This is very sad and terrible, but I think the relevant companies are bankrupt and rescue seems unlikely. Maybe if it’s helpful in some way, the newspapers Reuters and NYT contain information, if you want to read it.
Onlookers: Guys, it’s a highschooler, I think there might be special duties here to people of different ages and backgrounds.
While they are insolvent, FTX and SBF have not declared bankruptcy. In developing scenarios, information is unclear and from unknown sources. (Alameda’s balance sheet may prove incomplete.)
There is wisdom in this comment: for many people, following this story closely as it rapidly develops doesn’t add any value to their lives or their work.
However, I suspect it will be many months before we have a truly “final outcome.” At least as of this morning, people have enough knowledge of the situation (and the range of likely outcomes) that it should be affecting—or at least causing them to delay—decisions that need to be made in the next weeks to months. I think it is extremely likely that FTX is done for and that the bulk of Bankman-Fried’s assets are gone. It wouldn’t be responsible to ignore that likelihood in making any decisions from this time forward, unless and until the probabilities change.
People involved in managing EA organizations, people who were considering sizable donations in the near term, and people who are employed at organizations highly dependent on FTX-affiliated funding probably shouldn’t wait for a more final outcome before assessing their situations. But for those who don’t have any decisions to make in the next few weeks to months (including decisions not to change funding or operations) that could be affected by the breaking news, I think you’re absolutely correct.
Calm down. It’s a complex situation developing rapidly, let’s wait and see for what happens as a final outcome.
I think it’s only natural for EAs to be doing a bit of collective soul searching now.
This is very sad and terrible, but I think the relevant companies are bankrupt and rescue seems unlikely. Maybe if it’s helpful in some way, the newspapers Reuters and NYT contain information, if you want to read it.
Onlookers: Guys, it’s a highschooler, I think there might be special duties here to people of different ages and backgrounds.
While they are insolvent, FTX and SBF have not declared bankruptcy. In developing scenarios, information is unclear and from unknown sources. (Alameda’s balance sheet may prove incomplete.)
Bahamian authorities have obtained a court order to begin provisional liquidation proceedings for “FTX Digital Markets and related parties.”
There is wisdom in this comment: for many people, following this story closely as it rapidly develops doesn’t add any value to their lives or their work.
However, I suspect it will be many months before we have a truly “final outcome.” At least as of this morning, people have enough knowledge of the situation (and the range of likely outcomes) that it should be affecting—or at least causing them to delay—decisions that need to be made in the next weeks to months. I think it is extremely likely that FTX is done for and that the bulk of Bankman-Fried’s assets are gone. It wouldn’t be responsible to ignore that likelihood in making any decisions from this time forward, unless and until the probabilities change.
People involved in managing EA organizations, people who were considering sizable donations in the near term, and people who are employed at organizations highly dependent on FTX-affiliated funding probably shouldn’t wait for a more final outcome before assessing their situations. But for those who don’t have any decisions to make in the next few weeks to months (including decisions not to change funding or operations) that could be affected by the breaking news, I think you’re absolutely correct.