Here's a better journo calling out Lewis' shameless SBF peepeeriding
https://www.theatlantic.com/books/archive/2023/10/sam-bankman-fried-going-infinite-book-michael-lewis/675609
Archived in case of paywall:
https://archive.is/v38jt
!r-slurs and !bookworms I'll tag both because this book is bad enough to get ridiculed by both.
Choice Lewis Apologia
>Sam dindu nuffin!! He was just a wittle boy who was just misunderstood. All the evil Wall St bros just didn't let him win.
>They didn't have any polycule you guys. They just lived in close quarters.
>If FTX's assets were properly assessed, we would all find the missing amounts. I don't think any of them would ever lie.
>SBFs parents are just big mama and papa taking care of their wittle boy
>SBF is a super savant bro. You just don't get it. He fidgets with board games and plays Vidya during press conferences, wears cargo shorts and flip flops and wears a wrinkly suit when he meets big DC people. He's so humble!!
>When asked whether he'll go to Vegas, he says 60%. OMG! Did you see the nuance? He just sees the world in an absolute quantifiable way!! Woah!!
>"I don't feel anything. Emotions are a hindrance." Woah Sam is so intelligent. (I wonder how emotionless he would be if I broke his arm)
>Effective Altruism totally works bro. You just don't get it. Consider a doctor in Zambia working against malaria. He can only spend 10 months there because he has family to feed. Let's say there are 50 doctors like him. So in total they can spend 500 hours to fight malaria in Zambia. However if I become an billionaire by defrauding investors I can hire doctors who can spend 501 hour there. Therefore it is ethical for me to become a billionaire. Lewis says, no cap, it sounds good in theory.
Fricking BIPOC.
And many more.
Worst book of 2023 by far.
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I think Lewis on some level sees SBF as equivalent to his bosses in Liars Poker or the guys who got rich in The Big Short, with the only difference being that SBF didn't pull it off. I think I broadly agree with this except the conclusion should be to condemn all three, not idolise SBF as a paragon of rational action.
Lewis frequently talks about SBF doing funny bets at Jane St or that time early in FTX where they misplaced a few mil and it eventually came back as examples of SBF taking risks which were frowned upon but +EV so correct to pursue, and again the correct answer is simply to uphold the taboo.
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If you haven't, you should read Matt Levine's pieces about why all of SBF's Jane Street bets were rslurred.
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Money stuff is awesome
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ft alphaville for similar vibes
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I don't think that one is free entertainment? I read FT articles sometimes but no way I'm ponying up for a sub
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Will also say their trial account period was fricked up, years ago I'd cancel the payment and get at least a year before they restricted the account
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Blessed FT scam coins
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You just need an account for the blogs, no subscription
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