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I have a feeling he will come out worse that Elizabeth Holmes because it feels like a complete fraud and pilfering of their client's money for their own spoils.

I have a feeling he will come out worse that Elizabeth Holmes because it feels like a complete fraud and pilfering of their client's money for their own spoils. While Elizabeth ran a known fraud she didn't quite pilfer the money to completely enrich themselves like the FTX crew did.

mstipetic 4y ago
And what will change because of this? Not much, the (VC) grift continues. People don’t want to accept that the VC model works while there’s a qualitative change in technology, which worked in the 2010’s and there hasn’t been any in a while. Maybe the new AI generative models bring something new
- emilsedgh 4y ago
  Oh it seems that people accepted that and thought Blockchain is the new technology and here we are...
- tootie 4y ago
  The golden age of VC was curiously correlated with a decade of free money and runaway equity prices. Like buying a plane ticket and thinking you're a bird.
SkyMarshal 4y ago
Also at least Elizabeth wasn't stupid enough to give an interview to Vox where she admitted everything was a fraud and then told the regulators to fuck themselves. SBF's parents are both Stanford law professors, they or someone really needs to tell the kid to just stop talking.
- peanuty1 4y ago
  And his girlfriend (Alameda CEO) Caroline Ellison's dad is Gary Gensler's former boss at MIT.
  - mikeyouse 4y ago
    That's not true - people should stop mindlessly parroting it. Glenn Ellison is the department head of the Econ school, Gary Gensler worked in the business school. In any case, department heads aren't the "boss" of the rest of the professors in any sense familiar to the corporate world. They're just professors with administrative responsibilities and the point-of-contact to the Dean's office. https://economics.mit.edu/people/faculty/glenn-ellison https://economics.mit.edu/people/faculty/glenn-ellison https://web.archive.org/web/20210415164859/https://mitsloan.mit.edu/faculty/directory/gary-gensler https://web.archive.org/web/20210415164859/https://mitsloan....
- batman-farts 4y ago
  For a certain sort of prospective law student, I’m sure this makes Stanford even more appealing. You’ll be able to learn from not one but two professors who helped their own son cop a federal plea deal!
  - donw 4y ago
    Should be a cakewalk given FTX’s campaign donations.
- threeseed 4y ago
  Also Elizabeth didn't do this: Michael Lewis, who is famous for writing The Big Short and Moneyball, has reportedly been embedded with the bankrupt crypto exchange’s former CEO Sam Bankman-Fried for six months and will pen a book telling the inside story.
  - gergov 4y ago
    maybe this is some 4D chess narcissism of wanting to be on the big screen while you serve time?

mstipetic 4y ago

And what will change because of this? Not much, the (VC) grift continues. People don’t want to accept that the VC model works while there’s a qualitative change in technology, which worked in the 2010’s and there hasn’t been any in a while. Maybe the new AI generative models bring something new

emilsedgh 4y ago
Oh it seems that people accepted that and thought Blockchain is the new technology and here we are...
tootie 4y ago
The golden age of VC was curiously correlated with a decade of free money and runaway equity prices. Like buying a plane ticket and thinking you're a bird.

SkyMarshal 4y ago

Also at least Elizabeth wasn't stupid enough to give an interview to Vox where she admitted everything was a fraud and then told the regulators to fuck themselves. SBF's parents are both Stanford law professors, they or someone really needs to tell the kid to just stop talking.

peanuty1 4y ago
And his girlfriend (Alameda CEO) Caroline Ellison's dad is Gary Gensler's former boss at MIT.
- mikeyouse 4y ago
  That's not true - people should stop mindlessly parroting it. Glenn Ellison is the department head of the Econ school, Gary Gensler worked in the business school. In any case, department heads aren't the "boss" of the rest of the professors in any sense familiar to the corporate world. They're just professors with administrative responsibilities and the point-of-contact to the Dean's office. https://economics.mit.edu/people/faculty/glenn-ellison https://economics.mit.edu/people/faculty/glenn-ellison https://web.archive.org/web/20210415164859/https://mitsloan.mit.edu/faculty/directory/gary-gensler https://web.archive.org/web/20210415164859/https://mitsloan....
batman-farts 4y ago
For a certain sort of prospective law student, I’m sure this makes Stanford even more appealing. You’ll be able to learn from not one but two professors who helped their own son cop a federal plea deal!
- donw 4y ago
  Should be a cakewalk given FTX’s campaign donations.
threeseed 4y ago
Also Elizabeth didn't do this: Michael Lewis, who is famous for writing The Big Short and Moneyball, has reportedly been embedded with the bankrupt crypto exchange’s former CEO Sam Bankman-Fried for six months and will pen a book telling the inside story.
- gergov 4y ago
  maybe this is some 4D chess narcissism of wanting to be on the big screen while you serve time?