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I agree and am in general a big fan of FTX and the guys that work there. The CEO, Sam Bankman-Fried one of these HFT guys from Jane Street and his net worth sho

by bko 4y ago

I agree and am in general a big fan of FTX and the guys that work there. The CEO, Sam Bankman-Fried one of these HFT guys from Jane Street and his net worth shot up from 0 to $24 billion in just a few years. He kept things super lean and focused. But in the last few months it looks like he's hired a PR team and is all over the place: podcasts, obviously planted news stories, etc. He even hired a head of fashion and luxury partnerships and even has an ad out in Vogue. I get that he may be looking forward to spending his wealth, but I feel if he doesn't keep focused his company will decay and he'll get sucked up into celebrity BS. https://markets.businessinsider.com/news/currencies/ftx-blockchain-crypto-bitcoin-ethereum-tom-brady-nft-metaverse-fashion-2022-2 https://markets.businessinsider.com/news/currencies/ftx-bloc...

xiphias2 4y ago
Why is being a celebrity BS? After a few tens of millions (or maybe $100M) dollars money doesn't matter at all, it's all about status, and money is just a tool to achieve it.
- bko 4y ago
  Sure, for some people. But I was hoping the Sam Bankman-Fried had higher aspirations like building a product and team he could be proud of. I don't think celebrity status is good for you. It's very unnatural to be surrounded by yes men and people that just want to use for your money or status.
  - JumpCrisscross 4y ago
    > was hoping the Sam Bankman-Fried had higher aspirations like building a product and team he could be proud of This is Armstrong. It’s why he’s failing. Bankman-Fried recognises crypto for what it is. It’s not somewhere to do things to be proud of. It’s a place to make money while it lasts.
adamsmith143 4y ago
>I get that he may be looking forward to spending his wealth On Philanthropy maybe. He's pretty dedicated to the EA movement and has explicitly said he intends to give everything away.

by bko 4y ago

xiphias2 4y ago

Why is being a celebrity BS? After a few tens of millions (or maybe $100M) dollars money doesn't matter at all, it's all about status, and money is just a tool to achieve it.

bko 4y ago
Sure, for some people. But I was hoping the Sam Bankman-Fried had higher aspirations like building a product and team he could be proud of. I don't think celebrity status is good for you. It's very unnatural to be surrounded by yes men and people that just want to use for your money or status.
- JumpCrisscross 4y ago
  > was hoping the Sam Bankman-Fried had higher aspirations like building a product and team he could be proud of This is Armstrong. It’s why he’s failing. Bankman-Fried recognises crypto for what it is. It’s not somewhere to do things to be proud of. It’s a place to make money while it lasts.

adamsmith143 4y ago

>I get that he may be looking forward to spending his wealth On Philanthropy maybe. He's pretty dedicated to the EA movement and has explicitly said he intends to give everything away.