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SBF testifies he knew 'basically nothing' about crypto before starting company
- Cheyana 3y agoHe sure knew how to divert funds for his own use though.
- asynchronous 3y agoThe more incompetent people we see in executive level offices, the more it makes society want to completely destroy/overthrow/obliterate the executive level class.
- r0ckarong 3y agoThe thing that makes me a lot more angry is criminals feigning ineptitude to get away with it. Doesn't matter for the little guy. If you inadvertently defrauded people by being incompetent at sales tax law, you'd go to prison. Do it at a billion dollar scale and suddenly "see I'm just a big dumb dumb and can't remember things" is enough to get off scot-free. That's not acceptable.
- marginalia_nu 3y agoThey asked me how well I understood theoretical physics. I said I have a theoretical degree in physics. They said welcome aboard!
- yieldcrv 3y agolol best line from fallout. I cited the transitive property once to transfer credits 4 school systems away. Each school transferred to the next but did not recognize a schools course two schools away. It worked.
- JCharante 3y agoDon’t you need to pay each school per credit transferred? I hope you weren’t in the US.
- yieldcrv 3y agoThere are properly run, drama free, organizations in the crypto space, consumers need to choose to use them or ask for the information that would help them choose them. Whether by education or regulatory mandate. Its really up to the consumers.
- keithalewis 3y agoCaveat emptor has been working great in that space. People love to make up happy stories.
- yieldcrv 3y agoUltimately we need to continue this trend of shaming specific companies, like FTX and its management, than masquerading that as “crypto”. Just like we do for every other industry.
- sbfsbfsbf 3y agoWhat use is of crypto if not for the entertainment? And of course for buying pizza.
- yieldcrv 3y agoI’m fine with it being the entertainment sector 2 trillion dollar industry in the US on its own, squashes most nocoiner valuation arguments by itself
- sbfsbfsbf 3y ago> 2 trillion dollar industry in the US on its own, squashes most nocoiner valuation arguments by itself That's so utterly ridiculous - you are calling a 10 trillion dollar industry a 2 trillion dollar one? It's like you just dont believe in crypto.
- yieldcrv 3y agoI’m a heretic, I’m building the disney of crypto, call A16z /s
- sbfsbfsbf 3y agoI am very impressed by SBF. Pure entertainer, no dull moments when he is around. Posesses the right qualities to be US president, he will have my vote for certain. SBF for president!
- sbfsbfsbf 3y agoLady Caroline for Veep!
- davidlee1435 3y agoI'm no SBF fan by any means, and I think his actions were wrong. That being said, not knowing anything at the start about the industry you build a company in yields 0 signal about someone's competence. How much did Brian Chesky know about hospitality or marketplaces before starting Airbnb? The Lyft founders about taxis? Zuck or Page/Brin about ads?
- stevenwoo 3y agoIf you dig in his testimony the last two days, his answer when he meanders his way there is he didn’t know for almost everything that went wrong and that he trusted other people like his legal counsel and other employees. He is trying a variation on the Ollie North “I do not recall.” defense but he can’t help himself and keeps on running his mouth - the judge stopped him multiple times during his speechifying and made him just answer questions from his own lawyer.
- aifooh7Keew6xoo 3y agoThe largest signal that's present in that set is antisocial behavior, not competence Inclusive of SBF
- expertentipp 3y agoSo I had been flying private jets, buying real estate, giving away millions, living in Bahamas, had a girlfriend even.... and one day it all disappeared!