Episode 94

Midterm, FTX, Dot-COM Bubble 2.0, Salary Transparency Laws

Ravi and Rikki analyze the final results of the 2022 midterm and how both parties are assessing their performance. They then delve into the remarkable rise and fall of cryptocurrency exchange FTX and its enigmatic founder, Sam Bankman-Fried. That’s topped off by a discussion about struggling tech companies, and whether we’re on the cusp of the next dot-com bubble. Finally, the hosts take a look at a new pay transparency law in New York City and what it means for employees and employers.


Rikki reviews key midterm election results as the final data pours in and the chatter that has already begun over 2024 elections.

Ravi elucidates the collapse of FTX, the negligence of its leadership, and how its bankruptcy will affect the crypto world at large.

 Rikki and Ravi compare today’s tech company woes with the dot-com bubble of the early 2000s.

Rikki lays out the pieces of NYC’s new salary transparency law, how its implementation has gone, and whether other cities will adopt the same policy.

Midterm [2:55]

Election 2022 Results and Live Updates (ABC News, 11/15/22)
More voters prefer DeSantis to Trump as 2024 GOP nominee: Poll (Axios, 11/13/22)
VoteCast: Inflation top concern, but democracy a worry too (AP, 11/9/22)
Club for Growth steps on Trump relaunch with polls showing DeSantis beating him (Politico, 11/14/22)
Kayleigh McEnany: Trump should wait until after Georgia runoff to declare 2024 candidacy (The Hill, 11/9/22)
Rupert Murdoch Is Having the Same Problem Dr. Frankenstein Once Faced With His Monster (The Intercept, 11/11/22)
Trump expected to make a ‘special announcement’ at Mar-a-Lago on Tuesday after months of 2024 rumors (Insider, 11/14/22)

FTX [11:18]

Sam Bankman-Fried steps down as FTX CEO as his crypto exchange files for bankruptcy (CNBC, 11/11/22)
Uniswap Labs tweet (Twitter, 11/9/22)
You Can Forget About Crypto Now (The Atlantic, 11/11/22)
Sam Bankman-Fried’s crypto exchange files for bankruptcy (The Economist, 11/11/22)
Who Bears Blame for FTX’s Failure? (NYT DealBook, 11/14/22)
Bernstein: The Collapse of Crypto Exchange FTX More Like Enron Than Lehman (CoinDesk, 11/15/22)
$515m is STOLEN from collapsed crypto exchange FTX in matter of hours… but is it hackers or an inside job? New CEO locks down remaining funds in secure storage as FBI is called in and amateur sleuths try to track down thieves (Daily Mail, 11/12/22)
FTX Accounts Drainer Swaps Millions in Stolen Crypto, Becomes 35th-Largest Ether Holder (CoinDesk, 11/15/22)
Sequoia Capital tweet (Twitter, 11/9/22)
From powerhouse to plummeting: Here’s a timeline of FTX’s collapse (Protocol, 11/13/22)
Could Sam Bankman-Fried go to prison for the FTX disaster? (Fortune, 11/13/22)
Crypto and Twitter Are Imploding at the Same Time and It Is Glorious (Bulwark+, 11/12/22)
H’wood FTX Frenzy as Michael Lewis Reveals He Spent 6 Months with Founder (The Ankler, 11/9/22)

Dot-com Bubble 2.0 [34:56]

Tech’s Talent Wars Have Come Back to Bite It (NYT, 11/10)
Is the Dot-com bubble 2.0 about to bust? (The American Genius, 11/8/22)
Layoff spree in Silicon Valley spells end of an era for Big Tech (WaPo, 11/14/22)
Amazon to lay off thousands of employees -source (11/14/22)
Dot Com Bubble 2.0 ? (Tavag, 5/24/22)
Big Tech’s hiring splurge makes cost cuts even harder (Axios, 10/28/22)
15 Biggest Tech Companies In The World After The 2022 Stock Market Collapse (Yahoo, 11/14/22)

Salary Transparency Laws [48:38]

4 million NYC workers will now see how much jobs pay before they apply—here’s what to know (CNBC, 10/31/22)
Should You Share Your Salary With Co-Workers? Here’s What Experts Say (8/14/18)
The Case Against Pay Transparency (Harvard Business Review, 9/30/16)
NYC companies quickly find ways around new pay transparency legislation (Gothamist, 11/1/22)