New Books in Science, Technology, and Society David Morris, "Stealing The Future: Sam Bankman-Fried, Elite Fraud, and the Cult of Techno-Utopia" (Watkins Media, 2025)
Jan 5, 2026
David Z. Morris, a journalist and author specializing in finance and technology, unravels the story behind Sam Bankman-Fried's $11 billion fraud. He discusses how ideas like effective altruism and techno-utopianism fueled such monumental deception. Morris highlights connections between rationalist culture and financial nihilism, warns of red flags in future frauds, and critiques the male dominance in these circles. With insights into AI and gambling culture, he sheds light on how to recognize the next wave of tech fraudsters.
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Complex Tech Enables Fraud
- Complex frontier technologies create large spaces for fraud because most people don't understand them.
- David Morris argues crypto and AI share this opacity that scammers exploit to sell future promises.
Rationalism Is Conclusion-Driven
- Rationalism (capital-R) is built on a fixed conclusion about AI risk rather than a neutral method of reasoning.
- Morris says this conclusion-first structure mirrors how some elites justify extreme actions.
Outcome Calculus Can Justify Crime
- Effective altruism applies utilitarian calculus to justify breaking moral rules by privileging predicted outcomes.
- Morris connects that mindset to Sam Bankman-Fried's willingness to embezzle customer funds for supposed future benefits.
