Martin Shkreli discusses the aftermath of his trading account being wiped out, attributing it to a short squeeze on CAPR stock. He criticizes CAPR's clinical trial reporting as misleading and discusses his new investment in QCLS, a company focused on photonic computing, which he believes is superior to quantum computing and has significant future potential, especially in AI applications. He also reflects on his past trading strategies and shifts his focus towards community engagement rather than personal trading challenges.
Blowing up his trading account meant he lost the money he was using for his trading activities. This financial setback led him to seek a new job because his previous income source from trading was gone, and he needed to generate income through employment. He also mentions that focusing on his community and users is more important than the anxiety of personal stock trading, implying a desire to return to a more stable form of income generation.
While Martin Shkreli may have had significant wealth in the past, the transcript indicates that his trading account, which he refers to as a "challenge account," was wiped out. This specific account went from $30,000 to $260,000 and then to zero. The loss of this capital from his trading activities, even if he has other assets, necessitated a change in his immediate financial strategy, leading him to take a job.
The transcript indicates that while he might have had wealth, his "challenge account" specifically went to zero. This loss of capital from his trading activities, even if he has other resources, was a significant event that prompted him to seek employment. He also expresses that focusing on his community is more important than the stress of personal trading, suggesting a deliberate shift in priorities that includes returning to a more conventional form of income generation.
The transcript mentions "Goodell" in the context of Martin Shkreli stating, "I'm still going to work on Goodell. I'm still going to uh I'm just going to be a consultant and help out." He also later says, "I like being the CEO of Goodell." It appears "Goodell" might be a company or a project he is involved with, and he intends to continue working on it in a consulting or CEO capacity, even after his trading account was lost.
The transcript doesn't explicitly state that he lost access to brokerages. However, it does mention that his "challenge account" was wiped out, implying that the funds within that specific account were lost. He also talks about how "all our apes are gone" referring to the trading community associated with his account. While it's possible there were broader consequences, the transcript focuses on the loss of funds in that particular account.
In the context of stock trading, particularly in online communities, "apes" is a term often used to refer to retail investors who band together, often through social media platforms, to invest in a particular stock, sometimes against the advice of traditional financial analysts. It's a term popularized by the GameStop short squeeze.
When Martin Shkreli says "All our apes are gone," he is referring to the community of traders who were following his "challenge account" and participating in similar trades. The loss of his account signifies the end of that particular trading endeavor and, consequently, the dispersal or disengagement of that community from that specific project.
