“Jon Wertheim: He made a mockery of crypto in the eyes of many. He’s sort of taken away the credibility of effective altruism. How do you see him?
Michael Lewis: Everything you say is just true. And it–and it’s more interesting than that. Every cause he sought to serve, he damaged. Every cause he sought to fight, he helped. He was a person who set out in life to maximize the consequences of his actions—never mind the intent. And he had exactly the opposite effects of the ones he set out to have. So it looks to me like his life is a cruel joke.”
Pretty astonishing that Lewis answered “put that way, no” to “do you think he knowingly stole customer money”. Feels to me like evidence of the corrupting effect of getting special insider access to a super-rich and powerful person.
I don’t understand your underlying model of human psychology. Sam Bankman-Fried was super-rich and powerful, but is now the kind of person no one would touch with the proverbial ten-foot pole. If the claim is that humans tend to like super-rich and powerful people even after they become disgraced, that seems false based on informal evidence.
In any case, from what I know about Bankman-Fried and his actions, the claim that he did not knowingly steal customer money doesn’t strike me as obviously false, and in line with my sense that much of his behavior is explained by a combination of gross incompetence and pathological delusion.
humans tend to like super-rich and powerful people even after they become disgraced, that seems false based on informal evidence
I think you fail to empathize with aspects of the nature of power, particularly in that there is a certain fraction of humans who will find cachet in the edgy and criminal. I am not that surprised Lewis may have been unduly affected by being in Sam’s orbit and getting front-row seats to such a story. Though for all I know maybe he has accurate insider info, and Sam actually didn’t knowingly steal money. ¯\_(ツ)_/¯
I was surprised too, and would be more except for awareness of human fallibility and how much of a sucker we are for good stories. I don’t doubt that some of what Lewis said in that interview might be true, but it is being massively distorted by affinity and closeness to Sam.
“Jon Wertheim: He made a mockery of crypto in the eyes of many. He’s sort of taken away the credibility of effective altruism. How do you see him?
Michael Lewis: Everything you say is just true. And it–and it’s more interesting than that. Every cause he sought to serve, he damaged. Every cause he sought to fight, he helped. He was a person who set out in life to maximize the consequences of his actions—never mind the intent. And he had exactly the opposite effects of the ones he set out to have. So it looks to me like his life is a cruel joke.”
https://www.cbsnews.com/news/ftx-founder-sam-bankman-fried-michael-lewis-book-60-minutes-transcript
😢
Pretty astonishing that Lewis answered “put that way, no” to “do you think he knowingly stole customer money”. Feels to me like evidence of the corrupting effect of getting special insider access to a super-rich and powerful person.
I don’t understand your underlying model of human psychology. Sam Bankman-Fried was super-rich and powerful, but is now the kind of person no one would touch with the proverbial ten-foot pole. If the claim is that humans tend to like super-rich and powerful people even after they become disgraced, that seems false based on informal evidence.
In any case, from what I know about Bankman-Fried and his actions, the claim that he did not knowingly steal customer money doesn’t strike me as obviously false, and in line with my sense that much of his behavior is explained by a combination of gross incompetence and pathological delusion.
I think you fail to empathize with aspects of the nature of power, particularly in that there is a certain fraction of humans who will find cachet in the edgy and criminal. I am not that surprised Lewis may have been unduly affected by being in Sam’s orbit and getting front-row seats to such a story. Though for all I know maybe he has accurate insider info, and Sam actually didn’t knowingly steal money. ¯\_(ツ)_/¯
I was surprised too, and would be more except for awareness of human fallibility and how much of a sucker we are for good stories. I don’t doubt that some of what Lewis said in that interview might be true, but it is being massively distorted by affinity and closeness to Sam.
I interpreted this as not such a negative for EA—sad for sure, it puts the blame more squarely on SBF than the movement which isn’t so terrible.