(BNS) @BradyDale On SBF, FTX, All The Stuff

May 20, 2023

Brady Dale, author of "SBF: How the FTX Bankruptcy Unwound Crypto's Very Bad Good Guy," dives deep into the complex story of Sam Bankman-Fried. He discusses the evolution of FTX and the blend of altruism and risk that shaped its downfall. Dale examines how market opportunities are identified in crypto, alongside the moral dilemmas faced by wealthy individuals. He reflects on the intricacies of digital finance and the shifts in market perception, while addressing the implications of the recent downturn and the role of philanthropy in the industry.

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ANECDOTE

Book's Origin

Brady Dale's book, "SBF", originated from a Twitter thread about the FTX collapse.
TechMeme Ride Home host Brian McCullough read Dale's thread on air, leading to a book deal.

ADVICE

Writing Tips

Create a detailed outline to guide your writing process, even if you usually avoid them.
Use a visual progress tracker, like a wall of post-it notes, to maintain momentum and motivation.

INSIGHT

SBF's Background

Sam Bankman-Fried's (SBF) parents instilled a utilitarian philosophy, valuing rationalism and data-driven decision-making.
SBF embraced effective altruism, believing in maximizing good by earning a lot and giving it away.

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Sbf

Brady Dale

In *SBF: How the FTX Bankruptcy Unwound Crypto's Very Bad Good Guy*, Brady Dale provides an in-depth look at the spectacular collapse of FTX, Alameda Research, and the associated legal issues surrounding Sam Bankman-Fried. The book delves into the world of cryptocurrency and decentralized finance, offering insights into the motives and actions of key figures involved. It explores the aggressive lobbying efforts by FTX and Sam Bankman-Fried, shedding light on their goals and the broader implications for the crypto industry.

Capital in the Twenty-First Century

Thomas Piketty

In this book, Thomas Piketty examines the historical dynamics of wealth and income inequality from the 18th century to the present. He argues that when the rate of return on capital exceeds the rate of economic growth, it leads to a concentration of wealth and significant social and economic instability. Piketty's analysis is based on extensive historical and comparative data from over twenty countries, challenging the notion that free market capitalism naturally reduces inequality. He proposes a global system of progressive wealth taxes to mitigate these inequalities and protect democratic values. The book is a groundbreaking work that reorients our understanding of economic history and the inherent contradictions of capitalism[1][4][5].

When Genius Failed

Roger Lowenstein

When Genius Failed is a detailed account of the spectacular collapse of Long-Term Capital Management (LTCM), a hedge fund that was founded by Nobel Prize-winning economists and managed by some of the most brilliant minds in finance. The book explores the fund's rapid ascent, its complex trading strategies, and the catastrophic events that led to its downfall. Lowenstein provides a gripping narrative that delves into the psychological and financial factors that contributed to LTCM's failure, offering insights into the risks and consequences of high-stakes financial speculation.

All the Devils Are Here

Joe Nocera

Bethany McLean

This book delves into the motivations and actions of various individuals and groups, from CEOs and politicians to lenders and home buyers, to explain the complex web of factors that led to the financial crisis. It goes back several decades to weave the hidden history of the crisis, highlighting how it was not just about finance but also about human nature and the American mythology of homeownership.