because they're psychopathic narcissists! We know this! Bankman didn't think it was okay to steal other people's money because he'd played a video game before! He stole their money because everyone in our society thinks that money is just skeeball tickets that come out of a machine, not just "gamers" everyone thinks that. They're trained from birth to not think about how the economy actually works and to just find a way to "get money". They all have no understanding of the labor theory of value. Hence why they don't unionize, and just step over their peers at every opportunity to get higher up the ladder. It's NOTHING to do with video games. How about you blame violent movies about the Joker for causing school shootings, or plays, or books next? It's a moronic line of brainless thinking.

Matelda

Sunscreen is very good

Matelda

Until recently i thought it was just a website that vetted nonprofits by overhead-to-aid ratio. Im glad to be brought up to date on the situation.

Lewis

I like when u can hear YC giggle. Permanent mic for YC please

Lewis

Sometimes I cannot hear when he says things bc it is so quiet

Alec

hey lew, its me alec

Of course

I didn't hear any comparisons or parallels to the Jeffrey Epstein finance-lifestyle-weird-ideology-govt-official-connected-island-centered set up. Waiting for the intelligence "community" angle to drop.

Peter Annee

A 4 paragraph defense of gaming will surely convince everyone I don’t have a problem

orc

New copypasta just dropped

Smith's Fine Electric Amusements

Good one dude, when Twitter goes down, how are you going to decide what glib lines to parrot out like a bot?

Smith's Fine Electric Amusements

I'm not even defending "gaming", it is a waste of time for children. Liz's attempt to map classic, same as always, excesses of the capitalist class to some sort of learned behavior from gaming is just moronic and based completely in some vibe she has about it that she pretty much invented on the podcast out of thin air and whole cloth. It's just very intellectually vapid.

G. Sandwich

liz what were you going to say about matt levine ?!

Lewis

I knew this would happen. Do you agree w this

Julian Kirkby

I am glad brace is finally getting in on the bi vs pan discourse

Andrew Rassling

I can see the "might makes right" and "cooperation between labor and capital" angles but you got anything else to read on this? I just heard the name and elevator pitch and said "oh this is bullshit" but now I wanna know how deep this snakepit goes.

Chris

I’ll show u a money ball ii

Eoghan Flanagan

"Your magic bean is now approaching the VERY BAD PRICE of zero dollars" LOLOLOLOL

jack dulworth

I need to guide on how to make it one minute

Jawn Feddermang

True anon tips/ red flag ratio falsely inflated TA tokens so coinedexter could liquidate. Do your research

Devon Hansen

Financial markets and, really, capitalism in general, were essentially gamified systems long before video games existed. And lack of regard for the human consequences of vicious pursuit of capital also predates video games so…?

Luke F

I'm playin Time Crisis 3

12 o Clock in the Midnight

Steve jobs and bill Gates definitely played DnD. Imagine the shit they got up to with their lvl 69 Astral Wraith

Go'Thrak

Also extremely underrated "Mennonite Stock Exchange" joke

Stim Scrounger

not the phets talk applying to my adhd ass !! 😜

Olympia

i'm from the south bay and we don't claim hillsboro

Ryan Ford

working on a shirt design for y'all with Brace viciously fingering Janet Yellen

jellygrave

pretty choice to hear brace say not to act like a baby. when i talked to him in philly, he said he’s “working on big things for the adult baby diaper lover community”

Smith's Fine Electric Amusements

Cringe was when Young Chomsky had to bail her out by trying to lead her down a different path of talking about "minmaxing"; which honestly was a pretty banal, stretch of a statement too, but at least he knew what the term actually meant, so some points for that. Oh no I said "points" must be because of all those dang video games I played.

Smith's Fine Electric Amusements

Right, only glib, sentence fragments deserve to be taken seriously. You should check out 4chan, you'd fit right in there with your self satisfied channer takes. Das Kapital is cringe, tldr.

Ipota

i have 2 tickets for the sf show on 25th Nov for face value, text me at 3109937435

weedworf

Never a good thing when u hear the name of your parents pension fund in a truanon episode about a collapsed financial scam 😬😬😬

SF

Surprise coindexter made me spit out my water

burpdizzle

What happens in San Jose stays in San Jose

Billy Billy

Video games do have consequences: you lose, your friends die or your success is completely lost. Most games nowadays punish you for the smallest mistakes. I would think capitalism at its baseline contributes more to these sociopathic individualistic tendencies in fraud. Crypto is a speculative asset and we are reliving the actual Ponzi scheme from the 1920s. They didn’t have video games then? Also I’m a dude who plays video games lol

Brendan

This is wild, my local chinese restaurant gives FTX crypto fortune cookies

mr. mutzadel

Folks sure are protective of their vidya

Sandy

I think there is definitely something to what Liz is saying about Video Games + social media contributing to a narcissistic nihilism in which life is a game with no meaningful personal consequences for your actions. I know I went a bit insane in middle school using video games and the internet to escape from my personal problems. That being said, it's important to note that throughout history this mindset, or something similar, has always been the case for those with a very large amount of money, resources, and connections. This new technology acts as to reinforce and expand this mindset, and mutates it in a very strange way that Brace calls "computer thinking." I don't think that Brace understands computers enough to really articulate it properly, but he's definitely on to something. With the EA stuff, It's clear that weather or not their logic is comparable to that of a computer, they steep their insane beliefs in the language of adding and subtracting variables, when it really boils down to noblesse oblige. It's like they think that because computers are based at the lowest level on "logic gates" this "logic" can somehow be extrapolated into a divine moral logos, or higher truth. They want to simplify everything into a limited set of trackable numbers. From there they can then build some sort of state or economic or corporate algorithm that determines how all these "variables" interact in such a way to increase the value of the moral, or goodness, or happiness score. Determined by their algorithms of course. Deus Ex Machina in truth. Of course, this is impossible. But many elites, though not all I'm sure, seem to think that what results from the process of the attempt will be beneficial to them in some way. Even if only for their pocket books. I personally think that even those who actually know anything about computers kind of seem to just throw around the computer logic language like Hubbard did with science. It doesn't really apply, they just want it to.

Ipota

lmaoo smh

Shiv

what a feckin nerd

Shiv

great YC giggles this ep

Shiv

“I never saw it” “It’s real life!”

Shiv

and then you fainted?

Shiv

i also have one (1) ☝🏾 for SF 11/25

Welfare state

Don't be stupid Liz, King Leopold didn't need WoW to chop hands off kongolese, capitalism gives you the ultimate excuse: Screw them over or you will be screwed over.

Ricardo

We need a Scaggs episode. Release the Scaggs!

Ded1000

Whats wrong rwith Mat Levine? Aside from working for Bloomberg

QUARANTINE DREAM

liz is a huge proponent of his analysis tbh, she's mentioned him a lot re: the elon stuff, and i sub'd to his newsletter because of it. He is pretty sharp, funny...probably though yeah, he's not "independent" in any way, he does work for Bloomberg.

Ded1000

Yeh his newsletter is pretty good but Liz says "I've got something to say about that guy" then doesn't elaborate. Am curious

DH

sorry you're right, kids sitting around almost every waking moment of the day sitting in front of a screen shooting people in a virtual world or whatever has no decipherable effect on their psychological development

DH

counterpoint: vidya bad

Jessica S

Such an amazing episode. And I appreciate Brace’s explanation that his use of “neuro-atypical” isn’t him using a shorthand for autism or similarly related. I’m not saying that NO autistics/neurodiverse individuals can have asocial traits or embrace asocial beliefs. But there’s still a misconception that autism means social deficits or missing the Other Mind piece. It’s no criticism of those who think that, b/c it was widely believed among experts for decades. It wasn’t until the number of autistics advocating for themselves prompted researchers to revisit that theory, discovering many holes in it. Anecdotes ≠ evidence, however in my experience as a parent of an autistic kid and many years of advocating for inclusion and curriculum differentiation within public schools, if anything there’s a hyper sensitivity to the emotions of others and of self, where it’s almost too much to control. And/or it can be that sensory input in social situations + that hypersensitivity make self-aware choice challenging. My son is perhaps one of the most genuinely compassionate kids I know, as are so many of those I’ve come to know. They are more often fiercely justice oriented and their worst crime is not following the top down structure of school and work. I feel like many of these self-professed autistics seem to be professing it after they commit social taboos or outright fraud. They use it to their advantage, sort of like “well I can say b/c my wife is black” lol. Idk, that’s just my take. At the very least, if on the spectrum, their actions aren’t due to the autism, they’re just jerks.

Jessica S

Also, re: video games, it’s hard to find the causation of those sorts games and the actions of the players. Are the players changed by the game or does it activate a preexisting trait? I tend to go with the later, otherwise we’d be teeming with sociopaths as a species. Well, more than we already are, lol.

Svid

Yes it's video games teaching people that consequences don't matter not the elites they want to be like getting away with murder, or our government reps getting away with murder, or our military getting away with murder. As long as your heart is in the right place murder is OK even if it was done unjustly is the lesson all these people teach and they do it in the real world instead of a virtual one

Svid

Most games these days do not punish you for the smallest mistakes. Maybe most games you play but that says more about your taste than the state of video games as a whole

Mike Penix

As someone legit addicted to 2k This is a bad look

Peter Annee

I really don’t think Liz says they are responsible. She suggests they make the problem worse. Video games are much worse for an individual than regular games. I don’t know why exactly, but compare the amount of people that have collapsed from continus chess playing. They have a different effect on the nervous system and there’s a reason army recruiters show up to COD tournaments.

a clash of purple

Lace and Briz don't know what they're talking about... And it's pretty absurd for an internet podcast to tell you not to trust video games. It's like when movies tell you not to watch TV.

justdave

Ummm, technically everything is the fibonacci sequence 🤓

justdave

Well iiii play chess, which is why iiii'm a pedophile

mari

it wasn’t reactionary lol… we are all subtly psychologically affected by the media we consume, especially as kids. she was saying that video games teach simple consequences whereas real life is full of complex consequences. for a certain type of person (maybe someone who is already developing a slightly narcissistic or sociopathic world view) that message is going to stick if repeated enough. v simple and doesn’t necessarily apply to everyone.

TreeCatSnakeBird

I've been saying this. Thank you for validating my suspicion that my mom took my Xbox away because of her reactionary petty bourgeois class character and not for any other reason.

uya

https://youtu.be/j05fPzz4YS8 This guy is a bit of a crank — at least in terms of his ideological worldview — but the investigations he does are always legit. I think you guys should really look into this. It’s a video on how the CIA has been working on setting up a “Central Bank Digital Currency” that is not a currency technically but an asset. This would open up the door for a ton of insane invasions of privacy / fucked up things / etc. Like giving the govt the ability to program unemployment recipients payments to bar them from certain purchases. Or freeze your bank account for being a person of interest etc. He also proposes a theory that FTX was basically a psy-op so the govt could swoop in and enact the proper regulations they need to set this up. (not like it was planned but the disaster was seen in advance and allowed to happen). I don’t feel very strongly one way or another about that, but this project in general seems right up your wheelhouse. I feel like nobodyyy is talking about this. I don’t understand how I’ve never even heard of it before for how consequential its creation would be.

Michael Ouderkirk

While, yes, chAmping is correct, one can absolutely chomp AT something ...and this is where I'd put a gif of Homer Simpson chomping in the direction of a pie "and if you get eaten, it's your own fault"

Ben Clarkson

Video games have a condition of production so they are not socially unconditional.

Stack

The gasp sound effect was a jump scare

Doug Cartel

"effective altruism" just sounds like a brand new college grad who didn't give up on the notion that once he got a good enough job he would just donate to charity more than what he thought was the average in his group

lewis

Emailed

K H

The behavior Liz is describing is what happens when you're rich and socialized only through memes and media idolizing sickos. When you're born being told you were meant to change the world and never told NO

orc

gamers are so sensitive