Pornhub

“When really we're, if we're not taking away views from gamers, certainly not. If anything, we're taking away views from Pornhub, but that's about it.”

“And they lended it at a 20% interest rate.”

“They said that actually the employees bought it out for seventy seven million, like the two executives bought it out. But that didn't smell quite right. Where did these, where do these employees get seventy seven million dollars to buy this, right? Like how mu…”

“Or like, you know FTX had this, you know, sister company that, and by the way, nobody knew these companies were linked. So everybody thought these were two not only unlinked companies, they thought they were enemies. Cause at the time, all of the studios were …”

“Bootstrapped. No, no investors, no nothing.”

“So this is the number six most trafficked website in the United States. Three billion visits in, in like, in a month.”

“And I think it's about to exchange hands again, because now a private equity group bought it. And do you want to know the name of the private equity group that bought Pornhub? ... Ethical capital partners. Do you want to know how many companies they own? One. …”

“So they sell it to that guy you were referring to, this guy, Fabian Tillman. A hundred, so a hundred forty million is what they sold it to him for.”

“And he creates a live streaming video website to stream their foosball competitions, and there's not much of an audience for the foosball competitions, but he realizes as he's building all this video tech, he's like, hey, I think we could do the same thing for…”

“The government seizes nine million dollars out of one of their bank accounts, just takes it.”

“He's forced to sell on a fire sale. He sells it for seventy seven million dollars.”

“And so what Bill Ackman does is he goes and he immediately texts the CEO of Visa, and he sends him the article. He's like, your company is enabling this. These guys are making money off of this. You better do something about this. And the CEO of Visa is like, …”

“It was a bunch of X. I don't know if it was JP Morgan or Morgan Stanley, whatever, some big bank, two bankers from there spun out, created their own like lending firm specifically to lend just to this one play.”