Michael Lewis, an acclaimed journalist and author of bestsellers like "Moneyball" and "The Big Short", dives into his latest book about Sam Bankman-Fried and the enigmatic world of cryptocurrency. He shares insights on transitioning from Wall Street to writing and the emotional intricacies of modern journalism. The discussion also touches on the challenges of portraying real-life figures and navigating fame after literary success, alongside reflections on his creative journey and the importance of originality in storytelling.
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question_answer ANECDOTE
The Genesis of Going Infinite
Michael Lewis's interest in Sam Bankman-Fried began with a friend's inquiry about SBF.
Initial meetings revealed SBF's unique personality, vast wealth, and political involvement, sparking Lewis's curiosity.
insights INSIGHT
Crypto's Missing Manual
Michael Lewis intentionally avoided detailed crypto explanations in "Going Infinite".
He believed SBF's disinterest in the technicalities and existing explanations made it unnecessary.
question_answer ANECDOTE
Navigating Preconceptions
Public figures as subjects bring preconceptions, unlike Lewis's usual unknown subjects.
Despite some criticism, those close to SBF validated Lewis's portrayal, suggesting accuracy over assumed narratives.
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The Blind Side: Evolution of a Game is a dual narrative that examines the evolution of offensive football strategy, particularly the rise of the left tackle position, and the personal story of Michael Oher. The book delves into how the introduction of players like Lawrence Taylor changed the game, emphasizing the importance of the left tackle in protecting the quarterback's 'blind side.' It also follows Michael Oher's journey from his impoverished upbringing to his adoption by the Tuohy family and his eventual success as a college and professional football player. The book touches on themes of sport, culture, family, and the complexities of racial and socioeconomic dynamics in American football[1][3][5].
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].
Flash Boys
A Wall Street Revolt
Michael Lewis
In 'Flash Boys: A Wall Street Revolt', Michael Lewis delves into the world of high-frequency trading (HFT) and its corrupting influence on the U.S. stock market. The book follows a group of Wall Street iconoclasts, including Brad Katsuyama and Sergey Aleynikov, as they uncover and challenge the unethical practices of HFT firms. Lewis explains how these firms use advanced technology to front-run orders, creating a rigged market that benefits insiders at the expense of ordinary investors. The narrative is engaging and accessible, making complex financial concepts understandable for a broad audience. The book highlights the efforts of these individuals to reform the market and restore fairness, and it has had significant impact, including prompting investigations and public discussions about market structure and fairness[2][3][5].
Going Infinite
The Rise and Fall of a New Tycoon
Michael Lewis
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.
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.
Simon and Rachel speak with journalist and author Michael Lewis. Michael grew up in New Orleans and in the 1980s he worked on Wall Street. His first book "Liar's Poker" (1989) relates his experience at the investment bank Salomon Brothers. His subsequent books include "Moneyball" (2003), ostensibly about baseball but also about the way markets value people, "The Blind Side" (2006) about a black teenager taken in by a white evangelical family who becomes an American football player, and "Flash Boys" (2014) about the legal - but questionable - practice of high-frequency trading. Michael's writing has also appeared in Vanity Fair, the New Republic, and Bloomberg. We spoke to Michael about moving from finance to writing, his subsequent books, and his most recent project, "Going Infinite", on the rise and fall of crypto entrepreneur Sam Bankman-Fried.
A new edition of “Always Take Notes: Advice From Some Of The World’s Greatest Writers” - a book drawing on our podcast interviews - is available now. The updated version now includes insights from over 100 past guests on the podcast, with new contributions from Harlan Coben, Victoria Hislop, Lee Child, Megan Nolan, Jhumpa Lahiri, Philippa Gregory, Jo Nesbø, Paul Theroux, Hisham Matar and Bettany Hughes. You can order it via Amazon or Waterstones.
You can find us online at alwaystakenotes.com, on Twitter @takenotesalways and on Instagram @alwaystakenotes. Our crowdfunding page is patreon.com/alwaystakenotes. Always Take Notes is presented by Simon Akam and Rachel Lloyd, and produced by Artemis Irvine. Our music is by Jessica Dannheisser and our logo was designed by James Edgar.
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