4 ms·
my guy comes from the "elite", both his parents are stanford professors, i'm sure a smart guy like him can raise money.
by strikelaserclaw 4y ago
my guy comes from the "elite", both his parents are stanford professors, i'm sure a smart guy like him can raise money.
- TechBro8615 4y agoAh yes, the mysterious elite and their impenetrable opaque social circles that spawn wunderkind out of thin air...
- scifibestfi 4y agoAren't they just referring to the rich elite class that uses nepotism?
- croes 4y agoSpawn investment money out of thin air
- biggoodwolf 4y agoJust good nature and good nurture.
- strikelaserclaw 4y agoi'm sure SBF is very smart, i just meant more like "How would this guy get access to that kind of capital"
- chucksmash 4y agoThe article mentions it. He started doing the arb with $50k of his own money through a bank account another Effective Altruist in Japan helped him set up, then: > With SBF’s initial $50,000 compounding at 10 percent each day, the next step was to increase the amount of capital. At the time, the total daily volume of crypto trading was on the order of a billion dollars. Figuring he wanted to capture 5 percent of that, SBF went looking for a $50 million loan. Again, he reached out to the EA community. Jaan Tallinn, the cofounder of Skype, put up a good chunk of that initial $50 million.
- googlryas 4y agoTons of smart people born to elite professors and almost zero percent of them end up billionaires(notionally at least).