4 ms·

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 trad

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.

bitcharmer 4y ago
This is Alameda's CEO. https://youtu.be/aW6SqLXw944 https://youtu.be/aW6SqLXw944 Un fucking believable.
- conradfr 4y ago
  Mike Judge should do a Silicon Valley spinoff, they don't even need writers at this point.
- ForHackernews 4y ago
  She's not any younger or more awkward than Vitalik Buterin and many people consider that guy to be some sort of boy-genius.
  - foobiekr 4y ago
    Those people are just as dumb. Crypto attracts this weird sort of clueless hero-worshipper type, similar to the Musk thing.
  - rchaud 4y ago
    "Maverick boy genius that shatters conventional wisdom" is a well-established media trope, with decades worth of films and TV shows priming people into thinking that is plausible. Women's stories as told in the media often come with a "unrecognized in her time" narrative that isn't quite as gripping. Combine that with the hero worship common among the "college is a scam / audit the Fed" demographic AND their Dunning-Krueger multiplier effect of social media-based marketing, and you've got yourself a very distorted picture of reality.
  - UncleEntity 4y ago
    From what I’ve seen of Vitalik Buterin‘s stuff he goes deep diving into subjects and doesn’t leap until it’s clear to him it isn’t going to blow up in a spectacular fashion. I don’t particularly care about what he gets up to but I don’t think he has any bad intentions behind what he does. On the other hand, having an adversity to risk might be a positive thing if you’re illegally investing other peoples’ money.
  - miked85 4y ago
    I'd definitely say she is more awkward, though that doesn't matter if she's good at her job, which doesn't appear to be the case.
- deleted 4y ago
  [deleted]
- foundajob 4y ago
- sumedh 4y ago
  Video has been removed.
pclmulqdq 4y ago
I know some people who worked with SBF at Jane Street, and their opinion was that he was both very smart and extremely risk tolerant. And this comes from a company where people regularly bet thousands of dollars with each other on trivial things (one guy I know lost $10000 on coin flips at one party). It turned out that FTX itself was just one giant leveraged trade, not the legitimate exchange business we all thought. SBF did the kimchi arbitrage back in 2017, which also shows an immense tolerance for risk and a disregard for the exact definitions of rules.
- wslh 4y ago
  It is interesting you separate "immense tolerance for risk and a disregard for the exact definitions of rules". You can be infinitely tolerant for risk but not at the expense of (some) ethics: stealing other people money. So, there is tolerance for risk and there is: your are a f****** plain (white collar) thief. We can also include the factor of being an American citizen which makes could make things worse in this case.
  - pclmulqdq 4y ago
    Yes, you can take huge risks within the law if you want, and if you do, have fun! You're probably going to lose it all at some point soon. Cryptocurrency/Web3 has had a lot of actual fraudsters and thieves, and a lot of them deserve jail time. Hopefully, some of them will get some. By the way, expanding on the arbitrage I mentioned, the Kimchi arbitrage was a well-known trade and the big players in cryptocurrency weren't doing it for good reasons. South Korea's capital controls and anti-money laundering laws would make it very difficult to do legally without risking your other trading operations in the country. SBF was brazen enough to go for it (and risk-tolerant enough to carry a huge number of Bitcoins on his balance sheet for the ~week it takes for them to actually move) and it worked out well for him. In retrospect, it revealed a lot about his personality.

bitcharmer 4y ago

This is Alameda's CEO. https://youtu.be/aW6SqLXw944 https://youtu.be/aW6SqLXw944 Un fucking believable.

conradfr 4y ago
Mike Judge should do a Silicon Valley spinoff, they don't even need writers at this point.
ForHackernews 4y ago
She's not any younger or more awkward than Vitalik Buterin and many people consider that guy to be some sort of boy-genius.
- foobiekr 4y ago
  Those people are just as dumb. Crypto attracts this weird sort of clueless hero-worshipper type, similar to the Musk thing.
- rchaud 4y ago
  "Maverick boy genius that shatters conventional wisdom" is a well-established media trope, with decades worth of films and TV shows priming people into thinking that is plausible. Women's stories as told in the media often come with a "unrecognized in her time" narrative that isn't quite as gripping. Combine that with the hero worship common among the "college is a scam / audit the Fed" demographic AND their Dunning-Krueger multiplier effect of social media-based marketing, and you've got yourself a very distorted picture of reality.
- UncleEntity 4y ago
  From what I’ve seen of Vitalik Buterin‘s stuff he goes deep diving into subjects and doesn’t leap until it’s clear to him it isn’t going to blow up in a spectacular fashion. I don’t particularly care about what he gets up to but I don’t think he has any bad intentions behind what he does. On the other hand, having an adversity to risk might be a positive thing if you’re illegally investing other peoples’ money.
- miked85 4y ago
  I'd definitely say she is more awkward, though that doesn't matter if she's good at her job, which doesn't appear to be the case.
deleted 4y ago
[deleted]
foundajob 4y ago
sumedh 4y ago
Video has been removed.

pclmulqdq 4y ago

I know some people who worked with SBF at Jane Street, and their opinion was that he was both very smart and extremely risk tolerant. And this comes from a company where people regularly bet thousands of dollars with each other on trivial things (one guy I know lost $10000 on coin flips at one party). It turned out that FTX itself was just one giant leveraged trade, not the legitimate exchange business we all thought. SBF did the kimchi arbitrage back in 2017, which also shows an immense tolerance for risk and a disregard for the exact definitions of rules.

wslh 4y ago
It is interesting you separate "immense tolerance for risk and a disregard for the exact definitions of rules". You can be infinitely tolerant for risk but not at the expense of (some) ethics: stealing other people money. So, there is tolerance for risk and there is: your are a f****** plain (white collar) thief. We can also include the factor of being an American citizen which makes could make things worse in this case.
- pclmulqdq 4y ago
  Yes, you can take huge risks within the law if you want, and if you do, have fun! You're probably going to lose it all at some point soon. Cryptocurrency/Web3 has had a lot of actual fraudsters and thieves, and a lot of them deserve jail time. Hopefully, some of them will get some. By the way, expanding on the arbitrage I mentioned, the Kimchi arbitrage was a well-known trade and the big players in cryptocurrency weren't doing it for good reasons. South Korea's capital controls and anti-money laundering laws would make it very difficult to do legally without risking your other trading operations in the country. SBF was brazen enough to go for it (and risk-tolerant enough to carry a huge number of Bitcoins on his balance sheet for the ~week it takes for them to actually move) and it worked out well for him. In retrospect, it revealed a lot about his personality.