2min chapter

Clearer Thinking with Spencer Greenberg cover image

The FTX catastrophe (with Byrne Hobart, Vipul Naik, Maomao Hu, Marcus Abramovich, and Ozzie Gooen)

Clearer Thinking with Spencer Greenberg

CHAPTER

The Solution to Operational Sloppiness

Alameda bought houses and put them in employees' names, FTX allegedly presented audited financial statements to outside investors. "It's harder for that to have happened without deliberate intent to defraud," he says. But what gets interesting is that the solution to fraud is either never trust anyone or find ways to make human beings perfectly trustworthy.

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