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Sam Bankman-Fried Convicted

nytimes.com

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Re: Sam Bankman-Fried Convicted

#921

Post by mrguyorama »

meowface wrote: post #731
bmitc wrote: post #433

Earlier quoted context omitted.

The defense really had no option. Several of Bankman-Fried's previous defense teams quit on him due to his behavior. Even in this trial, during a session with just the judge, the defense made an objection to a question, the judge sustained it, but Bankman-Fried answered anyways. His own defense team asked him where had he been this entire trial because the objection was sustained, you didn't have to answer that. Bank…

An odd question, but: why is he like this? Even from the start, before the criminal charges, his press tour was so bizarre. Is he just a delusional narcissist who thinks he can talk his way out of anything no matter what? I feel like even very, very long into his prison sentence he's still going to try to talk your head off insisting it was all a big misunderstanding. And he's going to be denied parole because he's g…

If you surround yourself with yes-men/women, you will eventually believe them. Most normal humans literally cannot afford to do that because you can't buy groceries with ego, but if you disconnect yourself from normal life by being one of the privileged few born with a silver spoon in their mouth and connections before leaving the womb, you can avoid reality for a long time.

If SBF was born to an average family, none of this would have happened and he might even be a normal person, maybe a little cocky. Or he would be constantly struggling to live a basic life between jobs as he keeps being fired or let go for being insufferable.

I highly doubt he would have gotten into Jane street

Re: Sam Bankman-Fried Convicted

#922

Post by rchaud »

StressedDev wrote: post #310
jacquesm wrote: post #147

That happened fast! I expected it to drag on for much longer. Wonder if he'll appeal.

It was fast because the US Government did a fantastic job of prosecuting him, and his defense team had an awful client. Basically, it was obvious he was guilty, and there was almost no chance his lawyers could show there was a reasonable doubt that he had not committed the crimes he was accused of.

It was also fast because the counterparties weren't just nobodies in a Discord channel, but also big investors with deep pockets.

Re: Sam Bankman-Fried Convicted

#923

Post by hef19898 »

twright wrote: post #845
zztop44 wrote: post #750

Earlier quoted context omitted.

The whole Sequoia thing is so interesting. Here is an excerpt from their (now taken down) profile of SBF, highlighting the moment he convinced them to invest: > That’s when SBF told Sequoia about the so-called super-app: “I want FTX to be a place where you can do anything you want with your next dollar. You can buy bitcoin. You can send money in whatever currency to any friend anywhere in the world. You can buy a ban…

The taken down profile for anyone who wants to see just how wild they were about SBF: https://web.archive.org/web/20221027181005/https://www.sequo...

That's what happens when you raise a red flag on top of large building, and paint the building red afterwards just to be sure everyone notices it.

I loved that piece, and the fact that it was removed soon after.

Re: Sam Bankman-Fried Convicted

#924

Post by Saig6 »

jahnu wrote: post #904
MacsHeadroom wrote: post #898

Earlier quoted context omitted.

Crypto is rallying. Bitcoin is higher than it has been in over a year. It's been trending up for a while though.

I would love to know why. I don’t see any new great thing it can do. Who are these people pouring in billions in a world with real interest rates. Criminals moving money?

SEC might allow/not be allowed to block spot bitcoin ETFs

Re: Sam Bankman-Fried Convicted

#925

Post by lancesells »

jahnu wrote: post #904
MacsHeadroom wrote: post #898

Earlier quoted context omitted.

Crypto is rallying. Bitcoin is higher than it has been in over a year. It's been trending up for a while though.

I would love to know why. I don’t see any new great thing it can do. Who are these people pouring in billions in a world with real interest rates. Criminals moving money?

Can you buy bitcoin with other crypto? Some of that makes sense if you can create a currency, pump it's value, and then exchange for bitcoin.

Re: Sam Bankman-Fried Convicted

#927

Post by mrguyorama »

Brushfire wrote: post #754
zztop44 wrote: post #750

Earlier quoted context omitted.

The whole Sequoia thing is so interesting. Here is an excerpt from their (now taken down) profile of SBF, highlighting the moment he convinced them to invest: > That’s when SBF told Sequoia about the so-called super-app: “I want FTX to be a place where you can do anything you want with your next dollar. You can buy bitcoin. You can send money in whatever currency to any friend anywhere in the world. You can buy a ban…

There is this weird thing in venture investing: the line between "crazy, brilliant founders who will build world changing companies" and "crazy, lunatic founders who will lie and cheat and be awful" is very hard to distinguish, especially at the series seed/series A level. It can lead to false positives and false negatives all the time.

VCs don't care about the distinction, because VCs don't need a real, successful company, they need a story to sell at IPO

Re: Sam Bankman-Fried Convicted

#928

Post by mrguyorama »

hoschicz wrote: post #740

[flagged]

You know the $8 billion dollars he set on fire came from people right? Lots of people basically lost their life savings or had their lives ruined right? How many lives do you have to destroy in the process of "business" before we should care as a society?

Re: Sam Bankman-Fried Convicted

#929

Post by altairprime »

strikelaserclaw wrote: post #791
pseingatl wrote: post #755

BTW, no more Adderall for SBF once he is "remanded to the custody of the Attorney General." Once he gets out of US Marshals' custody and is transferred to the BoP, he can kiss Adderall goodbye. Amphetamines of any kind are not allowed by the BoP, unless he is undergoing a surgical procedure which requires its use (don't know of any, but can't say there are none).

don't know why you need adderall in prison even with adhd, not like there are many responsibilities that need executive function.

Rehabilitation requires executive function, so it's possible that a therapeutic dosage of an ADHD medication would be appropriate; however, therapeutic stimulant dosage levels may be considerably lower than recreational levels. Fortunately, non-stimulant treatments are available, that have no recreational value.

Re: Sam Bankman-Fried Convicted

#930

Post by [deleted] »

pseingatl wrote: post #755

BTW, no more Adderall for SBF once he is "remanded to the custody of the Attorney General." Once he gets out of US Marshals' custody and is transferred to the BoP, he can kiss Adderall goodbye. Amphetamines of any kind are not allowed by the BoP, unless he is undergoing a surgical procedure which requires its use (don't know of any, but can't say there are none).

[deleted]
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