Originally published at: FTX executives blew $8bn on real estate deals, donations to politicians, random "endorsements" and various other stupid things | Boing Boing
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Ineffective altruism.
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Proof yet again that being listed on Forbes 40 under 40 should be taken as a clinical sign of sociopathy…
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you are funny as shit
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(Looks at posting history)
Hmmmm… Somethin’ don’t seem right.
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Defective altruists.
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Rob that’s who! Yeah I signed in for the first time in 5 years to tell him that.
as a result of a coding error that “prevented the correct accounting” of user deposits by around $8 billion.
Is this what they call “testing in production”?
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FTX executives blew $8bn on real estate deals, donations to politicians, random “endorsements” and various other stupid things
“The rest I just squandered”.
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This is just mind-blowing. Even if the software had a bug, you have to willfully avoid knowing what’s happening.
When I worked in a regulated industry that handled customer money, I had to report capital position and customer balances to our regulators daily, by noon, balanced to the penny. Is there still no one regulating this segment? Jesus.
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8 BILLION dollar error?
I really think I should have gone the unethical route in life, there’s apparently WAY more money in it. I’ve yet to find a billionaire who didn’t arrive at their wealth through absolute fuckery.
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And Studiously Schlubby Sam did. One of the FTX lawyers who flipped on him just torpedoed his core claim that he was engaged in a good-faith scramble to make investors whole.
Well, it was effective for a while if the beneficiary of the altruism was a greedpig billionaire looking to launder his reputation in the press. William MacAskill was always ready to elevate scum like Bankman-Freid to the level of philosopher-kings for an appropriate donation to his university department.
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I’m sorry everyone. My post wasn’t written in a way that its meaning would be clearly understood. So it keeps getting hidden, and I can understand why. By “you are funny as shit” I should have said “that Aristocrats reference in the post was so brilliant, it totally made my day. Rob is always entertaining, and really felt the need to come here to tell him how much I appreciated it.”
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I mean, yeah. If I had access to pretend money that wasn’t mine, I might get a little crazy on ebay or Heritage Arts auctions late at night…
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I firmly believe that there is very little, if anything, that could come out about the FTX thing or Scam Bankrun-Fraud that would surprise me at this point. The fact that the number of billions was only in the single digits was perhaps unexpected, but still.
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It’s a bit too clever, but I like “affective ultruists”
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Cheers!
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Are there any “effective altruists” who aren’t just cynically lying about being utility monsters?
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You know there’s an edit button, right? If you drop a turd in the living room, it’s polite to clean it up.
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