Sam Bankman-Fried, In His Own Words

Truly a sick mind.

so you kinda don’t believe in, like, ‘doing unethical shit’, as anything other than a judgment we bestow upon the losers?

Yesterday, 9:48 PM

a month ago CZ was a walking example of “don’t do unethical shit or your money is worthless”

now he’s a hero

is it because he’s virtuous?

or because he had the bigger balance sheet

and so he won

Yesterday, 9:49 PM

well I can see why you didn’t give that answer in interviews


Yesterday, 9:50 PM

so the ethics stuff – mostly a front? people will like you if you win and hate you if you lose and that’s how it all really works?

Yesterday, 9:50 PM


I mean that’s not all of it

but it’s a lot

the worst quandrant is “sketchy + lose”

the best is “win + ???”

“clean + lose” is bad but not terribe!

Yesterday, 9:51 PM

you were really good at talking about ethics, for someone who kind of saw it all as a game with winners and losers

Yesterday, 9:52 PM



I had to be

it’s what reputations are made of, to some extent

I feel bad for those who get fucked by it

by this dumb game we woke westerners play where we say all the right shiboleths and so everyone likes us

Yesterday, 9:53 PM

I fucked up


multiple times

you know what was maybe my biggest single fuckup?

Yesterday, 9:56 PM


Yesterday, 9:56 PM

the one thing everyone told me to do

Yesterday, 9:56 PM

everthing would be ~70% fixed right now if I hand’t

Yesterday, 9:57 PM

I’m trying to guess but I have no idea

Yesterday, 9:57 PM

chapter 11

like, should’ve just rode it out and kept trying to make the $8billion back?

Yesterday, 9:58 PM

if hadn’t done that, withdrawals would be opening up in a month with customers fully whole

but instead I filed, and the people in charge of it are

trying to burn it all to the ground out of shame

I might still get there

but after way more collateral damange

Yesterday, 9:59 PM

and only 50/50

Yesterday, 9:59 PM

I’d take the under on that


you said a lot of stuff about how you wanted to make regulations, just good ones – was that pretty much just PR too?

Yesterday, 10:07 PM

there’s no one really out there making sure good things happen and bad things don’t

Yesterday, 10:07 PM

usually there’s only one toggle–do more or do less

yeah just PR

fuck regulators

they make everything worse

they don’t protect customers at all

so….FTX technically wasn’t gambling with their money, FTX had just loaned their money to Alameda, who had gambled with their money, and lost it? and you didn’t realize it was a big deal because you didn’t realize how much money it was?

Yesterday, 10:38 PM

and also thought Alameda had enough collateral to reasonable cover it

Yesterday, 10:39 PM

I get how you could have gotten away with it but I guess that seems sketchy even if you get away with it

Yesterday, 10:40 PM

It was never the intention

Sometimes life creeps up on you

10:44 PM

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