In a captivating discussion, bestselling author Michael Lewis shares insights from his new book about crypto billionaire Sam Bankman-Fried. He reveals the fantastical rise and dramatic fall of Bankman-Fried, notably during his trial for fraud. Lewis explores the billionaire's intriguing belief in effective altruism and how his upbringing influenced his decisions. He also recounts the chaotic events surrounding the collapse of FTX, painting a vivid picture of the emotional and ethical dilemmas that ensued.
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Going Infinite Reactions
Michael Lewis discusses the volatile reactions to his new book, Going Infinite.
He compares the anger to the initial reception of Moneyball, noting a similar upset among traditionalists.
insights INSIGHT
SBF's Risky Testimony
Sam Bankman-Fried's decision to testify is unsurprising given his insistence on his innocence.
Testifying is risky as it could negatively influence the judge's sentencing.
insights INSIGHT
The Best Story
Michael Lewis believes he has the most comprehensive story due to his access to SBF before and after FTX's collapse.
He emphasizes the importance of context, citing effective altruism and the possibility of FTX customers recovering their funds.
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In 'Going Infinite', Michael Lewis delves into the life of Sam Bankman-Fried, the enigmatic founder of the failed cryptocurrency exchange FTX. The book provides a psychological portrait and a financial roller-coaster ride, tracing Bankman-Fried's trajectory from becoming the world's youngest billionaire to his eventual downfall. It covers topics such as high-frequency trading, cryptocurrencies, effective altruism, and the justice system. Despite criticism for its sympathetic portrayal of Bankman-Fried, the book offers a fascinating insight into the complex world of cryptocurrencies and the character of its central figure.
The big short
Inside the Doomsday Machine
Michael Lewis
The Big Short tells the story of the 2007-08 financial crisis through the lens of several key players who predicted and profited from the collapse of the housing market. The book focuses on characters such as Steve Eisman, Mike Burry, Greg Lippmann, and the founders of Cornwall Capital, who saw the impending disaster and made significant gains by shorting the market. Lewis explains the complex financial instruments and the systemic failures that led to the crisis, making the narrative both accessible and engaging.
Liar's poker
Michael Lewis
Liar's Poker is a non-fiction, semi-autobiographical book that details Michael Lewis's three-year tenure at Salomon Brothers, one of Wall Street's premier investment firms in the 1980s. The book provides a behind-the-scenes look at the culture of bond traders, highlighting the frat-boy camaraderie, killer instincts, and high-stakes games of bluffing and deception. Lewis describes the creation and use of mortgage bonds, the excessive bonuses, and the ruthless competition among traders. The narrative also touches on the author's disillusionment with the industry, leading to his resignation and transition into financial journalism.
Moneyball
The Art of Winning an Unfair Game
Michael Lewis
The book tells the story of the Oakland Athletics' 2002 season, where General Manager Billy Beane and his assistant Paul DePodesta used advanced statistical analysis, known as sabermetrics, to assemble a competitive team despite a limited budget. The approach, pioneered by Bill James, focused on metrics such as on-base percentage and slugging percentage rather than traditional measures like batting average and runs batted in. This data-driven strategy allowed the Athletics to compete with teams having much larger payrolls, like the New York Yankees, and achieve significant success, including a 20-game winning streak and a playoff appearance[2][3][5].
Upon taking a walk with crypto billionaire Sam Bankman-Fried, writer Michael Lewis had a sense that there might be a story here. In the intervening two years, that story has taken a series of twists and turns, resulting in Lewis’ new book Going Infinite: The Rise and Fall of a New Tycoon.
At the top, we walk through Bankman-Fried’s Manhattan trial, the subject at the center of this winding story, and why Lewis was first interested in observing him. Then, he unpacks Bankman-Fried’s belief in effective altruism, his probabilistic approach to trading, and how his Stanford law professor parents shaped his thinking.
On the back-half, we discuss the ten-day period of FTX’s collapse, the scene in the Bahamas as Bankman-Fried filed for bankruptcy, and why Lewis felt a kinship with Sam’s parents in that moment. To close, Michael reflects on his own journalistic tendencies and how he managed to write this book in the aftermath of great personal tragedy.
For thoughts, reflections, and guest suggestions, drop Sam a line at sf@talkeasypod.com.
Against the Rules with Michael Lewis 
