Are you sitting down? The economy might be in a recession.
It was not a great day to be a billionaire oligarch savior of humanity.
FTX’s Sam Bankman-Fried’s humiliation continued. It was reported that he lent himself $1 billion through his hedge fund; he cashed out $300 million last year and told investors it was a partial reimbursement, and even apparently collected $370,000 in PPP loans when the company was already worth ten-figures.
Theranos founder and convicted fraudster Elizabeth Holmes was sentenced to 11 years in prison.
And Elon Musk admitted that he intends to enforce a new censorship regime at Twitter that includes shadow-banning content. This comes after the Tesla CEO has touted the importance of free-speech on his newly acquired platform. (Also this week, a Tesla burst into flames on a Pennsylvania highway.) Musk did throw conservatives a bone by…