61–70 of 104 posts
This article is the absolute crescendo of the overture of all of the rubbish of the last era of Valley shenanigans in a masterfully written dumpster fire of a puff piece. As the show 'Silicon Valley' started the era with harmless satire, they made it real with this FTX big tent clownshow. Every paragraph dripping with absolute glib, lack of self awareness. "Compassionate To The Core" ... my god man I fell off my chai…
What an excellent way to rationalize any psychopathic move you might want to make for money. Not saying SBF is a psychopath, 'cause I don't know enough about him, but this rationale could be used to justify almost anything: stealing, lying, fraud...
'But, right there, between a bright yellow sunshade and the crumb-strewn red-brick floor, SBF’s purpose in life was set: He was going to get filthy rich, for charity’s sake.' What an excellent way to rationalize any psychopathic move you might want to make for money. Not saying SBF is a psychopath, 'cause I don't know enough about him, but this rationale could be used to justify almost anything: stealing, lying, frau…
Whenever you hear of a VC's "due diligence", remember this.
Well...
not again... https://news.ycombinator.com/item?id=33549059 https://news.ycombinator.com/item?id=33672924 https://news.ycombinator.com/item?id=33573636 https://news.ycombinator.com/item?id=33543718 https://news.ycombinator.com/item?id=33527047 https://news.ycombinator.com/item?id=33568141 https://news.ycombinator.com/item?id=33554271 https://news.ycombinator.com/item?id=33551288 Maybe enough with this. Hacker _News_,…
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Earlier quoted context omitted.
Against better judgement (and advice of counsel, presumably), this guy is still running his mouth to the media. If you had a disgraced former crypto CEO who was still willing to speak at your finance conference, wouldn't you keep him on the docket? I certainly would.
Matt Levine says he's a fan, and that makes sense to me - Levine was pretty well respected as a journalist before he interviewed Fried, but it probably gave him a huge bump in interest when he did and even more now.
I think Levine was just saying, "this is a sensible answer to give as a trader operating an exchange where you want a healthy dose of cynical thinking like this instead of pure idealism".
Earlier quoted context omitted.
> What Sequoia was reacting to was the scale of SBF’s vision. It wasn’t a story about how we might use fintech in the future, or crypto, or a new kind of bank. It was a vision about the future of money itself—with a total addressable market of every person on the entire planet. But like, it’s not even a story about how he might accomplish that goal. It’s literally just saying “my vision is to facilitate every financi…
There's a reason we don't go to the bank to buy bananas, and it isn't because our banks lack "vision".
Sequoia capital published this. That should be in the title. Without knowing that this was a real article published by real people at Sequoia a couple of months ago, this reads like a try-hard troll. No! It’s real! (Sequoia is like the Stanford of venture capital and is one of ftx’s biggest investors)
Still crickets from the Sequoia partners (Alfred Lin, Michelle Bailhe) who backed and hyped FTX and SBF.
What hurts my brain is that theoretically this investment strategy is sound, but the implementation of it looks like: FTX. It's horrific. It's like total war logic. Logically it works, probabilistically it's reasonable, living it is grotesque and insane.
This article is the absolute crescendo of the overture of all of the rubbish of the last era of Valley shenanigans in a masterfully written dumpster fire of a puff piece. As the show 'Silicon Valley' started the era with harmless satire, they made it real with this FTX big tent clownshow. Every paragraph dripping with absolute glib, lack of self awareness. "Compassionate To The Core" ... my god man I fell off my chai…
Spend enough time on this world and you realize that the absolute crazy shit out there would never be made into a movie because nobody would believe it's real.
Make me an action flick of the guy who fought for three sides in WWII: Finnish Winter War, the Nazis, the Americans, only to have him die fighting in Vietnam and I'll tell you a movie that will be a complete box office flop because nobody would think this person actually existed.
Whenever you hear of a VC's "due diligence", remember this.