Kevin O’Leary: I invested in FTX. Here’s the big problem with crypto.

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  • čas přidán 31. 07. 2024
  • Crypto is a lot of things, but it isn’t a currency according to Shark Tank investor Kevin O’Leary, aka “Mr. Wonderful." What would it take to get there?
    Subscribe to Big Think on CZcams ► / @bigthink
    Up next, The “sex drive” myth, debunked ► • The science of sex dri...
    Is the collapse of a $25 billion cryptocurrency startup a death knell for the industry? Not according to Kevin O'Leary, an investor, businessman, and author. He sees the failure of FTX as a speed bump rather than a roadblock, underscoring the distinction between speculative assets like Bitcoin and more stable entities like Stablecoins.
    Despite the turmoil, O'Leary maintains that the potential of cryptocurrencies remains vast. He foresees their integration into the global economy but contends that this can only happen successfully with appropriate regulation to curtail the sector's “Wild West” tendencies. As the cryptocurrency community awaits the final outcome of the SEC’s lawsuit against Ripple and other companies, it remains to be seen whether or when digital assets will be incorporated into our daily economic lives.
    0:00 FTX's "utter catastrophe"
    0:58 What crypto is missing
    1:23 Speculative assets vs. stable coins
    3:10 Should we trust the government to regulate crypto?
    5:45 Where do we go from here?
    Read the video transcript ► bigthink.com/series/the-big-t...
    ----------------------------------------------------------------------------------
    About Kevin O’Leary:
    Kevin O’Leary, known as “Mr. Wonderful” and “Uncle Kevin,” is a businessman, TV personality, and investor. Co-founder of SoftKey International, he orchestrated its $4.2 billion acquisition by Mattel. O’Leary later ventured into asset management and became a prominent investor on the TV show “Shark Tank,” where he delivers candid business advice and cuts deals with his famous no-nonsense approach. He is also currently chairman of O’Leary Ventures and promotes financial literacy by empowering individuals with pragmatic guidance and best-selling books, such as “Cold Hard Truth” and “The Cold Hard Truth on Men, Women, and Money.”
    ----------------------------------------------------------------------------------
    Read more of our stories on crypto:
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    Cryptocurrency and the “greater fool” theory of economics
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    ► bigthink.com/the-present/cryp...
    ---------------------------------------------------------------------------------
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Komentáře • 880

  • @RobChapman-Smith
    @RobChapman-Smith Před rokem +367

    Hey y'all, this is Rob, I'm the Editor-in-Chief of Big Think.
    I see many folks are wondering why we had Kevin O'Leary on to talk about the future of crypto.
    In my view, one of Big Think's essential functions is to use our platform as a library of perspectives. Kevin O'Leary's opinions and involvement within crypto placed him at the center of one of the biggest financial scandals since Enron. In addition, his opinion on crypto has shifted numerous times, but it's always been delivered within the context of shouty talking head-style interviews.
    Given that neither the FTX nor crypto stories are finished, I felt it was worthwhile for Big Think to speak with Mr. O'Leary about his updated thoughts, given that they could be relevant in the future and, if he changes his opinion, there's a clearly articulated version of his previous argument.
    No Big Think video is ever an endorsement of a person's views; it is always chosen with an eye toward opinions worth considering or having recorded. We are obviously always open to your feedback if you think this was a miss.

    • @hervymarquezgarcia1079
      @hervymarquezgarcia1079 Před rokem +12

      It was a fun vid. He makes a good point on regulation that I hadn't considered. For now, crypto has the bad rep of being a get rich quick scam but it definitely has the potential to do a lot. I don't think we'll see that until a long time from now

    • @aperexspatio554
      @aperexspatio554 Před rokem +64

      I don't see the slightest credibility in his statements... He supported the scamer and was deceived by him... And I, a small man, who hopes for a fair system, he, and his new friends, will put me under the motto "protect investors" and forbid me from bidding... Hey, isn't it wonderful to support something like that... I rarely comment, but I will not support his words in "Big Think".

    • @ynotlearn4190
      @ynotlearn4190 Před rokem +46

      I don’t trust him nor do I believe him. He’s pro capitalist, and a hustler. He has way too much experience to had not known that crypto is a scam/casino.

    • @Nvgification
      @Nvgification Před rokem +61

      I respect Big Think's dedication to showcasing a spectrum of perspectives, but I think it's crucial to scrutinize the potential effects of these views. The promotion of FTX by Kevin O'Leary led many to invest, and following the scandal, these people are now in financial distress.
      O'Leary's changing position on crypto, especially his recent depiction of the entire crypto landscape as problematic or ''missing key features'', seems to shift the blame away from his actions. His enthusiastic endorsement of FTX played a key role in drawing a large crowd to the platform. However, instead of recognizing his involvement in the situation, he's casting blame on the wider crypto sphere.
      While preserving these perspectives for the future is important, holding individuals accountable for their influence is equally necessary. Offering O'Leary a stage to express his views without questioning his involvement in the FTX controversy, Big Think may unintentionally support his blame-shifting.

    • @greengoblin2460
      @greengoblin2460 Před rokem +39

      Despite this, what is the point of getting O Leary’s opinion on this topic?
      He has surface level knowledge and that is not valued by any of subscribers.
      Might as well get SBF on this too.

  • @patriciazandilencube4597
    @patriciazandilencube4597 Před rokem +435

    Alternative title 'Kevin O'Leary tries to do damage control and distance himself from crypto after pushing it onto people who have now lost their savings and lots of hard-earned money'.

    • @georgealexanderp
      @georgealexanderp Před rokem +15

      Needs to be the top comment

    • @mb7196
      @mb7196 Před rokem +3

      yes that's very true. But he's still correct.

    • @AnimeBeefRandoms
      @AnimeBeefRandoms Před 11 měsíci +3

      haha that's funny. You lost the money, not whoever you want to push blame on 🤣🤣

    • @cooltrades7469
      @cooltrades7469 Před 10 měsíci +3

      @@AnimeBeefRandoms She did not say that she lost and it's exactly what this guy does. He should not speak on the matter . He was promoting the scam . Get the point ? It's about HIM talking on FTX . Worthless.

    • @fsoileau
      @fsoileau Před 10 měsíci

      I agree but as I understand he was giving a crap load of shares to promote it. Anyone looking for an investment guru should just invest in an index fund. I don't care if you lost every dime because you invested out of speculative greed.

  • @davidblake8612
    @davidblake8612 Před rokem +128

    It's like having a bank robber on to explain that banks should have better security - and then the baddies won't rob them.

    • @deathshock5072
      @deathshock5072 Před 10 měsíci

      @@MikJames look at the ones who invested with ftx including kevin.

    • @paulcooper1046
      @paulcooper1046 Před 7 měsíci

      That's a legitimate narrative. The people that can teach you the most about bank robberies are successful bank robbers.

    • @yanmustand
      @yanmustand Před 2 měsíci

      If they explain how and why in details i would watch 🤷

    • @john-paulsylvester2382
      @john-paulsylvester2382 Před měsícem

      o'Leary isn't the man who robs the bank. He is the one who tells you that bank robbery needs more regulation.

    • @davidblake8612
      @davidblake8612 Před měsícem

      @@john-paulsylvester2382 After a very successful and lucrative career as a bank robber.

  • @kkybaggy
    @kkybaggy Před 9 měsíci +111

    I’m glad this Sam Bankman-Fried got his justice. This case made me sick. He ruined other people’s life savings. And now we have a major precedent for anti-fraud in crypto.

    • @Blitcliffe
      @Blitcliffe Před 9 měsíci +3

      I have the vague feeling, he looked at the 2007 housing crisis and said, hey, I can repeat this without anyone going to jail. And he forgot he was not a bank, not the government.

    • @Defisher
      @Defisher Před 9 měsíci +1

      Quite Shocking to me, A few investors I read about were able to make profits of upto $50,000 monthly, so am I doing something erroneous? please i need some hints on how to make enormous profit>

    • @stillrising1999
      @stillrising1999 Před 9 měsíci +1

      Agreed, instead of panic or following a hearsay, I simply adopted the service of an advisor early 2020 amid covid-outbreak, and so far, I've attained my most measurable financial milestone of $650k after subsequent investments.>

    • @ktube2020
      @ktube2020 Před 9 měsíci

      Impressive can you share more info?

    • @stillrising1999
      @stillrising1999 Před 9 měsíci +5

      I receive financial advice from "Nicole Desiree Simon", a well-qualified and well-established wealth counselor headquartered in California. Her basic information can probably be found online.

  • @rannyorton
    @rannyorton Před 10 měsíci +558

    I started investing about 2 years ago. But with the way things are going, I honestly do not see my self making a million box anytime soon. I trade on stocks but my profit and loss margin are grossly miles apart

    • @smithlenn
      @smithlenn Před 10 měsíci +2

      It's scary how true this message is. What steps can we take to generate more income during quantitative tightening? Also, on the contrary, how can we profit in times of quantitative easing? Where should we put our investment money now to better prepare for the future and a liquidity crisis?

    • @dawsondanny990
      @dawsondanny990 Před 10 měsíci +1

      I don't have a full-time job; instead, I'm self-employed with a variety of sources of income. Regardless of how much money I generate each month, I maintain the same budget and adhere to my means-tested lifestyle.

    • @tradekings5433
      @tradekings5433 Před 10 měsíci +4

      Having an investment advisor is the best way to go. Based on a direct encounter with a CFP named Kate Elizabeth Amdall, I can say with certainty that their skills are excellent. She helped raise over $580,000 in 18 months from an initially stagnant portfolio of $150,000

    • @smithlenn
      @smithlenn Před 10 měsíci +1

      INTERESTING! ! can u share more details?

    • @tradekings5433
      @tradekings5433 Před 10 měsíci +1

      Cant reveal much info, she is the shrewd advisor responsible for my portfolio success, it's only right you look her up and confirm yourself.

  • @Oneofakind123
    @Oneofakind123 Před rokem +55

    Don't trust anyone calling himself Mr Wonderful 😂

  • @el_argent0
    @el_argent0 Před rokem +446

    This guy personifies everything that is wrong with the monetary system

    • @cwpv2477
      @cwpv2477 Před rokem +7

      tru

    • @CrapKerouac
      @CrapKerouac Před rokem

      Commonsense Skeptic has a very good three part documentary on Kevin O'Leary here on CZcams. It's called Debunking Kevin O'Leary. The Man is a fraud.

    • @20cmusic
      @20cmusic Před rokem +4

      And you guys want "Decentralized" coin.😂😂😂

    • @bruceonline
      @bruceonline Před rokem +6

      Rich guy propaganda to run cover for why this guy isn't in prison.

    • @cwpv2477
      @cwpv2477 Před rokem

      @@20cmusic yes

  • @ofgaut
    @ofgaut Před rokem +22

    When they are on a gain roll, the regulation is bad. When shit happens they beg government for regulation

    • @galaxygrl1047
      @galaxygrl1047 Před 11 měsíci +2

      Amen! He is such a narcissist that he thinks babbling overshadows this basic fact.

  • @kenambo
    @kenambo Před rokem +11

    I used to like Big Think but this is a low point.

  • @JPaige-th2we
    @JPaige-th2we Před rokem +128

    He did not tell you that he lost Millions and then went and cried to congress and tried to put the blame for FTX failing on someone else.
    He is not Mr. Wonderful. He is Mr. Greed.

    • @aimoneybots1169
      @aimoneybots1169 Před rokem

      Kevin got paid 15 million and did not use his own money. He's a liar. Had he lost his own money, he would have wanted off with FTX head.

    • @darksoul1381
      @darksoul1381 Před rokem +1

      Mr. Not-So-Wonderful

    • @nurlindafsihotang49
      @nurlindafsihotang49 Před rokem +1

      So, like all finance investor a.ka mr. Moneybag?

    • @Invertedworldx
      @Invertedworldx Před 11 měsíci +3

      And Mr Bullshit lol

    • @davediscostrezzo2107
      @davediscostrezzo2107 Před 7 měsíci

      He didn’t lose anything lol he only invested what FTX paid him to be a sponsor so it wasn’t really his money 😂

  • @BossRedRanger
    @BossRedRanger Před rokem +17

    This screams of 1%er bullshit. He tanked crypto but sees the opportunity still so now he wants to regulate it to his own benefit.

  • @mayajade1750
    @mayajade1750 Před rokem +177

    Startup yes, but he stood by them and pushed it on many people

    • @technolus5742
      @technolus5742 Před rokem +3

      Oh so are most startups just giving out personal loans with clients money that is entrusted to them? 😂

    • @bradonlee9832
      @bradonlee9832 Před rokem

      @@technolus5742 Oh so you need to read the comment to better understand. 😂

    • @technolus5742
      @technolus5742 Před rokem

      @@bradonlee9832 My comment was not super related to the op's comment, nor does it intend to disagree with that comment.

    • @jvercellino
      @jvercellino Před 10 měsíci

      Could it be because SBF paid for his "Wonderful" endorsements?

  • @LeeScherlpc
    @LeeScherlpc Před rokem +41

    Yuck. Advice from the guy who recently said he'd willingly invest with SBF again, after shilling that Ponzi scheme to whoever would listen. A guy who will lend his name to any company that pays him a thousand bucks online (see Cameo/coffeezilla). Probably would be smart to keep a clearer distinction between Big Think and unscrupulous guest speakers.

    • @randomcomputer7248
      @randomcomputer7248 Před 9 měsíci

      Yeh ! His "big think" was obvious from the start, Crypto technology can be useful, but no government would let currency be out of their control.

  • @MO-tp8lh
    @MO-tp8lh Před rokem +63

    How much is this ’victim’ getting paid for this performance?

    • @JaysonT1
      @JaysonT1 Před rokem +2

      Let me guess, you invested in crypto and you're going to be a multibillionaire?

    • @patrickfitzgerald2861
      @patrickfitzgerald2861 Před rokem +12

      He should be in jail.

    • @IronTom
      @IronTom Před rokem

      of course he will make the case for "crypto" is not safe.
      Making the case for CBDC, which will be government backed and won't have these "safety" issues.
      Most people will give up the freedom for safety and convenience. - as they don't know any better. Nothing to do with getting rich.

    • @BossRedRanger
      @BossRedRanger Před rokem +3

      A lot more once he can use his money to control the regulations that will benefit him.

    • @ginalolli3477
      @ginalolli3477 Před rokem +1

      10 BTC?

  • @mofo888
    @mofo888 Před rokem +71

    This guy makes bad bet after bad bet yet is still lauded as some financial genius.... He's probably just a mouthpiece.

    • @kevinroy1736
      @kevinroy1736 Před rokem

      he was a paid mouth piece, a portion in cash and a portion in shares was his payment, he didn't invest anything.

    • @manpreetlakhanpal9720
      @manpreetlakhanpal9720 Před rokem +1

      people who make the bad bets are usually the ones that know what not to do.

    • @kevinroy1736
      @kevinroy1736 Před rokem

      @@manpreetlakhanpal9720 yep. He got paid $5million I think, what he is upset about is he lost the other $5 to $10 million locked up in shares.
      ya I feel horrible for him, a very small amount of his time, for a big pay day.

  • @rsolano60
    @rsolano60 Před rokem +26

    He looks like a clown now trying to tell us he understands this stuff... Bitcoin is absolutley not JUST a speculative asset.

    • @rsolano60
      @rsolano60 Před rokem +3

      Bitcoin is HARD MONEY

    • @douglas5097
      @douglas5097 Před rokem +5

      Of course it is man. The value is not defined or stable yet. The day it becomes a mainstream currency, then you can say it is not speculative anymore. Until then, people believe that BTC is the future and we’re betting on it.

    • @robm6803
      @robm6803 Před rokem

      😂😂

    • @seantrentham9979
      @seantrentham9979 Před rokem +1

      @@rsolano60 you can't touch it, it's not hard money.

    • @sighko05
      @sighko05 Před rokem

      @@seantrentham9979You are a 🤡

  • @Eusantdac
    @Eusantdac Před rokem +50

    Ohh Kevin ... just keep quiet after this huge blunder.

  • @IronTom
    @IronTom Před rokem +125

    anyone who has done research on crypto knows that if its not your keys it's not your crypto... hard to believe someone like Kevin didn't know this. Questionable integrity..

    • @JaysonT1
      @JaysonT1 Před rokem +1

      Sounds like wishful crypto investor thinking

    • @cwpv2477
      @cwpv2477 Před rokem +2

      he did he just fudding

    • @IronTom
      @IronTom Před rokem +2

      @@JaysonT1 you mean Kevin was wishful that crypto exchange is safe? Very poor risk assessment given that banks do same over and over. Like literally 101. Banks/Exchanges issue more than they have and then don't have enough liquidity when people wish to withdraw.. Doubt any exchanges hold 1:1.

    • @mb7196
      @mb7196 Před rokem

      anyone who does real research on crypto knows it's a fucking ponzi scheme joke.

    • @aimoneybots1169
      @aimoneybots1169 Před rokem

      Kevin got paid 15 million and did not use his own money. He's a liar. Had he lost his own money, he would have wanted off with FTX head.

  • @beerman204
    @beerman204 Před rokem +166

    This man has not earned the right to be on a program of high integrity.

    • @heman248
      @heman248 Před rokem +3

      Big think just lost all credibility. Michio Kaku and other ideas that have been exposed here are universes apart from this guys ulterior motives.

    • @happykillmore349
      @happykillmore349 Před rokem

      Thank goodness that's not what this channel is

    • @jakobthelibrarycard6261
      @jakobthelibrarycard6261 Před rokem

      Mr Wonderful? WTF?

    • @jakobthelibrarycard6261
      @jakobthelibrarycard6261 Před rokem

      @@happykillmore349 Sally Jessy Raphael. Now that was some high integrity tv.

  • @marcelo55869
    @marcelo55869 Před rokem +7

    why is he on big think?
    Isn't this channel for promoting good ideas?

  • @lynnb2262
    @lynnb2262 Před 10 měsíci +5

    This from the Man who called Crypto "Garbage" in 2019 and then Accepted $15M from SBF to pedal FTX tokens...Kevin's Integrity has a price.

  • @claudettes9697
    @claudettes9697 Před rokem +78

    Totally disappointed seeing him here.

  • @djankovski
    @djankovski Před rokem +306

    Why is Big Think risking their reputation by giving this guy a platform? He's a grifter who understands everything at a surface level.

    • @lucasss02
      @lucasss02 Před rokem

      This. He is a hack and a fraud. Don’t give this guy airtime please…

    • @jagelves
      @jagelves Před rokem +4

      Might as well interview Gensler

    • @DealerIgnition
      @DealerIgnition Před rokem +25

      100% Big Think dropped one basis point thanks to Kevin.
      Maybe next have Andrew Tate speak about masculinity 🤮

    • @StevelaFrench
      @StevelaFrench Před rokem +3

      I came here to express the same opinion.

    • @djankovski
      @djankovski Před rokem +3

      @@DealerIgnitionTrue. If this is the level of scrunity they perform while choosing their guests, I am disappointed.

  • @laszlolee
    @laszlolee Před rokem +208

    It's alright, the average investor struggles with when to sell or hold, as for making consistent profit even during a market crash, your best bet is having a professional guide you.

    • @AdamGreene222
      @AdamGreene222 Před rokem +3

      Haha, great to know I'm not the only one that go through series of emotions when dwelling with my investments.

    • @user-wt6zf4ek9k
      @user-wt6zf4ek9k Před rokem +2

      It's gotten especially difficult since after the pandemic, hence why I decided to use the expertise of an advisor, my spouse kicked against the idea initially, but oh well guess who's best buddies with our advisor now hehehe

    • @EmilyMoore-n7n
      @EmilyMoore-n7n Před rokem +2

      which advisor do you use and are you making more than average returns?

    • @user-wt6zf4ek9k
      @user-wt6zf4ek9k Před rokem +2

      @@EmilyMoore-n7n I'm been guided by "Susan Bauer Normansell," who is widely recognized for her competence and expertise in the financial market. She has a thorough understanding of portfolio diversification and is regarded as an authority in this field.

    • @EmilyMoore-n7n
      @EmilyMoore-n7n Před rokem +1

      Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.

  • @gemlifemoments
    @gemlifemoments Před rokem +28

    Write down the names of everyone like Kevin who promoted FTX and other scams. Then be sure to never listen to what they have to say. Invest in real assets and companies that produce products we buy and use regularly.

    • @knightnxk2906
      @knightnxk2906 Před 11 měsíci

      too slow

    • @Neo-Raider
      @Neo-Raider Před 11 měsíci

      @@knightnxk2906 Larry David tried to warn you ...But no one listened

    • @WEBUYUGLYAUTOS
      @WEBUYUGLYAUTOS Před 10 měsíci +1

      EXACTLY 100 % Have people forgot just how bad Kevin did to millions of people ? The FTX scam crypto exchange paid him 10 million + to be a spoke person and the entire thing was a scam. My CPA said it would only take him 30 minutes to identify the scam. So Kevin which one is it you do not know your math or did know your math and were corrupted bu 10 million dollars. In my opinion Kevin HAS NO credibility fox news needs to NOT have him on. Also to make my point about him he was doing those get rich quick real estate courses in USA charging 20 k Kevin in my opinion is a conman that only cared about himself

    • @writenamehere0000
      @writenamehere0000 Před 9 měsíci

      But in that case you need to invest a lot. And people dont have a lot.

    • @gemlifemoments
      @gemlifemoments Před 9 měsíci

      @@writenamehere0000 No. You just need to buy a few stocks in companies that produce products we love. For example, Coca Cola is $53. PG which creates tide and most other detergents is $143. Anyone can buy a few of these shares.

  • @mtnvalley9298
    @mtnvalley9298 Před rokem +21

    This guy is addicted to giving bad advice.

    • @AdrianMark
      @AdrianMark Před rokem +3

      Indeed. But I think he's not giving bad advice, he's giving advice that will only benefit him 😂

    • @PedroMiguel-if3ll
      @PedroMiguel-if3ll Před 11 měsíci

      AKA Bad Advice!

  • @saitop3848
    @saitop3848 Před rokem +13

    You should be ashamed of having Kevin Leary talk about crypo.

  • @somethingsomething8780
    @somethingsomething8780 Před rokem +8

    How do you have an amazing video about Psychopaths with Brian Klass a week ago then turn around and platform a Psychopath? Big Think should probably watch their own videos.

  • @markm7524
    @markm7524 Před rokem +48

    Whatever O’Leary says about crypto, just do the opposite and you should be fine.

    • @mb7196
      @mb7196 Před rokem

      well that's some colossally stupid advice.

  • @SankofaNYC
    @SankofaNYC Před rokem +50

    Oh wow… regulation is a good thing now… ok wasn’t expecting that one from Kevin… he will probably say otherwise the moment regulation helps tons of people but limits his business in other ways

    • @bliptripmusic
      @bliptripmusic Před rokem +2

      Literally everyone who has been paying any attention for the last three years is aware that some regulation is desperately needed for crypto, just probably not the regulations Kevin wants to 'protect' investors.

  • @ryry9780
    @ryry9780 Před 11 měsíci +2

    O'Leary's statement can be all summed up to: "Everyone who bought into crypto knew it's speculative and the risks of gambling. Crypto still has huge potential and the demise of FTX (and other exchanges before it) does not change that, the same way that the fall of Lehman Brothers and Bear Stearns did not change anything in the long term. The space just lacks regulation and, in the end, no matter how much people say they hate the government, they will always turn to the government in times of crises."
    No shit, sherlock. That doesn't explain why he kept defending SBF as the collapse was happening.

  • @Najur.
    @Najur. Před rokem +72

    He is a laughing stock for me, I don't know about you guys!

    • @chadester001
      @chadester001 Před rokem +2

      Why so ? Isn't crpyto highly volatile in nature ?

    • @Healitall
      @Healitall Před rokem +3

      There were a lot of people who didn't knew excatl what they were getting into because of all the lies (not only start up promises) and he didn't knew either, that's what I think.

    • @chiquita683
      @chiquita683 Před rokem +5

      100%, I don't get why he's not in jail too

    • @chiquita683
      @chiquita683 Před rokem +5

      ​@@HealitallWasnt he a paid sponsor?

    • @Najur.
      @Najur. Před rokem +6

      @@chadester001 While I appreciate you reply, and consider you giving Kevin the benifit of doubt, I highly recommend you to watch his interview with Hasan Minhaj.
      In that interview he come of as a extremely sketchy character.
      Once again Thank you.

  • @thugzbunny6148
    @thugzbunny6148 Před rokem +37

    He didn't "invest" tho....he got paid like $15milliom to endorse FTX without looking into it. He's a scam artist. Believe nothing he says.

  • @DealerIgnition
    @DealerIgnition Před rokem +42

    It’s hard to trust a word of Mr. Wonderful since he tries so hard to spin things.

  • @richarde735
    @richarde735 Před rokem +13

    we have a whole lot of greed in government too! the dis-trust of government is because our politicians are there for themselves and not the people they represent.

  • @ansred
    @ansred Před rokem +2

    Crypto was invented to be decentralized and not regulated. The trust can be relayed by blockchain.

  • @bk1507
    @bk1507 Před rokem +2

    why didnt you think of all this when you invested, Kevin?

  • @irenaeusofpensacola
    @irenaeusofpensacola Před 10 měsíci +2

    I have a similar investment philosophy to what Kevin O' Leary used to have. When I saw him doing things like releasing an internet giants etf (that doesn't pay a dividend and was mostly in non-dividend paying stocks), I was thinking, "Kevin, what are you doing?" Then, Kevin got on the crypto chain (after correctly calling Bitcoin garbage). At that point I was thinking, "Kevin, what the HELL are you doing?!" I hope he has truly learned his lesson.

    • @Mrdestiny17
      @Mrdestiny17 Před 10 měsíci +1

      He won't learn a thing until he's sitting in a jail cell with Big Bubba

  • @Drudog62
    @Drudog62 Před rokem +2

    Perspective is everything I think making it a longer video and introducing another perspective would have soothe people over

  • @michael2275
    @michael2275 Před rokem +9

    His big problem is not understanding 'crypto' vs. bitcoin.

    • @JaysonT1
      @JaysonT1 Před rokem

      Bitcoin is crypto! I swear, this shit is like a fucking religion to you people.

    • @mb7196
      @mb7196 Před rokem +2

      Yes...ponzi scheme A vs ponzi scheme B. It's important to know the differences.

    • @michael2275
      @michael2275 Před rokem

      @@mb7196 Everyone will get bitcoin at the price they deserve. Recommend you do the work sooner rather than later.

    • @mb7196
      @mb7196 Před rokem

      @@michael2275 lol...this doesn't even make sense. Stop being stupid. Recommend you study formal logical fallacies before you type.

  • @chrisfreund509
    @chrisfreund509 Před rokem +2

    Its interesting to learn at around 3:50 that those sectors don't rely on utilities, energy, communication, technology or any materials.

  • @Mr.V888
    @Mr.V888 Před rokem +3

    "Crypto" is Greek for "hidden", "concealed", "latent", or "closeted", that's how the Greek word "crypto" can be rendered in English, depending on the context.
    Governments cannot regulate what is hidden from them, if they are able to regulate it they will also be able to control it and manipulate it.
    Eventually it will lead to complete loss of financial privacy.

  • @nilszimmermann7102
    @nilszimmermann7102 Před rokem +55

    Back in the day: "Crypto protects you from the state"
    Now: "Crypto does not work properly without the state"
    (Quotes not direct)

    • @winstonhood6371
      @winstonhood6371 Před rokem +3

      I think both claims are still being but different people. There is no great difference between, both are trying to promote something that's mostly going to favour themselves. Blockchain technology will be extremely helpful, but not necessarily as cryptocurrency.

    • @VoteForBukele
      @VoteForBukele Před rokem

      Everything about crypto is based on human emotion. It’s a decent concept when used within a framework. But the idea of Bitcoin is in and of itself stupid af.

    • @20cmusic
      @20cmusic Před rokem

      That's what crypto speculators say. 😂

    • @CryptoC4T
      @CryptoC4T Před rokem

      "properly" means the state should be there to bail Kevin out if he takes another loss. Because he is Mr Wonderfool.

    • @sheeds8340
      @sheeds8340 Před rokem

      great point

  • @loquek
    @loquek Před rokem +20

    Well... I used to trust Big Think to bring people on who were exemplars in their field... this guy has a tragic track record, and I wouldn't recommend anyone listened to a minute of what he has to say

  • @bobbowie5334
    @bobbowie5334 Před rokem +2

    Crypto is the currency of the 'dark web.' On the dark web they laugh at 'regulation.'

  • @burnoutminion
    @burnoutminion Před 11 měsíci +2

    The very last person to ever trust is Kevin O'Leary.

  • @macxgeek
    @macxgeek Před rokem +2

    The Sarbanes-Oxley Act was literally enacted because of Enron, so no, these past catastrophes didn't change anything. They changed everything, SOX is a big deal and requires a lot of time, effort and resources to meet this regulation

  • @Afrotechmods
    @Afrotechmods Před 10 měsíci

    2 years ago he was describing Bitcoin as being like owning real estate. Now he describes it as a speculative asset. Hmm...

  • @LogicalPrime
    @LogicalPrime Před rokem +2

    This was the longest way of saying crypto needs to be regulated that I've ever heard

  • @jim9198
    @jim9198 Před rokem +302

    I am saddened to see O'Leary on your channel. Associating with him lessens your integrity. :(

    • @patrickfitzgerald2861
      @patrickfitzgerald2861 Před rokem +16

      Agreed.

    • @BitcoinWillFixEverything
      @BitcoinWillFixEverything Před rokem +1

      Ah, yes Kevin. Worried about the little guy, are you? All cryptoassets other than Bitcoin are just scams and will eventually go down to zero. I'm sure he's well aware of this fact, but he's going to make a killing on investors until that happens.

    • @user-qi3hf8ko3q
      @user-qi3hf8ko3q Před rokem +8

      how? don’t know a lot about him

    • @listey
      @listey Před rokem

      Agree. Absolute scumbag.

    • @adekunleademoroti8190
      @adekunleademoroti8190 Před rokem +7

      Agreed

  • @dieselbunny69
    @dieselbunny69 Před rokem +5

    Grifter clown 🤡 Watch his interview with Hassan Minhaj and Hassan actually went easy on him

  • @CryptoC4T
    @CryptoC4T Před rokem +3

    5:09 I was pretty sure the one word suppose to be "bombs", because IMF is not one word. BTW Kevin saying the word "trust" should be a meme.

  • @jonathanhill1547
    @jonathanhill1547 Před rokem +1

    The last person that should be talking about crypto on big think

  • @757millionaire
    @757millionaire Před 11 měsíci +1

    @5:31 Keep your gold bars in a cave with a dog and a rifle lol

  • @esselsid3727
    @esselsid3727 Před rokem +18

    Wasn't this guy a hardcore crypto dove?

    • @hwway4488
      @hwway4488 Před rokem +1

      You just taught me a term, thanks:). Got this off Forexpedia: “A dove is someone who favors a looser monetary policy, which means lower interest rates, with the aim of boosting economic growth.” supposedly at the cost/risk of raising inflation.

  • @bensan94931
    @bensan94931 Před rokem +1

    3:50 - "If you think about the 11 sectors of the Standard & Poor, the financial services sector is the only sector that services every other sector. You can't have an economy without financial services."
    Huh? You could say the same about many of the S&P's other sectors - technology, utilities, materials, energy, etc. A strange point that undermines his overall credibility.

  • @swedesam
    @swedesam Před rokem +1

    Exploiting greedy human behavior is a story as old as time.

  • @jmcb3411
    @jmcb3411 Před 11 měsíci +1

    K.O. was an insider and one of the masterminds of the whole scandal and now he pretends he is a victim. Is there anything more ridiculous than that?

  • @auntiedrummer
    @auntiedrummer Před 10 měsíci +1

    Which bank did he use that took him 4 days to wire USD in a US bank to a Swiss bank??😂😂😂

  • @VladimiruYmiru
    @VladimiruYmiru Před rokem +2

    Next time just ask him how it feels to lie to milions of people for money, would be much more interesting than his views on something he treated as scam until got paid by it, then lying he lost it all:)

  • @yephick
    @yephick Před rokem +6

    Is this a joke of some sorts? "Regulations" may be a problem with crypto, but it is not the #1. Not by a long shot. The main problem with crypto is that it is ENGINEERED to waste energy (in a form of outrageously expensive computing)

  • @thanhdatvo0
    @thanhdatvo0 Před rokem +2

    Wow, this is one of rare videos from Big Think that received more dislikes than likes

  • @willemvanriet7160
    @willemvanriet7160 Před rokem

    Putting $ in crypto is like leaving cash in the side walk. It will die out if regulated as it's whole premise is to be unregulated.

  • @1995pearson
    @1995pearson Před rokem +1

    Personally, I don’t believe crypto needs to be regulated any more than it currently is. Rule number 1: Not your keys not your crypto
    People can invest in what they want. Bitcoin is the only crypto that matters. Will it make you money or loose you money, I don’t know. But if you buy 1 Bitcoin today, in 50 years time you still have 1 Bitcoin. What it’s worth in USD and what that Bitcoin can buy, that it the question.

    • @mb7196
      @mb7196 Před rokem

      Bitcoin is a ponzi scheme. Plain and simple. It's a joke.

  • @XOPOIIIO
    @XOPOIIIO Před rokem +1

    If you don't know what you are investing in, no regulation would safe you.

  • @TheRumblewagon
    @TheRumblewagon Před 11 měsíci

    It's a paradox. The main point of crypto is "self-regulation"...or regulated by "market forces". But if Kevin is insisting that what is missing is regulation, there's the paradox.

  • @nickdesanto6119
    @nickdesanto6119 Před rokem

    One thing i don't get O'Leary is as he said " the diconomy of loving and hating the government". Student loan programs he goes ape, employees credits he practicly shouts over the mountains to use. You want low government spending? Then don't have them bail out student debt, small business, big business, banks, or cypto. Let the market be the market as kevin also says.

  • @TheInternetIsDeadToMe
    @TheInternetIsDeadToMe Před rokem +25

    You might mock someone with their beef jerky, gold bars and rifle, but when this system built on the sand of infinite growth eventually caves in on itself, you’d better have one of those expensive watches ready as an investment.

    • @AlexisBii
      @AlexisBii Před rokem +1

      😂😂😂😂😂

    • @IronTom
      @IronTom Před rokem +2

      it will just switch from one inflationary fiat to the next.. the system will keep moving and people will keep getting robbed.

    • @kenambo
      @kenambo Před rokem

      Bitcoin is a deflationary system.

    • @mb7196
      @mb7196 Před rokem

      @@kenambo Bitcoin is a ponzi scheme.

    • @jugzster
      @jugzster Před rokem

      @@kenamboyeah, it deflates your wallet pretty fast 😂

  • @elfbark624
    @elfbark624 Před rokem +1

    Came here for the comments, it didn't disappoint 🙂

  • @chriswheeler6092
    @chriswheeler6092 Před 9 měsíci +2

    My god,the things that this man said to get people to invest!You sir talked about Sam Friedman like he was an absolute genius every chance that you got. You played your part.

  • @swfsql
    @swfsql Před 10 měsíci

    It's not really valid to compare the risks of profit and losses inherent to the free market, to plain fraud.
    It's like saying "I went to the grocery store to buy some apples but it turns out the owner pointed his gun at me and robbed me. This is part of how it works when you go to a grocery store."

  • @alextz2443
    @alextz2443 Před 11 měsíci

    Can you teach me how to get caught attempting to counterfeit crypto like SBF? I’m asking Mr GG.

  • @WeiweiCheng
    @WeiweiCheng Před rokem +2

    What is Big Think thinking?

  • @mcgdoc9546
    @mcgdoc9546 Před rokem +3

    How much did you get out of the FTX debacle?!?

  • @Ballacha
    @Ballacha Před rokem +4

    for those naives kids still subscribed to the idea that "the whole point of crypto currency is to have an un regulated and decentralised monetsry system", you need to wake up. do you exclusively earn cryto at work then exclusively spend crypto on every thing you ever purchase? no? you still need an interface and exchange between crypto and real currency otherwise you'll starve to death even with thousands of btc in your coinbase wallet? then there's no way we shouldn't regulate that exchange, not because crypto currency is involved, but because real currency is involved.

  • @jusoneofdemgods
    @jusoneofdemgods Před 10 měsíci

    The investors are equally responsible and should be held accountable.

  • @Helix_22
    @Helix_22 Před 11 měsíci

    The common rule for us common folk, the elites and politicians always mean the opposite of what they say.

  • @Danny_6Handford
    @Danny_6Handford Před rokem +1

    Unfortunately most people get fooled by the the financial experts, advisers and gurus. If you are smart you will learn from your mistake in trusting them and will stop listening to them.
    The stock markets, commodities market and financial markets are basically casino’s where people try to outsmart each other but in the end the house always wins and there are always new products and new games to play. If this is how you plan to make your living, all I can say to you is good luck!
    As with any game there is always a lot of bluffing, deception, smoke and mirrors to try and confuse and take advantage of the suckers. The financial experts, advisers and gurus think they have a winning strategy and sometimes they win but just like the players in the casino, most of the time they loose and if they suckerd others to following them with their advice they also loose. The suckers can whine and complain all they want but they will never get their money back.
    Many of the players try cheating because if they can get away with it they will be considered clever and will usually brag about it. Even if they get caught, most of the time the penalties and the fines are not that bad and they will be free to try again.

  • @EricHart-il2sz
    @EricHart-il2sz Před 11 měsíci +1

    Pretty sure the energy, utilities, and technology sectors service every other sector.

  • @raphaelrodriguez4904
    @raphaelrodriguez4904 Před rokem +1

    Oh wow looks like we got the wrong expert..

  • @Tone2K
    @Tone2K Před 9 měsíci

    Him being an investor is fine. Him going from a cheerleader of this "investment" to further its growth and his own personal stake to now deflect and say he was simply an "investor" is what I find issue with.

  • @Goodhello369
    @Goodhello369 Před 11 měsíci

    The whole attraction to crypto was it wasn’t unregulated. People felt they would try to skirt taxes which was foolish anyway. Im sorry all i see is vaporware. And im deeply invested in crypto (also stocks) and did a ton of homework.

  • @g6ter1
    @g6ter1 Před rokem +1

    about the last guy i would take crypto advice from LMAO

  • @seanwebb605
    @seanwebb605 Před 10 měsíci

    Have you seen his video on boat safety?

  • @Domo6768
    @Domo6768 Před 9 měsíci

    Kevin you need to explain how swift works. Your money doesn't travel a message saying you have paid what ever amount is what travels and then they (bank) needs to verify that it is legit and then the money is moved into an account that you chose to "send" your money to

  • @MoFiTheMagnificent
    @MoFiTheMagnificent Před rokem

    I think crypto should have regulation but not by the government.

  • @seanliu3285
    @seanliu3285 Před 11 měsíci +1

    he never put his own money into FTX, he was a paid spokesman. Here's the big problem with O'leary

  • @ADNZ5442
    @ADNZ5442 Před rokem +1

    He needs to talk to Sailor about BTC.

  • @tylerlamb1142
    @tylerlamb1142 Před rokem +43

    Ah, yes of course Kevin, lets regulate crypto so withering oligarchic doodooheads can just control the poor people more!

    • @gpolenik
      @gpolenik Před rokem +1

      they already are lol. Every single crypto scam happens because it has zero regulations.

    • @JaysonT1
      @JaysonT1 Před rokem +11

      Well, you see what happens without any regulation, genius

    • @guyincognito5663
      @guyincognito5663 Před rokem +1

      Atlas pooped his pants. Less regulation, more W for the oligarchs you dummy!

    • @nurlindafsihotang49
      @nurlindafsihotang49 Před rokem +1

      Ah yes. Go wild wild west. With none the sherrif. See what happens!?
      Exactly.

  • @nelty0987654321
    @nelty0987654321 Před rokem

    nah no way you got him on...

  • @kevinw.weiser9820
    @kevinw.weiser9820 Před rokem +1

    Now that "Mr. Wonderful" (what an ego) can no longer shill for FTX, he's shilling a digitalized dollar for the government. What next?

  • @speeddrift5011
    @speeddrift5011 Před rokem +12

    I don’t know much about Kevin other than what I see on Shark Tank, but I can appreciate the thoughts and knowledge he is sharing. If you limit whom you can learn from …..well, that’s the problem with the world today. People want their information from their selected sources and that leads to narrow-mindedness.

  • @Ihaveanamenowtaken
    @Ihaveanamenowtaken Před 9 měsíci

    I can see that you interviewed Kevin O'Leary, the actor.

  • @MrTHEcoolECOdude
    @MrTHEcoolECOdude Před rokem +1

    We already have a regulated crypto... the digitized dollar.

  • @O-OX
    @O-OX Před 8 měsíci

    Incredible! This guy heavily promoted FTX and was a close friend of SBF. He promoted and encouraged small and larger investors to trust and use FTX, and therefore made them lose all their life savings. He is definitely not trustworthy. He just wants to wash his reputation and paid BT to be able to do it.

  • @tonyw3436
    @tonyw3436 Před rokem

    Why does he keep saying he’s a investor? I thought he’s just a paid endorser and has nothing to do with investing in the equity of the company

  • @balcoinx1622
    @balcoinx1622 Před 10 měsíci

    Then we should keep our money here instead of giving it to other countries who give no trade except hate towards us in retrun.

  • @ajthevillageidiot
    @ajthevillageidiot Před rokem +16

    Go make some more cameos

  • @adryct
    @adryct Před rokem +1

    FTX wasn't crypto.

  • @w00dyalien
    @w00dyalien Před rokem +2

    Seriously, big THINK?!