Two popular responses to FTX are “this is why we need to care more about honesty” and “this is why we need to not do weird/sketchy shit”. I pretty strongly believe the former. I can see why people would believe the latter, but I worry that the value lost is too high.
But I think both side can agree that representing your weird/sketchy thing as mundane is highly risky. If you’re going to disregard a bunch of the normal safeguards of operating in the world, you need to replace them with something, and most of those somethings are facilitated by honesty.
Two popular responses to FTX are “this is why we need to care more about honesty” and “this is why we need to not do weird/sketchy shit”. I pretty strongly believe the former. I can see why people would believe the latter, but I worry that the value lost is too high.
But I think both side can agree that representing your weird/sketchy thing as mundane is highly risky. If you’re going to disregard a bunch of the normal safeguards of operating in the world, you need to replace them with something, and most of those somethings are facilitated by honesty.