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My point is that actually while everyone knows tether is a fraud, it was not actually obvious SBF was a fraud. Unless you're relying on a generic "everything cr

My point is that actually while everyone knows tether is a fraud, it was not actually obvious SBF was a fraud. Unless you're relying on a generic "everything crypto is fraud" heuristic (which, fine, but not clear why SBF would merit special attention before this week)

astrange 4y ago
I didn’t know this until just now (since I was avoiding the industry and didn’t need to research anything), but it seems like “the company is run by a polycule of stimulant abusers in the Bahamas” is a bad sign. https://twitter.com/sbf_ftx/status/1173351344159117312 https://twitter.com/sbf_ftx/status/1173351344159117312 https://twitter.com/carolinecapital/status/1379036346300305408 https://twitter.com/carolinecapital/status/13790363463003054...
- habitue 4y ago
  yeah, I mean that's the definition of hindsight. Once something happens, you can look back and comb for warning signs. But that doesn't mean it's reasonable to have a rule like "If someone does stimulants and is polyamorous, dont let them give you money, they're definitely running a scam"
  - ChainOfFools 4y ago
    The VCs who goosed FTX and Scam BF with hundreds of millions, resulting in 4 years of feckless tech and finance media fawning over this moron and his supposed "genius" as well as furthering the cancerous spread of crypto into mainstream consciousness, these elite ur-capitalist gatekeepers of gererational wealth - had the 'benefit' of due dilligence before jumping on board. They are now writing down their investments to $0.
    - astrange 4y ago
      Their due diligence includes - listening to him claim he’s never read a book in his life - noticing he was playing League of Legends during the pitch meeting while presenting FTX as an everything app like WeChat Which are also things I think I could preemptively say are bad. Though, Sequoia’s also known for firing founders from their startups, so they probably benefit from seeming very generous to new pitches.

astrange 4y ago

I didn’t know this until just now (since I was avoiding the industry and didn’t need to research anything), but it seems like “the company is run by a polycule of stimulant abusers in the Bahamas” is a bad sign. https://twitter.com/sbf_ftx/status/1173351344159117312 https://twitter.com/sbf_ftx/status/1173351344159117312 https://twitter.com/carolinecapital/status/1379036346300305408 https://twitter.com/carolinecapital/status/13790363463003054...

habitue 4y ago
yeah, I mean that's the definition of hindsight. Once something happens, you can look back and comb for warning signs. But that doesn't mean it's reasonable to have a rule like "If someone does stimulants and is polyamorous, dont let them give you money, they're definitely running a scam"
- ChainOfFools 4y ago
  The VCs who goosed FTX and Scam BF with hundreds of millions, resulting in 4 years of feckless tech and finance media fawning over this moron and his supposed "genius" as well as furthering the cancerous spread of crypto into mainstream consciousness, these elite ur-capitalist gatekeepers of gererational wealth - had the 'benefit' of due dilligence before jumping on board. They are now writing down their investments to $0.
  - astrange 4y ago
    Their due diligence includes - listening to him claim he’s never read a book in his life - noticing he was playing League of Legends during the pitch meeting while presenting FTX as an everything app like WeChat Which are also things I think I could preemptively say are bad. Though, Sequoia’s also known for firing founders from their startups, so they probably benefit from seeming very generous to new pitches.