- 9 hours ago
Industry - Season 4 - Episode 05: Eyes Without a Face
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00:05You
00:20School fucking failed her. Of course. I pay all that tuition, and they don't know what the fuck she's up
00:27to.
00:28Walk her down the aisle for you. Where's your fucking duty of care that night spent less time with that
00:33whore in New York?
00:34Candace
00:35You left me. Oh, of course. That's your cowardly way of figuring it. You heard that prissy bitch
00:43One of our kids is fucked in the head. Why else would they expel her?
00:48This is what happens when a child is never left wanting you give her everything
00:52Except what she needs you think your disinterest doesn't affect them
00:58Even subconsciously they need your love and guidance
01:03They crave it. Why is it so hard for you to give?
01:11Guys, I've been pretty pliant, but risk needs more margin on the tender position. My hands are tied
01:15We stuck to the risk limit that we agreed 250 gross leverage
01:19Yes, stock is up another 7% on Morgan Stanley's
01:22Turbo bullies preview the user uptake data for their new app. They've heavily beat the projections
01:27We can't wear this pain. I can't you need to post more collateral or we'll continue liquidating your other positions
01:33What fucking positions my positions? European positions this morning your poetry is in the energy in utility names
01:39H
01:40Papa those were my positions the only ones in our book making any fucking money. We needed some headroom, okay?
01:46And your longs hedges whatever you want to call them are not conviction
01:49Positions and they run counter to the philosophy of this fund. What's the philosophy bet big lose the house?
01:55Are you fucking margin calling us or not? Hey
01:59Spur me the tone Eric, okay? I'm nominally a friend, but the margin clerks here to make Reynard Hedrick look
02:04laissez-faire, okay?
02:05And you've breached your risk limits. I bought you this day of execution. It's more than I owe you really
02:09You're gonna have to post more collateral in the next 48 hours 72 at the absolute most or I won't
02:15be able to stop your man liquidating tender to
02:16That other share price sees a material sell-off, but the world does not see that company the way you
02:21do
02:22Unfortunately, gotta bounce. Need it back on the desk. Sorry
02:25Pierre's emailed. He's asking me to speak at the alpha conference some bullshit women in finance presentation more virtue capitalism
02:32seems low priority
02:34It's not
02:35Even if he wants you to personally sew a bed net for every malaria kid in molly say yes
02:40We need all the positive press we can get so what's the move?
02:44Uh only one
02:47Now Dyker's piece has been nixed. I'm gonna advocate for this until I am blue in the face
02:52You need to let me go to Accra and speak to tender CFO in Africa
02:56We keep saying that we have conviction from fucking where exactly do you have a plan out there a potential
03:02itinerary? Yes
03:03All right, I think we owe it to
03:05Sweepy's work on this for her and I to travel and then we can sleep knowing that we did everything
03:09we could do
03:10That is literally all I'm asking and high probability the trips a blank our CIOs on a fool's errand when
03:16the fun is
03:18Melting down around us. How do we spin that to Pierre and co? Well Dyker's death is a spooky coincidence
03:23Like in a straight-to-video kind of way. The world is made of them. I don't understand how Rishi
03:30Happened to be acquainted with a journalist. He sold drugs to him apparently and he's facing manslaughter charges
03:35I'm glad he found his way home. I'll go when I know more
03:40Speak soon
03:45He was a very retrograde human being. Okay, someone who isn't me has on occasion
03:50Frequented the onion router and it seems off to me that coke procured off the dark web would have fentanyl
03:55in it. Just seems
03:57Sloppy well, Rishi was fucking sloppy wasn't he Harper? I'm bringing us on the next BA to Accra. Um, I
04:04Maybe I should stay as Eric said it's
04:06Um responsible for me to stay sure whatever. I'm you don't have to follow through but my plans are unchanged
04:17You good
04:19It's just my landlord said on um unpaid service charge on my apartment
04:26Sweet do you think it's wise for you to go alone? Eric, it's not live and let die on the
04:31ground there, you know
04:32Fine, maybe you should go there. Yeah, maybe I should
04:35Fucking use am I here so unseen appropriate to unilaterally liquidate my book. Do you know, um, Accra? Well, uh
04:43I used to go four times a year then once every four years now sort of never big extended family
04:49I'm not sure what you said be. I think you should both leave
04:54If that's what you want to do it's my final decision
05:06Eat something
05:07Eat something I'm not hungry
05:18The fuck's gotten into you
05:22You joined this fund to run ops that was your experience
05:26It's keeping the music playing is an operational issue
05:31It's fun
05:33Put one position up in lights staked its reputation on it that position
05:38Was your choice and remain so
05:45It's not worked
05:48What are our options pull back our gross exposure get back
05:54Inside our risk limits liquidating the other names in cobb in his book did that it is not going to
05:59appease them enough
06:00How'd you think your head trader took you expunging his positions without consent?
06:05those the actions of a
06:08Good boss. I'm sorry. You want to run that sentence back to me or shall I point out every hypocritical
06:14fucking syllable
06:18Inequity infusion
06:20Emergency cash raise
06:22We scraped the fucking barrel getting dollars in the first place. This is all why now for fresh blood
06:27Okay, what about a hail mary or a leveraged binary trade. I'm not letting you play craps
06:33Okay, I've given you enough mileage my 10 million first loss is already on the pyre. I think if you
06:38leave your girls some money
06:39They're gonna love you
06:45Harper
06:49How's that even an appropriate segway?
06:53Give me a fucking break
06:56You have become too timid
07:01Fuck fuck fuck am I even doing here with you anyway fucking honestly
07:05I don't know could ask myself the same question considering your experience has amounted to fucking not
07:11You are not useful to me. Oh, that's what this is is it what else could it be Eric?
07:18What else do you need from me?
07:21You have no idea how lucky you are that you have people that expect your love no no
07:27Demand your love and you don't feel worthy of it. So you can't give it
07:33Nothing between us is gonna fix that for you
07:57Nothing between you and me ask you
07:59For me
08:00You can't give it
08:05Oder
08:22Hey, honey, I'm in the ball.
08:23Are you coming down?
08:25Don't call this number again.
08:42Uh, what's the plan for today?
08:44Um, I had a Zoom set with Tender's Tony Day last week.
08:48I updated him this morning.
08:49I said that we could change to an in-person meeting
08:51as I have other management meetings bringing me to a craft.
08:54We tell Day that we're trying to get under Tender's bull case
08:56and think stock has further to climb.
08:58I also want to visit Tender's last acquisition
09:01before the biz pivot.
09:02Swift, you see.
09:03Hmm, well, personally, I think you're digging for gold in a sandbox.
09:10All right, Erin Brockovich.
09:13Look, I'm very happy to not see you for the duration of this trip.
09:38I think these guys would clean my shirts for free
09:40and are paying $100,000 a month to live here.
09:44And stop quabbin' out, ordering food to the room.
09:46How many chicken wings can one person eat?
09:50Why are you up so early?
09:52Giving yourself the night to come up with an appropriate fucking apology?
09:56My mom died.
09:59My brother called me from New York yesterday to say there'd been an accident.
10:04She just went overnight.
10:07Christ.
10:10I'm sorry.
10:14You can talk about it to me.
10:20That's the point.
10:21Like, I don't know what to say.
10:24I don't even know how to feel.
10:28She was awful to me.
10:31And she tortured my brother so badly,
10:34she fucked him up to the point where he was incapable of loving me.
10:39And it was his love when I was young.
10:43It's the only...
10:45love I remember.
10:50What else do you remember?
10:56Resentment.
10:57Hmm.
10:59Actually.
11:01I think it's hate, actually.
11:03Hmm.
11:04They can be good motivational principles.
11:07Trust me.
11:09Until they're not.
11:12Until they're not.
11:31She fell down the stairs.
11:34Running for an Amazon delivery.
11:39You're joking.
11:40I'm not.
11:44I know this kind of pales in comparison,
11:48but my daughter got herself expelled, excluded, whatever.
11:55They, uh, threw her out of a school for little monsters
11:59for being a little monster.
12:01What did she do?
12:03Uh, she was the ringleader of a group that catfished a peer,
12:13pretended to be a boy,
12:14made this girl travel for a date,
12:18encouraged her to dress provocatively,
12:23and took pictures of her when nobody showed meticulous fucking cruelty.
12:33It's pretty dark.
12:34So were the pictures.
12:36Child dressed like a hooker.
12:39Waiting.
12:41My brother and I were very problematic at her age, too.
12:47Imagine swallowing such cut-and-dry evidence
12:49of your failure as a father.
12:54What I feel for my kids should be celestial, metaphysical.
13:01But instead, it's...
13:04What have you done for me today?
13:09I know, when I'm with them,
13:12it's the only place I should be.
13:17But I don't want to be there.
13:21It's a sick thing
13:24to look at an innocent kid
13:26and think I'm an animal that works on attention.
13:29And no, no, no.
13:31You don't hold mine.
13:36It feels like
13:38a betrayal of
13:42something very ancient.
13:46It's surely not lost on you
13:49that you picked a hyper-transactional career
13:52where the transactions aggregate to zero.
14:01They don't make me feel substantial.
14:04They really should.
14:11I'm very fucking annoyed
14:15at how empty I feel.
14:19That this whole
14:21fucked-up situation with the fund
14:23is denying me my grief.
14:25Well, Harp, you are grieving.
14:31You know, I ran through all these
14:34scenarios in my head
14:35of what it would be like
14:36to see her again.
14:40Would you imagine?
14:43That she would have no choice
14:46but to fall to her knees
14:47and beg for my forgiveness.
14:51Because I had become
14:55fucking undeniable.
15:02You are undeniable.
15:27You are undeniable.
15:30You are my soul.
15:32You are my soul.
15:35Mother, do you want me to die?
15:38You want me to die?
15:43I just want that.
15:46Hi, I'm looking for a swift, you see?
15:49Over there.
15:59I'm looking for the office.
16:02Over there.
16:11Google doesn't have a number attached.
16:15Do you have one, by any chance?
16:17Yes.
16:22I can, um...
16:30Dash you, $20.
16:31Do you have one, by any chance?
16:36Do you have one, by any chance?
16:37Do you have one, by any chance?
16:38Do you have one, by any chance?
16:40Do you have one, by any chance?
16:41Do you have one, by any chance?
16:43Do you have one, by any chance?
16:44Do you have one, by any chance?
16:46Do you have one, by any chance?
16:48Do you have one, by any chance?
16:49Do you have one, by any chance?
16:50Do you have one, by any chance?
16:51Do you have one, by any chance?
16:54Do you have one, by any chance?
16:56Do you have one, by any chance?
16:59Do you have one, by any chance?
17:00Do you have one, by any chance?
17:00Your call is important to us.
17:03Please continue to hold while we find the next available operator.
17:17Hi, we have an 11am with Tony Day and Mustin Asset Management.
17:21Okay, if you sit, I'll call up and let him know you're here.
17:26Is the AC not working?
17:28No, sorry.
17:33I went to SWIFT GC and there's no office there.
17:37Their supposed direct line just redirects you to Tenders Dublin call centre.
17:41Is it that strange that you call a company and their parent company answers?
17:55How long has he kept us waiting?
17:57He's closing in on two hours.
18:00Hi, sorry, is his meeting still overrunning?
18:02It is, I'm afraid.
18:04Maybe a power move.
18:12Um, Mr. Day.
18:13Hello.
18:14Hi, Mustin Asset Management.
18:15Pleasure.
18:16I'm sorry, I didn't mean to blow you off.
18:18Yeah, not a problem.
18:18Do you have 15 minutes?
18:23I can give you five.
18:27We're just doing a little field work reconnaissance to help our investment case and tender, among
18:31with some other equity ideas in the region.
18:33We've been buy and hold for some time.
18:35Yeah, you and everyone else.
18:36Although, uh, being a stock market, darling, thank you, comes with its own challenges.
18:41I mean, I guess they must look after you, expecting you to put roots down so far away from home.
18:46Couldn't have given the job to a local?
18:50Um, would you mind fleshing out your plan to migrate users from the payment processor acquisition suite to the new
18:59app?
19:03Actually, I would just love more granularity on your local acquisitions, because the, um, the diversity of them really piqued
19:10my interest.
19:11Uh, payment processors, text to pay, prepaid cards, what's the unifying principle there?
19:17What other equity opportunities were you looking at in the region?
19:25You said you had other ideas that you were circling locally to invest in.
19:30Mm-hmm.
19:33Fan milk.
19:35Consumer goods.
19:37MTM.
19:38Wow.
19:39Mm.
19:40That's dull.
19:43Defensive, transparent revenue streams.
19:45We don't like risk.
19:48Great.
19:49Well, um, if you want a tour or transport out of the city, do let me know.
19:52There's much to see.
19:53Thank you so much for your time.
19:55Um, you know, you can just, you can call me.
20:01If you like.
20:02I just feel like talking.
20:10I get the feeling nobody's asked him any questions.
20:12I reverse image search that novelty check pic, and it links to an article about Swift GC's acquisition.
20:17It's a curious detail about who did it.
20:19A local boutique investment bank?
20:21No, Swift GC instructed a lawyer.
20:24Is that that curious?
20:25I assume that happens a lot here.
20:27Well, how curious it is depends on the size of the deal in question and the size of the legal
20:31operation, does it not?
20:33I've booked an appointment with the lawyer and told him that we work for Merger Market and we're meeting anyone
20:37involved in M&A deals in the territory.
20:40Sorry, uh, Mr. Samuels is-
20:43Oh, call me Lawyer.
20:48My name is Lawyer.
20:50Oh.
20:51It's not uncommon here.
20:52Although, I'm not sure how often that kind of nominative determinism works out.
20:56By example, I was christened Dog Fucker Baderman.
21:03Ooh.
21:05Um, may I ask how you defined Swift GC's valuation?
21:10Swift GC is a high growth company.
21:13It's not uncommon for comparables to be valued at 10, even 20 times revenue.
21:17The mobile pay sector has boomed since the Bank of Ghana relaxed the regulatory environment.
21:22Do you have much other experience in 50 million dollar M&A deals?
21:26I have an accountant.
21:29And, as I said, an expert valuation advisor I've worked with for 30 years.
21:34A regulatory advisor.
21:35A tax guy.
21:37I could go on.
21:38And how did the fee structure work?
21:40Excuse me?
21:41How were you paid?
21:46I have been nothing but polite.
21:48That is not a polite question.
21:50And how is it relevant to your database?
21:54You know, you don't need to be rude to him just because he straight batted all your questions.
21:57Nothing about that guy and his operation was commensurate with the size of the deal that Tender did with Swift
22:01GC.
22:02You're telling yourself that to bend the facts to what you want to be true, right?
22:06He said it himself.
22:08It's Africa.
22:09Just because it's different doesn't make it wrong.
22:11Let me put this as delicately as I fucking can.
22:13How much do you actually know about Africa?
22:15You can stop with this, like, prodigal son gimmick.
22:18The answer is probably alcohol.
22:19Original iPhone with iPhone.
22:24What materially changes in the world if, at the bottom of the barrel, these guys are better and we prove
22:28it?
22:28I mean, does the world improve?
22:31You know, being as glib as you are is actually charmless.
22:34You think it is charming, but it is charmless.
22:37I have given this my full fucking attention and that is a finite resource.
22:42That is why the outcome matters.
22:47I mean, yeah. Yeah. I guess you're probably right.
22:51This is probably just like a big old fucking distraction and like a fucking waste of my time.
22:56Oh, come on. Don't say that.
22:57Look, I'm just saying we should probably tell someone if we're on the verge of eliminating all financial fraud in
23:02perpetuity and delivering equitable economic outcomes for all.
23:07Well, between us, I need this shot to work.
23:10Before I took Harper's offer, I interviewed at multiple places.
23:14I couldn't get a job.
23:16You can imagine why.
23:20You know, it was a tough thing to happen.
23:22Keep moving forward.
23:24Let the distance grow between me and the event.
23:27Just let time do the work.
23:31When I think of those pink faced, fat neck losers laughing at me.
23:39God, so much disrespect for your audience.
23:42You should run a movie studio.
23:44Well, the guy who outed me, he got his in a sort of roundabout way.
23:49In a roundabout way?
23:52Rishi?
23:53You know it was him?
23:56I think certain things in life make sense.
23:59And your stomach is probably right, separating theory and fact.
24:07You're a family now?
24:11What do they make of it?
24:16Well, I thought I was close to my mum.
24:18Um, I was.
24:20I mean, I am.
24:21I am.
24:22Like, she's my confidant, you know?
24:25And then this happened.
24:28And she knows about it.
24:31And she just pretends like it didn't.
24:35And, like, I'm waiting and waiting for her to say something about it and she just doesn't.
24:40And, like, yeah, that just, like, broke my heart.
24:47Hey!
24:47Come on!
24:48You said you'd come.
24:49Come pick the next song.
24:50Alright, I'm gonna lay this shit on thick, okay?
24:52Make me a market on how many of these punters fuck off when I start singing.
24:56What do you think of that?
24:58Hurry up!
24:59One second, one second.
25:00I'm coming.
25:11Alright.
25:15Hello, Miss Golightly.
25:17Hi.
25:18You're almost as memorable as your name.
25:21Tell me, are you a compulsive liar or was this a one-off?
25:27Into the night.
25:33Why did you lie?
25:34I looked you up on the FCA register and then I called your former employer.
25:40A man in your position must know that there is a vocal minority who believe tenders share price to be
25:44an illusion.
25:45I don't know if you're aware of the growing speculation in the press.
25:50You mean Jim Diker at Fin Digest?
25:54He telegrammed me, yeah.
25:55He was, uh, yeah, he was supposed to visit us.
26:05To get you on the record?
26:08Well, how should I know his intention if he never followed through?
26:12Were you in contact with his editor, Mr. Burgess?
26:16Diker mentioned that he could sketch out a couple of pathways for me.
26:26Would you know about those?
26:29Pathways for what?
26:37Well, how should I know, Miss Galeigh?
26:40Leah never met him.
26:44You know that he passed away.
26:48Wasn't aware.
26:57Where are you now?
26:59Auntie Frieda's in Ozu.
27:02If you don't want to talk on the phone.
27:05It's not a violent city, but the beach can get quite dangerous at night.
27:25Oh, I close my eyes.
27:30And I wonder why.
27:33I don't despise.
27:37Eyes without a face.
27:40Got no human grace.
27:43Your eyes without a face.
27:57Sorry, is this the ladies?
28:02Did you not hear me?
28:03This is the fucking ladies.
28:15Why are you?
28:16No, no, no!
28:19Oh, no !
29:07Oh, shit!
29:09Do you think you were, like, targeted?
29:11Tony Day called me before it, so you fucking tell me!
29:15Slow down.
29:16Fuck.
29:17I'm so fucking jacked up right now, I'm gonna...
29:20I will go to fucking war.
29:22I will run a fucking train on them.
29:27Are you sure it's not broken?
29:31I love my nose.
29:33No, no, I know.
29:34I know.
29:35I know, it's a good nose.
29:36It's a really good nose.
29:50Can you stop fucking around and just admit that you've seen my tits?
29:58Okay, cool, fine.
29:59Yes, fuck it.
29:59Yes, I saw it.
30:01Did you like it?
30:02Oh, my sweet people, what are you doing?
30:04Well, did you like it?
30:05I don't know what the right answer is.
30:09Honesty.
30:10Honesty.
30:12Okay, well, I mean, I didn't not like it.
30:19Is Harper a good fuck?
30:21Oh, why?
30:22Because crazy girls are good and bad?
30:24I think that that is reductive and misogynistic and often true.
30:28Yeah, oh, no, I agree.
30:29I was just, like, projecting what you think.
30:31Did you wank to my siren videos?
30:33Oh, fucking hell, man, what?
30:35Did you jerk off to it?
30:36Are you a porn addict?
30:38A porn addict?
30:39I mean, I guess.
30:41Like most men who grew up with the internet.
30:43Like, I can see whoever do whatever to whoever whenever.
30:50I want to build a picture of the men who've seen me.
30:53Sweetbeat, you chose to put it online.
30:55I was fucking 19.
30:57It's money.
31:01Do you watch porn?
31:05Like a lot of women who grew up on the internet, yeah.
31:08What'd you make of that bird who got tag-teamed by a thousand youths and shysties?
31:11Yeah, more power to her.
31:12Oh, come on, you don't believe that shit.
31:14Oh, fuck pathologizing it, you know?
31:16Fuck Freud, it doesn't always have to be a why.
31:19Yeah, that shit's bad for the soul.
31:21Good for the body.
31:22What do you like?
31:24Now that is a question nobody gets an honest answer to.
31:27I said, what do you like?
31:34You made me say this.
31:38Fuck it, I feel like such a traitor.
31:41Forgive me, Dr. Uma.
31:43I like premium calcium.
31:53Small, blonde, white women.
31:56Yeah, I know.
31:57I know, I'm a cliche.
31:58Look, sue me.
32:00Okay?
32:01But, but, I also like to be held.
32:06You're a fucking corny cunt, do you know that?
32:10Yeah, I guess, uh, some things are only attractive because you can't have them.
32:31Do you want to put the key in the light?
32:45Actually, don't.
32:48Can you stay for a bit?
32:50I'll be, I'll be just next door.
32:54Just shut the fucking door.
33:00Pull my fucking hair.
33:01Pull my fucking hair.
33:02Oh, fuck.
33:04Hold on.
33:07Fuck.
33:22Oh, my God.
33:25Oh, my God.
33:46Oh, shit.
33:47I, I, I didn't realize you were here already.
33:50Any update from Accra?
33:53Coabana didn't sound optimistic, and they both went dark.
33:57I feel like we're running out of time.
34:01I have an idea.
34:04Source more margin from another prime broker.
34:07Can't do that.
34:08In our precarious state.
34:10Okay, but what if we don't tell them about our state?
34:13Our financials, our exposure.
34:15We'll just tell them that we fell out with our prime broker.
34:18That they missed out on a buzzy fund.
34:20Whatever it takes to get some fast cash.
34:24They'll ask for documents.
34:26And we'll give them documents that read the way they wish them to.
34:32Bogus financials.
34:36What happens if Tender continues to defy gravity?
34:41We're double leveraged.
34:42What, we get two margin calls?
34:47And open another Erzot's fucking line.
34:51Throw a third in for shits and giggles.
34:53That's not us losing the house, you know.
34:55It's fraud.
34:57Conspiracy.
34:58Racketeering.
34:59Why are we holding ourselves to any ethical standard when they have none?
35:03Why would we invite potential prosecution when nothing has materially changed on what we can prove on Tender?
35:09It's brainless.
35:10We're gonna lose the war.
35:12Because they are willing to fight dirty and we're not.
35:15Harper.
35:17The thing's lost.
35:21As your co-partner, my position is we liquidate our tender position and find the least painful way of boarding
35:39this whole thing up.
35:57There for your face.
36:00Let's just figure out that this happened.
36:03Okay.
36:04What happened?
36:08I was fucked up.
36:11So you do always need a Y.
36:15Okay, so look.
36:16I'll be the first to admit, I didn't really come here with a whole lot of belief in it solving
36:20the trades problem.
36:21But, while you were sleeping, I did a bit more digging.
36:24Apparently Tender acquired Swift GC from Gold Salt Media.
36:27It's a tiny subsidiary in a suite of companies owned by a media conglomerate.
36:31I knew that.
36:32Okay.
36:33Well, Gold Salt Media's chairman died recently.
36:36His scions were jockeying him to cut up his financial corpse.
36:39Uh, Murdox and Kente.
36:42God, how long have you been up?
36:46Um, so what's the point?
36:48Well, the British sought to civilize the Gold Coast.
36:50They didn't think enslavement was enough to bring us closer to God.
36:52They also saw fit to import buggery and emotional retardation.
36:54Sorry, what?
36:56Boarding schools.
36:57Oh.
36:58Okay, so my auntie is not really my auntie, but, you know, she went to Hashimoto with a certain Mrs.
37:02Mensa.
37:03Now, Mrs. Mensa is mourning her father's death.
37:06And her father just so happens to be the Urshua chairman of Gold Salt Media.
37:12Yeah.
37:14Donna's very small at the top.
37:16Can you flesh out your connection to Swift GC for me?
37:19Eight of us squabbling over his legacy.
37:22I say it's not big enough to warrant a dispute.
37:25Swift GC was a chunky deal, right?
37:27Yes.
37:28But it's more of a real estate dispute.
37:30The land the office is on.
37:32But Tender paid $50 million for Swift GC, right?
37:37What?
37:47If we had $50 million, it would be a total bloodbath.
37:53But the check says $50 million, does it not?
37:55You can write whatever nonsense you want on them.
37:58Doesn't mean it's true.
38:00$50 million for a tiny company.
38:02Lord, have mercy.
38:04Thank you so much for the tea.
38:06Can we see the business?
38:07It's only listed as a P.O. box online.
38:11We'll see you next time.
38:21We'll see you next time.
38:45Look.
38:47Fifth floor.
38:51Why are we whispering?
39:28Sorry, we're just looking.
39:30Do you know of Tender?
39:42Who hired you?
39:43Swift GC, Tender?
39:44Why are you here?
39:46Squatters.
39:48Squatters.
40:14What are we looking at?
40:20a facade
40:25say we prove tender isn't what it says it is we get the surrogate joy
40:29saying your identity is bullshit you're a fake and what we temporarily get to
40:37live in the illusion that we ourselves are built on firmer ground well crucially we're not lying
40:45to the world to profit off it that feels much closer to the truth of my life than anything else
40:54i've said
40:54to myself
41:09sweepy the thing is nothing what put me on speaker you you are go the thing is nothing okay all
41:15right
41:15can you explain dyker's payment laundry thesis suggested that tender's high frequency of
41:20acquisitions was to circumvent local decency and gambling laws right but what if something else
41:25was motivating their indiscriminate spending let's say you claim to be a fast-growing highly revenue
41:30generative company but it is only a claim fake profits leads to fake cash so what you have to do
41:35you have to deploy said fake cash why because the cash reserves are the first thing that an auditor
41:39looks at but how do you account for the cash balance not being there you say oh i've already
41:44spent it but tender are lying about the value of what they're buying out here because juicing it
41:48up fuels the facade of aggressive growth and then deploy said fake cash it's a potemkin village they
41:53paid 50 million dollars for an empty room why because they didn't swift gc has no users there is
41:59no revenue and there is no 50 million dollars that's what their book says but it's cosmetic they
42:04probably paid three cents on the dollar if that and then knocked it back with bribes at local level to
42:08make it look like many multiples more photo ops novelty checks it's all surface the cash can never
42:14sit still it doesn't even need to be real if it's hot footing from one acquisition to another always
42:19too short a stay to be seen they can always point to its next destination correct the opaque structures
42:24the complex web of subsidiaries the africa of it they're probably so brazen they think people are too
42:30lazy to do the footwork to actually knock on the door well guess what uh i knocked on the door
42:34bitch each stage of tender's pre-pivot is all overinflated and each lie relies on the next
42:42fake users drives fake revenue which drives fake cash which there must be deployed on acquisitions
42:47which accounts for more fake users and more fake revenue it's an ora burris sure whatever the
42:52fuck that is it is a feedback loop of fakery that is why their profits never suffered after the u
42:59.s
42:59gambling legislation came in and why whitney could call siren without a second thought about the bottom line
43:04tender started as a payment processor yeah and it became a bank to hide the fact that it was
43:08never a successful paper processor it was a phantom the thing it was nothing so we can corroborate
43:16this did you get photos of swift gc yes yes we did and dike's sources here and i think that
43:21we can
43:21make him the mother load he wants the whistleblow he wants some pathways to understanding what that
43:26might look like unfucking believable work sweet pea yeah i quite agree keep us paying up to date
43:41how do we present this and how fast and why can we disseminate it we don't have irrefutable
43:47evidence we need the informer we don't need the world to believe us we're just enough investors
43:52with enough capital what if i go to pierre's conference and instead of talking about women in
44:00finance that talk about something else entirely we don't need proof why because we finally have
44:06a compelling story to tell
44:13burgess mr burgess hi i'm sweepy go lightly you're what i'm very sorry for the loss of your colleague
44:19i work for an investigative hedge fund stanton yeah i've heard of you unfortunately i've opened a
44:25potential line of communication with jim dyker source here in accra who he planned to meet yeah
44:29before tender muzzle does are there any protections that you can offer him as a public body i mean there
44:35was a whistleblower directive but we're not covered by that anymore because doom brain mugs falsely
44:41incentivized other doom brain mugs to vote us out of europe what else can incentivize him well i mean
44:47what vectors can you hit him on doing the right thing i mean that's largely bullshit to human ears
44:51relief from the burden of the lie relief from threat from other perpetrators of the lie relief
44:58from prosecution i i say this with respect but these sources tend to be incredibly sensitive given
45:03what's on the line yeah they require a special bond trust established through time it's a gentle
45:11protracted process it's not best led by a person who stands to be financially compensated if the source
45:17decides to talk miss go lightly i'm here you think jim was right about these guys
45:26he was more right than he knew speak soon
45:34so how do you play it we snook at him
45:47so underqualified and so overpaid and that was the law right it was too good to be true because
45:53actually it wasn't true and now the hook is in your gut and you have two outsiders
46:00walking into your office saying we know well i'm not on the hook for anything because it closed
46:04yesterday my tender equity was worth 80 million dollars at what point did this start did this
46:08start with juicing the user numbers for the funding round or was it the ipo you know how many people
46:12are complicit in this god it must have been exhausting to live with that compound and growth
46:18each fat liar relying on the next i mean i don't think there's a more tired man on earth right
46:22now
46:22yeah and you're the second most tired man at tender has halberstram ever threatened you no
46:28pay enough people to follow top-down orders and then pay them some more to look the other way i
46:32bet
46:32these people here don't even think of themselves as accessories in the room the africans exchange the
46:37bribes while the white men talk was every acquisition as empty as swift gc tony you assume that someone is
46:44listening to you and watching you if it's not halberstram who i assume
46:53you know i want to know exactly how i am able to minimize my liability before i make any kind
47:04of
47:04disclosure and i want counsel before any of that okay we'll fly you to london buy you a ticket no
47:12trail
47:12to you introduced to edward burgess formalize a path of protection through finn digest yeah but what
47:19have you got without me the board the government the auditors the investors the research analysts
47:24they've got no incentive to believe you so they won't devil say or conjecture that you guys you're
47:29paid to believe is do you want to answer to us or do you want to answer to law enforcement
47:34you never get the feeling you're a little bit above your station here never in my
47:38fucking life sir you fancy paying for my nose job too because we can add actual bodily harm to your
47:45list of charges it's not something that happens overnight no this is your window to potentially
47:51being exculpated you're salivating over the speed of it all aren't you you actually genuinely who
47:56fucking cares what incentivizes the truth you can be a victim in this not a perpetrator if you want to
48:03be
48:03punished like a perpetrator that is fine with me or we can engineer your flight and start telling
48:09the story of your victimization this is your choice
48:34i'll consider thanks for coming in
49:00she's hollowed out i'm not sure what lesson we can teach her she hasn't learned from it already
49:05mind if she stays over she's exhausted um why don't you stay too you must be beat
49:16stay you sure of course take the take the bed with her okay
49:27stay
49:28i just wanted to say don't mistake regret for love the girls won't
49:59stay okay
50:02okay
50:40Hey, it's me.
50:46You always have a room here.
50:49And stand by.
51:00Hey, make me feel big.
51:04Yes, Daddy.
51:05No.
51:10No.
51:17No.
51:19No.
51:21No.
51:22No.
51:23No.
51:23No.
51:23No.
51:23No.
51:23No.
51:23No.
51:23No.
51:23No.
51:26No.
51:27No.
51:27No.
51:27No.
51:28No.
51:39No.
51:41No.
51:43No.
51:49No.
52:00No.
52:10No.
52:15No.
52:29No.
52:31No.
52:45No.
52:47No.
52:47No.
52:56No.
53:08No.
53:09No.
53:17No.
53:25No.
53:27No.
53:29No.
53:31No.
53:37No.
53:51No.
53:52No.
53:52No.
54:01No.
54:02No.
54:02No.
54:05No.
54:10No.
54:19No.
54:26No.
54:37No.
54:39No.
54:48No.
54:57No.
54:57No.
54:57No.
54:57No.
54:58No.
54:59No.
54:59No.
54:59No.
55:00No.
55:02No.
55:06No.
55:07No.
55:07so much time listening to my higher brain and his love of complexity and all along your
55:13guts telling you what's truly right.
55:16Yeah.
55:18Trust your gut, I guess.
55:24Don't ever fucking liquidate my positions again.
55:28Okay?
55:29I'm not some boy.
55:31Okay, we fuck each other.
55:33But not like that.
55:36Is that clear?
55:42Crystal.
55:48We need to get together these materials for this talk.
56:00Kravana?
56:01Yeah?
56:04If anybody calls for me, tell them I'm busy.
56:07I'm working.
56:09I'm working.
56:10I'm working.
56:13I'm working.
56:35I'm working.
56:38I'm working.
56:38I'm working.
56:43When I'm far from home
56:46Don't call me on the phone
56:49Tell me your love
56:52It's easy to deceive
56:57It's easy to deceive
57:00But hard to get released
57:05As you fall
57:08Eyes without a face
57:14Eyes without a face
57:20Eyes without a face
57:25Eyes without a face
57:29I know you can reach
57:31Your eyes without a face
57:53I know it's getting worse
57:58Eyes without a face
57:59Oh yeah
58:01Oh yeah
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