3 ms·
I'm just over half way through the Lewis book. I like it so far although I came in expecting the overly forgiving narrative. Its obvious the book was supposed t
by bko 3y ago
I'm just over half way through the Lewis book. I like it so far although I came in expecting the overly forgiving narrative. Its obvious the book was supposed to be a hero's journey. Just a scrappy team of misfits that changed the world.
The weird thing about it is how ftx was such a success almost immediately. The book doesn't go into it too much, but everything was amateur hour and not in a good way. Everyone they hired had no experience in their role. And it wasn't about doing things differently, it was just "why not"?
But can someone explain the success? They didn't have an edge or any new insight. Sbf didn't even really code or care much about it. And is the downturn just from the association with Alameda? In an alternate universe in which Alameda was seen as the albatros as it was and discarded, does ftx succeed?
There were some benefits from Alameda like holding ftx tokens and propping up the value. But the value wasn't just in the token. The team was the second largest exchange after Binance with a fraction of the employees (~300)
I'm past the part of the book where ftx gets crazy growth, which is stated as a given, so I won't get any answers there. But how did it happen?
- FireBeyond 3y ago> I like it so far although I came in expecting the overly forgiving narrative. It's obvious the book was supposed to be a hero's journey. Just a scrappy team of misfits that changed the world. What's also frustrating now is that to this day, Elizabeth Holmes, and several supporters, and investors, truly believe she was wronged, and that we've robbed the world of a great medical revolution. How that squares with almost cartoon-ish cringe things like "The FDA is doing an inspection tomorrow, let's mock up a lab, and put a filing cabinet in the hallway to cover the door to the 'real' lab...