By Bitcoin Makasine - likhoeli tse 6 tse fetileng - Nako ea ho bala: Metsotso e 6
The Silicon Valley Socialist: Sam Bankman-Fried
"Batho ba batla bolaoli ho ba bolella mokhoa oa ho nka lintho e le tsa bohlokoa, empa ba khetha bolaoli bona bo sa ipapisa le lintlha kapa sephetho - ba bo khetha hobane bo bonahala bo le matla kapa bo tloaelehile."
-Michael Lewis, The Big Short.
Mongoli ea tummeng Michael Lewis o ile a hatisa buka ea hae, Ho ea ka ho sa Feleng: Ho phahama le ho oa ha Tycoon e Ncha, on the rise and fall of FTX on the first day of the trial of its notorious founder Sam Bankman-Fried (Bankman-Fried). The book has met with heavy criticism by commentators for its seemingly favorable portrayal of the millennial crypto founder.
Hoa makatsa hobane motheong oa eona, pale ea Bankman-Fried ke sekolo sa khale haholo, Khuts'oane haholo- pale ea motšoantšisi ea lehlohonolo ea ileng a sebelisa, molemong oa hae, boikemisetso ba sechaba sa rona ba ho etsa likahlolo tsa boleng ho batho eseng ka lebaka la rekoto ea bona ea papali -- kapa joalo ka ha Lewis a e beha, "linnete" -- empa ho fapana le setheo. ea heuristics le tumello ho tsoa ho batho "ba tsoetseng pele".
Bokhoni ba Bankman-Fried ba ho kholisa bao re ba tšepang hore ke "batho ba bohlale" sechabeng sa rona -- ho kenyeletsoa le Lewis -- ke ntho e makatsang. Empa ke hobane'ng ha ba ile ba mo oela?
Mohlomong, ke hobane Bankman-Fried e ne e le motho eo ba neng ba mo utloisisa. E ne e le motho ea ka hare, eo -- joalo ka bona -- a ileng a bona crypto e le sechaba seo ba ka se sebelisang, ho e-na le tikoloho ea ho fepa.
Crypto Colonialism
Fortune Magazine in boemo ba bona of Bankman-Fried, wrote that the Bay Area native doesn’t look like the most powerful man in crypto. But is that really true?
If anything, a 20-something year-old man oozing social awkwardness, an MIT degree, and poor fashion-sense is the wet dream of many a modern “sophisticated” tech investor. Bankman-Fried could easily be a character on the HBO show Silicon Valley.
Joale kopanya seo ka tokelo ea hae ea tsoalo -- batsoali ba babeli bao e leng liprofesa tsa molao setsing sa sejoale-joale sa khoebo -- Univesithi ea Stanford, 'me u na le palo e batlang e le ea bomessia ea bokhaphithaliste ba sejoale-joale.
One need not look further than the praise given to him by Kevin O’Leary, saying “I'm a big advocate for Sam because he has two parents that are compliance lawyers." the Shark Tank investor said a 2022.
O’Leary continued: “If there's ever a place I could be that I'm not going to get in trouble, it's going to be at FTX.” We later found out that the Canadian investor was paid close to a million dollars an hour to be a public spokesperson for Bankman-Fried.
Empa ka nģ'ane ho 'nete ea Bankman-Fried, ntlha ea sebele ea ho rekisa e ileng ea hapa tlhokomelo ea batseteli e ne e le morero oa Bankman-Fried.
Eseng "boitelo bo sebetsang” -- ho ingolisa ho metsamao e tloahelehileng, e iqapetsoeng ke mokhoa o motle oa ho bapatsa bakeng sa bo-ralichelete ba maemo a holimo. Empa, se hlileng se ileng sa thabisa bo-ramatsete ba hae ke tumelo ea hae ea hore crypto e ne e se indasteri e tebileng e lokeloang ke ho hahoa, empa e ne e le monyetla o motle oa ho nka mokotla oa chelete ho batho ba bechang.
As a Sequoia Capital’s venture capitalist put it in a now deleted profile on Bankman-Fried, “Yes, crypto eventually could replace money, and, yes, it can eventually decentralize the web,” the investor said.
O ile a tsoela pele: “Empa lintho tseo kaofela hase ’nete kajeno. Mme, jwale, ke eng seo batho ba se etsang kajeno? Ba hoeba. 'Me haeba batho ba rekisa,' me batho ba rata khoebo, mokhoa oa khoebo o tla etsa lithane tsa chelete ke ofe? E ka ba phapanyetsano. ”
Tlhaloso ena e bontša hore batseteli ba Bankman-Fried ba ne ba sa nke hore sechaba sa crypto se tebile. Ho bona, crypto ka boeona e na le bohlokoa bo tšoanang sechabeng ba ho fumana lihlopha tse tharo tsa cherries ka tatellano mochining oa slot ka casino ea Vegas. Ho molemo ho tsetela casino ho e-na le lifoto tsa cherries.
Agree or disagree with them, the crypto, and specifically the bitcoin subsection, of the community is serious with their goals. They are largely a set of libertarian, hyper-principled people. They are profoundly serious about their view on how blockchains can be used to liberate the currently unbanked, protect the value of one’s labor from ever increasing inflation, and connect people around the world through payments, and specifically remove government interference in money.
As Erik Voorhees’ puts it –– in what is now one of the final debates with Bankman-Fried –– “what we are doing here is in effect bringing the same separation that occurred between church and state to state and payments. In effect freeing people around the world.”
The earnesty of belief held by people like Voorhees doesn’t compute for people like Sequoia VC or Bankman-Fried. For them those beliefs were useful in that they got a community to work hard for close to no reward until the first few bitcoin bull runs. But the belief itself? For the jaded elite, a company mission often is a means to a single end: Enrich one’s bank account.
Ho bona, thomo e bohlokoa joalo ka ho etsa "lithuso," kapa ho nka leeto la ts'ebeletso sekolong se phahameng ho shebahala hantle bakeng sa ofisiri ea kamohelo ea liki. Ke karolo ea "papali" feela.
This is quite problematic, since their investments in immature crypto companies –– and overall childish behavior, like when FTX e tsositsoe $420,690,000 from 69 investors –– is a large part of the reason the “crypto” industry isn’t respected by the general public.
Moreover, Bankman-Fried regularly made statements criticizing bitcoin, for being “slow, and bulky.” Keep in mind, the bitcoin community not only birthed crypto, but are –– for better or worse –– perhaps the most ideologically pure people in technology.
Moreover, Bankman-Fried sought to influence legislation that would impact the earnest bitcoin. Since he was –– prior to FTX’s collapse –– one of the biggest Washington donors, he likely would succeed in lobbying the government to follow his view.
But this here is a form of colonization. The crypto community was a vibrant ecosystem prior to Bankman-Fried’s entry. It was a bunch of misfits that came together to build something that was unique and important. A chance to feel empowered in a system they feel marginalized in. For Bankman-Fried and his cohorts to come into it aiming to make a percentage off of the trading fees of investors –– rather than create products and businesses in the ethos of bitcoin –– was their original sin.
Na re lokela ho makala hoo qetellong e ileng ea senyeha?
Setsebi sa Silicon Socialist
In a similar vein to a young child who asks “why doesn’t the government just print more money and give it to the homeless?” –– Bankman-Fried’s claim to fame was to make a lot of money and give it away. Like some benevolent patrician. Andrew Carnegie in board shorts.
Empa na e ne e hlile e le tšusumetso ea 'nete bakeng sa liphallelo, kapa na kutloelo-bohloko ea hae e ne e le mofuta oa leano la papali ho eketsa chelete ea hae ea sechaba?
In a phone call with crypto reporter Tiffany Fong, Bankman-Fried said that he donated as much money to Republicans as he did Democrats, but did so quietly in order to gain favor with journalists who he felt were predominantly left wing. In other words, Bankman-Fried manufactured a public persona of humanitarianism, but in reality his raison d'être was to gain more power and clout
His former business partner Anthony Scaramucci o itse joalo he saw Bankman-Fried as having a sort of “superiority complex.” So, perhaps in Bankman-Fried’s head he thought that he could single-handedly solve all of the world’s problems if only he had all of the money.
Whatever the truth may be –– what is it that made Bankman-Fried think that he had the right to use other’s money at his own discretion? Or for him to enter a space that he, once again, had close to nothing to do with creating. What made him think that he should be the authority who decides what aspects are kosher or haram? Or write legislation for it?
At its core is a belief he was the smartest person in the room. A belief certainly had the innate privilege to feel given his parents’ societal standing, and his undeniable analytical wit. But, what was missing in the matrix of Bankman-Fried was a soul. A soul that would allow for him to truly respect community that he was entering as a stranger.
Nalane e tletse mehlala ea batho ba tšoanang le Bankman-Fried, ba ileng ba ema pusong ba tšepisa ho ba batsamaisi ba utopia e ncha, e hlokang toka. Ha e le hantle, phetoho e ka sehloohong eo ba e batlang ke hore e be bona ba busang. Bankman-Fried o ile a nka trope eo mme a fafatsa moetlong oa Silicon Valley.
As Michael Lewis writes, for Bankman-Fried, most of life is just some kind of game. One which –– if most legal experts li nepahetse –– he won’t be getting any restarts on.
Ena ke poso ea baeti ka Jacob Kozhipatt. Maikutlo a hlahisoang ke a bona ka ho felletseng 'me ha a hlile ha a bontše a BTC Inc kapa Bitcoin Makasine.
Mohloli oa pele: Bitcoin Makasine ea