Sam thinks in probabilities and values potential good based on the likelihood of its occurrence. He views decisions in a numeric and nuanced way, rather than simply categorizing them as good or bad. Sam justifies his actions by considering the potential future value of the good he could do, even if there is a risk or harm in the present. His probabilistic worldview allows him to justify morally questionable behaviors. Sam envisions a future where the positive impact he creates outweighs any harm caused by his actions. He believes that the potential trillion dollars worth of good that can be achieved justifies the risk. Sam's mindset reflects his inclination towards a profitable business rather than simply maximizing profits. He values the long-term potential of his actions over short-term gains. However, it is challenging to unwind the financial consequences of his decisions due to the ever-changing nature of crypto asset prices. Despite these challenges, Sam's approach is driven by his belief in the value of his actions and the potential positive impact they can have on the world.
Longtime crypto reporter Brady Dale has beat Michael Lewis to market with the first book on the dramatic collapse of FTX. In stores today, “SBF: How the FTX Bankruptcy Unwound Crypto’s Very Bad Good Guy,” tells the tale of the outsized role that Sam Bankman-Fried played in the FTX-Alameda death spiral. Drawing on years of reporting and interviews with SBF himself, the book charts the rise and fall of the one-time crypto wunderkind. “It became clear to me that Sam got really addicted to fame,” said Dale.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.
Show highlights:
- Brady’s background and how he came to cover crypto
- how covering the space for a crypto outlet is different from a more mainstream publication
- how Brady was able to finalize his book so fast
- what Brady’s favorite parts of the book are
- who was really responsible for the collapse of the FTX empire
- whether Sam Bankman-Fried will plead guilty
- whether FTX will make a comeback
- how SBF thinks differently from other people, and how it led to his downfall
- why Brady thinks the “dot-com bust” for crypto has yet to arrive
- whether crypto has betrayed its cypherpunk ideals
Thank you to our sponsors!
Guests:
-
Brady Dale, writer and reporter at Axios, and author of “SBF: How the FTX Bankruptcy Unwound Crypto’s Very Bad Good Guy”
Previous coverage of Unchained on Sam Bankman-Fried and FTX:
Learn more about your ad choices. Visit megaphone.fm/adchoices