Freakonomics Radio
568. Why Are People So Mad at Michael Lewis?
Dec 14, 2023
Michael Lewis, bestselling author known for works like "Moneyball" and "The Big Short," provides a deep dive into the controversial figure of Sam Bankman-Fried, the face of the FTX scandal. He discusses the intense criticism of his portrayal in his recent book, "Going Infinite," and explains why he believes the critiques are misplaced. Lewis reveals what it was like to witness his book become a courtroom drama and explores the ethical dilemmas surrounding effective altruism, financial accountability, and the personal chaos of Bankman-Fried's inner circle.
01:00:36
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Quick takeaways
- Controversy surrounded Michael Lewis's book, "Going Infinite," which chronicled Bankman Freed's journey, with critics arguing that Lewis went easy on him instead of exposing his illegal activities.
- Bankman Freed's attraction to the effective altruism (EA) movement, despite controversy, highlights the need for reflection and reevaluation within the EA community.
Deep dives
Sam Bankman Freed's Controversial Rise and Fall
Sam Bankman Freed, a former cryptocurrency billionaire, was at the center of a thrilling rise and a rapid fall. Controversy surrounded Michael Lewis's book, "Going Infinite," which chronicled Bankman Freed's journey. Critics argued that Lewis went easy on him instead of exposing his illegal activities. However, Lewis defended his approach, allowing the story to speak for itself. Bankman Freed's success was driven by his ability to trade cryptocurrencies and make clever financial decisions. But as a CEO, he proved to be unreliable and uninterested in company management. The collapse of his exchanges, Alameda Research and FTX, led to his conviction on fraud and conspiracy charges.
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