What's Next? discussion

“His ambition was grandiose but he wasn't”

Michael Lewis' treatment of Sam Bankman-Fried, FTX founder, released at the start of his trial. Interesting, quick read but less about the alleged fraud and more the assembled individuals and idealistic views re effective altruism and application of systematic training to crypto. Overall, the book felt rushed and too soon, plus it needed a better title. 3.5 stars rounded down.

I read 3 crypto/SBF centred books in a row, all came out this year so they are all quite up to date with what's been going on with the industry.

Out of the 3 books, I did find this one to be the weakest at first, not sure what the author was trying to achieve by writing such a book, although I've since watched a few of the author's interviews and also listened to a few of them on podcasts, and so I have changed my view a bit.

I think Michael Lewis' aim was not to expose anything, he was trying to write about a character, and the theme was not his rise or fall but rather him as person, or as an actor in this modern age with all the technological advances, and also the way he 'played' around in the financial, social and even political circles. It is definitely a cautionary tale of how with all the past knowledge and experiences people would still trust someone who runs a company with no corporation governance (really none whatsoever, and as the author often mentioned, with no adults at the table!)

For those of you who would like a summary of this book, or just enjoy a good interview you can check out the following 2 podcasts

1. The News Agents (20 Oct 2023)
2. Freakonomics Radio (14 Dec 2023)

Thanks for lining the pods, Belinda. I’m in the middle of this book and enjoying it so far but I’m used to
Lewis’s M.O. being more about the characters than about events and a linear plot. Still, I was surprised to see how little technical details were given about the inner workings of crypto, so the podcasts are a great resource.