Easy Money + Gilded Rage = Stealing the Future

 

Eyeball deep in David Z. Morris at the moment, in the wake of Messrs McKenzie & Silverman. Badasses, all of them. Individually and topically in concert.

 

 

Got onto David here: Artifice in the Age of Artificial Intelligence

Sam Bankman Fried ("SBF")? Yeah. Lordy. Been there, done that.

DAVID BEGINS:

I spent almost every weekday in October of 2023 in a courtroom in Lower Manhattan, listening to experts, lawyers, and first-hand witnesses recount the collapse of the FTX cryptocurrency exchange and prove Sam Bankman-Fried’s responsibility for it to a jury. 

 

But while this book recounts Bankman-Fried’s crimes in detail, it is ultimately focused on his ideas. Bankman-Fried, for a time known affectionately as “SBF,” was deeply tied to concepts and movements with names like Effective Altruism, determinism, utilitarianism, extinction risk, Rationalism, and longtermism. 

 

These buzzwords have been developed into increasingly formal systems by professional philosophers and ethicists at elite universities, and further amplified through a network of institutions well-funded by technology billionaires. But they stand for much deeper, much older structures of thought: a historical teleology that I here call “techno-utopianism.” 

 

The superficial optimism of Effective Altruism was fundamental to the public fascination with Bankman-Fried that helped fuel his lightning-fast ascent. But its deeper biases — to which he was perhaps uniquely vulnerable — also helped Bankman-Fried rationalize his crimes, and its superficial logics created the blind spots that led to his downfall. 

 

This book is not a work of journalism, but of forensic philosophy. It asks how techno-utopian ideas, so loudly declaring their intent to do good, instead led to one of the largest financial frauds in American history — and whether their broader sway in twenty-first-century politics and society may lead to similar results, on a much larger scale.

Morris, David. Stealing The Future: Sam Bankman-Fried, Elite Fraud, and the Cult of Techno-Utopia (pp. 8-9). (Function). Kindle Edition.
  

 

UPDATE

 

Sam Bankman-Fried's mother has recently submitted a 64-page appeal brief on her son's behalf:

I am a law professor at Stanford, where I have taught for close to forty years. Before that, I was a practicing lawyer in New York and clerked on the Second Circuit Court of Appeals. I am also Sam Bankman-Fried’s mother. Because of my professional life, I have witnessed the events of the past three years through two very different sets of eyes. Someday I may write about what it has been like to live through this experience as a parent. Today I write as a lawyer, about the government’s legal case against Sam and the other FTX defendants. I would have much preferred to leave this task to others. But the spectacle that has surrounded the FTX case since day one has not been conducive to serious, independent thought or attention to facts. It has also imposed a very high cost on anyone who publicly expressed doubts about whether justice has been done in this case. I hope this will change in time, and others will come forward to supplement or amend what I have written here. Most of what I say below is documented in the trial transcript and public records posted on the official court docket. I have provided cites for those who would like to follow up on their own… 

Many observers see a fairly obvious Trump pardon effort ploy here. The further along I get in David's book, the more I tend to agree.

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More broadly with respect to FinSec / crypto fraud, we must not forget our Sorkin. Andrew interviewed SBF remotely via Zoom for his "Dealbook" program in the wake of the FTX crash. David's analytic recounting of that conversation is riveting.

 

 

Also, we also ought revisit some Adam Becker.

 

More shortly...