Sam Bankman-Fried’s FTX: The Rise and Fall | Michael Lewis’ New Book

46 Comments

1. He is/was a crook. He made money from monopoly money which only has value while you are playing the game.

2. This was good. I feel we also need expose videos on "not a financial advice" YouTube influencers  that shilled ftx and they should be brought to justice. 😆

3. "not hostile to democracy…" said the person who apparently defines democracy. SMH.

4. Paying Trump $5 bili NOT to run would have rehabbed SBF’s legacy just a bit. Little bit, just a little bit.

5. 😂😂😂sbf reminds me of back in the ol days when a little brother of the guy i used to hang out with worked in an ice cream shop, that little dude would give away free ice creams generously to people he knew and takes hundreds of dollars from the register. we're getting free ice cream every time we visited him so no one he knew turned him in because we're getting free ice cream. that little kid might have been sbf daddy 🤣🤣🤣

6. “As ungoverned as his hair” has me tickled 😂😂😂

7. This guy has made a creeer of salivating all over and glorifying white collar criminals. I can tell you that my buddy that lost the little he had, and now rents a room, doesn’t find it “fascinating” or a “good story”.

8. “This is not to excuse” says Lewis…. “As I proceed to excuse.” Oh just some “crypto speculation… I hope when Someone scams book authors out of their royalties-he takes the same view.

9. Ohhh so according to Lewis it’s not the crookery that’s the problem, it was others discovering and talking about the crookery, that was the issue? Sounds very modern.

10. Take a very hard look at his two "Stanford Law Professor" parents. Very sketch?

11. Xd hes so quirky he only lost billions of ppls life savings!

12. Love how all these liberals spew that Trump “is undermining democracy!” Are you serious? Especially after Obama then Brandon! LMFAO!

13. Embarrassing stuff. This dude literally just took all the lies and said "oh ok. Cool. Great."

14. The fanatic?! 😂

15. I was never fooled by this sham or his girlfriend who were obviously irresponsible and flippant.

16. They are so impressed with this criminal

17. The purpose is Sam paid him so he has to do his job. Both Sam and Michael are FRAUDS

18. Once a gambler always a gambler. If you don't know now you know, ni***

19. The beautiful people found him irresistible? Sir, celebrities are from it

20. Somehow likes the quarterback? It's tom freaking brady

21. How much did Michael Lewis know about our money being stolen?!?

22. This is ridiculous

23. Fidgeting is a sign of deception

24. Here's the rub and it's only slightly addressed:

    A huge problem with a lot of the tech sector today is that there are a lot of young brilliant technologists/mathematicians/etc. that seemingly have no self awareness and sense of their many shortcomings. And, they're given the agency (either as founder or highly paid technologist), despite lacking empathy and experience, to make huge decisions that affect millions if not billions of people. SBF is one of these people. So is Elon. So is Zuckerberg. And there are also thousands of lesser known technologists that fit the mold too. I know, I work with folks like that. And, I'm often working along side someone for which I think "there's no way this person should have this much influence, they clearly are way out of their area of expertise. This person is clearly brilliant in A, but when it comes to B through Z, they're lost."

    I don't know the solution here. Part of it is that the people who should know better, need to stop kissing the ground these folks walk on (the investors, professors, other techies, the authors (Lewis), pod casters, and so on). And, with technologies like crypto, AI, *social media, etc, these folks shouldn't be left to do as they may. There needs to be a referee there (and Lewis should know about that, he has a pod cast that talks about the lack of checks & balances in society today). Yet, people like Lewis are too enamored with the technologist's odd behavior (and probably a big payoff) to really step back and ask "should this person be running a company; should this person be making decisions affecting millions or billions of people?"

    * We've already seen what can happen with social media (we've introduced way more problems to society than we've solved; but the ad revenue keeps coming in, so that's nice).

    SBF is literally incapable of understanding his gaps in experience and other skills required to run a company. That is clear. Megalomanic? Psychopath? Who knows. He's also incapable of understanding that you need people with those skills to run a company. He still thinks he did nothing wrong and thinks he's still brilliant and instead of being punished, should be given more accolades. That's how far out-of-touch he is. And, giving the keys to the kingdom to someone like that is scary.

25. When he is in prison and someone asks him to clean the toilet he will say "Shut up. I once paid Tom Brady $55M for 60 hours of work."

26. So he got paid to be SBF's PR guy.

27. they liked him because he was paying them big cash. Is why they joined him.

28. Awh the poor democrats lost one of their biggest donors aside from Epstein

29. I don’t know if people realize exactly how humiliating this is for Lewis , he embarrasses himself so badly with respect to his coverage of SBF that I don’t know if he can redeem himself.

30. The most frustrating part is that Lewis seems to be positive that he knows what was in SBF’s mind, he states as fact what SBFs mindset was and intent was. He completely ignores what the facts show, which is that SBF knew this was a fraud.

31. How stop these villains who pose as people who care?

32. He knew he stole the money. He always knew because he had his own people writing code that would normally stop him from taking money from customers. He did it regardless because he thought it was numbers and not peoples money.

33. Joofro scammer big shocker 😅😂

34. Next Waiting for Binance to collapse😂

35. This guy is shameless.. sounds like O’Leary wtf

36. And the point about effective altruism is a complete red herring as well! WTF, they spent 1,3 billion (!) on marketing, how much did they spend on effective altruism?? 40million went to political candidates. What about actual charitable causes and not just trying to influence regulation? SBF got high on his own supply and Michael-Lewis sniffed the fumes – the real donations were all deposited towards the ego of a bunch of besserwisser nerds, who saw the world was silly in certain ways and extrapolated they could game the entire system because they were smarter then their classmates in school. It's incredibly disappointing of Michael Lewis to miss this vital point, both here and in the book.

37. Is Sam Jewish?

38. Did he? Did he give as philanthropist?

39. Bitcoin does not have an owner so when it crushes no one to blamme lol

40. I'll take what's useful about any "genius" and "efficiency" that SBF had, but not going to disregard his sociopath and detriment to the economy. In the grand scheme of things, his approach was completely wrong and failed miserably.

41. That is why every company should have a compliance department. Ignorance of the law is not an excuse!

42. I am not really sure how his ex got away when she ran the trading fund and also they could not open the bank account for the money to hold the funds so it was held by the trading fund she owned and then they take over FTX find 5/6 bills and want to re-launch it and Sam is in prison for 110 years

43. This guy is a criminal – how hard is it to scam people?

44. Why is this tragedy so funny to Lewis?

45. This story needed to be told too. WTH guess they needed to put something out and pray for ratings. I’m sure it will be 1000X no worries but bad n sad

46. Was an unexperienced trader and i lost over $30K when FTX started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I find one source to recover my money, at least $5k profits weekly. Thanks so much Mrs Desiree Madison

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