3min chapter

Plain English with Derek Thompson cover image

Thanksgiving Mega-Pod: Bob Iger’s Power Grab, SBF’s Scandal, and Elon Musk’s Omnishambles

Plain English with Derek Thompson

CHAPTER

Matt Levine and the FTX Ponzi Scheme

Bankman Fried said he was using the Ponzi mechanism of crypto in order to make as much money as possible without regard for ethics. The best way to run a con is to convince other people that they're in on the con, says John Sutter. "That's just not something we should be comfortable with, right? Whether in a utilitarian calculus or any kind of calculus"

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