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> According to SBF, the utility we gained by moving fast outweighed the occasional costs we paid due to poor risk checks, hacks, and the like. This was SBF's wo
by oooyay 3y ago
> According to SBF, the utility we gained by moving fast outweighed the occasional costs we paid due to poor risk checks, hacks, and the like. This was SBF's work philosophy, and it drove the culture he created at Alameda and FTX.
Moving fast is great, but you need structure to support it. If you front load your development with guard rails that ensure you're always on track, then you "aim small, miss small" so to speak. If you do none of that and just hope that you can respond to problems as they arise then you've really not aimed at all and can potentially hit a target, but likely also hit a house.
- cameldrv 3y agoAnd this is why this sort of thing will always keep happening, especially in new fields. It's like an anthropic principle of competition. If you're willing to cut corners in a way that could blow up the whole company, you can get ahead, therefore the leaders in a new field most likely cut a lot of corners and may be at risk of blowing up.