Podcast’s Essential Bites:
[8:54] KS: "The DOJ is asking for an independent review of FTX's bankruptcy. The Justice Department wants the probe to review "substantial and serious allegations of fraud, dishonesty and incompetence, which could have damaged crypto as a whole". The filing also described the meltdown as the "fastest big corporate failure in American history". SBF is [...] [in my opinion] going to jail. And I think his little pity party PR thing is not working well for him."
[9:33] SG: "All [SBF] is doing is reminding everyone every day of just how insane and what a spectacle this was. [...] He's being really poorly advised right now. [...] VCs who claimed that institutions and regulators needed to stay out of the way and that the media didn't get it, [...] were the ultimate enablers. [...] It is the height of hypocrisy for them to not be holding up a mirror and [admitting that they] got this wrong."
On Twitter Files:
[15:52] KS: "On Friday, journalist Matt Taibbi released a batch of internal Twitter emails, dubbed the Twitter Files. [...] The emails came from 2020 when Twitter executives decided to block a New York Post story about Hunter Biden's laptop at the time. The company said the story violated the policy about publishing hacked materials. Taibbi's posts showed internal debate over the decision. [...] The reveal was a flop, even right wingers like Sebastian Gorka called it deeply underwhelming."
[17:47] SG: "Jessica Yellin [...] summarized it perfectly. [...] Musk hyped the release of internal communications, exposing the identity of former Twitter employees, claiming it showed interference to suppress a story about Hunter Biden, but the leaked info doesn't show that. And Musk hyping this is another creepy use of the platform to stoke conspiracy theories and drive partisan outrage."
[19:32] SG: "The story here isn't what happened or didn't happen. [...] It's the fact that Elon Musk [...] has now weaponized his platform for a right leaning viewpoint. He didn't release internal communications on the discussions they had around kicking Trump off the platform."
On Content Moderation:
[20:43] KS: "On Friday Twitter suspended the artist formerly known as Kanye West after he tweeted an image of a Swastika inside of Star of David. [...] Ye was the subject [...] of another moderation decision on YouTube. [...] Meanwhile, Amazon CEO Andy Jassy says his company will not remove an antisemitic film promoted by Kyrie Irving. Jonathan Greenblatt of the Anti-Defamation League called on Amazon to add a disclaimer to the film calling it the bare minimum."
[23:39] SG: "It's so important that artists and creativity are given such a wide berth to say aggressive, and at the time, maybe inappropriate things. And then Netflix was right to leave Dave Chappelle up. The problem is, when these organizations become such global conglomerates, and you have autocracies, specifically China, that becomes so important to shareholder value, that you end up with John Cena giving an apology in Mandarin, saying I apologize for saying Taiwan was a nation. [...] It's a real issue here and it's a function of size."
On Twitter's Brand:
[37:20] SG: "The Morning Consult [did] a net favorability rating, where they say, do you have a favorable view of the brand and then they minus the number of people who have a not favorable view of the brand. And across all US adults, the Twitter brand has lost 5.5 percentage points, the Tesla brand 6 percentage points. Amongst Democrats [...] Tesla has lost net favorability of 20.3% just in 30 days, October to November. Across Republicans, it's up 3.9%. [...] Twitter, embracing right leaning ideology on a net basis is a really bad idea."