191–196 of 196 posts
> It’s just SBF, his family (his mother, father and brother are all in town) and close friends. A small team dedicated to fixing the world—via the magic of quantitative reasoning and the overwhelming force of goodwill. (...) It’s not worth the salt in one’s tears to be sad for the plight of the oligarchy—but there is a downside to billions. Reciprocity becomes difficult between the post-economic and the merely civili…
What is striking about the Sam Bankman-Fried case is that for a long time he was considered to be one of the few who really knew what he was doing and also an advocate for more regulation. It appears to have been a smoke screen, given the financial fragility of his multiple companies, he could not have been looking for more scrutiny and regulation, he was playing Poker with politicians and his competitors. Same with…
Who can believe this narrative? https://twitter.com/The_Prologuist/status/158967849854920704...
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Are these the same VC's that, would grill, up and down, eventual founders on: - The minute details of a startup 5 year out business plan, cash-flow previsions, the impact of currency fluctuations of their profitable horizon...but ... - Would allow him to get his girlfriend as the CEO?
> Would allow him to get his girlfriend as the CEO? Ellison was CEO of the hedge fund, Alameda Research, not FTX. Also, while the descriptions of her in this and other threads as a "Harry Potter fan" and "his girlfriend" dovetail with the erstwhile HN tendency toward "it's so simple, everybody is an idiot except for me," I don't think their relationship was public knowledge until quite recently and until that point s…
And why did she accept?? She had 18 months at Jane Street and by her own admission knew very little about trading.
And really, WHAT were the VCs thinking ??!
The hubris.
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I think he meant theyd stop trading but keep market making Or he just lied yeah
The head of an exchange would know that "Market Making" is a subset of "Trading".
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They were all inexperienced is maybe the most plausible explanation. There was reported to be no board of directors and the CEO of the related proprietary trading firm Alameda was only a couple years out of school with one prior year of work experience as an entry level employee at Jane Street.
This is Alameda's CEO. https://youtu.be/aW6SqLXw944 Un fucking believable.