Greed is, unfortunately, heavily rewarded in our society.
Where SBF (and Elizabeth Holmes for that matter) fucked up wasn't greed, it was in not recognizing that you aren't allowed to steal from people who are wealthier than you.
Unlimited grift is tolerated in 2026, as long as you take from below, not above.
Despite FTX Ventures picking lots of winners, SBF defrauded customers and used their funds for those investments and it cost him everything.
The bankruptcy sale went to most of the incumbent hedge funds such as Jane Street who now own most of those investments including Anthropic, SpaceX and Cursor.
It is a lesson that even when this game attracts new entrants who are one day the winners and tomorrow can be put in prison or their fund blown up.
That was stolen from him. Should have never got to bankruptcy.
Greed is shortsighted.
> Greed is shortsighted.
Greed is, unfortunately, heavily rewarded in our society.
Where SBF (and Elizabeth Holmes for that matter) fucked up wasn't greed, it was in not recognizing that you aren't allowed to steal from people who are wealthier than you.
Unlimited grift is tolerated in 2026, as long as you take from below, not above.
Despite FTX Ventures picking lots of winners, SBF defrauded customers and used their funds for those investments and it cost him everything.
The bankruptcy sale went to most of the incumbent hedge funds such as Jane Street who now own most of those investments including Anthropic, SpaceX and Cursor.
It is a lesson that even when this game attracts new entrants who are one day the winners and tomorrow can be put in prison or their fund blown up.
What a twist of fate. He would be worth north of $100B if he simply chilled out like Coinbase.