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In this episode we discuss the FTX Collapse & Upcoming Market Crash. Entrepreneurs Tom Bilyeu and Patrick Bet David go deep on the current economic landscape.
Welcome to another ground-breaking episode of Impact Theory. I’m excited to have the hard conversations that will potentially help you shape the life you want for yourself and your family.
In this episode, we dive straight into the recent FTX verdict that is sending major ripples though the financial world with the announcement of a potential 100+ year sentence on the horizon.
Patrick Bet-David, founder, creator mentor and highly successful serial entrepreneur joins me to explore the concept that only the paranoid survive. This isn’t about living in fear, but rather about being alert, aware, and ready for any curveball life might throw our way. It’s about realizing that paranoia can be a powerful tool in taking precautionary measures to safeguard your future.
The FTX case is a stark reminder of the importance of vigilance and the critical need to stay informed.
We’ve all had our fair share of missed opportunities, times when we wished we’d paid closer attention or taken a different path. But it’s not just about regret; it’s about learning to optimize for options.
Our exclusive conversation features insights from Patrick Bet-David, who warns, “If you’re going to spend more time on Netflix, more time watching all these shows, […] if you’re going to spend more time on that than building value for yourself, learning new skill sets, yes the market’s not going to favor you the next 18 to 36 months.”
This episode is not just about facing the hard truths, but also about developing resilience and adaptability. It’s about equipping you with the tools and mindset necessary to navigate the turbulent waters ahead. So buckle up for an enlightening journey into the realities of success and economic landscape.
To Pre-Order Patrick’s new book “Choose Your Enemies Wisely” click here – https://www.chooseyourenemieswisely.com
[00:40] FTX Fraud Verdict
[17:17] Bigger Than A Recession
[41:38] Global Meltdown
[54:23] Only the Paranoid Survive
[1:08:35] The Falling Empire
[1:22:04] “Sell Me On America”
[1:41:07] A Stance For Values
Patrick Bet-David Quotes:
“Who in the hell in the first place trusted giving this guy this much money without a board?”
“The best news here is a certain level of accountability taking place.”
“Study closely who you’re in business with.”
“Ask more questions before you jump in with excitement cause other people are getting involved.”
“You’re going to see the first trillionaire in the next 24 months cause none of this is going to affect the guys at the top.”
“If there’s anybody that should be against printing money, it’s low and middle income families, […] the poor and middle America can’t keep money, they spend it, and when they spend it what do they buy, they buy a product owned by somebody in the S&P 500…[…] money flows up.”
“Middle America is getting smaller and smaller and smaller every single time we print money.”
“Right now you have to be looking at this sh*t’s out there. What part of it do I control? What part of it do I have no control over, […] I have to figure out how to increase my market value or else I’m going to get crushed.”
“If you’re going to spend more time on Netflix more time watching all these shows, […] if you’re going to spend more time on that than building value for yourself, learning new skill sets, yes the market’s not going to favor you the next 18 to 36 months.”
“Success is really a game of mixing optimism and paranoia, you’re going to need both.”