The Positivity Surrounding Sam Bankman-Fried and His Rise to Success
A Different Perspective on Sam Bankman-Fried
Michael Lewis, the renowned author of “The Big Short: Inside the Doomsday Machine,” paints a surprisingly sympathetic picture of Sam Bankman-Fried, the former CEO of FTX. In his latest book, “Going Infinite: The Rise and Fall of a New Tycoon,” Lewis delves into the intricate details of FTX’s downfall while shedding light on Bankman-Fried’s motivations and interactions with others.
An Unconventional Altruist
One fascinating aspect Lewis explores is Bankman-Fried’s commitment to the concept of effective altruism. Bankman-Fried believes in accumulating wealth to make the world a better place through generous donations. The book presents Bankman-Fried as someone who brought together like-minded individuals, regardless of their lack of experience in crypto or finance, to launch Alameda and FTX. These individuals were portrayed as noble crusaders working towards a common cause, oblivious to the consequences faced by FTX users who lost their savings during the company’s downfall.
The Intriguing Details Revealed
Lewis reveals several previously unknown details about FTX’s collapse. One intriguing revelation is Bankman-Fried’s attempt to pay former President Donald Trump to refrain from running for office again. Additionally, Lewis exposes Bankman-Fried’s list of pros and cons regarding his sexual relationship with former Alameda Research CEO, Caroline Ellison. While these revelations add depth to the narrative, the book primarily focuses on Bankman-Fried’s mindset concerning money and his interactions with others.
A Unique Perspective on Financial Events
The book challenges the assumption that Lewis would harbor sympathy for those involved in the U.S. housing bubble prior to the 2008 financial crisis, as portrayed in “The Big Short.” Instead, Lewis offers a fresh perspective on Bankman-Fried, highlighting his journey, motivations, and the impact he had on the cryptocurrency world. The book provides a deeper understanding of the complexities and intricacies surrounding FTX’s rise and fall.
Overall, “Going Infinite” presents a unique and detailed account of Sam Bankman-Fried’s story. It offers readers an opportunity to explore the mind of an unconventional entrepreneur and raises thought-provoking questions about the intersection of finance, altruism, and personal ambition.