[sam345]

I'll answer. It sucks. But they had a leg tingle during the SBFs presentation when he said that his vision was for FTX app to buy bananas. So they bought in. Now to be fair all facts are in so maybe it went bad after so maybe controls were more of a factor than due diligence.

[belter]

Are these the same VC's that, would grill, up and down, eventual founders on:

- The minute details of a startup 5 year out business plan, cash-flow previsions, the impact of currency fluctuations of their profitable horizon...but ...

- Would allow him to get his girlfriend as the CEO?

[chucksmash]

> Would allow him to get his girlfriend as the CEO?

Ellison was CEO of the hedge fund, Alameda Research, not FTX.

Also, while the descriptions of her in this and other threads as a "Harry Potter fan" and "his girlfriend" dovetail with the erstwhile HN tendency toward "it's so simple, everybody is an idiot except for me," I don't think their relationship was public knowledge until quite recently and until that point she was probably more likely viewed through the lens of "Jane Street alum and Stanford grad."

Which is not that different from SBF's VC friendly pedigree of "Jane Street alum and MIT grad," so given their relationship wasn't public, it's a bit unreasonable to claim she should have been the red flag.

[sam345]

Still, like who would appoint this person as CEO even if she was his girlfriend: https://twitter.com/stillgray/status/1590935414730534913?s=4...

And why did she accept?? She had 18 months at Jane Street and by her own admission knew very little about trading.

And really, WHAT were the VCs thinking ??!

The hubris.