The shifting eyes of SBF as he speaks is a tell. Also, note Caroline Ellison. These people are supposed creators of tens of billions of wealth? Many will have to answer for the delusion of their speculation in FTX.
While I have stayed clear of putting a dime into crypto, it does have a couple of economic uses. First it serves quite well as a means of speculation. Second it can serve as means of bypassing currency and banking controls. The thought that crypto would create great wealth (the ability to consume) without creating any goods or services is amusing.
When SBF was first compared to J. Pierpont Morgan I was halfway through America's Bank. Now that I've finished the book and FTX has finished itself, I think he's more akin to John Meriwether from my favorite book of yours: When Genius Failed.
The shifting eyes of SBF as he speaks is a tell. Also, note Caroline Ellison. These people are supposed creators of tens of billions of wealth? Many will have to answer for the delusion of their speculation in FTX.
"Crypto is art that you cannot see". It just doesn't get any better than that.
I love how we get all these warning articles AFTER the fall, but none before. Until last month Sam Bankman-Fraud was a darling.
While I have stayed clear of putting a dime into crypto, it does have a couple of economic uses. First it serves quite well as a means of speculation. Second it can serve as means of bypassing currency and banking controls. The thought that crypto would create great wealth (the ability to consume) without creating any goods or services is amusing.
When SBF was first compared to J. Pierpont Morgan I was halfway through America's Bank. Now that I've finished the book and FTX has finished itself, I think he's more akin to John Meriwether from my favorite book of yours: When Genius Failed.