[[@Sam Bankman-Fried]] and [[FTX collapse]]

SPF was and is extremely smart./nHe proved that in the interview./nAnything you can throw at him, he can come back very quickly./nMaybe you don't like the answer, but he has fully understood the question and answered it in some manner./nAnd actually not that many guests can do that./nBut at the same time then, and obviously now, it seemed to me there was something quite reckless about the plan./nI didn't at all imagine how things turned out./nI just thought there was this view that FTX could become the exchange for everything, that that belief seemed to me absurd, and that if I asked him some questions about risk tolerance, I thought he wouldn't be able to answer them well./nHe answered them incorrectly to, oh, keep playing double or nothing./nBut he answered them very well in the sense that response was immediate./nThe reasoning was in some screwy way, internally consistent./nHe had thought about it before, and so on./nThe main take away from the conversation is that SPF had a high risk tolerance and was confident in his plan. However, he was wrong about regulators shutting him down and his value went to zero.