This Week in Startups SBF gets arrested, The Block’s CEO gets a bag from FTX, + Walmart launches a BNPL service | E1636
Dec 13, 2022
Bahamas authorities have arrested Sam Bankman-Fried, setting off a storm of discussions about the legal repercussions and fallout. The Block's CEO, Michael McCaffrey, is under scrutiny for receiving $40 million from Alameda Research, raising serious ethical questions in the field of crypto journalism. Meanwhile, Walmart's launch of a buy now, pay later service sparks a conversation about consumer debt and potential risks, with both humor and caution shared about this financial trend.
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SBF and The Block
- Sam Bankman-Fried (SBF) gave $40 million in secret loans to The Block's CEO, Michael McCaffrey.
- McCaffrey bought a condo in the Bahamas with part of the loan and has since resigned.
Payola and Corruption
- Giving $40 million in secret loans to a media CEO covering your industry is blatant payola.
- Such actions signal deeper corruption and potential criminal activity.
Calculated Manipulation
- SBF's methodical purchasing of media influence reveals calculated manipulation, not incompetence.
- His actions, including buying properties and giving loans, suggest a larger, more sinister strategy.