In this episode we take a deep dive into Sam Bankman-fried (SBF) and the FTX / Alameda situation.
Guaranteed this whole story will be made into a movie one day.
Michael Lewis, the guy who wrote The Big Short, was already planning to write about Sam Bankman-Fried, and already shadowing him, even before the collapse. He was deeply embedded in it all and got a front row seat to the entire thing. He’s now writing the book and there will be a movie. The world moves so fast now.
An especially interesting connection: SBF’s parents are both law professors at Stanford, though he would go on to graduate from MIT. Caroline’s life seemingly parallels SBF, as her father is professor and chair of economics at MIT, former boss of SEC chair Garry Gensler, and her mother is also an economics professor at MIT, though Caroline later graduated from Stanford.
Right out of college, both starting working at Jane Street, perhaps the most exclusive and elitist trading firms with starting salaries in the region of 300k.
SBF and FTX was the second largest donor to the Biden campaign and Democratic party. There are surly more correlations the farther you look, but it is certainly no coincidence in these connections between the elite.
“If you want to go fast, work alone. If you want to go far, work together.”
Not having a board of director for such a big company is one of the reasons for its fall. Although being shady is also one of the reasons why it wont have one.