1 00:00:18,680 --> 00:00:19,680 Oh, my God! 2 00:00:20,280 --> 00:00:22,599 - School fucking failed her. - Of course. 3 00:00:22,600 --> 00:00:24,200 I pay all that tuition... 4 00:00:24,920 --> 00:00:26,079 and they don't know 5 00:00:26,080 --> 00:00:27,959 - what the fuck she's up to? - If you tip them enough, 6 00:00:27,960 --> 00:00:29,679 they'll walk her down the aisle for you as well. 7 00:00:29,680 --> 00:00:31,719 Where was their fucking duty of care that night? 8 00:00:31,720 --> 00:00:34,719 Maybe if you'd spent less time with that whore in New York! 9 00:00:34,720 --> 00:00:37,040 Candace, you left me. 10 00:00:38,120 --> 00:00:40,879 Of course, that's your cowardly way of figuring it. 11 00:00:40,880 --> 00:00:42,600 You heard that prissy bitch. 12 00:00:43,720 --> 00:00:47,520 One of our kids is fucked in the head. Why else would they expel her? 13 00:00:48,080 --> 00:00:51,079 This is what happens when a child is never left wanting. 14 00:00:51,080 --> 00:00:55,040 You give her everything except what she needs. 15 00:00:55,560 --> 00:00:58,360 You think your disinterest doesn't affect them? 16 00:00:58,880 --> 00:01:00,160 Even subconsciously? 17 00:01:00,720 --> 00:01:02,600 They need your love and guidance. 18 00:01:03,120 --> 00:01:04,240 They crave it. 19 00:01:04,800 --> 00:01:07,280 Why is it so hard for you to give? 20 00:01:11,120 --> 00:01:12,719 Guys, I've been pretty pliant, 21 00:01:12,720 --> 00:01:14,559 but risk needs more margin on the Tender position. 22 00:01:14,560 --> 00:01:15,679 My hands are tied. 23 00:01:15,680 --> 00:01:19,399 We stuck to the risk limit that we agreed. Two hundred and fifty gross leverage. 24 00:01:19,400 --> 00:01:21,279 Yeah, stock is up another seven percent 25 00:01:21,280 --> 00:01:25,279 on Morgan Stanley's turbo bullish preview of the user uptake data for their new app. 26 00:01:25,280 --> 00:01:26,760 They've heavily beat their projections. 27 00:01:27,720 --> 00:01:31,039 - We can't wear this pain. I can't. - You need to post more collateral, 28 00:01:31,040 --> 00:01:33,280 or we'll continue liquidating your other positions. 29 00:01:33,760 --> 00:01:37,839 - What fucking positions? My positions? - European positions this morning. 30 00:01:37,840 --> 00:01:39,999 Your pair trades in the energy and utility names. 31 00:01:40,000 --> 00:01:42,759 H? Harper. Those were my positions. 32 00:01:42,760 --> 00:01:44,719 The only ones in our book making any fucking money. 33 00:01:44,720 --> 00:01:46,359 We needed some headroom, okay? 34 00:01:46,360 --> 00:01:48,559 And your longs, hedges, whatever you wanna call them, 35 00:01:48,560 --> 00:01:50,439 are not conviction positions. 36 00:01:50,440 --> 00:01:52,959 And they run counter to the philosophy of this fund. 37 00:01:52,960 --> 00:01:55,719 What's the philosophy? Bet big? Lose the house? 38 00:01:55,720 --> 00:01:58,439 Are you fucking margin calling us or not? 39 00:01:58,440 --> 00:02:01,319 Hey. Spare me the tone, Eric, okay? 40 00:02:01,320 --> 00:02:03,159 I'm nominally a friend, but the margin clerks here, 41 00:02:03,160 --> 00:02:05,399 they make Reinhard Heydrich look laissez-faire, okay? 42 00:02:05,400 --> 00:02:07,039 And you've breached your risk limits. 43 00:02:07,040 --> 00:02:09,480 I bought you a stay of execution. It's more than I owe you, really. 44 00:02:10,000 --> 00:02:12,639 You're gonna have to post more collateral in the next 48 hours, 45 00:02:12,640 --> 00:02:13,919 72 at the absolute most, 46 00:02:13,920 --> 00:02:16,999 or I won't be able to stop your man liquidating Tender too. 47 00:02:17,000 --> 00:02:19,319 That, or their share price sees a material sell off, 48 00:02:19,320 --> 00:02:23,279 but the world does not see that company the way you do, unfortunately. 49 00:02:23,280 --> 00:02:25,280 Gotta bounce, needed back on the desk. Sorry. 50 00:02:25,760 --> 00:02:29,159 Pierre's emailed. He's asking me to speak at the ALPHA conference. 51 00:02:29,160 --> 00:02:31,679 Some bullshit "Women in Finance" presentation. 52 00:02:31,680 --> 00:02:32,919 More virtue capitalism. 53 00:02:32,920 --> 00:02:35,080 - Seems low priority. - It's not. 54 00:02:35,680 --> 00:02:38,679 Even if he wants you to personally sew a bed net 55 00:02:38,680 --> 00:02:43,360 for every malaria kid in Mali, say yes. We need all the positive press we can get. 56 00:02:43,880 --> 00:02:47,120 - So, what's the move? - Only one. 57 00:02:47,720 --> 00:02:49,639 Now Dycker's piece has been nixed, 58 00:02:49,640 --> 00:02:53,119 I'm gonna advocate for this until I am blue in the face. 59 00:02:53,120 --> 00:02:57,119 You need to let me go to Accra and speak to Tender's CFO in Africa. 60 00:02:57,120 --> 00:03:00,959 We keep saying that we have conviction from fucking where exactly? 61 00:03:00,960 --> 00:03:03,439 - Do you have a plan out there? - A potential itinerary, yes. 62 00:03:03,440 --> 00:03:04,759 All right, I think we owe it 63 00:03:04,760 --> 00:03:07,959 to Sweetpea's work on this for her and I to travel, 64 00:03:07,960 --> 00:03:10,279 and then we can sleep knowing that we did everything we could do. 65 00:03:10,280 --> 00:03:14,439 - That is literally all I'm asking-- - And high probability the trip's a blank. 66 00:03:14,440 --> 00:03:19,279 Our CIO's on a fool's errand when the fund is melting down around us. 67 00:03:19,280 --> 00:03:21,119 How do we spin that to Pierre and co? 68 00:03:21,120 --> 00:03:23,559 Well, Dycker's death is a spooky coincidence. 69 00:03:23,560 --> 00:03:27,480 - Like in a straight-to-video kind of way. - The world is made of them. 70 00:03:28,000 --> 00:03:30,359 I don't understand how Rishi 71 00:03:30,360 --> 00:03:32,119 happened to be acquainted with the journalist? 72 00:03:32,120 --> 00:03:35,519 - Well, he sold drugs to him, apparently. - And he's facing manslaughter charges. 73 00:03:35,520 --> 00:03:37,559 - I'm glad he found his way home. - The fuck does that mean? 74 00:03:37,560 --> 00:03:38,879 I'll call when I know more. 75 00:03:38,880 --> 00:03:41,359 - His behavior means he's found his way... - Speak soon. 76 00:03:41,360 --> 00:03:43,079 ...to the most rational place for him. 77 00:03:43,080 --> 00:03:45,679 And I speak from trauma and experience, all right? 78 00:03:45,680 --> 00:03:47,959 He was a very retrograde human being. 79 00:03:47,960 --> 00:03:51,879 I know someone who isn't me has, on occasion, frequented the onion router, 80 00:03:51,880 --> 00:03:54,839 and it seems off to me that coke procured off the Dark Web 81 00:03:54,840 --> 00:03:57,959 - would have fentanyl in it. - It just seems sloppy. 82 00:03:57,960 --> 00:03:59,959 Well, Rishi was fucking sloppy, wasn't he? 83 00:03:59,960 --> 00:04:02,080 Harper, I'm booking us on the next BA to Accra. 84 00:04:02,600 --> 00:04:03,720 I... 85 00:04:04,440 --> 00:04:09,080 Maybe I should stay. As Eric said, it's responsible for me to stay. 86 00:04:09,720 --> 00:04:10,880 Sure, whatever. 87 00:04:11,960 --> 00:04:15,000 You don't have to follow through, but my plans are unchanged. 88 00:04:18,040 --> 00:04:20,599 - You good? - It's just my landlord. 89 00:04:20,600 --> 00:04:24,120 It's an unpaid service charge on my apartment. 90 00:04:26,960 --> 00:04:30,119 Sweets, you think it's wise for you to go alone? 91 00:04:30,120 --> 00:04:32,879 Eric, it's not Live and Let Die on the ground there, you know? 92 00:04:32,880 --> 00:04:34,279 Fine. Maybe you should go with her. 93 00:04:34,280 --> 00:04:37,399 Yeah, maybe I should. What fucking use am I here? 94 00:04:37,400 --> 00:04:40,399 Someone has seen it appropriate to unilaterally liquidate my book. 95 00:04:40,400 --> 00:04:42,160 Do you know Accra well? 96 00:04:43,760 --> 00:04:45,439 I used to go four times a year. 97 00:04:45,440 --> 00:04:48,079 Then once every four years. Now, sort of never. 98 00:04:48,080 --> 00:04:50,399 Big extended family. I'm not sure what use I'd be. 99 00:04:50,400 --> 00:04:52,000 I think you should both leave. 100 00:04:54,360 --> 00:04:56,120 If that's what you wanna do. 101 00:04:56,800 --> 00:04:58,080 That's my final decision. 102 00:05:06,760 --> 00:05:09,520 - Eat something. - I'm not hungry. 103 00:05:18,400 --> 00:05:19,880 The fuck's gotten into you? 104 00:05:22,800 --> 00:05:26,880 You joined this fund to run ops. That was your experience. 105 00:05:27,880 --> 00:05:31,320 Keeping the music playing is an operational issue. 106 00:05:31,840 --> 00:05:37,079 This fund put one position up in lights, staked its reputation on it. 107 00:05:37,080 --> 00:05:38,200 That position... 108 00:05:39,360 --> 00:05:43,040 was your choice, and remains so. 109 00:05:45,920 --> 00:05:47,800 It's not worked. 110 00:05:49,120 --> 00:05:50,799 What are our options? 111 00:05:50,800 --> 00:05:56,599 Pull back our gross exposure. Get back inside our risk limits. 112 00:05:56,600 --> 00:05:58,719 Liquidating the other names in Kwabena's book did that. 113 00:05:58,720 --> 00:06:01,279 It is not going to appease them enough. 114 00:06:01,280 --> 00:06:05,679 How'd you think your head trader took you expunging his positions without consent? 115 00:06:05,680 --> 00:06:09,199 Those the actions of a good boss? 116 00:06:09,200 --> 00:06:11,519 I'm sorry, you wanna run that sentence back to me, 117 00:06:11,520 --> 00:06:15,320 or shall I point out every hypocritical fucking syllable? 118 00:06:18,680 --> 00:06:19,880 An equity infusion? 119 00:06:20,760 --> 00:06:22,119 Emergency cash raise? 120 00:06:22,120 --> 00:06:24,679 We scraped the fucking barrel getting dollars in the first place. 121 00:06:24,680 --> 00:06:26,999 There's no "why now?" for fresh blood. 122 00:06:27,000 --> 00:06:30,999 Okay, what about a Hail Mary? Or a... a leveraged binary trade? 123 00:06:31,000 --> 00:06:35,519 I'm not letting you play craps, okay? I've given you enough mileage. 124 00:06:35,520 --> 00:06:38,039 My ten million first loss is already on the pyre. 125 00:06:38,040 --> 00:06:39,719 You think if you leave your girls some money, 126 00:06:39,720 --> 00:06:40,920 they're gonna love you? 127 00:06:45,600 --> 00:06:46,640 Harper. 128 00:06:49,680 --> 00:06:53,400 How's that even an appropriate segue? 129 00:06:54,160 --> 00:06:56,120 Give me a fucking break. 130 00:06:57,040 --> 00:06:58,920 You have become too timid. 131 00:07:01,160 --> 00:07:02,239 Fuck... 132 00:07:02,240 --> 00:07:04,479 Fuck am I even doing here with you anyway? 133 00:07:04,480 --> 00:07:06,039 - Fucking honestly. - I dunno. 134 00:07:06,040 --> 00:07:07,439 Could ask myself the same question 135 00:07:07,440 --> 00:07:11,839 considering your experience has amounted to fucking naught. 136 00:07:11,840 --> 00:07:15,559 - You are not useful to me! - That's what this is, is it? 137 00:07:15,560 --> 00:07:17,960 What else could it be, Eric? 138 00:07:18,520 --> 00:07:21,000 What else do you need from me? 139 00:07:21,480 --> 00:07:22,999 You have no idea how lucky you are 140 00:07:23,000 --> 00:07:25,279 that you have people that expect your love. 141 00:07:25,280 --> 00:07:28,959 No, no. Demand your love. 142 00:07:28,960 --> 00:07:31,840 And you don't feel worthy of it, so you can't give it. 143 00:07:33,760 --> 00:07:36,000 Nothing between us is gonna fix that for you. 144 00:08:22,320 --> 00:08:23,959 Hey, honey, I'm in the bar. 145 00:08:23,960 --> 00:08:26,960 - Are you coming down? - Don't call this number again. 146 00:08:42,400 --> 00:08:44,520 What's the plan for today? 147 00:08:45,200 --> 00:08:48,199 I had a Zoom set up with Tender's Tony Day last week. 148 00:08:48,200 --> 00:08:49,479 I updated him this morning 149 00:08:49,480 --> 00:08:51,479 and said that we could change to an in-person meeting 150 00:08:51,480 --> 00:08:53,599 as I have other management meetings bringing me to Accra. 151 00:08:53,600 --> 00:08:56,399 We tell Day that we're trying to get under Tender's bull case 152 00:08:56,400 --> 00:08:58,479 and think stock has further to climb. 153 00:08:58,480 --> 00:09:01,039 I also want to visit Tender's last acquisition 154 00:09:01,040 --> 00:09:03,919 before their biz pivot. SwiftGC. 155 00:09:03,920 --> 00:09:06,840 Well, personally, I think you're digging for gold in a sandbox. 156 00:09:09,880 --> 00:09:11,560 All right, Erin Brockovich. 157 00:09:13,400 --> 00:09:16,840 Look, I'm very happy to not see you for the duration of this trip. 158 00:09:38,880 --> 00:09:40,879 You'd think these guys would clean my shirts for free 159 00:09:40,880 --> 00:09:42,880 when I pay a hundred grand a month to live here. 160 00:09:44,040 --> 00:09:46,679 And stop Kwabena ordering food to the room. 161 00:09:46,680 --> 00:09:49,000 How many chicken wings can one person eat? 162 00:09:50,920 --> 00:09:53,599 Why are you up so early? You given yourself the night 163 00:09:53,600 --> 00:09:55,960 to come up with an appropriate fucking apology? 164 00:09:56,760 --> 00:09:57,840 My mom died. 165 00:09:59,680 --> 00:10:01,879 My brother called me from New York yesterday 166 00:10:01,880 --> 00:10:03,280 to say there'd been an accident. 167 00:10:04,560 --> 00:10:08,200 - She just went overnight. - Christ. 168 00:10:11,000 --> 00:10:12,080 I'm sorry. 169 00:10:14,320 --> 00:10:15,840 You can talk about it to me. 170 00:10:20,760 --> 00:10:23,400 That's the point. Like, I don't know what to say. 171 00:10:24,640 --> 00:10:25,920 I don't even know how to feel. 172 00:10:28,320 --> 00:10:29,880 She was awful to me. 173 00:10:31,560 --> 00:10:34,359 And she tortured my brother so badly, 174 00:10:34,360 --> 00:10:37,840 she fucked him up to the point where he was incapable of loving me. 175 00:10:39,840 --> 00:10:42,000 And it was his love when I was young... 176 00:10:43,440 --> 00:10:47,480 That's the only love I remember. 177 00:10:50,160 --> 00:10:51,760 What else do you remember? 178 00:10:56,120 --> 00:10:57,240 Resentment. 179 00:10:59,240 --> 00:11:00,240 Actually... 180 00:11:01,560 --> 00:11:03,240 I think it's hate, actually. 181 00:11:04,560 --> 00:11:08,680 They can be good motivational principles, trust me. 182 00:11:09,320 --> 00:11:10,840 Until they're not. 183 00:11:12,600 --> 00:11:13,800 Until they're not. 184 00:11:32,120 --> 00:11:36,400 She fell down the stairs running for an Amazon delivery. 185 00:11:39,880 --> 00:11:41,680 - You're joking. - I'm not. 186 00:11:45,120 --> 00:11:46,480 I know this... 187 00:11:46,960 --> 00:11:51,799 this kind of pales in comparison, but my daughter got herself expelled. 188 00:11:51,800 --> 00:11:53,640 Excluded, whatever. 189 00:11:55,240 --> 00:11:56,360 They... 190 00:11:57,240 --> 00:11:59,759 threw her out of a school for little monsters 191 00:11:59,760 --> 00:12:02,840 - for being a little monster. - What did she do? 192 00:12:06,520 --> 00:12:11,760 She was the ringleader of a group that catfished a peer. 193 00:12:13,120 --> 00:12:17,840 Pretended to be a boy. Made this girl travel for a date, 194 00:12:18,520 --> 00:12:22,080 encouraged her to dress provocatively... 195 00:12:24,520 --> 00:12:28,000 took pictures of her when nobody showed. 196 00:12:29,640 --> 00:12:31,560 Meticulous fucking cruelty. 197 00:12:33,360 --> 00:12:34,520 That's pretty dark. 198 00:12:35,160 --> 00:12:38,120 So were the pictures. Child dressed like a hooker... 199 00:12:39,840 --> 00:12:41,000 waiting. 200 00:12:42,000 --> 00:12:45,960 My brother and I were very problematic at her age too. 201 00:12:47,040 --> 00:12:50,240 Imagine swallowing such cut-and-dry evidence 202 00:12:51,000 --> 00:12:53,240 of your failure as a father. 203 00:12:55,160 --> 00:12:59,799 What I feel for my kids should be celestial, 204 00:12:59,800 --> 00:13:02,840 metaphysical, but instead it's... 205 00:13:05,200 --> 00:13:08,480 "What have you done for me today?" 206 00:13:10,000 --> 00:13:11,800 I know when I'm with them... 207 00:13:13,120 --> 00:13:14,840 it's the only place I should be. 208 00:13:17,560 --> 00:13:19,640 But I don't wanna be there. 209 00:13:20,800 --> 00:13:24,040 It's... It's a... a sick thing 210 00:13:25,040 --> 00:13:27,759 to look at an innocent kid and think, 211 00:13:27,760 --> 00:13:31,000 "Yeah, I'm an animal that works on attention, and no, no, no, 212 00:13:31,960 --> 00:13:33,680 you don't hold mine." 213 00:13:36,920 --> 00:13:38,040 It feels like... 214 00:13:39,240 --> 00:13:45,120 a betrayal of something very ancient. 215 00:13:46,720 --> 00:13:52,279 It's surely not lost on you that you picked a hyper-transactional career 216 00:13:52,280 --> 00:13:56,040 where the transactions aggregate to zero. 217 00:14:01,480 --> 00:14:03,440 They don't make me feel substantial. 218 00:14:05,360 --> 00:14:06,640 They really should. 219 00:14:11,840 --> 00:14:17,800 I'm very fucking annoyed at how empty I feel. 220 00:14:19,760 --> 00:14:25,799 That this whole fucked-up situation with the fund is denying me my grief. 221 00:14:25,800 --> 00:14:27,520 Oh, Harp, you are grieving. 222 00:14:31,720 --> 00:14:33,280 Do you know, I ran through all these... 223 00:14:34,160 --> 00:14:36,640 scenarios in my head of what it would be like 224 00:14:37,240 --> 00:14:38,640 to see her again. 225 00:14:40,760 --> 00:14:42,280 What'd you imagine? 226 00:14:44,000 --> 00:14:48,399 That she would have no choice but to fall to her knees 227 00:14:48,400 --> 00:14:50,840 and beg for my forgiveness. 228 00:14:51,800 --> 00:14:56,320 Because I had become fucking undeniable. 229 00:15:03,400 --> 00:15:05,720 You are undeniable. 230 00:15:47,040 --> 00:15:48,999 Hi, I'm looking for SwiftGC. 231 00:15:49,000 --> 00:15:50,240 Over there. 232 00:15:59,680 --> 00:16:01,320 I'm looking for the office. 233 00:16:02,240 --> 00:16:03,600 Over there. 234 00:16:11,920 --> 00:16:15,160 Google doesn't have a number attached. 235 00:16:15,760 --> 00:16:17,720 Do you have one, by any chance? 236 00:16:22,800 --> 00:16:23,840 I can... 237 00:16:30,440 --> 00:16:32,080 dash you 20 dollars? 238 00:16:59,120 --> 00:17:03,280 Hello, you've reached Tender. Your call is important to us. 239 00:17:03,840 --> 00:17:07,680 Please continue to hold while we find the next available operator. 240 00:17:17,400 --> 00:17:21,319 Hi, we have an 11:00 a.m. with Tony Day. Mostyn Asset Management. 241 00:17:21,320 --> 00:17:24,199 Okay, if you sit, I'll call up and let him know you're here. 242 00:17:24,200 --> 00:17:25,280 Thank you. 243 00:17:26,640 --> 00:17:29,920 - Is the AC not working? - No, sorry. 244 00:17:34,200 --> 00:17:37,399 I went to SwiftGC and there's no office there. 245 00:17:37,400 --> 00:17:39,959 Their supposed direct line just redirects you 246 00:17:39,960 --> 00:17:41,599 to Tender's Dublin call center. 247 00:17:41,600 --> 00:17:45,360 Is it that strange that you call a company and their parent company answers? 248 00:17:49,640 --> 00:17:52,080 Come, come, come, come and see the price tags. 249 00:17:55,920 --> 00:17:57,280 How long has he kept us waiting? 250 00:17:57,880 --> 00:17:59,960 It's closing in on two hours now. 251 00:18:00,440 --> 00:18:02,839 Hi, sorry, is his meeting still overrunning? 252 00:18:02,840 --> 00:18:04,199 It is, I'm afraid. 253 00:18:04,200 --> 00:18:05,760 May be a power move. 254 00:18:12,480 --> 00:18:13,839 - Mr. Day? - Hello. 255 00:18:13,840 --> 00:18:15,919 Hi, Mostyn Asset Management. 256 00:18:15,920 --> 00:18:18,079 Pleasure. I'm sorry, I didn't mean to blow you off. 257 00:18:18,080 --> 00:18:20,160 Yeah, not a problem. Do you have 15 minutes? 258 00:18:23,840 --> 00:18:25,120 I can give you five. 259 00:18:26,960 --> 00:18:29,279 We're just doing a little field work reconnaissance 260 00:18:29,280 --> 00:18:30,759 to help our investment case in Tender, 261 00:18:30,760 --> 00:18:33,199 among with some other equity ideas in the region. 262 00:18:33,200 --> 00:18:36,599 - We've been buy and hold for some time. - Yeah, you and everyone else. 263 00:18:36,600 --> 00:18:40,840 Although being a stock market darling, thank you, comes with its own challenges. 264 00:18:41,880 --> 00:18:44,039 I mean, I guess they must look after you, 265 00:18:44,040 --> 00:18:46,440 expecting you to put roots down so far away from home? 266 00:18:47,040 --> 00:18:48,520 Couldn't they have given the job to a local? 267 00:18:54,320 --> 00:18:57,079 Would you mind fleshing out your plan to migrate users 268 00:18:57,080 --> 00:18:59,800 from the payment processor acquisition suite to the new app? 269 00:19:03,640 --> 00:19:05,599 Actually, I would just love more granularity 270 00:19:05,600 --> 00:19:07,439 on your local acquisitions, 271 00:19:07,440 --> 00:19:11,040 'cause the diversity of them really piqued my interest. 272 00:19:11,640 --> 00:19:13,999 Payment processors, text-to-pay, prepaid cards. 273 00:19:14,000 --> 00:19:15,920 What's the unifying principle there? 274 00:19:18,040 --> 00:19:21,360 What other equity opportunities were you looking at in the region? 275 00:19:25,640 --> 00:19:28,800 You said you had other ideas that you were circling locally to invest in. 276 00:19:33,240 --> 00:19:34,320 Fan Milk. 277 00:19:35,440 --> 00:19:37,880 Consumer goods. MTN. 278 00:19:38,880 --> 00:19:41,040 Wow. That's dull. 279 00:19:43,200 --> 00:19:47,040 Defensive, transparent revenue streams. We don't like risk. 280 00:19:48,600 --> 00:19:52,119 Great. Well, if you want a tour or transport out of the city, 281 00:19:52,120 --> 00:19:55,680 - do let me know. There's much to see. - Thank you so much for your time. 282 00:19:57,600 --> 00:20:00,240 You know, you can just... You can call me... 283 00:20:01,280 --> 00:20:04,680 if you like. If you just feel like talking. 284 00:20:10,200 --> 00:20:12,399 I get the feeling nobody's asked him many questions. 285 00:20:12,400 --> 00:20:14,799 I reverse-image searched that novelty check pic 286 00:20:14,800 --> 00:20:17,879 and it links to an article about SwiftGC's acquisition. 287 00:20:17,880 --> 00:20:19,799 It's a curious detail about who did it. 288 00:20:19,800 --> 00:20:23,879 - A local boutique investment bank? - No, SwiftGC instructed a lawyer. 289 00:20:23,880 --> 00:20:27,039 Is that that curious? I assume that happens a lot here. 290 00:20:27,040 --> 00:20:28,719 Well, how curious it is 291 00:20:28,720 --> 00:20:30,359 depends on the size of the deal in question 292 00:20:30,360 --> 00:20:32,320 and the size of the legal operation, does it not? 293 00:20:33,280 --> 00:20:36,879 I've booked an appointment with the lawyer and told him that we work for MergerMarket 294 00:20:36,880 --> 00:20:39,720 and we're meeting anyone involved in M&A deals in the territory. 295 00:20:40,360 --> 00:20:41,440 Sorry... 296 00:20:42,320 --> 00:20:45,400 - Mr. Samuels, is it? - Call me Lawyer. 297 00:20:48,360 --> 00:20:50,320 My name is Lawyer. 298 00:20:51,240 --> 00:20:52,839 It's not uncommon here. 299 00:20:52,840 --> 00:20:57,279 Although I'm not sure how often that kind of nominative determinism works out. 300 00:20:57,280 --> 00:21:00,320 By example, I was christened "Dog-Fucker" Bannerman. 301 00:21:06,960 --> 00:21:10,119 May I ask how you divined SwiftGC's valuation? 302 00:21:10,120 --> 00:21:12,719 SwiftGC is a high-growth company. 303 00:21:12,720 --> 00:21:14,479 It's not uncommon for comparables 304 00:21:14,480 --> 00:21:17,759 to be valued at ten, even 20 times revenue. 305 00:21:17,760 --> 00:21:19,599 The mobile pay sector has boomed 306 00:21:19,600 --> 00:21:22,159 since the Bank of Ghana relaxed the regulatory environment. 307 00:21:22,160 --> 00:21:23,719 Do you have much other experience 308 00:21:23,720 --> 00:21:28,400 - in 50-million-dollar M&A deals? - I have an accountant. 309 00:21:29,440 --> 00:21:30,599 And, as I said, 310 00:21:30,600 --> 00:21:33,879 an expert valuation advisor I've worked with for 30 years. 311 00:21:33,880 --> 00:21:37,040 A regulatory advisor. A tax guy. 312 00:21:37,760 --> 00:21:40,999 - I could go on. - And how did the fee structure work? 313 00:21:41,000 --> 00:21:42,800 - Excuse me? - How were you paid? 314 00:21:46,320 --> 00:21:50,160 I have been nothing but polite. That is not a polite question. 315 00:21:51,040 --> 00:21:53,080 And how is it relevant to your database? 316 00:21:53,800 --> 00:21:55,759 You know, you didn't need to be rude to him 317 00:21:55,760 --> 00:21:57,519 just 'cause he straight-batted all your questions. 318 00:21:57,520 --> 00:22:00,679 Nothing about that guy and his operation was commensurate with the size of the deal 319 00:22:00,680 --> 00:22:01,959 that Tender did with SwiftGC. 320 00:22:01,960 --> 00:22:04,319 You're telling yourself that to bend the facts 321 00:22:04,320 --> 00:22:09,199 to what you want to be true, all right? I mean, he said it himself. It's Africa. 322 00:22:09,200 --> 00:22:10,959 Just 'cause it's different doesn't make it wrong. 323 00:22:10,960 --> 00:22:12,999 Let me put this as delicately as I fucking can. 324 00:22:13,000 --> 00:22:15,399 How much do you actually know about Africa? 325 00:22:15,400 --> 00:22:18,079 You can stop with this, like, prodigal son gimmick. 326 00:22:18,080 --> 00:22:22,320 - The answer's probably alcohol. - Original iPhone with iPhone charger. 327 00:22:24,000 --> 00:22:26,799 What, materially, changes in the world if at the bottom of the barrel, 328 00:22:26,800 --> 00:22:28,799 these guys are bent and we prove it? 329 00:22:28,800 --> 00:22:31,079 I mean, does the world improve? 330 00:22:31,080 --> 00:22:33,760 You know, being as glib as you are is actually charmless. 331 00:22:34,480 --> 00:22:37,399 You think it is charming, but it is charmless. 332 00:22:37,400 --> 00:22:40,839 I have given this my full fucking attention, 333 00:22:40,840 --> 00:22:44,359 and that is a finite resource. That is why the outcome matters. 334 00:22:44,360 --> 00:22:48,439 Who keeps drinking my drink? This is Guinness, not the blood of Jesus. 335 00:22:48,440 --> 00:22:51,119 I mean, yeah, yeah. I guess you're probably right. 336 00:22:51,120 --> 00:22:54,399 This is probably just like a big old fucking distraction 337 00:22:54,400 --> 00:22:57,199 - and like a fucking waste of my time. - Oh, come on. Don't say that. 338 00:22:57,200 --> 00:22:59,199 Look, I'm just saying we should probably tell someone 339 00:22:59,200 --> 00:23:02,679 if we're on the verge of eliminating all financial fraud in perpetuity 340 00:23:02,680 --> 00:23:05,759 and delivering equitable economic outcomes for all. 341 00:23:05,760 --> 00:23:07,239 Your turn! 342 00:23:07,240 --> 00:23:09,959 Well, between us, I need this short to work. 343 00:23:09,960 --> 00:23:13,480 Before I took Harper's offer, I interviewed at multiple places. 344 00:23:14,320 --> 00:23:17,760 I couldn't get a job. You can imagine why. 345 00:23:20,640 --> 00:23:22,679 Yeah, that was a tough thing to happen. 346 00:23:22,680 --> 00:23:23,960 Keep moving forward. 347 00:23:24,720 --> 00:23:27,679 Let the distance grow between me and the event, 348 00:23:27,680 --> 00:23:30,640 and just let time do the work. 349 00:23:31,920 --> 00:23:33,479 When I think of those 350 00:23:33,480 --> 00:23:38,880 pink-faced, fat-neck losers laughing at me... 351 00:23:39,880 --> 00:23:42,919 God, so much disrespect for your audience. 352 00:23:42,920 --> 00:23:44,600 You should run a movie studio. 353 00:23:45,200 --> 00:23:49,200 Well, the guy who outed me, he got his in a sort of roundabout way. 354 00:23:49,920 --> 00:23:51,160 "In a roundabout way"? 355 00:23:52,640 --> 00:23:55,240 Rishi? You know it was him? 356 00:23:56,880 --> 00:23:59,799 I think certain things in life make sense. 357 00:23:59,800 --> 00:24:03,200 And your stomach is probably right, separating theory and fact. 358 00:24:07,360 --> 00:24:08,400 Do your family know? 359 00:24:11,280 --> 00:24:12,640 What did they make of it? 360 00:24:16,000 --> 00:24:17,960 Well, I thought I was close to my mum. 361 00:24:20,080 --> 00:24:24,680 I was. I mean, I am. I am. Like, she's my confidante, you know? 362 00:24:25,600 --> 00:24:30,159 And then this happened, and she knows about it, 363 00:24:30,160 --> 00:24:34,240 and she just pretends like it didn't. 364 00:24:35,760 --> 00:24:37,919 And, like, I'm waiting and waiting 365 00:24:37,920 --> 00:24:39,919 for her to say something about it, and she just doesn't. 366 00:24:39,920 --> 00:24:43,240 And, like, yeah, that just, like, broke my heart. 367 00:24:46,840 --> 00:24:48,359 - Hey! - Come on! 368 00:24:48,360 --> 00:24:50,079 You said you'd come! Come pick the next song. 369 00:24:50,080 --> 00:24:52,439 All right, I'm gonna lay this shit on thick, okay? 370 00:24:52,440 --> 00:24:54,479 Make me a market on how many of these punters fuck off 371 00:24:54,480 --> 00:24:55,680 when I start singing. 372 00:24:56,280 --> 00:24:58,919 - Come and sing with us! - Come on! Hurry up! 373 00:24:58,920 --> 00:25:00,680 One second, one second, I'm coming. 374 00:25:03,880 --> 00:25:07,040 Come on and hold me 375 00:25:08,040 --> 00:25:10,760 Just like you told me... 376 00:25:15,760 --> 00:25:18,039 - Hello, Miss Golightly. - Hi. 377 00:25:18,040 --> 00:25:21,160 You're almost as memorable as your name. 378 00:25:22,320 --> 00:25:26,680 Tell me, are you a compulsive liar, or was this a one-off? 379 00:25:27,200 --> 00:25:29,120 - Into the night - Into the night 380 00:25:30,960 --> 00:25:32,920 - I know it ain't right - I know it ain't right 381 00:25:33,600 --> 00:25:34,959 Why did you lie? 382 00:25:34,960 --> 00:25:40,079 I looked you up on the FCA register and then I called your former employer. 383 00:25:40,080 --> 00:25:42,879 A man in your position must know that there is a vocal minority 384 00:25:42,880 --> 00:25:45,479 who believe Tender's share price to be an illusion. 385 00:25:45,480 --> 00:25:49,200 I don't know if you're aware of the growing speculation in the press. 386 00:25:50,880 --> 00:25:52,880 You mean Jim Dycker at FinDigest? 387 00:25:54,240 --> 00:25:57,960 He Telegrammed me. Yeah, he was... Yeah, he was supposed to visit us. 388 00:26:05,240 --> 00:26:07,999 To get you on the record? 389 00:26:08,000 --> 00:26:11,200 Well, how should I know his intention if he never followed through? 390 00:26:13,040 --> 00:26:16,000 Were you in contact with his editor, Mr. Burgess? 391 00:26:16,480 --> 00:26:21,760 Dycker mentioned that he could sketch out a couple of... 392 00:26:23,200 --> 00:26:24,280 pathways... 393 00:26:25,280 --> 00:26:26,359 for me. 394 00:26:26,360 --> 00:26:30,880 - Would you know about those? - Pathways for what? 395 00:26:37,240 --> 00:26:41,240 Well, how should I know, Miss Golightly? I never met him. 396 00:26:44,680 --> 00:26:46,240 You know that he passed away? 397 00:26:48,160 --> 00:26:49,440 Wasn't aware. 398 00:26:57,960 --> 00:27:01,240 - Where are you now? - Auntie Freda's in Osu. 399 00:27:02,440 --> 00:27:04,959 If you don't want to talk on the phone. 400 00:27:04,960 --> 00:27:06,999 It's not a violent city, 401 00:27:07,000 --> 00:27:10,040 but the beach can get quite dangerous at night. 402 00:27:26,560 --> 00:27:30,320 Now I close my eyes 403 00:27:30,560 --> 00:27:36,120 And I wonder why I don't despise 404 00:27:37,600 --> 00:27:42,799 Eyes without a face, got no human grace 405 00:27:42,800 --> 00:27:45,800 Your eyes without a face 406 00:27:56,960 --> 00:27:58,960 Sorry, this is the ladies. 407 00:28:02,800 --> 00:28:05,520 Did you not hear me? This is the fucking ladies! 408 00:28:59,840 --> 00:29:04,679 Got no human grace Your eyes without a face 409 00:29:04,680 --> 00:29:06,759 Face, face, face... 410 00:29:06,760 --> 00:29:08,360 Oh, shit! 411 00:29:09,480 --> 00:29:11,639 Do you think you were, like, targeted? 412 00:29:11,640 --> 00:29:15,159 Tony Day called me before it, so you fucking tell me! 413 00:29:15,160 --> 00:29:17,040 - Slow down. - Fuck! 414 00:29:17,520 --> 00:29:22,599 I'm so fucking jacked up right now. I'm gonna-- I will go to fucking war. 415 00:29:22,600 --> 00:29:25,920 I will run a fucking train on them. 416 00:29:28,160 --> 00:29:29,880 Are you sure it's not broken? 417 00:29:32,040 --> 00:29:35,479 - I love my nose. - No, no, I know. I know. 418 00:29:35,480 --> 00:29:37,760 I know. It's a good nose. It's a really good nose. 419 00:29:39,400 --> 00:29:41,679 Let's drink beer and make some bad choices. 420 00:29:41,680 --> 00:29:42,760 Thank you. 421 00:29:50,720 --> 00:29:53,880 Can you stop fucking around and just admit that you've seen my tits? 422 00:29:58,360 --> 00:30:00,760 Okay, cool. Fine. Yes. Fuck it. Yes, I saw it. 423 00:30:01,680 --> 00:30:03,999 - Did you like it? - Oh, my-- Sweetpea, what are we doing? 424 00:30:04,000 --> 00:30:05,360 Well, did you like it? 425 00:30:06,040 --> 00:30:10,760 - I don't know what the right answer is. - Honesty. Honesty. 426 00:30:12,440 --> 00:30:16,760 Okay, well, I mean, I didn't not like it. 427 00:30:19,880 --> 00:30:21,280 Is Harper a good fuck? 428 00:30:21,800 --> 00:30:24,279 Why? 'Cause crazy girls are good in bed? 429 00:30:24,280 --> 00:30:26,879 I think that that is reductive, and misogynistic, 430 00:30:26,880 --> 00:30:29,159 - and often true. - Yeah. Oh, no, I agree. 431 00:30:29,160 --> 00:30:30,880 I was just, like, projecting what you think. 432 00:30:31,880 --> 00:30:35,359 - Did you wank to my Siren videos? - Oh, fucking hell, man. What? 433 00:30:35,360 --> 00:30:38,399 Did you jerk off to it? Are you a porn addict? 434 00:30:38,400 --> 00:30:41,199 A porn add-- I mean... I guess? 435 00:30:41,200 --> 00:30:43,119 Like most men who grew up with the internet. 436 00:30:43,120 --> 00:30:47,880 Like, I can see whoever do whatever to whoever, whenever. 437 00:30:50,880 --> 00:30:52,879 I want to build a picture of the men who've seen me. 438 00:30:52,880 --> 00:30:54,880 Sweetpea, you chose to put it online. 439 00:30:55,400 --> 00:30:58,360 I was fucking 19. It's money. 440 00:31:02,080 --> 00:31:03,080 Do you watch porn? 441 00:31:05,080 --> 00:31:08,079 Like a lot of women who grew up on the internet, yeah. 442 00:31:08,080 --> 00:31:09,719 What'd you make of that bird who got tag-teamed 443 00:31:09,720 --> 00:31:12,679 - by 1,000 yoots in shiesties? - Yeah. More power to her. 444 00:31:12,680 --> 00:31:14,679 Oh, come on, you don't believe that shit. 445 00:31:14,680 --> 00:31:17,319 Oh, fuck pathologizing it, you know? Fuck Freud. 446 00:31:17,320 --> 00:31:20,999 - There doesn't always have to be a why. - Yeah, that shit's bad for the soul. 447 00:31:21,000 --> 00:31:23,720 And good for the body. What do you like? 448 00:31:24,880 --> 00:31:27,159 Now, that is a question nobody gets an honest answer to. 449 00:31:27,160 --> 00:31:29,560 I said what do you like? 450 00:31:33,720 --> 00:31:35,440 Okay. You made me say this. 451 00:31:38,160 --> 00:31:42,680 Oh, fuck it, I feel like such a traitor. Forgive me, Dr. Umar. 452 00:31:43,400 --> 00:31:45,080 I like... 453 00:31:47,480 --> 00:31:49,560 premium calcium. 454 00:31:53,160 --> 00:31:55,400 Small, blonde, white women. 455 00:31:56,560 --> 00:31:59,840 Yeah, I know. I know, I'm a cliché. Look, sue me. 456 00:32:00,360 --> 00:32:04,400 Okay, but I also like to be held. 457 00:32:06,440 --> 00:32:08,720 You're a fucking corny cunt. Do you know that? 458 00:32:10,640 --> 00:32:12,440 But yeah, I guess... 459 00:32:14,120 --> 00:32:16,880 some things are only attractive because you can't have them. 460 00:32:32,000 --> 00:32:34,280 Do you wanna put the key in the... 461 00:32:35,960 --> 00:32:37,000 light? 462 00:32:40,120 --> 00:32:41,240 Actually... 463 00:32:46,280 --> 00:32:47,320 don't. 464 00:32:48,320 --> 00:32:49,760 Can you stay for a bit? 465 00:32:50,680 --> 00:32:53,360 I'll be just next door. 466 00:32:54,840 --> 00:32:56,480 Just shut the fucking door. 467 00:33:00,440 --> 00:33:01,680 Pull my fucking hair. 468 00:33:02,960 --> 00:33:05,320 Oh, fuck. Harder. 469 00:33:07,800 --> 00:33:09,000 Fuck! 470 00:33:24,160 --> 00:33:25,280 Oh, my God. 471 00:33:46,320 --> 00:33:50,120 Oh, shit. I... I didn't realize you were here already. 472 00:33:51,080 --> 00:33:52,600 Any update from Accra? 473 00:33:53,400 --> 00:33:56,720 Kwabena didn't sound optimistic. Then they both went dark. 474 00:33:57,520 --> 00:33:59,240 I feel like we're running out of time. 475 00:34:01,800 --> 00:34:02,840 I have an idea. 476 00:34:04,560 --> 00:34:07,039 Source more margin from another prime broker. 477 00:34:07,040 --> 00:34:10,399 Can't do that in our precarious state. 478 00:34:10,400 --> 00:34:13,919 Okay, but what if we don't tell them about our state? 479 00:34:13,920 --> 00:34:15,919 Our financials. Our exposure. 480 00:34:15,920 --> 00:34:18,959 We'll just tell them that we fell out with our prime broker, 481 00:34:18,960 --> 00:34:22,000 that they missed out on a buzzy fund. Whatever it takes to... 482 00:34:23,160 --> 00:34:24,319 get some fast cash. 483 00:34:24,320 --> 00:34:26,319 They'll ask for documents. 484 00:34:26,320 --> 00:34:29,480 And we'll give them documents that read the way they wish them to. 485 00:34:31,760 --> 00:34:33,480 Bogus financials? 486 00:34:36,400 --> 00:34:41,319 What happens if Tender continues to defy gravity? 487 00:34:41,320 --> 00:34:47,280 We're double leveraged. What, we get two margin calls? 488 00:34:47,760 --> 00:34:51,199 And open another ersatz fucking line? 489 00:34:51,200 --> 00:34:53,559 Throw a third in for shits and giggles. 490 00:34:53,560 --> 00:34:55,560 That's not us losing the house, you know? 491 00:34:56,080 --> 00:34:59,639 It's fraud, conspiracy, racketeering. 492 00:34:59,640 --> 00:35:01,079 Why are we holding ourselves 493 00:35:01,080 --> 00:35:03,639 to any ethical standard when they have none? 494 00:35:03,640 --> 00:35:07,959 Why would we invite potential prosecution when nothing has materially changed 495 00:35:07,960 --> 00:35:09,959 on what we can prove on Tender? It's brainless. 496 00:35:09,960 --> 00:35:12,199 We're going to lose the war 497 00:35:12,200 --> 00:35:15,079 because they are willing to fight dirty and we're not. 498 00:35:15,080 --> 00:35:16,120 Harper. 499 00:35:17,440 --> 00:35:18,800 The thing's lost. 500 00:35:22,440 --> 00:35:25,160 As your co-partner... 501 00:35:26,480 --> 00:35:32,880 my position is we liquidate our Tender position 502 00:35:33,680 --> 00:35:40,480 and find the least painful way of boarding this whole thing up. 503 00:35:57,080 --> 00:35:58,080 They're for your face. 504 00:36:01,000 --> 00:36:03,720 Let's just forget that this happened, okay? 505 00:36:05,000 --> 00:36:06,080 What happened? 506 00:36:08,400 --> 00:36:09,600 I was fucked up. 507 00:36:11,360 --> 00:36:12,800 So, you do always need a why. 508 00:36:15,320 --> 00:36:17,399 Okay, so look, I'll be the first to admit, 509 00:36:17,400 --> 00:36:19,439 I didn't really come here with a whole lot of belief 510 00:36:19,440 --> 00:36:20,959 in it solving the trade's problem, 511 00:36:20,960 --> 00:36:23,959 but while you were sleeping, I did a bit more digging. Okay? 512 00:36:23,960 --> 00:36:27,719 Apparently, Tender acquired SwiftGC from GoldSalt Media. 513 00:36:27,720 --> 00:36:29,599 It was a tiny subsidiary in a suite of companies 514 00:36:29,600 --> 00:36:31,840 - owned by a media conglomerate. - I knew that. 515 00:36:32,640 --> 00:36:36,199 Okay, well, GoldSalt Media's chairman died recently, 516 00:36:36,200 --> 00:36:39,280 and his scions are jockeying to cut up his financial corpse. 517 00:36:39,920 --> 00:36:41,160 Murdochs in Kente. 518 00:36:42,560 --> 00:36:44,200 God, how long have you been up? 519 00:36:46,600 --> 00:36:47,999 So, what's the point? 520 00:36:48,000 --> 00:36:49,999 Well, the British sought to civilize the Gold Coast. 521 00:36:50,000 --> 00:36:52,599 They didn't think enslavement was enough to bring us closer to God. 522 00:36:52,600 --> 00:36:55,399 They also saw fit to import buggery and emotional retardation. 523 00:36:55,400 --> 00:36:57,320 - Sorry, what? - Boarding schools. 524 00:36:57,800 --> 00:37:00,399 Okay, so my auntie, who's not really my auntie but, you know, 525 00:37:00,400 --> 00:37:03,319 she went to Achimota with a certain Mrs. Mensah. 526 00:37:03,320 --> 00:37:06,079 Now, Mrs. Mensah is mourning her father's death. 527 00:37:06,080 --> 00:37:09,559 And her father just so happens to be the erstwhile chairman 528 00:37:09,560 --> 00:37:11,280 of GoldSalt Media. 529 00:37:12,920 --> 00:37:15,480 Yeah. Ghana's very small at the top. 530 00:37:16,600 --> 00:37:19,399 Can you flesh out your connection to SwiftGC for me? 531 00:37:19,400 --> 00:37:22,280 Eight of us squabbling over his legacy. 532 00:37:22,840 --> 00:37:24,879 I say it's not big enough to warrant a dispute. 533 00:37:24,880 --> 00:37:27,279 SwiftGC was a chunky deal, right? 534 00:37:27,280 --> 00:37:30,359 Yes. But it's more of a real estate dispute. 535 00:37:30,360 --> 00:37:32,120 The land the office is on. 536 00:37:32,920 --> 00:37:36,760 But Tender paid 50 million dollars for SwiftGC, right? 537 00:37:37,360 --> 00:37:38,480 What? 538 00:37:47,880 --> 00:37:52,919 If we had 50 million dollars, it would be a total bloodbath. 539 00:37:52,920 --> 00:37:55,639 But the check says 50 million dollars, does it not? 540 00:37:55,640 --> 00:37:58,519 You can write whatever nonsense you want on them. 541 00:37:58,520 --> 00:37:59,520 Doesn't mean it's true. 542 00:38:00,160 --> 00:38:04,319 Fifty? For a tiny company? Lord have mercy. 543 00:38:04,320 --> 00:38:07,319 Thank you so much for the tea. Can we see the business? 544 00:38:07,320 --> 00:38:09,520 It's only listed as a PO box online. 545 00:38:46,560 --> 00:38:49,120 - Look. - Fifth floor. 546 00:38:51,800 --> 00:38:53,120 Why are we whispering? 547 00:39:26,480 --> 00:39:27,520 Who are you? 548 00:39:28,840 --> 00:39:32,040 Sorry, we're just looking. Do you know of Tender? 549 00:39:33,080 --> 00:39:34,080 Tender? 550 00:39:35,080 --> 00:39:36,600 Do you know Tender? 551 00:39:40,000 --> 00:39:41,080 Tender? 552 00:39:42,760 --> 00:39:46,199 Who hired you, SwiftGC? Tender? Why are you here? 553 00:39:46,200 --> 00:39:49,760 - Squatters. - Squatters. 554 00:40:11,920 --> 00:40:14,639 Hello, you've reached Tender. 555 00:40:14,640 --> 00:40:16,800 - Your call is important to us... - What are we looking at? 556 00:40:20,960 --> 00:40:22,000 A facade. 557 00:40:25,560 --> 00:40:27,999 Say we prove Tender isn't what it says it is. 558 00:40:28,000 --> 00:40:30,479 We get the surrogate joy of saying, 559 00:40:30,480 --> 00:40:33,560 "Your identity is bullshit, you're a fake." And what? 560 00:40:34,360 --> 00:40:39,679 We temporarily get to live in the illusion 561 00:40:39,680 --> 00:40:43,439 that we ourselves are built on firmer ground? 562 00:40:43,440 --> 00:40:46,159 Well, crucially, we're not lying to the world 563 00:40:46,160 --> 00:40:47,520 to profit off it. 564 00:40:49,840 --> 00:40:52,279 That feels much closer to the truth of my life 565 00:40:52,280 --> 00:40:55,320 than anything else I've said to myself. 566 00:41:08,520 --> 00:41:09,879 Sweetpea? 567 00:41:09,880 --> 00:41:11,519 - The thing is nothing! - What? 568 00:41:11,520 --> 00:41:13,439 - Put me on speaker. - You are. Go. 569 00:41:13,440 --> 00:41:16,319 - The thing is nothing. - Okay. All right. Can you explain? 570 00:41:16,320 --> 00:41:18,439 Dycker's payment laundry thesis suggested 571 00:41:18,440 --> 00:41:20,919 that Tender's high frequency of acquisitions 572 00:41:20,920 --> 00:41:23,919 was to circumvent local decency and gambling laws, right? 573 00:41:23,920 --> 00:41:26,640 But what if something else was motivating their indiscriminate spending? 574 00:41:27,240 --> 00:41:29,199 Let's say you claim to be a fast-growing, 575 00:41:29,200 --> 00:41:32,359 highly revenue-generative company, but it is only a claim. 576 00:41:32,360 --> 00:41:35,079 Fake profits leads to fake cash, so what do you have to do? 577 00:41:35,080 --> 00:41:36,919 You have to deploy said fake cash. 578 00:41:36,920 --> 00:41:38,999 Why? Because the cash reserves are the first thing 579 00:41:39,000 --> 00:41:40,599 that an auditor looks at. 580 00:41:40,600 --> 00:41:42,919 But how do you account for the cash balance not being there? 581 00:41:42,920 --> 00:41:44,719 You say, "Oh, I've already spent it." 582 00:41:44,720 --> 00:41:47,359 But Tender are lying about the value of what they're buying out here 583 00:41:47,360 --> 00:41:50,839 because juicing it up fuels the facade of aggressive growth 584 00:41:50,840 --> 00:41:53,399 - and then deploys said fake cash. - It's a Potemkin village-- 585 00:41:53,400 --> 00:41:56,039 They paid 50 million dollars for an empty room. 586 00:41:56,040 --> 00:41:57,679 Why? Because they didn't. 587 00:41:57,680 --> 00:42:01,559 SwiftGC has no users, there is no revenue, and there is no 50 million dollars. 588 00:42:01,560 --> 00:42:03,759 That's what their book says, but it's cosmetic. 589 00:42:03,760 --> 00:42:06,319 They probably paid three cents on the dollar, if that, 590 00:42:06,320 --> 00:42:08,679 and then knocked it back with bribes at local level 591 00:42:08,680 --> 00:42:10,759 to make it look like many multiples more. 592 00:42:10,760 --> 00:42:13,079 Photo ops, novelty checks, it's all surface. 593 00:42:13,080 --> 00:42:14,720 The cash can never sit still. 594 00:42:15,200 --> 00:42:16,599 It doesn't even need to be real 595 00:42:16,600 --> 00:42:19,199 if it's hotfooting from one acquisition to another. 596 00:42:19,200 --> 00:42:20,879 Always too short a stay to be seen. 597 00:42:20,880 --> 00:42:23,079 They can always point to its next destination. 598 00:42:23,080 --> 00:42:24,839 Correct. The opaque structures, 599 00:42:24,840 --> 00:42:28,119 the complex web of subsidiaries, the Africa of it. 600 00:42:28,120 --> 00:42:29,279 They're probably so brazen, 601 00:42:29,280 --> 00:42:31,279 they think people are too lazy to do the footwork 602 00:42:31,280 --> 00:42:33,759 - to actually knock on the door. - Well, guess what? 603 00:42:33,760 --> 00:42:35,399 I knocked on the fucking door, bitch. 604 00:42:35,400 --> 00:42:39,639 Each stage of Tender's pre-pivot is all overinflated. 605 00:42:39,640 --> 00:42:41,679 Each lie relies on the next. 606 00:42:41,680 --> 00:42:45,159 Fake users drives fake revenue, which drives fake cash, 607 00:42:45,160 --> 00:42:47,559 which then must be deployed on acquisitions, 608 00:42:47,560 --> 00:42:49,279 which accounts for more fake users 609 00:42:49,280 --> 00:42:51,239 - and more fake revenue. - It's an Ouroboros. 610 00:42:51,240 --> 00:42:56,319 Sure, whatever the fuck that is. It is a feedback loop of fakery. 611 00:42:56,320 --> 00:42:58,439 That is why their profits never suffered 612 00:42:58,440 --> 00:43:00,479 after the U.S. gambling legislation came in, 613 00:43:00,480 --> 00:43:02,239 and why Whitney could cull Siren 614 00:43:02,240 --> 00:43:04,279 without a second's thought about the bottom line. 615 00:43:04,280 --> 00:43:06,319 Tender started as a payment processor. 616 00:43:06,320 --> 00:43:08,039 Yeah, and it became a bank to hide the fact 617 00:43:08,040 --> 00:43:09,999 that it was never a successful payment processor. 618 00:43:10,000 --> 00:43:11,159 It was a phantom. 619 00:43:11,160 --> 00:43:14,120 The thing was nothing. 620 00:43:14,760 --> 00:43:18,639 - So, we can corroborate this? - Did you get photos of SwiftGC? 621 00:43:18,640 --> 00:43:19,839 Yes. Yes, we did. 622 00:43:19,840 --> 00:43:20,999 And Dycker's source is here 623 00:43:21,000 --> 00:43:22,679 and I think that we can make him the motherlode. 624 00:43:22,680 --> 00:43:25,279 - He wants to whistleblow? - He wants some pathways 625 00:43:25,280 --> 00:43:27,079 to understanding what that might look like. 626 00:43:27,080 --> 00:43:31,519 - Un-fucking-believable work, Sweetpea. - Yeah, I quite agree. 627 00:43:31,520 --> 00:43:33,240 Keep us bang up to date. 628 00:43:41,480 --> 00:43:43,239 Okay. How do we present this? 629 00:43:43,240 --> 00:43:46,479 And how fast and wide can we disseminate it? 630 00:43:46,480 --> 00:43:48,999 We don't have irrefutable evidence. We need the informer. 631 00:43:49,000 --> 00:43:53,720 We don't need the world to believe us, just enough investors with enough capital. 632 00:43:55,760 --> 00:43:58,879 What if I go to Pierre's conference 633 00:43:58,880 --> 00:44:00,519 and instead of talking about women in finance, 634 00:44:00,520 --> 00:44:03,440 I talk about something else entirely? We don't need proof. 635 00:44:03,960 --> 00:44:05,119 Why? 636 00:44:05,120 --> 00:44:07,600 Because we finally have a compelling story to tell. 637 00:44:13,080 --> 00:44:15,919 - Burgess. - Mr. Burgess. Hi. I'm Sweetpea Golightly. 638 00:44:15,920 --> 00:44:17,079 You're what? 639 00:44:17,080 --> 00:44:18,919 I'm very sorry for the loss of your colleague. 640 00:44:18,920 --> 00:44:21,279 I work for an investigative hedge fund. SternTao. 641 00:44:21,280 --> 00:44:24,119 Yeah, I've heard of you, unfortunately. 642 00:44:24,120 --> 00:44:27,719 I've opened a potential line of communication with Jim Dycker's source 643 00:44:27,720 --> 00:44:29,479 here in Accra who he'd planned to meet. 644 00:44:29,480 --> 00:44:31,719 Yeah, before Tender muzzled us. 645 00:44:31,720 --> 00:44:34,839 Are there any protections that you can offer him as a public body? 646 00:44:34,840 --> 00:44:36,879 I mean, there was a whistleblower directive, 647 00:44:36,880 --> 00:44:38,719 but we're not covered by that anymore 648 00:44:38,720 --> 00:44:41,559 because doombrain mugs falsely incentivized 649 00:44:41,560 --> 00:44:44,159 other doombrain mugs to vote us out of Europe. 650 00:44:44,160 --> 00:44:46,079 What else can incentivize him? 651 00:44:46,080 --> 00:44:48,719 Well, I mean, what vectors can you hit him on? 652 00:44:48,720 --> 00:44:49,799 "Doing the right thing"? 653 00:44:49,800 --> 00:44:51,679 I mean, that's largely bullshit to human ears. 654 00:44:51,680 --> 00:44:54,519 Relief from the burden of the lie, 655 00:44:54,520 --> 00:44:57,599 relief from threat from other perpetrators of the lie. 656 00:44:57,600 --> 00:44:58,959 Relief from prosecution? 657 00:44:58,960 --> 00:45:00,799 I say this with respect, 658 00:45:00,800 --> 00:45:03,119 but these sources tend to be incredibly sensitive 659 00:45:03,120 --> 00:45:05,279 given what's on the line, yeah? 660 00:45:05,280 --> 00:45:10,159 They require a special bond, trust established through time. 661 00:45:10,160 --> 00:45:12,199 It's a gentle, protracted process. 662 00:45:12,200 --> 00:45:16,559 It's not best led by a person who stands to be financially compensated 663 00:45:16,560 --> 00:45:18,680 if the source decides to talk. 664 00:45:19,200 --> 00:45:21,120 - Ms. Golightly? - I'm here. 665 00:45:21,960 --> 00:45:24,400 You think Jim was right about these guys? 666 00:45:26,560 --> 00:45:29,760 He was more right than he knew. Speak soon. 667 00:45:32,960 --> 00:45:33,960 So? 668 00:45:35,400 --> 00:45:36,600 How do we play it? 669 00:45:37,960 --> 00:45:39,120 We snooker him. 670 00:45:45,520 --> 00:45:47,079 I'll call you back. 671 00:45:47,080 --> 00:45:51,519 So under-qualified and so overpaid. And that was the lure, right? 672 00:45:51,520 --> 00:45:54,680 It was too good to be true because actually it wasn't fucking true. 673 00:45:56,320 --> 00:45:59,199 - Shut the fuck up. - And now the hook is in your gut 674 00:45:59,200 --> 00:46:02,719 and you have two outsiders walking into your office saying we know. 675 00:46:02,720 --> 00:46:04,119 Well, I'm not on the hook for anything. 676 00:46:04,120 --> 00:46:05,799 Because at close yesterday my Tender equity 677 00:46:05,800 --> 00:46:07,959 - was worth 80 million dollars. - At what point did this start? 678 00:46:07,960 --> 00:46:09,799 Did this start with juicing the user numbers 679 00:46:09,800 --> 00:46:11,599 for the funding round, or was it the IPO? 680 00:46:11,600 --> 00:46:13,440 You know, how many people are complicit in this? 681 00:46:13,920 --> 00:46:18,159 God, it must have been exhausting to live with that compounding growth. 682 00:46:18,160 --> 00:46:19,959 Each fat lie relying on the next. 683 00:46:19,960 --> 00:46:22,479 I mean, I don't think there's a more tired man on Earth right now. 684 00:46:22,480 --> 00:46:24,479 Yeah, and you're the second most tired man at Tender. 685 00:46:24,480 --> 00:46:25,960 Has Halberstram ever threatened you? 686 00:46:26,640 --> 00:46:27,760 No. 687 00:46:28,480 --> 00:46:30,279 Pay enough people to follow top-down orders 688 00:46:30,280 --> 00:46:32,039 and then pay them some more to look the other way. 689 00:46:32,040 --> 00:46:35,679 I bet these people here don't even think of themselves as accessories. 690 00:46:35,680 --> 00:46:37,599 In the room, the Africans exchange the bribes 691 00:46:37,600 --> 00:46:39,240 while the white men talk. 692 00:46:39,840 --> 00:46:42,519 Was every acquisition as empty as SwiftGC? 693 00:46:42,520 --> 00:46:44,999 Tony, you assume that someone is listening to you, 694 00:46:45,000 --> 00:46:48,800 and watching you. If it's not Halberstram, who? 695 00:46:49,520 --> 00:46:50,680 Assume? 696 00:46:53,960 --> 00:46:55,080 You know? 697 00:46:56,440 --> 00:47:02,679 I want to know exactly how I am able to minimize my liability 698 00:47:02,680 --> 00:47:05,160 before I make any kind of disclosure. 699 00:47:06,000 --> 00:47:09,959 And I want counsel before any of that. 700 00:47:09,960 --> 00:47:13,280 Okay, we'll fly you to London, buy you a ticket, no trail to you. 701 00:47:13,760 --> 00:47:15,639 Introduce you to Edward Burgess, 702 00:47:15,640 --> 00:47:18,280 formalize a path of protection through FinDigest. 703 00:47:18,880 --> 00:47:20,680 Yeah, but what have you got without me? 704 00:47:21,360 --> 00:47:23,239 The board, the government, the auditors, the investors, 705 00:47:23,240 --> 00:47:25,559 the research analysts, they've got no incentive to believe you, 706 00:47:25,560 --> 00:47:29,079 so they won't. They'll all say more conjecture that you guys, 707 00:47:29,080 --> 00:47:30,839 you're paid to believe is fact. 708 00:47:30,840 --> 00:47:33,920 Do you wanna answer to us, or do you wanna answer to law enforcement? 709 00:47:34,640 --> 00:47:35,759 Do you ever get the feeling 710 00:47:35,760 --> 00:47:38,119 you're a little bit above your fucking station here? 711 00:47:38,120 --> 00:47:42,759 Never in my fucking life, sir. You fancy paying for my nose job too? 712 00:47:42,760 --> 00:47:46,280 'Cause we can add actual bodily harm to your list of charges. 713 00:47:48,000 --> 00:47:49,479 It's not something that happens overnight. 714 00:47:49,480 --> 00:47:52,679 No, this is your window to potentially being exculpated. 715 00:47:52,680 --> 00:47:54,879 You're salivating over the speed of it all, aren't you? 716 00:47:54,880 --> 00:47:56,119 Who actually... Genuinely, 717 00:47:56,120 --> 00:47:59,080 who fucking cares what incentivizes the truth? 718 00:47:59,880 --> 00:48:02,999 You can be a victim in this, not a perpetrator. 719 00:48:03,000 --> 00:48:05,279 If you wanna be punished like a perpetrator, 720 00:48:05,280 --> 00:48:07,119 that is fine with me. 721 00:48:07,120 --> 00:48:08,919 Or we can engineer your flight 722 00:48:08,920 --> 00:48:11,159 and start telling the story of your victimization. 723 00:48:11,160 --> 00:48:12,480 This is your choice. 724 00:48:34,480 --> 00:48:35,520 I'll consider. 725 00:48:37,000 --> 00:48:38,120 Thanks for coming in. 726 00:48:59,560 --> 00:49:01,280 She's hollowed out. 727 00:49:02,280 --> 00:49:06,000 I'm not sure what lesson we can teach her she hasn't learned from it already. 728 00:49:06,560 --> 00:49:07,880 Mind if she stays over? 729 00:49:08,640 --> 00:49:09,920 She's exhausted. 730 00:49:11,640 --> 00:49:14,120 Why don't you stay too? You must be beat. 731 00:49:15,680 --> 00:49:16,799 Stay. 732 00:49:16,800 --> 00:49:18,600 - You sure? - Of course. 733 00:49:19,120 --> 00:49:21,840 - Take the bed with her. - Okay. 734 00:49:27,760 --> 00:49:33,240 I just wanted to say don't mistake regret for love. 735 00:49:33,840 --> 00:49:34,920 The girls won't. 736 00:50:40,440 --> 00:50:41,720 Hey, it's me. 737 00:50:47,120 --> 00:50:48,840 You always have a room here? 738 00:50:49,760 --> 00:50:50,840 On standby. 739 00:50:59,560 --> 00:51:00,560 Hey. 740 00:51:02,320 --> 00:51:03,880 Make me feel big. 741 00:51:04,440 --> 00:51:05,520 Yes, Daddy. 742 00:51:44,160 --> 00:51:46,040 - Oh, my God. - Sorry. 743 00:51:46,600 --> 00:51:49,520 Oh, God, it's much worse than he said it is. 744 00:51:50,120 --> 00:51:52,279 Sorry, I know you said you didn't wanna see anyone, 745 00:51:52,280 --> 00:51:53,920 but I just had to check in. 746 00:51:54,520 --> 00:51:55,560 Sorry. 747 00:51:57,320 --> 00:51:59,200 I haven't heard from Tony Day yet. 748 00:51:59,920 --> 00:52:02,640 I'm just amped up, you know? Like I can't... 749 00:52:03,760 --> 00:52:07,079 take myself off the ceiling. Didn't sleep for the whole plane journey. 750 00:52:07,080 --> 00:52:10,320 Don't worry, I'm gonna present our findings at Pierre's conference. 751 00:52:11,240 --> 00:52:13,119 Even if we had the actual smoking gun 752 00:52:13,120 --> 00:52:14,639 they would say that we manufactured the gun 753 00:52:14,640 --> 00:52:16,199 and conjured the fucking smoke. 754 00:52:16,200 --> 00:52:18,360 - Yeah, they'll just call bullshit again. - Let them. 755 00:52:19,360 --> 00:52:21,280 I'm gonna lay it out brick by brick. 756 00:52:21,880 --> 00:52:23,320 It will be undeniable. 757 00:52:25,440 --> 00:52:28,879 I'm so, so sorry that I let this happen to you. 758 00:52:28,880 --> 00:52:31,880 - It is my responsibility. - No, you didn't. 759 00:52:33,640 --> 00:52:35,720 Don't take this away from me. 760 00:52:37,360 --> 00:52:38,759 Look, I work for you, you know, 761 00:52:38,760 --> 00:52:41,759 you don't have to act out this like pastoral compassion. 762 00:52:41,760 --> 00:52:45,239 And I wanna be paid. Do we understand each other? 763 00:52:45,240 --> 00:52:47,680 Y... Yeah. 764 00:52:48,600 --> 00:52:52,520 And look, I'll tell you this now in case he tells you it himself, but... 765 00:52:55,440 --> 00:52:57,919 Kwabena and I, we hooked up. And I don't know, 766 00:52:57,920 --> 00:53:01,239 I mean, I assumed it was casual between you both. 767 00:53:01,240 --> 00:53:03,200 I don't know. 768 00:53:04,320 --> 00:53:06,959 I just feel like transgressions are best dealt with head-on, 769 00:53:06,960 --> 00:53:08,639 you know, so they don't fester. 770 00:53:08,640 --> 00:53:09,680 No, no. It... 771 00:53:15,440 --> 00:53:16,680 It was casual. 772 00:53:18,640 --> 00:53:19,680 Good. 773 00:53:20,880 --> 00:53:22,920 I really appreciate your honesty. 774 00:53:25,880 --> 00:53:29,320 Okay, well, can I come inside, just keep you company? 775 00:53:31,840 --> 00:53:33,440 I'm really fucking tired. 776 00:54:15,200 --> 00:54:16,240 Good flight? 777 00:54:18,400 --> 00:54:19,840 I just checked in Eric's room. 778 00:54:20,440 --> 00:54:22,680 His wife and kid are asleep in there. 779 00:54:23,520 --> 00:54:25,960 This whole setup needs a rethink. 780 00:54:26,520 --> 00:54:28,880 - Where is Eric? - Who knows? 781 00:54:31,280 --> 00:54:32,560 How was Sweetpea? 782 00:54:33,880 --> 00:54:36,680 She was a dog with a bone. 783 00:54:37,280 --> 00:54:39,760 - Really? - Tenacious. 784 00:54:40,520 --> 00:54:42,479 You know, it's really admirable how she's recovered 785 00:54:42,480 --> 00:54:44,080 from all that shit she went through. 786 00:54:46,400 --> 00:54:47,440 You okay? 787 00:54:48,680 --> 00:54:49,760 Fine. 788 00:54:51,480 --> 00:54:53,240 More than fine. We are... 789 00:54:54,560 --> 00:54:55,880 very close. 790 00:54:56,720 --> 00:54:57,760 Close? 791 00:54:58,600 --> 00:54:59,679 Us? 792 00:54:59,680 --> 00:55:03,920 To floodlighting the whole fucking underside. 793 00:55:05,800 --> 00:55:09,839 Well, I spend so much time listening to my higher brain 794 00:55:09,840 --> 00:55:11,600 and its love of complexity and... 795 00:55:12,680 --> 00:55:15,080 all along your gut's telling you what's truly right. 796 00:55:16,080 --> 00:55:17,080 Yeah. 797 00:55:18,480 --> 00:55:20,200 Trust your gut, I guess. 798 00:55:24,920 --> 00:55:27,720 Don't ever fucking liquidate my positions again. 799 00:55:28,840 --> 00:55:30,320 Okay? I'm not some boy. 800 00:55:31,840 --> 00:55:34,720 Okay, we fuck each other, but not like that. 801 00:55:36,760 --> 00:55:37,840 Is that clear? 802 00:55:41,960 --> 00:55:42,960 Crystal. 803 00:55:49,080 --> 00:55:53,680 I need to get together these materials for this talk. 804 00:56:00,400 --> 00:56:02,280 - Kwabena? - Yeah? 805 00:56:04,840 --> 00:56:07,400 If anybody calls for me, tell them I'm busy. 806 00:56:08,280 --> 00:56:09,320 I'm working.