This was one of my favorite episodes ever. Bethany McLean broke the Enron story & has written some of the best finance books out there. We discuss:
* The astounding similarities between Enron & FTX,
* How visionaries are just frauds who succeed,
* What caused 2008, and whether we are headed for a new crisis,
* Why there’s too many venture capitalists and not enough short sellers,
* And why history keeps repeating itself.

𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊𝐒
* Transcript: https://www.dwarkeshpatel.com/p/bethany-mclean
* Spotify: https://spoti.fi/3FLCuRk
* Apple Podcasts: https://apple.co/3v7djDN

McLean is a contributing editor at Vanity Fair (see her articles here) and the author of The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron, All the Devils Are Here: The Hidden History of the Financial Crisis, Saudi America: The Truth About Fracking and How It's Changing the World, Shaky Ground: The Strange Saga of the U.S. Mortgage Giants.

𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒
00:00:00 - Intro
00:04:37 - Is Fraud Over?
00:11:22 - Shortage of Shortsellers
00:19:03 - Elon Musk - Fraud or Visionary?
00:23:00 - Intelligence, Fake Deals, & Culture
00:33:40 - Rewarding Leaders for Long Term Thinking
00:37:00 - FTX Mafia?
00:40:17 - Is Finance Too Big?
00:44:09 - 2008 Collapse, Fannie & Freddie
00:49:25 - The Big Picture
01:00:12 - Frackers Vindicated?
01:03:40 - Rating Agencies
01:07:05 - Lawyers Getting Rich Off Fraud
01:15:09 - Are Some People Fundamentally Deceptive?
01:19:25 - Advice for Big Picture Thinkers