UpsideOnly

INTERVIEW: Patrick Gruhn was the CEO of FTX Europe. He sold his company to FTX for $400 million before it collapsed, watched it implode, then bought it back for $30 million. Now he's built something that might be the most interesting idea in trading right now. His company @upsideonly_com flips the model. You trade with their money, lose nothing if you're wrong, split the profits 50/50 if you're right. He also gets into why 95% of traders lose, why even AI falls for the same behavioral traps humans do, and what FTX could have been if SBF hadn't gotten greedy. His take: it wasn't outright fraud from day one, it was embezzlement, the same thing banks do legally, except FTX wasn't a bank. Full interview below. @PGruhnPDC Disclaimer: This content was produced in collaboration with the other party and is intended for informational purposes only. It does not constitute financial or investment advice. Always conduct your own research before making any decisions 01:43 - FTX would probably be bigger than Binance today if Sam Bankman-Fried hadn’t destroyed the company. 03:01 - The new wave of pre-IPO perpetual futures on companies like SpaceX is basically gambling on steroids. 04:19 - Trading platforms sell desperate people the dream of escaping financial pressure overnight. 04:59 - Why retail traders are structurally doomed against market makers and professional liquidity providers. 06:41 - Traders lock in tiny wins but refuse to accept losses until they get wiped out. 09:13 - Trading algorithms are specifically built to exploit human emotional weaknesses. 14:26 - Upside Only trained AI on more than 22 billion trades. 18:38 - The core twist behind Upside Only: users never risk their own money, the company absorbs all losses and only shares profits. 19:58 - Humans are actually much better at identifying entry points than exit points, which is where AI takes over. 20:45 - Leveraged traders often become worse over time because losses psychologically destroy their discipline. 27:05 - Old users eventually go bankrupt and need to be replaced by new victims. 28:54 - Retail traders cannot beat markets unless they have insider information. 31:59 - Suicides, addiction and financial ruin caused by predatory trading platforms and influencers. 35:30 - Casinos actually give people far better odds than crypto leverage trading platforms. 45:40 - FTX would still dominate the industry today if customer funds had never been touched.