FTX/Sam Bankman-Fried megathread

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Maybe I’m just doomer pilled but I have a bad feeling that he will get 6 months of house arrest in his mansion and 5 months will be time served.
Won't be that light our government hasn't become THAT corrupt yet.
I'd say 10-20 in a white collar prison that's basically a resort for rich people in terms of prison confinements.
Montgomery or Yankton probably.
He'll be able to leave the prison to work community service jobs and he's lucky work for some rich people as a gardener eating cookies and drinking lemonade by the pool on a hot summer's day.

Unfortunately the prisons don't have pools last I checked. They do have multiple sports though you can do from bocce to lacrosse.
 
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The poor guy who is going to have to share a cell with SBF, he gives me the fucking creeps listening to him speak.

You can tell there's something sociopathic trundling on up there, like he wouldn't hesitate to steal people's kidneys and sell them and he'd have an excuse lined up about how it's actually enabling African orphans to get iPads.

Getting on the cover of Forbes or their 30 Under 30 list is like the Sports Illustrated or Madden Curse.
True.
 
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I’d like to take a moment to apologize to James Altucher. Back in 2021, I saw a clickbait ad during the bull run with his face on it that read “Crypto Genius reveals his craziest Bitcoin prediction yet”. I was with a friend who is “in the know” and showed him the ad and snickered“he’s a crypto all right…”

Fast forward to 2022 and Sam Bankman Fried is in the news. My first thought when I saw his ugly mug was “that’s the guy!”

I thought I called the FTX scam simply by looking at SBF. But no, I was thinking of a different bespectacled Hebrew with an Afro. I guess those niggers are a dime a dozen in the crypto world.
 
What the fuck is it with the "financial sector" and stimulants anyway? This isn't just in the USA, by the way - it seems to be a worldwide phenomenon.

(I don't think this has anything to do with whether the drugs are generally popular or not - eg. in South Africa in 1972, when the popular street drugs [not counting weed] were hallucinogens and heroin, 2 brokers perpetrated a massive fraud on their clients and colleagues, then lost their own money and gassed themselves to death. These guys were both very heavy users of phendimetrazine[effects similar to amphetamine, formerly used as appetite suppressant], as were the rest of their firm).

Anyone here with some insight into this phenomenon?
It makes you feel bullet proof and you can work ungodly long hours. Amphetamines make staring at a screen for 12 hours straight fun. I actually thought journalists ignored the obvious tweaker signs because aderall is just so common in the tech world it’s like taking vitamins. Journalists are also known to take them when working on tight deadlines.

SBF’s sense of invincibility and rash decision making was 100% due to taking fistfuls of amphetamines. When he was riding the crypto bubble and every number went up he took it as confirmation of his genius, when in fact it was just riding a speculative bubble. This is why he handled to crash like a crazed retard and started stealing.
If they were all popping Adderall like candy, why are they all normal weight or slightly chubby? You'd think they would be skellies.

He's not been using that much speed (what, ~50 mg/day tops?) and uppers are not a magic weight loss drug. Chantal is a cokehead but still fat and I would not snort lines with her.

Sam is a “vegan” which means he eats absolute garbage snack food all day long. The gross food he ate was mentioned pretty regularly in articles as well as old containers of it laying around wherever he was at. He definitely liked his desserts too. I’d bet he compulsively ate when he wasn’t fidgeting.

Caroline is pretty thin, though her clothes were usually baggy. Photos of her recebt court appearance she looks almost skeletal, but that’s probably from stress. The other two co-conspirators I don’t think we’re tweakers, but probably took adderall to keep up with the workload.
That's the concise version, but she also longposted about it on 2015-12-12 and straight up called her post-atheist return to Catholicism a "hypercontrarian Social Conservative for the Signaling phase." Her views are evidently less influenced by the Catholicism of her youth than by
I think the tumblr posts were from the mind of a teenage Caroline rapidly trying on adult world identities and ideas, but not reflective of her as an adult. They reflect a lot of immaturity and confusion.

I agree about her being highly neurotic. I get the idea that she was a highly sheltered teen, one daughter in a family of five living in her parent’s top-tier MIT academic milieu and her church community. Going from that world, to living independently at Stanford would have been a difficult transition to make.

I think you are right about her deepest insecurity being her intellect. I believe even Sam commented on this. Women who don’t engage in the attraction game (regardless of if they are pretty or not) tend to put all their self-worth or value into their intellect or some other facet of their identity like their faith, service, politics, role in family, etc…

A lot of high achieving students face a major crisis when they enter an Ivy League (or highly competitive) university. The precocious genius from in Oklahoma City who was smarter than every student for twelve years without breaking a sweat, suddenly finds they have to work his ass off to just be in the middle of the pack at MIT. It's sort of like the old trope of the prettiest girl/handsome boy in every town in America goes to Hollywood only to discover there are tens of thousands of people just as, or even more attractive, than they are.

Caroline would have been dealt an ego blow when she was suddenly surrounded by all the gifted students in the Stanford mathematics department. The mathematics dept would have been filled with merit students. It's not one of the departments you find legacy students whose parents wealth got them a spot at the school. This might have been why she started to fixate on male superiority and subservience. There would have been a much smaller number of women pursuing a mathematics degree at Stanford and the best and brightest students in the dept would have been male. Being around other smart students at Stanford greatly increased her own personal insecurity, and insecurity about being a woman, to the point she decided being a handmaiden/ concubine was the most appropriate role for a woman.

There was an interview with Caroline in 2020 or so, the weird one with two brown guys, where she says that she really doesn't even need to use higher math at her job. In fact she uses elementary school level math for her job. It's a very weird, self-depreciating statement to make in an interview. Imagine a male hedge fund CEO stating that any 4th grader could handle the math involved in running his hedge fund. This is why she was ideal patsy for Sam to use as CEO. She was willing to accept Sam was the genius and she just an inferior woman who should be grateful to be in his shadow. Sam was keenly aware of how insecure Caroline was, and desperate for any morsel of his attention. He could install her as CEO because she would always bow down to his superiority.

All the co-conspirators actually seem to fit a similar profile to Caroline. The other two were also very bright but also seem fearful and insecure. Sam picked junior executives he could easily streamroll with simple confidence and assertiveness.

The biggest threat to Sam was having anyone with confidence and a spine around him. No doubt the crazy amounts of money and greed in this situation made this a lot easier than it normally would have been. “Money equals better than you” mentality. I'm sure they all felt personally indebted and beholden to Sam thanks to the wealth that had been generated, but their insecurity and cowardice ensured they went down with the ship instead of bailing in March of 2022. Sam Trabucco was the one who had enough of a spine and brains to tell Sam to fuck off, take the money and run. I’ll be curious about the govt coming for him or his money in the future.
 
Another day, another crypto scammer.

Does anyone remember that OneCoin scammer? There were rumours that she was a Roma pulling off a high-end scam. Some of the videos shilling the coin were hilarious with people mindlessly clapping like they were in a cult and naysayers were silenced.
 
Well he has vegan diet for rest of his life for 110 years, VeganGains would kill for that.

Silver linings and all.
 
Sam is a “vegan” which means he eats absolute garbage snack food all day long. The gross food he ate was mentioned pretty regularly in articles as well as old containers of it laying around wherever he was at. He definitely liked his desserts too. I’d bet he compulsively ate when he wasn’t fidgeting.
Stimulants lower your appetite cues, they don't make you magically skinny. If you're a compulsive eater (like Sam and Chantal) popping addys like candy just turns you into a twitchy, agitated, still-fat mess. I know how the farms feels about the validity of ADHD as a disorder, but stimulant medication works differently on individuals with improperly functioning dopamine receptors/manufacturing. Sam is not one of these people.

It makes you feel bullet proof and you can work ungodly long hours. Amphetamines make staring at a screen for 12 hours straight fun.
It's half this and half how prevalent the behavior is in industry. And it's waaaaay more than 12 hours. Coffee doesn't cut it when you're working 16-18 hour days 6-7 days a week, taking meetings all night long, and crawling home/into bed for an hour or two of sleep when the sun comes up. If you're not a short sleep gene person and not slamming cocaine when over the age of 25, good luck.


Caroline would have been dealt an ego blow when she was suddenly surrounded by all the gifted students in the Stanford mathematics department. The mathematics dept would have been filled with merit students.
I think you are right about her deepest insecurity being her intellect. I believe even Sam commented on this. Women who don’t engage in the attraction game (regardless of if they are pretty or not) tend to put all their self-worth or value into their intellect or some other facet of their identity like their faith, service, politics, role in family, etc
I only partially agree. She wasn't from bumfuck Oklahoma, she grew up in Newton, MA, in a school full of gifted and highly intelligent kids from rich and well-educated families. She had classmates whose parents were also MIT professors, peers who are now deep in difficult fields of academia, etc. It was a long-bred issue, not a culture shock. Her insecurity feels like the double-edged variety, the imposter syndrome with a big ego. She knows she's intelligent, feeds off this knowledge, but questions it constantly in a way women tend to more often than men. It's more difficult to accept your own reality than it is for men (though it's an affliction that affects both sexes). And it screwed her over in the end, the crippling insecurity and a need for companionship from men that could smell her desire for intellectual validation a mile away. Brilliant girl but riddled with neuroses. Sadly, many such cases.

We are also, partially, not taking into account the possible reality that Sam is a raging narcissist (of the clinical variety), which lends to skilled manipulation and experience with keeping insecurity high. His underlings very well may have been clamoring for attention on one hand and fearful of losing his favor on the other. High intelligence cannot save you from emotional manipulation.
 
View attachment 5466553Sorry to shit the thread up by arguing about how fuckable our great grandmothers were but no, women were still women and Ayn Rand was just busted. Even back then jurnos were scum and you are looking at New Deal propaganda shots of starving inbred dirt farmers.
There's no way you couldn't find a better example.
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Now consider that their pubic hair went from mid thigh to bellybutton and looked like someone smeared peanut butter into a shag carpet.
 
Another day, another crypto scammer.

Does anyone remember that OneCoin scammer? There were rumours that she was a Roma pulling off a high-end scam. Some of the videos shilling the coin were hilarious with people mindlessly clapping like they were in a cult and naysayers were silenced.
OneCoin isn't a scam, you can get $250k by telling the FBI where Ruja is at. What's innovative about this exclusive collaboration between the U.S. Government and OneCoin is that the more money Ruja takes, the higher the reward, everyone wins!

>The FBI is offering a reward of up to $250,000 for information leading to the arrest of Ruja Ignatova.
 
She wasn't from bumfuck Oklahoma, she grew up in Newton, MA, in a school full of gifted and highly intelligent kids from rich and well-educated families. She had classmates whose parents were also MIT professors, peers who are now deep in difficult fields of academia, etc. It was a long-bred issue, not a culture shock. Her insecurity feels like the double-edged variety, the imposter syndrome with a big ego. She knows she's intelligent, feeds off this knowledge, but questions it constantly in a way women tend to more often than men. It's more difficult to accept your own reality than it is for men (though it's an affliction that affects both sexes). And it screwed her over in the end, the crippling insecurity and a need for companionship from men that could smell her desire for intellectual validation a mile away. Brilliant girl but riddled with neuroses. Sadly, many such cases.

We are also, partially, not taking into account the possible reality that Sam is a raging narcissist (of the clinical variety), which lends to skilled manipulation and experience with keeping insecurity high. His underlings very well may have been clamoring for attention on one hand and fearful of losing his favor on the other. High intelligence cannot save you from emotional manipulation.
No she wasn't from bumfuck, but she did go to a public high school which was surprising. Lot of the kids of ivy professors go to elite prep and private schools. While I'm sure there were a lot of bright and gifted kids in her public High School I think she would have stood apart given her math aptitude. If you look at photos from the competitive math camps she attended she's almost always the only girl or maybe one of two girls.

I know we are all tired of the narcissist label being over used but Sam was interesting due to giant ego his constant use of "effective altruism" in his PR with the media. Once Sam had the wealth he couldn't spend money fast enough to buy fame, power and influence. He was a one man advertising campaign for himself and paid big bucks to get invites into the elite parties of the rich and beautiful. Sam had been described as extremely social awkward and lonesome. Money finally gave him a way to overcome all social disadvantages. You don't need charisma and charm if you have billions of dollars to throw around.

He has proven to be the total opposite of effective altruism and has shown himself to be one of the most ruthlessly selfish, cold blooded people imaginable. Sam was guilty, the Feds had a ridiculously air tight case. He knew he was guilty. They didn't offer a plea deal but had Sam agreed to plead guilty he could have expected a far more lenient sentence and spared his family the enormous cost and humiliation of a public trial. But that .000000001% chance he might get off was more important to him than his parent's public anguish and their financial future. The cost of the pointless legal defense and trial SBF demanded probably drained most of the savings his parents had. If SBF managed to tuck away any cold crypto wallets for a rainy day, they won't be able to be touched without paying and trusting a very deft washer. Given the high profile of the case and govt attention that's very unlikely to happen in a time frame that can help out his parents. Sam chasing a ridiculously insignificant chance at saving his own ass at the cost of his parent's anguish, shame and savings is really something.

The media has repeated a quote by Caroline that Sam said if he would take a 50/50 bet that would either make the world x2 as good or destroy it. He obviously took the same bet with his himself, and his parents, only with 1:8000000 odds. He burned it all down in because of the tiny hope of not guilty/ redemption. He probably started believing it wasn’t just billions of dollars that got him all this praise and fame, he is a charismatic genius that can beat any odds.

I also thought it was interesting that people said Sam was obsessed with RP strategy games at his MIT frat. I need to go back to the article but it was two games he was very into that were interesting. I think his behavior at Alameda and FTX was tied into this game mentality. I think he was just a straight up gambling addict the last year and saw his only way out as to take increasing big risks to try and save his ass from ruin, but it didn't work out very well.
 
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