I always wondered whether the American guilty / not guilty system isn't obviously too binary.
Sam Bankman-Fried Convicted
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Re: Sam Bankman-Fried Convicted
#252[deleted]
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Re: Sam Bankman-Fried Convicted
#253Earlier quoted context omitted.
I was on a jury recently. Deliberations began after closing statements Friday morning. First thing we all agreed we would not be coming back on Monday…
I was on a jury. We pushed it a little longer to get it to that last free lunch and make it long enough not to go back in the jury pool.
Free lunch? Where is this? I've served in CA and have never heard of such a thing!
Re: Sam Bankman-Fried Convicted
#254I always wondered whether the American guilty / not guilty system isn't obviously too binary.
the granularity of the legal convictions and the punishment ranges provides the fine strokes needed to make a binary decision work.
Re: Sam Bankman-Fried Convicted
#255Earlier quoted context omitted.
Because there's essentially a whole second sentencing trial. After the verdict, the Parole Office prepares a Presentence Report (I'm not sure if these are public? I'm always looking for them and never finding them on PACER†), the "PSR", which is like the opening bid for the recommended offense levels and grouping. The prosecution and defense then respond to the PSR with exculpatory, mitigating, or aggravating claims,…
Thank you! I learned from this. Follow up - is there any kind of correlation in the gap length, between sentencing and PSR ? I could see a situation where the gap is longer than a sentence, and that would be pretty sad for the prosecuted...
That's not so much going to be an issue in this case. But a lot of the time, especially in federal white collar cases, the defendant isn't in custody during sentencing anyways.
Re: Sam Bankman-Fried Convicted
#256https://time.com/6330323/sbf-trial-biggest-bombshells/ - interesting in this article showing what Alameda spent their stolen money on is that they made a $500million bet/investment on Anthropic, who Google just committed to investing $2billion into. Could have turned out great!
Could have? FTX still owns that investment into Anthropic and the bankruptcy proceedings are sorting it out.
Isn’t rule 1 of trading that it doesn’t matter if you’re right if the timing is wrong?
Re: Sam Bankman-Fried Convicted
#257Earlier quoted context omitted.
Looking online I see reports that FTX owes its creditors $3B. If Anthropic has 6.5x then the initial $500 million is now worth $3.25B. Is it actually possible that all creditors will get their money back? Pretty crazy if so.
If I'm a creditor in FTX, it's a pretty big gamble, and I'm definitely not sure I'd be willing to settle for "sure, give me some shares in some AI company...". A significant chance that value craters, after all.
As long as you’re able to sell those shares immediately, a bunch of money loaded investors will be waiting to get your fraction of the AI pie from you.
Re: Sam Bankman-Fried Convicted
#258Where did the all the money go?
Re: Sam Bankman-Fried Convicted
#259I really don’t think they should have let the rest of the executive team walk, especially Ellison. They knew what they were doing too, and I’m sure they could have built a strong enough case to convince SBF and the others through plea deals and such
Re: Sam Bankman-Fried Convicted
#260I always wondered whether the American guilty / not guilty system isn't obviously too binary.
Of course it's not. Where there are gradients, there are different charges.
Murder I, Murder II, (voluntary/involuntary) Manslaughter, etc.
To the extent grey areas exist, they are accounted for in a gradient of crimes, each of which has a binary degree of guilt.