5 ms·

He did something worse: he embarrassed them.

JumpCrisscross 4y ago
> he embarrassed them Who is “them”? There is no serious power embarrassed by FTX. The seriously powerful never got close enough to be tarnished.
- richbell 4y ago
  I think the closest you'd get is Larry David, Kevin O'Leary, and Tom Brady. Wealthy but definitely not anyone of serious power or consequence.
- leereeves 4y ago
  That may be true, but perception matters, and a lot of virtual ink has been spent on his political ties, donations, contributions to regulation, and meetings with government officials, all the way up to the White House. Powerful people are acting quickly to publicly distance themselves from him.
  - JumpCrisscross 4y ago
    > acting quickly to publicly distance themselves from him The point being they’re making and keeping that distance. This conspiracy theory, that SBF is facing consequences only because he sort of maybe embarrassed Ricchetti, has no legs to stand on.
    - leereeves 4y ago
      That's a strawman. The quote you disputed was: > only when you steal from the powerful that the wheels of justice turn so swiftly Not: > only when you steal from the powerful that the wheels of justice turn [at all] And certainly not: > SBF is facing consequences only because ...
      - JumpCrisscross 4y ago
        Sure, I’ll dispute that, too. Crypto is a hated industry. FTX blew up loudly, fascinatingly, and then SBF basically admitted guilt in multiple public forums. None of this went unexpectedly quickly. Many of the people proposing the current conspiracy were, weeks ago, claiming he would skate away free. To the degree powerful people were embarrassed by him, it was in the Bahamas. Not here. Not at all.
        leereeves 4y ago
        I don't want to argue over the semantics of the word "embarrassed". Perhaps we can both agree that, whatever your (or their) personal feelings about the issue, it has objectively resulted in a lot of negative press coverage. And that (even if only because of the negative coverage) powerful people are taking steps (like returning millions of dollars) to distance themselves from him. And finally that, whether it's the motive or not, swift prosecution is an effective way for officials to distance themselves. The rest is speculation, but not crazy.
- ChainOfFools 4y ago
  Sequoia wasc embarrassed enough to delete their fulsome hagiography of SBF. not to mention the 200 mill or so underscore of their fawning "i love this founder!!" vote of confidence in him.
hinkley 4y ago
Drawing the attention of the masses to the game also makes them nervous, even if not embarrassed.

> he embarrassed them Who is “them”? There is no serious power embarrassed by FTX. The seriously powerful never got close enough to be tarnished.

richbell 4y ago
I think the closest you'd get is Larry David, Kevin O'Leary, and Tom Brady. Wealthy but definitely not anyone of serious power or consequence.
leereeves 4y ago
That may be true, but perception matters, and a lot of virtual ink has been spent on his political ties, donations, contributions to regulation, and meetings with government officials, all the way up to the White House. Powerful people are acting quickly to publicly distance themselves from him.
- JumpCrisscross 4y ago
  > acting quickly to publicly distance themselves from him The point being they’re making and keeping that distance. This conspiracy theory, that SBF is facing consequences only because he sort of maybe embarrassed Ricchetti, has no legs to stand on.
  - leereeves 4y ago
    That's a strawman. The quote you disputed was: > only when you steal from the powerful that the wheels of justice turn so swiftly Not: > only when you steal from the powerful that the wheels of justice turn [at all] And certainly not: > SBF is facing consequences only because ...
    - JumpCrisscross 4y ago
      Sure, I’ll dispute that, too. Crypto is a hated industry. FTX blew up loudly, fascinatingly, and then SBF basically admitted guilt in multiple public forums. None of this went unexpectedly quickly. Many of the people proposing the current conspiracy were, weeks ago, claiming he would skate away free. To the degree powerful people were embarrassed by him, it was in the Bahamas. Not here. Not at all.
      - leereeves 4y ago
        I don't want to argue over the semantics of the word "embarrassed". Perhaps we can both agree that, whatever your (or their) personal feelings about the issue, it has objectively resulted in a lot of negative press coverage. And that (even if only because of the negative coverage) powerful people are taking steps (like returning millions of dollars) to distance themselves from him. And finally that, whether it's the motive or not, swift prosecution is an effective way for officials to distance themselves. The rest is speculation, but not crazy.
ChainOfFools 4y ago
Sequoia wasc embarrassed enough to delete their fulsome hagiography of SBF. not to mention the 200 mill or so underscore of their fawning "i love this founder!!" vote of confidence in him.

hinkley 4y ago

Drawing the attention of the masses to the game also makes them nervous, even if not embarrassed.