This podcast episode covers a range of topics, including the bankruptcy of FTX and the controversy surrounding customer payouts, the growth of private markets and the decline of public markets, the value of Carta and the appeal of owning shares in private companies, the rise of leveraged single-stock ETFs and their impact on the ETF industry, and the disruption caused by low-cost ETFs in the asset management and investment management business. The episode also includes a light-hearted discussion about swimming in pudding and the buoyancy properties of pudding and Jell-O.