21–30 of 34 posts
Sam was found to be playing League of Legends while on a call w/ investors at Sequoia for a $1B financing round. Their response was to declare him a genius, as clearly only a genius would be playing video games while in a $B business meeting. These are the monied investment class showing their true skillset, which is mostly limited to "being rich".
Earlier quoted context omitted.
Hmm, Now this has me confused, should I seek consultation for possible Adhd or just declare myself a genius and be done.
Do you have a lot of money and/or familial connection to high places? Depends really on that answer.
Earlier quoted context omitted.
Hmm, Now this has me confused, should I seek consultation for possible Adhd or just declare myself a genius and be done.
Do you have a lot of money and/or familial connection to high places? Depends really on that answer.
Which is what matters most in that equation (see Bezos, Musk, Zuckerburg et al), I mentioned to some people in our circles that I honestly thought this guy was going to end up in rendition black-site when he announced he was going to start getting into political donations/lobbying.
The State doesn't take this kind of stuff lightly, and using his distorted perception of alturism made him a massive target, but when someone listed all his family connections and links to academia and government I realized that he was just another insider cosplaying at being a 'disruptor' like most of the valley does.
Honestly, he should be rotting in a cell working manual labour next to the woman's prison Elizabeth Holmes will be and sharing a cell with Sunny if there is any justice, but I fear they will get a light sentence and some years on house arrest and will end with early releases and probation given how things turn out for their tier of the legal system. One of the guys on his board from complianace ran a scam on online poker a decade before [0] and this was all kosher.
0: https://www.poker.org/ftx-collapse-tether-operations-have-li...
Sam was found to be playing League of Legends while on a call w/ investors at Sequoia for a $1B financing round. Their response was to declare him a genius, as clearly only a genius would be playing video games while in a $B business meeting. These are the monied investment class showing their true skillset, which is mostly limited to "being rich".
It’s weird they didn’t read this for what it likely was: ASPD
To me, SBF embodied the worst stereotypes about the Effective Altruism movement. The not-so-subtle air of I'm-smarter-than-thou, the hubris to think whatever they have thought of haven't been thought and dismissed by others (probably for good reason), and a bull-headed focus on risk and return that can be exactly quantified, to the point of ignoring other, "softer" sides of the issue. Until I see stronger denouncemen…
Having been involved with environmental activism and Bitcoin stuff for over a decade you see these types show up every now and then, often just for photo-ops and a self-gratifying projection of themselves in whatever will satisfy thier own ego trip. Honestly, these types are one of the biggest impediments to progress in these movements, they're so disillusional and siphon off much needed capital into these projects that ultimately leave everyone who might have cared at one point entirely apathetic (like you) to the plights and causes because they got burned from one of them.
I think true altruism is an incredibly rare virtue, and subsequently a much needed one in the World at that, but it's often from a source of genuine personal pain and suffering that allows you to recall and thus empathize with someone who is/has gone through similar difficulties you've been through. To that end, I find it impossible for SBF to truly have a sense of self-awareness to realize how toxic and blatantly counter-productive he is and will likely be remembered as in both EA and in The Crypto community.
Karpales was persona non-grata for nearly decade for MTGOX, but at least he did a mea culpa and served time in prison and sadly had his personal life destroyed as a result of his scam. I fear SBF will not face much given his connections and involvement in US politics via donations as well as his family, and THAT shows the hypocrisy of these sorts of people.
> SBF needed to find a path on which he’d be a coin toss away from going totally bust.
To me, SBF embodied the worst stereotypes about the Effective Altruism movement. The not-so-subtle air of I'm-smarter-than-thou, the hubris to think whatever they have thought of haven't been thought and dismissed by others (probably for good reason), and a bull-headed focus on risk and return that can be exactly quantified, to the point of ignoring other, "softer" sides of the issue. Until I see stronger denouncemen…
It's interesting that you say that. When I read the article claiming that a trader should be neutral between $50 and $100 with 50%, I saw that as an oversimplification for dramatic effect. But what you describe seems like they actually thought like that, which strikes me as bizarre. If you lose your entire budget, it doesn't matter that your winning probability was >50%, so you should always adjust the size of your bets to the size of your budget. While it practically doesn't matter, of course, when people on 6-digit salaries gamble over $10 ice cream, it makes a difference in principle (and the whole purpose of the exercise seems to have been to instil a principle). I'd have expected them to drill their interns on some variation of a Kelly criterion.
Sam was found to be playing League of Legends while on a call w/ investors at Sequoia for a $1B financing round. Their response was to declare him a genius, as clearly only a genius would be playing video games while in a $B business meeting. These are the monied investment class showing their true skillset, which is mostly limited to "being rich".
To me, SBF embodied the worst stereotypes about the Effective Altruism movement. The not-so-subtle air of I'm-smarter-than-thou, the hubris to think whatever they have thought of haven't been thought and dismissed by others (probably for good reason), and a bull-headed focus on risk and return that can be exactly quantified, to the point of ignoring other, "softer" sides of the issue. Until I see stronger denouncemen…
> I met a drove of Jane Street interns who thought exactly the same way, in terms of "EV" or expected value It's interesting that you say that. When I read the article claiming that a trader should be neutral between $50 and $100 with 50%, I saw that as an oversimplification for dramatic effect. But what you describe seems like they actually thought like that, which strikes me as bizarre. If you lose your entire budg…
Good to remember that the business that blew up in SBF's face was Alameda the prop trading desk, and not FTX, the exchange and the market maker. Seems like he did learn his lessons in EV well, it just wasn't good enough for bets over a certain size.