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FTX, Zuckerberg and what happened at the DealBook Summit

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Sam Bankman-Fried spoke about the collapse of FTX. In his first live interview since FTX filed for bankruptcy, the cryptocurrency exchange’s former CEO repeatedly said he didn’t know the extent of his financial troubles and that he had not knowingly committed fraud or mixed funds. Bankman-Fried blamed the collapse on a “massive oversight failure and said he was ‘deeply sorry for what happened’. Read it full transcriptand watch the video here.

Janet Yellen called FTX’s collapse a “Lehman moment”. The Treasury Secretary said that even before the debacle, it was clear that the cryptocurrency industry lacked proper regulation. See the video here.

Larry Fink said most crypto start-ups will fail. BlackRock’s chief executive, who has long been a crypto skeptic, blamed some of the blame for FTX’s failure on venture capitalists who funded it with little due diligence, a pattern he believes needs to change. See the video here.

Ukrainian President Volodymyr Zelensky has rejected Elon Musk’s peace proposal. He invited the billionaire to visit Ukraine before making statements on how to end the war there. Zelensky also said he did not believe there was an immediate threat of Russia using nuclear weapons. See the video here.

Mark Zuckerberg talked about the Metaverse and the Apple App Store. Meta’s chief executive responded to criticism of its large investment in the Metaverse, saying it would materialize in the long term and that augmented reality and virtual reality technology accounted for about 20% of Meta’s investment. Zuckerberg also said Apple’s App Store market dominance was “not good.” See the video here.

Benjamin Netanyahu says Donald Trump shouldn’t have had dinner with Kanye West. “It was wrong,” he told Andrew of Trump’s meeting with West and Nick Fuentes, an anti-Semitic extremist. See the video here.

Shou Chew said TikTok could resolve national security concerns over its Chinese ownership. He spoke of the company’s plans to move US user data to cloud infrastructure owned by US company Oracle. Chew, CEO of TikTok, also said it was still too early to invest heavily in the Metaverse. See the video here.

Andy Jassy addressed work and layoffs. Amazon’s chief executive said economic uncertainty led to the decision to lay off what could end up representing more than 10,000 business and technology workers. He also said Amazon would contest the Staten Island March election in which employees voted to form the first union at an Amazon warehouse in the United States. See the video here.

Reed Hastings has expressed his love for Elon Musk and Wordle. Hastings, co-CEO of Netflix, called Musk “the bravest, most creative person on the planet” and said he regretted not acquiring Wordle. Hastings also said Netflix was late to offering an ad-supported subscription tier. See the video here.

Ben Affleck has made the case for a creator-led studio. The actor’s new film studio aims to give Hollywood stars, directors, publishers and other creators a share of the profits – and more control over the work. See the video here.

Priscilla Sims Brown explained how finance can help combat gun violence. She is president and CEO of Amalgamated Bank, which played a key role in creating a new merchant category code for gun sales that makes it easier to identify illegal activity. See the video here.


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