Silicon Valley presents itself as a haven for tech start-ups wanting to change the world for the better. But, beneath the facade, it has a serious fraud problem. Why do tricksters thrive among the geniuses? Sam Bankman-Fried, founder of the FTX crypto exchange is the latest high-profile example – but he’s far from being the first tech start-up founder to wind up in jail. Erin Griffith is a reporter for the New York Times specialising in tech and finance – and joins Chris Jones in The Bunker to discuss this dark phenomenon.
• “When there’s a lot of free money going around, that’s going to attract a lot of people to exploit that.” – Erin Griffith
• “The venture capital investors who are backing these companies are sophisticated… but there’s also an element of FOMO because there are only so many startups that might be the next Facebook.” – Erin Griffith
• “I’m not sure anything is changing apart from some of these charges for fraud that are now being prosecuted in criminal court.” – Erin Griffith
We are sponsored by Indeed. Go to Indeed.com/bunker for £100 sponsored credit
Support us on Patreon.
Written, presented and produced by Chris Jones. Audio production: Jade Bailey. Managing Editor: Jacob Jarvis. Group Editor: Andrew Harrison. Music by Kenny Dickinson. THE BUNKER is a Podmasters Production.
Learn more about your ad choices. Visit podcastchoices.com/adchoices
Extra: A taster of American Friction
“I watched Fox News for a week… here’s what I found out.”
Why Donald Trump is truly a cult leader
Having a laugh? Why satire won't die – with impressionist Jan Ravens
How borders shaped world history – with Jonn Elledge
A local election, for local people – Start Your Week with Ros Taylor and Jacob Jarvis
How did the Tories become the chaos party?
Here's how America's next civil war could happen
Red, white and boo – Can Labour reclaim the flag?
Menzies Behaving Badly – Start Your Week with Ros Taylor and Alex Andreou
Inside Biden's plan to stop Trump stealing the election
Putin Vision – How does Russia see the rest of the world?
Capital gains: How Paris is getting it right
Public enemies: Britain’s greatest political rivalries
The world at war? – Start Your Week with Alex Andreou and Hannah Fearn
Can Jesus help Donald Trump win in 2024?
Can we really grow the economy forever? – with Daniel Susskind
Hitler – Why are we still obsessed with him?
“I watched GB News so you don’t have to” – Gavin Esler on his TV nightmare
Create your
podcast in
minutes
It is Free
Origin Story
The News Agents
Today in Focus
Newscast
The Rest Is Entertainment