The FTX Collapse I Dave Smith I Part Of The Problem 930

Dave Smith and Robbie The Fire Bernstein bring you the latest in politics! On this episode of Part Of The Problem, Dave and Robbie take a look at the recent collapse of FTX, and what that means for the financial markets the world over.
This episode was recorded on 11.15.22

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Dave Smith and Robbie The Fire Bernstein bring you the latest in Politics three times a week, with the promise of bonus episodes! Libertarian Philosophy mixed with a sense of humor, POTP is one of the leading voices in libertarianism.

Dave Smith is a New York based stand-up comedian, radio personality, and political commentator. Dave can be seen regularly on “The Greg Gutfeld Show” and “Red Eye” on Fox News, as well as “Kennedy” on Fox Business Network. In 2013 Dave was featured as one of the New Faces at the prestigious Just For Laughs Comedy Festival in Montreal. He was also a featured performer on the New York Comedy Festival’s “New York’s Funniest” showcase in 2014 and 2015. Dave’s outlet for his social commentary is his podcast, “Part of the Problem,” which is available on iTunes. Dave is also co-host of “The Legion of Skanks” podcast, available on the GaS Digital Network.

Written by Dave Smith


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  1. Do vegan's eat eggs? 42:03 behind his left shoulder. Nope! But psychopaths will virtue signal as vegan, or philanthropic, or ethical, and they will sucker you out of your money, and still think that they are the good guy.

  2. The intro really stuck with me, I just got done listening to the Mostly Peaceful Latinas Podcast, and they were spiraling about people criticizing Trump. They hardly had any good arguements about how bad his last year in office was and resorting to insults to people. They're so loyal to Trump that they can't take any constructive criticism of the guy and end up taking it personal.

  3. Kurt’s anger during that debate was so funny. At one point once the sitch guy changed your argument for the 5th time Kurt just goes “HOW THE FUCK ARE YOU STILL THIS WRONG EVERY SINGLE TIME?”

  4. The FTX collapse is not the first and unfortunately not the last…and it's the investor that are hurt.. in fact we wrote about this topic in our book, in the chapter "Idea Oracles" … "based on entrepreneurial folklore, failures and losses are an essential precursor for future success. However, if this system is responsible for the next generation of idea selection,, how many ideas will it get wrong, or simply miss, before they eventually get it right? What is the cultural and societal cost of getting it wrong as the power and impact of technology morphs and scales? There are many rose-tinted innovation gurus, that feed off the speaking circuit, and lavishly polish the crowns of entrepreneurs while praising them with the rare ability to frame the future. In reality, while some are incredibly gifted in summoning the odd-entrepreneurial genius out of a bottle, very few of them have a full-proof system for continuously pre-selecting winning ideas. This means that our society can’t always confidently rely on delegating our future to the jitters of the capital market or even the world’s best entrepreneurs and investors to get ideas right for our planet, 100% of the time. The system is designed to run on fuzzy logic."

  5. SBF looks like the kid who used to sit at the back of the class and eat his own boogers.

    There's that kinda vacant empty look about him like something isn't wired quite right.

  6. Lol could've picked a better ad read for this episode.

    Dave: "I can't believe people fell for this guys investment scam"

    Dave 5 seconds later: "here's why you guys need to invest your money in micro shares of fine art"

  7. Masterworks, FTX, same diff. BTW, O'Leary could have been our Prime Minister (Canada), guess he would have been better than Trudeau but not by much. As for the douchebag Bankman, he also financed through a non-profit subsidiary a study that slammed Ivermectin. Completely bogus study that was picked up by the NYTs and other publications. And as for Rand, she was a racist, few of her followers realize that.

  8. Robbie the fire Bernstien really was a hero for taking on that crowd like that man. That was super brave and your performance was great! You totally schooled an immunologist in her own field on the covid lies!!

  9. 3:59 Dave's point here resonates with me quite a bit. My biggest weakness is probably also a strength (in some ways) in that I'm extremely paranoid or insecure about not knowing something in my professional life and getting destroyed by someone who knows something I don't, so it drives me to often over prepare. But is that really a bad thing? Maybe if there are time constraints, but in general, you want to be on level 12 and moving upwards constantly over time, but also be humble enough to admit when you're learning something new no matter how veteran you are because in my view, that not only gives you intellectual credibility but also allows you to free yourself from worrying so much about the unknown unknowns.

  10. I was reading the possibility that something like this happening opens the door to crypto's being more heavily controlled and regulated by the government and that's why some proponents of these currencies are disappointed in this, because it may set the whole precedent for how they will be handled in the future. If I wasn't a smooth brained asshole i could explain it better. There are good arguments that some types of crypto are the key to ensuring our financial freedom from governments and large corporations worldwide, something to that effect.

    But fuck all that i'll stick with shiny, land, food and lead.

  11. After watching this FTX dude’s video of how “great” he is, why do I think he or his cohorts aren’t going to spend a day in jail. Correction, the one person apart of one of his companies that gave to the Republican Party will be the one who will be the fall guy.

    Plus, if he was all about charity, the why did he live in the tax haven if the Bahamas?

  12. Don't you think it's interesting that this happened on the day of the election? Or the fact just a couple days after the contagion spread throughout the cryptoverse that us banks started trials of CBDCs?

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