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FTX, Zuckerberg and What Happened on the DealBook Summit


Sam Bankman-Fried spoke in regards to the collapse of FTX. In his first live interview since FTX filed for bankruptcy, the previous C.E.O. of the cryptocurrency exchange repeatedly said he had not known the extent of its financial troubles and had not knowingly committed fraud or commingled funds. Bankman-Fried blamed the collapse on a “massive failure of oversight and said he was “deeply sorry for what happened.” Read the total transcript, and watch the video here.

Janet Yellen called the FTX collapse a “Lehman moment.” The treasury secretary said that even before the debacle, it was clear that the cryptocurrency industry didn’t have adequate regulation. Watch the video here.

Larry Fink said most crypto start-ups would fail. The BlackRock chief executive, who has long been a skeptic of crypto, placed a part of the blame for the FTX failure on the enterprise capitalists who funded it with little due diligence, a model he said should change. Watch the video here.

President Volodymyr Zelensky of Ukraine rebuked Elon Musk’s peace proposal. He invited the billionaire to go to Ukraine before making pronouncements about methods to end the war there. Zelensky also said that he didn’t think there was a right away threat that Russia would use nuclear weapons. Watch the video here.

Mark Zuckerberg discussed the Metaverse and the Apple app store. The chief executive of Meta responded to criticism over his large investment within the Metaverse, saying that it could pan out in the long run and that augmented reality and virtual reality technology accounted for about 20 percent of Meta’s investment. Zuckerberg also said that the marketplace dominance of the Apple app store was “not good.” Watch the video here.

Benjamin Netanyahu said Donald Trump mustn’t have had dinner with Kanye West. “It was fallacious,” he told Andrew of Trump’s meeting with West and Nick Fuentes, an antisemitic extremist. Watch the video here.

Shou Chew said TikTok could resolve national security concerns over its Chinese ownership. He discussed the corporate’s plans to maneuver the information of U.S. users to cloud infrastructure owned by the American company Oracle. Chew, TikTok’s C.E.O., also said it was still too early to make a giant investment within the Metaverse. Watch the video here.

Andy Jassy addressed labor and layoffs. The Amazon chief executive said uncertainty within the economy had led to the choice to put off what could find yourself being greater than 10,000 corporate and technology staff. He also indicated that Amazon would challenge the March election in Staten Island by which employees voted to form the primary union at an Amazon warehouse in the US. Watch the video here.

Reed Hastings expressed love for Elon Musk and Wordle. Hastings, a co-C.E.O. of Netflix, called Musk “probably the most brave and artistic person on the planet” and said he regretted not acquiring Wordle. Hastings also said Netflix was late in offering an ad-supported subscription tier. Watch the video here.

Ben Affleck made the case for a creator-led studio. The actor’s recent movie studio goals to present Hollywood stars, directors, editors and other creative people a share of the profits — and more control within the work. Watch the video here.

Priscilla Sims Brown explained how finance could help combat gun violence. She is the president and chief executive of Amalgamated Bank, which played a key role in creating a recent merchant category code for gun sales that makes it easier to discover criminality. Watch the video here.

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