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> SBF himself has amassed more wealth in a shorter period of time than anyone else, ever. The 2022 Forbes Billionaires List pegs SBF’s net worth at $24 billion. He’s now 30 years old. But we get ahead of ourselves. This is just gold. Hopefully this all circus going down will also bring down all the phonies from VC companies like Sequoia Capital, guys (they're mostly guys, of course) who still live off the few successful bets they made in the early 2000s. We need fraudster-enablers like Sequoia to actually go bust if we really want for our industry to find its lustre again and for real innovation to come back. Later edit: I've mostly gone through all of it, and I have to say that that that archived article is pure genius, it has copy-paste-ble gem after copy-paste-ble gem. It would most probably deserve its own, separate submission, on HN. In a saner investment environment that sort of article, and the huge fraud the people behind it helped perpetuate by giving this SBF guy money (one of the Skype founders, really? the rationalist community, really?) should help bring some people down, and in so doing leaving our industry, well, cleaner. But I'm pretty sure that nothing like that will happen, the small fries will be too scared to call these people out as fraudster-enablers, thinking that they might need money from them at some future point, the other sharks in the pool will behave like nothing has ever happened, hoping that the regulatory powers that be will move along, to say nothing of the politicians, after all, to quote Vox, SBF is "one of Biden’s biggest donors" [1]. To re-capitulate, one of the US president's biggest donors has just defrauded people out of $10 billion (that we know of) while some of the biggest figures/institutions in the US tech industry had stood behind him. Business as usual in the rules-based United States. [1] https://www.vox.com/recode/2021/3/20/22335209/sam-bankman-fr... |