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What’s wrong with fraud if it has positive expected utility? At least if you’re an avowed act utilitarian like SBF.
by senderista 4y ago
What’s wrong with fraud if it has positive expected utility? At least if you’re an avowed act utilitarian like SBF.
- bglazer 4y agoSecond order effects; good luck raising money once your fraud is exposed.
- ben_w 4y agoEven with a cold calculations of utility, fraud has the same effect as defection in the Prisoner's Dilemma, and reality is an IPD not a single round, and the winning strategy for that is tit-for-tat.
- HDThoreaun 4y agoSecond and third order effects that result in living in a society that embraces fraud. If you're able to completely cover it up it's a different story, but that's a very dangerous bet to make.