Bride of Frankenstein's Balance Sheet feat. Rob Smith
Contrary to popular belief, we were not the people who broke the story about Lex Greensill and supply chain finance -- we just fell in love with it because it was the perfect intersection of all our interests (tech bullshit, obvious fraud, Australians, guys). However, someone who has been on this story since its inception is Financial Times journalist Rob Smith (@BondHack), and he's on the show today to review what's happened in this big ol' mess-er-idoo.
*SHIRTS ARE STILL AVAILABLE FOR PRE-ORDER*https://www.trashfuture.co.uk/shop
Comments (26)
Absolutely amazing episode which stands up to relistening! One additional thing for the similarities with the GFC is the presence of insurance in this situation. In the GFC you had AIG Financial Products backstopping almost the entire credit default swap market which was why they (AIG) were bailed out. Amazing how mixing insurance with securities businesses almost always ends in disaster. There must be a Marxian analysis of that somewhere... Great work.
Is there a reference to the reading we should be doing for "What is a Swedish guy was Italian"?
Look, if all you need is an Australian man, it's easy. Just go down the pub, turn on the cricket match, and then abscond with one of the 5 guys that's just been immobilized like the attaché at the beginning of Infinite Jest. Simple Oz
Hey hogs, I need some help putting this arc of episodes in order. First it was "Frankenstein's Balance Sheet" then "This CEO Does Not Exist" then "Bride of Frankenstein's Balance Sheet"? I feel like I'm missing one. "A Heartfelt Goodbye to the Three Dollar Store" and "Illiquid Love" help with context or other players, but I still feel like I'm missing one to get the full arc so far. Any help is appreciated.
Terminal Velocity might be the one you're looking for!
wonderful wonderful episode
Shout out to Nate for that edit of "actionable/libelous/wildly embarrassing for someone who writes for the FT/boring?" content at 17:40 you are the unseen hero of the podcast.
i wish it was that cool, that was just me dropping Rob's mic levels in too much of a hurry
Kind of amazed the Financial Times let one of their journos go on this podcast tbh. I can imagine their Comms team scratching their heads trying to decide whether anyone employed by their prestigious institution should be roped into the eternal “what if a Swedish man was Italian?” debate.
Will there be a “What if Enron was Spanish” shirt?
Would buy.
If you ever wondered who was falling for those "easy money with just one weird trick!" ads it turns out the answer was the head of Softbank, a former UK prime minister and the prince of Saudi Arabia
Fun WWE/Saudi fact, is that the Saudi's wanted Yokozuna and The Ultimate Warrior to make an appearance. The problem is that they are both dead.
These mfs bout to fight Jamal Khashogi
Collateralized Dad Obligations ALICE C'MON
That was worth the wait 🙂
The inclusion of Pipe puts me at two-for-two in startups I DM to Riley making it on the show. Also, they're moving to Miami, as all dumb tech companies now are
If you’d stuck with GYDS.com, they might be saying it on ITV right now
Thought - What if your entire business Empire was just a guy?
When corporations can legally be people its only fair for some random guy to legally be a corporation
To be fair, a comical Bond villain ass name like Lex Greensil does seem too good to be true. Can Totally understand that 😆 Greensil is the official comic book arch nemesis of TF to me, though. The whole situation has turned into a Coen Brothers comedy ala Burn After Reading, and I'm enjoying that vibe. It does feel kind of surreal how this thing that felt like a TF bit for so long has suddenly bled into the real world in a way I didn't expect. Props if it means we have more hogs & I can actually do TF bits to my mates without explaining the lore 🤣
Enron (Spanish)
ELRON, THE RON
Every time the insurance guy came up my brain added in the flute Bit from 'down under' for some reason.
Loved Riley's very Trillbillies Hainty bye. And an amazing continuation of coverage from the people who broke the story on Greensill! It makes me wish Patreon had playlists for stories like this.
Mashallah