Once hailed as a genius, Sam Bankman-Fried's cryptocurrency exchange FTX was valued at $32 billion and was promoted by celebrities including Larry David. However, Bankman-Fried's empire came crashing down after he was arrested in the Bahamas for fraud. He lived in a luxury penthouse at a marina in the Bahamas with his girlfriend, Caroline Ellison, and eight other friends. … [Read more...]
Silicon Valley Bank: The Tech Start-Up Community’s Bank
Exclusivity in business has its own benefits and drawbacks. For Silicon Valley Bank, it has discovered a windfall in that exclusivity. Primarily serving the Silicon Valley area, Silicon Valley Bank (or SVB Financial Group) has made a name for itself in the industry as a one-stop shop for tech start-ups. And its investing strategy has catapulted it to heights far above its … [Read more...]
How Bank of America Came to Own Merrill Lynch
Analysts have begun to question whether Bank of America can continue to exist as it’s currently constructed. Among other issues, its 2008 acquisition of Merrill Lynch has saddled Bank of America with higher regulatory and compliance burdens compared to smaller and simpler competitors such as Wells Fargo. This podcast was recorded on May 9, 2016. Imagine owning Amazon.com (up … [Read more...]