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Annotated: Sam Bankman-Fried's “FTX Pre-Mortem Overview”

mollywhite.net

21–30 of 150 posts

Re: Annotated: Sam Bankman-Fried's “FTX Pre-Mortem Overview”

#21
post #6

Can he just gift wrap these statements with a little tag that says "To the prosecutors with love. Merry Xmas, SBF"

I'd love to know what his parents think of what he's doing. They're law professors at Stanford; they have to be aware of how utterly stupid this is, don't they?

[dead]

Re: Annotated: Sam Bankman-Fried's “FTX Pre-Mortem Overview”

#23
post #5

Sam Bankman-Fried is something else. He seems to be incapable of stopping talking, both before and after this saga. He also seems just purely delusional. He's co-conspirators have readily plead guilty. He has a tough hill to climb. Regarding Sam Trabucco, why do we not hear anything about him in these proceedings? How is it possible that he wasn't involved given he just up and left in just August 2022? Why hasn't he…

> FTX International and Alameda were both legitimately and independently profitable businesses in 2021, each making billions. From the article. What are your thoughts given this? > Again, FTX's and Alameda's 2021 tax returns suggest they were massively unprofitable.7 Ah. I missed this point right next to it.

> FTX's and Alameda's 2021 tax returns suggest they were massively unprofitable

The source for that line is this: https://archive.is/LZ2FM

But it is more complicated than that. And unfortunately the "journalists" have done a bad job of documenting the actual sources.

Re: Annotated: Sam Bankman-Fried's “FTX Pre-Mortem Overview”

#24
post #19

> Judge Dorsey ultimately overruled objections to their retention by two individual FTX creditors. I think Molly White defaults to too much credibility in judges and lawyers. SBF's main argument is that Sullivan & Cromwell misled him into going the Chapter 11 route, which he later learned was more motivated by its ability to make hundreds of millions rather than helping his customers. He made a mistake in trusting th…

> the crypto market is … so important

Citation desperately needed.

Re: Annotated: Sam Bankman-Fried's “FTX Pre-Mortem Overview”

#25
Here's some constructive feedback to make this more trustworthy:

- Include a "View source" link to the source code for this document. Everyone makes mistakes and new information comes to light. You should provide a link to the GitHub source file used to generate this page, so that your readers can see the version history and all changes for the lifetime of the article since publication.

- Include the actual sources. A number of your sources, such as #7, are links to secondary sources, that have dead links to the primary sources. You should copy any primary sources and include them in the repo with your article.

"But Breck, the WSJ, NYTimes, CNN, WaPo, et cetera, don't do anything of those things!"

Yes. Exactly. You can't trust them either.

Re: Annotated: Sam Bankman-Fried's “FTX Pre-Mortem Overview”

#26
post #19

> Judge Dorsey ultimately overruled objections to their retention by two individual FTX creditors. I think Molly White defaults to too much credibility in judges and lawyers. SBF's main argument is that Sullivan & Cromwell misled him into going the Chapter 11 route, which he later learned was more motivated by its ability to make hundreds of millions rather than helping his customers. He made a mistake in trusting th…

S&C basically invented modern white collar crime. It's hard to find outside of libraries, but: https://www.amazon.com/Law-Unto-Itself-Sullivan-Cromwell/dp/... is an exceptional read on their history.

(I still think Crypto is worthless, but the concerns about S&C in this case are likely very legitimate!)

Re: Annotated: Sam Bankman-Fried's “FTX Pre-Mortem Overview”

#27
The way I see it, Alameda is the real criminal here. They clearly operated with the criminal intent to take the assets, and distribute who knows how.

I think it's perfectly possible that SBF is just dumb, and Alameda exploited his stupidity.

Once everything crashed, Alameda was all too happy to turn state's witness. SBF's best chance at this point is to secure his own plea deal with proof that Alameda is lying to the feds and scapegoating him. I don't see the feds going for this, they hate ever admitting they're wrong, but I suspect that's how it's going to play out.

Re: Annotated: Sam Bankman-Fried's “FTX Pre-Mortem Overview”

#28
post #4

What annotations software is this? All news should be reported this way when source documents are available. Edit: scrolled to the bottom of the page and found https://github.com/molly/annotate

So it's just the front-end, relying on you to manually write all the HTML. I'd love some software to make generating these (or similar) annotated documents easily. Any ideas?

Cool idea, why don't you have a go at it and share the outcome on HN.

Re: Annotated: Sam Bankman-Fried's “FTX Pre-Mortem Overview”

#29
post #5

Sam Bankman-Fried is something else. He seems to be incapable of stopping talking, both before and after this saga. He also seems just purely delusional. He's co-conspirators have readily plead guilty. He has a tough hill to climb. Regarding Sam Trabucco, why do we not hear anything about him in these proceedings? How is it possible that he wasn't involved given he just up and left in just August 2022? Why hasn't he…

I've wondered the same thing, he leaves in August 2022 and there has been no update on his legal standing. Presumably he is a witness/cooperating?

Re: Annotated: Sam Bankman-Fried's “FTX Pre-Mortem Overview”

#30

SBF also wrote a later post about FTX US's balance sheet: https://sambf.substack.com/p/ftx-us-balance-update-2023-01-1... Is that post at all accurate or is it even more lies?

It confuses customer funds with ftx.us assets so no, it is just more self serving lies.
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