

#271 — Earning to Give
Dec 24, 2021
Sam Bankman-Fried, the Founder and CEO of FTX and Alameda Research, is known for his commitment to effective altruism. In this conversation, he shares insights on becoming a billionaire under 30 and the ethical implications of wealth. They explore the 'Giving What We Can' pledge, the complexities of philanthropy, and how not to stigmatize wealth. The impact of cryptocurrency on market dynamics and the lessons learned from the pandemic also feature prominently, alongside discussions about lobbying and maximizing charitable impact in society.
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Earning to Give
- Sam Bankman-Fried, unsure of his career path, met with effective altruism leaders.
- They advised him to pursue earning to give, focusing on Wall Street.
Crypto Arbitrage
- Sam Bankman-Fried entered the crypto market by identifying arbitrage opportunities.
- These opportunities existed due to price discrepancies between Bitcoin on different exchanges.
Crypto Exchange Importance
- In cryptocurrency, exchanges play a central role, handling functions like clearing, settlement, and risk management.
- This differs from traditional finance, where exchanges are not as prominent.