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I'm seeing a pattern of misleading headlines wrt this. My guess is that it is PR at work to convince public that FTX was a victimless crime - this is to help SB

I'm seeing a pattern of misleading headlines wrt this. My guess is that it is PR at work to convince public that FTX was a victimless crime - this is to help SBF avoid his full sentence.

arduanika 2y ago
There's definitely a pattern, but I don't want to assume motive. I doubt SBF will get his retrial, but still, it's good PR for a lot of people -- for Effective Altruism, for Stanford, for Sequoia -- whose reputations took a hit here. It's even good PR for the bankruptcy team to say that they got full restitution. And for the journalists, of course, it's a headline that really pops. But sitting here, we can't really know why we're being lied to. All we can do is take note of the lies, and of who's repeating them.
- marcuskane2 2y ago
  Or, it's just kinda and interesting story on it's own, no crazy conspiracy theories needed? When Bernie Madoff or Enron or any of the other major headline-grabbing frauds fell apart, the victims generally got back almost nothing. The fact that FTX is returning all of the user's money, plus interest, is quite unique and newsworthy.
  - jimmydddd 2y ago
    But it's not really "all of their money." That's just the way the news is spinning it. I think that's the point folks are discussing.
  - Scoundreller 2y ago
    Madoff is kinda like an FTX: on average, everyone has received 72% of their “investment” back. But there was some rule about everyone getting their first $1m or something back 100%. Funny thing about madoff is that it is still ongoing, distributions have diminished but last one was this year: https://www.madofftrustee.com/index.php?mobile=false https://www.madofftrustee.com/index.php?mobile=false Where madoff is a bit different is that they were more aggressive in taking money back that people took out. You’re really only getting back what you put in (and obvious losses through time value of money). And madoff didn’t gamble with the money, he mostly just sat on it.
  - arduanika 2y ago
    Sure. As I wrote in my other comment, "That said, the repayments do exceed expectations. That is newsworthy. I just wish they could report that news factually." So to flip it back on you: repaying the lowball marks, but not the actual full stolen value, is an interesting story on its own. No lies and exaggerations from the media are needed. Also, where you write: > "The fact that FTX is returning all of the user's money..." No. This is not a "fact". This is a lie. You have been misinformed. That's my whole point. Do not call it a fact.
  - nerdInnius 2y ago
    [dead]
deleted 2y ago
[deleted]
darepublic 2y ago
I think it has to do with the incredible and increasing amounts of competition for people's attention. And of course human nature in what titles people click on.

I'm seeing a pattern of misleading headlines wrt this. My guess is that it is PR at work to convince public that FTX was a victimless crime - this is to help SBF avoid his full sentence.

arduanika 2y ago

There's definitely a pattern, but I don't want to assume motive. I doubt SBF will get his retrial, but still, it's good PR for a lot of people -- for Effective Altruism, for Stanford, for Sequoia -- whose reputations took a hit here. It's even good PR for the bankruptcy team to say that they got full restitution. And for the journalists, of course, it's a headline that really pops. But sitting here, we can't really know why we're being lied to. All we can do is take note of the lies, and of who's repeating them.

marcuskane2 2y ago
Or, it's just kinda and interesting story on it's own, no crazy conspiracy theories needed? When Bernie Madoff or Enron or any of the other major headline-grabbing frauds fell apart, the victims generally got back almost nothing. The fact that FTX is returning all of the user's money, plus interest, is quite unique and newsworthy.
- jimmydddd 2y ago
  But it's not really "all of their money." That's just the way the news is spinning it. I think that's the point folks are discussing.
- Scoundreller 2y ago
  Madoff is kinda like an FTX: on average, everyone has received 72% of their “investment” back. But there was some rule about everyone getting their first $1m or something back 100%. Funny thing about madoff is that it is still ongoing, distributions have diminished but last one was this year: https://www.madofftrustee.com/index.php?mobile=false https://www.madofftrustee.com/index.php?mobile=false Where madoff is a bit different is that they were more aggressive in taking money back that people took out. You’re really only getting back what you put in (and obvious losses through time value of money). And madoff didn’t gamble with the money, he mostly just sat on it.
- arduanika 2y ago
  Sure. As I wrote in my other comment, "That said, the repayments do exceed expectations. That is newsworthy. I just wish they could report that news factually." So to flip it back on you: repaying the lowball marks, but not the actual full stolen value, is an interesting story on its own. No lies and exaggerations from the media are needed. Also, where you write: > "The fact that FTX is returning all of the user's money..." No. This is not a "fact". This is a lie. You have been misinformed. That's my whole point. Do not call it a fact.
- nerdInnius 2y ago
  [dead]

deleted 2y ago

[deleted]

darepublic 2y ago

I think it has to do with the incredible and increasing amounts of competition for people's attention. And of course human nature in what titles people click on.