Larry David was right. Well, "Larry David" was right. Larry David was very, very wrong.
Do you remember those Super Bowl commercials, when supposedly contrarian Larry David declared that crypto will never work? Make that "Larry David", for the real Larry David definitely invested (at the minimum, he took money from FTX to make those ads). "Don't miss out on crypto" was the message.
On Monday, November 7, 2022, Sam Bankman-Fried, the founder and CEO of FTX, was worth $16 billion. On Tuesday, November 8, his worth dropped to under a billion. On Friday, November 11, he was flat broke. In one short week, the crypto empire he build completely collapsed. (There is no telling if the 30-year-old had to move back in with his Jewish professor parents, but we wouldn't bet against it.)
"Don't be like Larry", the ads said. We hope people listened!