4 ms·
I think that is what is so hilarious about the situation. The US is forever creating situations where companies want to be first in and fastest scaling at any c
by roundandround 4y ago
I think that is what is so hilarious about the situation. The US is forever creating situations where companies want to be first in and fastest scaling at any cost, offering free everything to begin.
If they were a bank they would realize their growth is beyond their competence and bring in boring big bank security experts with some of the huge profits on the even more massive holdings.. But there were no legal profits on holding all these assets because they promised to be something better than a bank, making its money from risking your assets, so that was just done illegally leaving no above the table accounts for legitimate operation costs. (A friend of SBF with an illegal loan will obviously keep your keys safe.)
How could an honest company that takes negligence seriously compete? It is like the opposite of regulations as barrier to entry. How do you sell things for less than the Mafia's laundering operation?