…is what you tell yourself before you get exposed for committing massive fraud, costing far more billions than you ended up with.
If SBF did commit fraud, it looks like he did it to keep Alameda from going bankrupt. If that’s the case, he ended up destroying billions of dollars of potential donations from FTX. “Take a risk that might let you earn a billion dollars illegally” and “Make 0 dollars” are not your only options here! You could have taken not-illegal risks that might have won big instead. Those tend to have higher EV.
…is what you tell yourself before you get exposed for committing massive fraud, costing far more billions than you ended up with.
If SBF did commit fraud, it looks like he did it to keep Alameda from going bankrupt. If that’s the case, he ended up destroying billions of dollars of potential donations from FTX. “Take a risk that might let you earn a billion dollars illegally” and “Make 0 dollars” are not your only options here! You could have taken not-illegal risks that might have won big instead. Those tend to have higher EV.