I’m mostly not talking about infighting, it’s self-flagellation—but glad you haven’t seen the suffering I have, and I envy your chill.
You’re missing a key fact about SBF, which is that he didn’t “show up” from crypto. He started in EA and went into crypto. This dynamic raises other questions, even as it makes the EA leadership failure less simple / silly.
Agree that we will be fine, which is another point of the list above.
You’re missing a key fact about SBF, which is that he didn’t “show up” from crypto. He started in EA and went into crypto. This dynamic raises other questions, even as it makes the EA leadership failure less simple / silly.
Ah, thank you this does add good context. If I was an EA with any background in finance, I’d probably be very upset at myself about not catching on (a lot) earlier. Since he’d been involved in EA for so long, I wonder if he never truly subscribed to EA principles and has simply been ‘playing the long game’. I’ve seen plenty of examples of SBF being a master at this dumb game we woke westerners play where we say all the right shibboleths and so everyone likes us.
I had heard of him only a few times before the crash, and mostly in the context of youtube clips where he basically described a Ponzi scheme, then said that it was ‘reasonable’. The unfortunate thing is that FTX’s exchange business model wasn’t inherently fraudulent. There was likely no way for anyone outside the company to know he was lending out users’ money against their own terms of service (apart from demanding a comprehensive audit).
Ultimately it doesn’t look like he’s going to get away with it, but it’s good to be much more cautious with funders (especially those connected to an operating non-public company) going forward.
Since he’d been involved in EA for so long, I wonder if he never truly subscribed to EA principles and has simply been ‘playing the long game’.
I explained in this comment and the comment reply below it why I think it’s clear that he did believe in EA principles (except for the part of “EA principles” that are explicitly against fraud and so on).
I’m mostly not talking about infighting, it’s self-flagellation—but glad you haven’t seen the suffering I have, and I envy your chill.
You’re missing a key fact about SBF, which is that he didn’t “show up” from crypto. He started in EA and went into crypto. This dynamic raises other questions, even as it makes the EA leadership failure less simple / silly.
Agree that we will be fine, which is another point of the list above.
Ah, thank you this does add good context. If I was an EA with any background in finance, I’d probably be very upset at myself about not catching on (a lot) earlier. Since he’d been involved in EA for so long, I wonder if he never truly subscribed to EA principles and has simply been ‘playing the long game’. I’ve seen plenty of examples of SBF being a master at this dumb game we woke westerners play where we say all the right shibboleths and so everyone likes us.
I had heard of him only a few times before the crash, and mostly in the context of youtube clips where he basically described a Ponzi scheme, then said that it was ‘reasonable’. The unfortunate thing is that FTX’s exchange business model wasn’t inherently fraudulent. There was likely no way for anyone outside the company to know he was lending out users’ money against their own terms of service (apart from demanding a comprehensive audit).
Ultimately it doesn’t look like he’s going to get away with it, but it’s good to be much more cautious with funders (especially those connected to an operating non-public company) going forward.
I explained in this comment and the comment reply below it why I think it’s clear that he did believe in EA principles (except for the part of “EA principles” that are explicitly against fraud and so on).
That’s evidence that he’s deceptive, but note that he meant to refer to stuff like corporate responsibility, not his utilitarianism.