Intelligence Squared
Michael Lewis on The Rise and Fall of Sam Bankman-Fried, Part One
Oct 28, 2023
Michael Lewis, the bestselling author known for works like "Moneyball" and "The Big Short," discusses Sam Bankman-Fried's rise and fall. He dives into Bankman-Fried's unique personality and rapid ascent in finance, sparked by a hiking encounter. The conversation also uncovers his aptitude for high-frequency trading and the social struggles he faced while navigating a competitive career. Additionally, they explore the fascinating election strategies used to manipulate market trades during the 2016 election, revealing the chaos within the trading firm.
33:19
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Quick takeaways
- Sam Bankman-Fried's unconventional approach to business, rejecting traditional structures like job titles and organization charts, led to chaos within his firm but also enabled him to recruit and retain employees.
- Despite facing controversy and challenges, Sam Bankman-Fried's combination of high-frequency trading skills and interest in effective altruism drove his ambition to have a significant impact on the world.
Deep dives
Sam Bankman Fried's rise to power in the crypto industry
Sam Bankman Fried, the crypto entrepreneur, became a billionaire before the age of 30 and aimed to use his money for effective altruism. His success in high-frequency trading and his involvement in the 2016 election demonstrated his skill in navigating financial markets. He founded his own firm, Alameda Research, which faced internal strife and accusations of mismanagement. However, his recklessness did not deter supporters within the effective altruist community.
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