[dablya]

Is it me or does the kitchen remodel analogy doesn't make his point at all... I mean if you sell 5% for 50k through your broker and it's trading at 100k the next day and you find out that the broker made it available to his best clients first... How would that not be a scam?

[terio]

The point he is making is that the broker could not predict the (inflated) marked valuation of the slice once it reached the market because of the nature of the process. It does not matter who profits from it, their privileged clients or some other speculator.