Byrne Hobart - FTX, Drugs, Twitter, Taiwan, & Monasticism

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Dec 1, 2022

In this discussion, Byrne Hobart, a sharp writer at thediff.co, uncovers the shocking truths behind the FTX collapse and how drugs have historically influenced financial bubbles. He dives into how to position for AI while hedging against geopolitical tensions like a potential Taiwan invasion. The conversation also critiques Elon Musk's Twitter takeover and explores the challenges in identifying today's great founders and biographers. Wind through Hobart's insights into ambition, leadership, and the societal dynamics driving success.

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INSIGHT

FTX Collapse Narratives

Multiple narratives can explain FTX's collapse, from outright fraud to incompetence.
The real story likely involves extreme risk tolerance, poor accounting, and potential late-stage fraud.

INSIGHT

SBF's Deceptive Competence

SBF cultivated a deceptive image of competence, masking his incompetence in crucial operational areas.
His expertise in narrow trading strategies at Jane Street may have blinded him to broader operational necessities.

ANECDOTE

Drugs and Market Crashes

Drug use has historically correlated with market crashes.
From caffeine's link to risk-taking at Lloyd's of London to the potential role of MSEM in the FTX collapse.

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