SBF on Losing His $32 Billion Fortune and Billions of Customer Funds: ‘I Got a Little Cocky’

EXCERPT:

STEPHANOPOULOS: “Then you said one of your great talents in a podcast was managing risks.”
BANKMAN-FRIED: “Right. And --”
STEPHANOPOULOS: “Well, that’s obviously wrong.”
BANKMAN-FRIED: “Well, I -- it’s -- I think that there is something even deeper wrong there, which is I wasn’t even trying. Like I wasn’t spending any time or effort trying to manage risk on FTX, trying -- like -- and that -- that obviously --“ [crosstalk]
STEPHANOPOULOS: “That’s a stunning admission.”
BANKMAN-FRIED: “What?”
STEPHANOPOULOS: “That’s a pretty stunning admission.”
BANKMAN-FRIED: “Yeah, I mean, I don’t know what to say, like what happened happened. And like if I had been -- if I had been spending an hour a day thinking about risk management on FTX I don’t think that would have happened. I think I -- I stopped working as hard for a bit. You know, honestly if I look back on myself, I think I got a little cocky, I mean more than a little bit, and I think part of me like, you know, felt like -- like we made it.”