• Step 1: Have high-up government connections.
• Step 2: Deal with a service so complicated that you don't need to explain it.
• Step 3: Transfer balances between your own entities to pump up valuations.
• Step 4: Payoff the accountants (or don't have a CFO at all!).
Enron, WorldCom, Madoff Securities, FTX. All of these companies have had Icarus-like rises and collapses and they all followed the same playbook. Is it a coincidence that the man who returned $20 billion to Enron’s creditors will now oversee FTX through Chapter 11 bankruptcy?
Today, Antonio Reza (https://twitter.com/theantonioreza) (Head of Finance for Google Cloud EMEA, ex-Microsoft Azure, ex-GE) joins James to discuss the greatest fall of them all, Enron, and its similarities to the recent plummet of FTX. Antonio's recent thread about Enron (https://twitter.com/theantonioreza/status/1588892073956200448) is a must-read and his Twitter account is full of similar insights.
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• Visit Notepd.com (https://notepd.com/) to read our idea lists & sign up to create your own!
• My new book, Skip the Line (https://www.amazon.com/Skip-Line-Experiments-Surprising-Reaching/dp/0062998927) , is out! Make sure you get a copy wherever books are sold!
• Join the You Should Run for President 2.0 (https://www.facebook.com/groups/president2.0) Facebook Group, where we discuss why you should run for President.
• I write about all my podcasts! Check out the full post and learn what I learned at jamesaltuchershow.com (https://jamesaltuchershow.com/)
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Thank you so much for listening! If you like this episode, please rate, review, and subscribe to “The James Altucher Show” wherever you get your podcasts:
• Apple Podcasts (https://itunes.apple.com/us/podcast/the-james-altucher-show/id794030859?mt=2)
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