ted (not lasso)
@ted
Quotes from Michael Lewis IRL last night re SBF: “He didn’t respect other people enough to accept their help. He thought everyone over the age of 30 was an idiot.” “SBF went from nothing to $22B in 18 months. You used to have to do things to make money.” “He wasn’t born with the tools to empathize.”
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ted (not lasso)
@ted
in retrospect, i’m surprised that the media and crypto twitter called him an SBF apologist. after reading his book, there are pretty damning passages about SBF. the book is set up like Gone Girl; the first half builds up a facade and the second half tears it down. the build up is required for the epic tear down.
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dbdm
@dbdm
i didn’t read it that way at all (re 2nd half of book)
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ted (not lasso)
@ted
how did you read it?
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dbdm
@dbdm
- blaming the lawyers and all that was just not something i expected from michael lewis as well.
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dbdm
@dbdm
- that a company with billions of dollars of customer assets didn’t have proper controls in place for security, safeguarding of assets, reconciliations between positions, is criminal. Also no independent oversight (eg a BoD) and real segregation of duties is gross negligent.
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dbdm
@dbdm
it read as overall carelessness/negligence for sure, but a couple things really rubbed me the wrong way. - the idea that funds were not lost is just wrong and deceiving. Even if funds were / are recovered, it’s still gross negligence that he didn’t seem to acknowledge how bad that is.
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